The Role of Microfinance on the Socio-Economic Development of Women in Mkoani District - Pemba Zanzibar.

Moh’d, Warda Waly (2023) The Role of Microfinance on the Socio-Economic Development of Women in Mkoani District - Pemba Zanzibar. Masters thesis, The Open University of Tanzania.

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Abstract

The general objective of the study is to examine microfinance impact on socio economic development of the women in the community. The study was conducted in South Region in Mkoani- District-Pemba Island. The sample size was 50 participants that responded to all questions and five MFIs staffs surveyed in order to assess its breadth and depth of its contributions in its respective operational areas. Client questionnaires, checklist for key informants and participant observation were employed for data collection. Content and structural-functional analyses techniques were applied to qualitative data and information. The results shows that women who accessed the loans from MFIs were able to improve their socio-economic status through starting up and or expanding business and enterprises, paying school fees for their children, purchase of household items like furniture, land, building of houses, confidence building, participation in leadership roles. Also the findings indicated that small amounts of money disbursed, diversion of funds, low returns on investment, short grace periods, unfavorable repayment schedules are the main challenges faced by woman in accessing and utilizing of MFIs services. Based on the results of this study, it was recommended that, MFIs could increase on the amount given as loans to the clients and assess repayment capabilities before loan provision. Keywords: Microfinance, Socio-economic Development and Microfinance Institution

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