The impact of microfinance on poverty reduction: the case study of foundation for international community assistance Dar es Salaam.
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Date
2007
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Publisher
University of Dar es Salaam
Abstract
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.
Description
Available in print form, East Africana Collection, Dr. Wilbert Chagula Library, Class mark (THS EAF HG3726.M43)
Keywords
Financial institutions, Credit institutions, Poverty reduction, (FINCA) Foundation for International Community Assistance, Dar es Salaam
Citation
Meena, H.M (2007) The impact of microfinance on poverty reduction: the case study of foundation for international community assistance Dar es Salaam.Master dissertation, University of Dar es Salaam, Dar es Salaam.