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Contribution of Small Credit to Poverty Reduction in the Rural Society of Tanzania: the case of Mwanga Rural Community Bank (MRCB)
(University of Dar es Salaam, 2009) Apolinary, Andrew
This study was carried out in Mwanga district, Kilimanjaro region, with the aim of assessing the contribution of small credit to poverty reduction in the rural society of Tanzania. They study emanated from the fact that that Rural Community Bank which had been operating in the rural areas of the study. The study was based on the fact that Microfinance had proved to be an effective and powerful tool for poverty reduction. A total of 93 Mwanga Rural Community Bank clients were interviewed. The study indicated that loans secured from Rural Community Bank contributed towards poverty reduction that could be evidenced through a number of ways, such as opening up new investments, ability to pay school fees, paying for health services and ensuring food sufficiency. Access to loans from Rural Community Bank therefore significantly contributes to poverty reduction, improving the standard of living among the bank clients loan recipients. The study made varies policy recommendations to the government and further future research to focus on a deeper understanding of poverty reduction since microfinance is only treating the symptoms than attacking the real causes of poverty reduction since microfinance is only treating the symptoms than attacking the real causes of poverty.