University of Dar es Salaam Business School

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Browsing University of Dar es Salaam Business School by Subject "(FINCA) Foundation for International Community Assistance"

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    The impact of microfinance on poverty reduction: the case study of foundation for international community assistance Dar es Salaam.
    (University of Dar es Salaam, 2007) Meena, Hussein Mabruu
    The main objective of this study was to assess the impact of Microfinance institutions in poverty reduction initiatives as stipulated in the Millennium Development Goals and the National Strategy for Economic Growth and Poverty Reduction. The services provided by microfinance institutions can enable the poor to smoothen their consumption, manage their risks better, build their assets gradually, develop their micro enterprises, enhance their income earning capacity, and enjoy an improved quality of life. Following the information collected from bath microfinance institutions and their clients, it was revealed that Mils have changed the life of poor people in a positive way. The total of 52 respondents from Kinondoni, Kimara and Mbagala FINCA's centres in Dar es Salaam was sampled, in additional to that four credit officers at FINCA office were also interviewed. Both qualitative and quantitative methods were used in data analysis. Microsoft Excel programs aided data analysis. The study revealed that, microfinance institutions have an impact in poverty reduction initiatives, because FINCA base its activities in the rural and urban poor areas. It was also found that, FINCA focused its services on poor people mostly women (about 70 percent of its members) and the rest being men. It is was witnessed that the majority of members with successful businesses supported by FINCA, their level of businesses rose as a result of saving first supported by credit.