Browsing by Author "Mwakajinga, Boniface Hezron"

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    The role of microfinance on women economic empowerment in Tanzania: a case of individual borrowers at FINCA
    (University of Dar es Salaam, 2012) Mwakajinga, Boniface Hezron
    This study sought to assess the role of microfinance in women empowerment in Tanzania. Specifically, the study intended to determine the impact of contributions of microfinances on economically empowering women in popularity of their businesses and determine the dominant themes in the socio-economic integrity of how women, who have been deprived of their economic rights in the African context, free themselves and attain empowerment and also financial freedom. The study aims to reveal roles of the MFIs that play in women empowerment through financial support. Such impact is limited to relatively small areas with the access to the loan facilities. Regarding popularity of MFIs in remote areas, most institutions are barely known, in contrast to the urban areas where they are mainly concentrated to cater for the ever rising demands of loan borrowers. Results of findings also show that even those women with access to loan facilities have faced various hindrances that have been a stumbling block to achieve economic freedom and empowerment. These include lack of proper entrepreneurial knowledge for women, domestic duties also hinder them from proper commitment to businesses, later on making their businesses stagnate. High interest rates is also another basic factor hindering empowerment of women financially, and this is due to the fact that there is high demand of loans from many individuals and also women groups. Also the lack of collaterals and securities for securing loans in the microfinance sector. In consistence with the findings, the study recommended that women should be educated on entrepreneurial skills and business plan writing to help them run their businesses well. Formulation and implementation of government policies that favour women in accessing loan facilities, especially in regard to high interest rates and lack of collaterals for borrowers. The government should also engage in subsidizing or invest in lending to help reduce high interest rates that kill the process of empowering women economically.