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The Strategies for Empowering the Hard Core Poor through Micro-Financing

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The Strategies for Empowering the Hard Core Poor through Micro-Financing.

ABSTRACT

The research is on the strategies for empowering the hard core poor through micro-financing.

The main objective of this study is to determine that strategies for empowering the hard core poor through micro-financing.

The research, methodology is descriptive; the study’s approach is based on the research questions which have influence on the data generated and the descriptive analysis presented. The researcher analyses the data collected based on the response from the questionnaires distributed.

The major finding of this study include the following:- The strategies for empowering the poor through micro-financing including:. Standardization Self-help group. Group guaranteed lending. Individual lending. Private ownership pattern. Self-employment and/or wage employment creations g).

Single product or multi-dimensional products. Self regulation and government regulation. The services that are delivered by micro-finance institutions to the poor include: Working capital loans. Savings. Consume credit. Pension.Insurance. Money transfer

The conclusion drawn from this study is that micro-financing is recognized as an effective ways of eradicating poverty, empowering the poor and elevating the right and status of women in the community.

Based on the findings and conclusion, the following recommendations were made; The poor ones should engage in micro-financing to come out from poverty and be. They should make enquiries on strategies of micro-financing and engage themselves through any one that suits

TABLE OF CONTENTS

Title Page i
Certification ii
Dedication iii
Acknowledgement iv
Abstract v
Table of Contents vii

CHAPTER ONE: INTRODUCTION

1.1 Background of the Study 1
1.2 Statement of the Problem 2
1.3 Objective of the Study 3
1.4 Research Questions 3
1.5 Significance of the Study 4
1.6 Scope and Limitations of the Study 4
1.7 Definitions of the Key Terms 5

CHAPTER TWO: REVIEW OF THE RELATED LITERATURE

2.1 Introduction 6
2.2 Strategies For Empowerment of the Poor 8
2.3 Evident of Empowerment 12

CHAPTER THREE: RESEARCH METHODOLOGY

3.0. Introduction 38
3.1 Sources of Data 38
3.2 Samples Selection Method 39
3.3 Population and Sample Size Determination 39
3.4 Instrument For Data Collection 40

CHAPTER FOUR: PRESENTATION AND ANALYSIS OF DATA

4.1 Presentation and Analysis of Data 42
4.2 Answer to the Research Questions 55

CHAPTER FIVE: SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATION

5.1 Summary of Findings 59
5.2 Conclusion 61
5.3 Recommendation 61
BIBLIOGRAPHY 62
APPENDIX 65

INTRODUCTION

1.1. Background of the Study

Microfinance is the provision of small loans (micro-credit) to poor people to help them engage in production activities or grow very small businesses. This also refers to the provision of financial services to low income clients, including the self employed.

More broad1y, it refers to a movement that envisions a world in which as many as possible of  the poor and near poor households have permanent access to an appropriate range of high quality financial services, including not just credit but also savings, insurance and fund transfer.

Microfinance is often considered one of the most effective and flexible strategies in the fight against global poverty. It is sustainable and can be implemented on the massive scale necessary to respond to the urgent needs of those living on less than $1 a day, the World’s poorest.

Microfinance consists of making small loans, usually less than $200, to individuals, usually women, to establish or expand a small, self- sustaining business.

BIBLIOGRAPHY

Ashe J. and Parrott L. (2001), Impact Evolution of PACT’s Women’s Empowerment Programm in Nepal” A Saving and Literacy Led Alternative to Financial Institutions Building Cambridge, Mass: Branders University.

Chants S. (1997), Women: Headed Households; Poorest of the poor, perspective from Mexico, Coast Rica and the Philipplines, IDS Bulletin 28 No 3

Christen R.P. and Drake D (2002), Commercialization: the New Reality of Microfinance, Kumarian Press, Incorporation

Deshpanda R. (2001) Increasing Access for Women: Practices and Innovations among Microfinance Institutions: New Yolk: UNCDF

Hanig A. and Mugwanva E. K, (2000), Financial Systems

Development Series No 1. (Kampala, Uganda : Bank of Uganda – German Technical Cooperation Financial Systems Development Project.

Kaber (1999), The Conditions and Consequences of Choice: Reflections on the Measurement of Women’s Empowerment UNRISD Discussion Paper No 108

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