Assessing the challenges of Microfinance Institutions in their efforts towards economic dmpowerment in Uganda: a case study of Makindye Division Kampala District
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Date
2010-09
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Kampala International University: School of Business and Management
Abstract
The study investigated the challenges faced by microfinance in their efforts of economic empowerment. The study was guided by specific objectives that included; To determine how MFiI fund community projects; to find out how MFIs ยท efforts on provision of infrastructural facilities enhance economic empowerment; to establish the part played by cultural practices on MFIs" efforts toward economic empowerment; and to examine the extent to which literacy objects MFIs' efforts towards economic empowerment in Uganda.
The study was descriptive and analytical in nature where stratified sampling was used to select population. From 90 respondents, data were analyzed and presented using frequencies and percentages and were tabulated.
The major findings of the study were; most of the respondents were males. There are challenges that affect the efforts of micro finance in economic empowerment, however, to a larger extent, they contribute to the economic empowerment of Uganda through poverty eradication, achieve education, improve health care services and among others improved standards of living. Among the recommendations are; sensitization of the community about the goodness and significance of microfinance, reducing or lowering interest rates, promoting microfinance institutions, and among others education of the population to reduce the higher illiteracy rates which in tum hamper success of Microfinance Institutions' endeavors of economic
empowerment.
Description
A research report submitted to the School of Business and Management in partial fulfillment of the requirements for the Award of a Bachelor's Degree in Business Administration [Finance and Banking] of Kampala International University
Keywords
Microfinance Institutions, Economic empowerment