Governments, donors and NGOs have over the years initiated and implemented programmes aimed at empowering women economically and socially. Despite these efforts some challenges still remain. Microfinance as tool for women empowerment has become the main subject of many global and regional conferences, seminars and workshops. This study therefore examined the contribution of microfinance to the socio-economic empowerment of women in Nigeria by using Nsehe Micro Finance microfinance programme as a case study. The survey method was adopted where questionnaires were administered to beneficiaries of the nsehe micro finance’s microfinance programme. The findings from the study revealed that access to microfinance has contributed immensely to the economic empowerment of women through improvement in their businesses. Besides, the study shows that access to microfinance has improved the status of women both at the family level and in society as a whole. The study therefore recommends that nsehe micro finance should endeavour to extend more credit facilities to clients to expand their businesses. Finally, nsehe micro finance should provide more training programmes to women in order to improve their entrepreneurial skills and help reduce the problems which hinder their access to microfinance.

                  TABLE OF CONTENTS

Title   Page  i

Declaration    ii

Dedication    iii

Acknowledgement    iv

Abstract    v

Table of Contents    vi

List of Tables    ix

List of Figures    ix


1.0    Background to the study    1

1.1    Statement of the Problem    3

1.2    Objectives of the Study    4

1.3    Research Questions    5

1.4    Significance of the study    5

1.5    Research Methodology    6

1.6    Limitations of the Study    6

1.7    Organization of the Study    6


2.0    Introduction    7

2.1    Definition and Scope of Microfinance    7

2.2    Overview of Microfinance Sector    9

2.3    Overview of the Micro Finance Sector in Nigeria    10

2.3.1 Stakeholders in the Microfinance Sector    11

    Target Clientele    11

    Suppliers of Financial Services    11

2.3.2 Government of Nigeria as a facilitator    13

2.3.3 Donor support for the micro Finance Sector    14

2.4    The Role of Non-Governmental Organizations (NGOs) in Microfinance    15

2.5    Microfinance, Women Empowerment and EntrepreneurialDevelopment    17

2.6    Problems facing the Microfinance Sector in Nigeria    20

2.6.1. Unfavourable macro-economic environment    20

2.6.2. Failure of the commercial banks to serve the micro finance sector    20

2.6.3. Inadequate training, weak management and governance    20

2.6.4. Inappropriate regulatory framework    21

2.6.5. Fragmentation of the Nigeriaian financial sector    21

2.6.6. Capacity building constraints    21

2.7    Profile of Opportunity International Savings And Loans Company    21

2.8    NSEHE MICRO FINANCE’s Vision, Mission and Objectives    23

2.8.1 Vision    23

2.8.2 Mission    23

2.8.3 Objectives    23

2.9    Organizational Structure of NSEHE MICRO FINANCE    24

2.9.1  NSEHE MICRO FINANCE’s Operational Methodologies and Areas    26

2.9.2  NSEHE MICRO FINANCE’s Sources of Finance the Company and Its Shareholders    29

2.9.3 Conclusion    29


3.0    Introduction    30

3.1    Research Method    30

3.2    Population and Sample    31

3.3    Sampling Technique    31

3.4    Research Technique    32

3.5    Sources of Data    33

3.5.1 Primary Sources    33

3.6    Data Analysis    33


4.0    Introduction    34

4.1    EntrepreneurialBackground of Respondents    34

4.2    Client Empowerment Tool    40

4.3    Conclusion    44


5.0    Introduction    45

5.1    Summary of the study    45

5.2    Conclusions from the study    46

5.3    Recommendations    47

5.4    Limitations of the Study and Suggestions for Further Studies    47




Table 4.1: Marital Status of Respondents    37

Table 4.2: Level of Formal Education of Respondents    38

Table 4.3: Main Business Activities of Respondents    39

Table 4.4: Size of Initial Working Capital before joining the Programme    39

Table 4.5    Access to other Credit Facilities apart from NSEHE MICRO FINANCE programme    40

Table 4.6    Impact Survey of Microfinance at Enterprises Level    42

Table 4.7    Impact Survey of Microfinance at The Family Level    43

Table 4.8a Clients’ Self-Esteem and Level Of Empowerment Before Joining NSEHE MICRO FINANCE    44

Table 4.8b The Impact of NSEHE MICRO FINANCE’s Performance on Clients’ Self-Esteem and Level of   

Empowerment after Joining NSEHE MICRO FINANCE    44


Figure  2.1 NSEHE MICRO FINANCE’s Governance and Administrative Bodies    25

Figure 4.1: Age of respondents    36



1.0 Background to the study

Microfinance is the provision of a broad range of financial services to poor low-income households and micro enterprises (Amin and Pebley, 1994). Research interest in the issue of access to microfinance particularly by women has been on a rising trend in recent times. Bennet and Goldberg (1993) asserted that in developing economies, low-income women are often victims of societal suppression and abuse; while their counterparts in developed economies are victims of lending discrimination. It is therefore argued that lending to women may help empower them economically and socially.

The heightened interest in the gender dimension of microfinance in recent times stems from the fact that women are often seen as instruments for societal change and development and as such, empowering them may be of great benefit to society. Access to credit by women has therefore become the main subject of many global and regional conferences, seminars and workshops. Experts have widely acknowledged the substantial contribution of small and micro enterprises (of which women participation constitute larger percentage) to the entrepreneurialdevelopment of a nation, therefore the need to support them to grow. It is therefore no exaggeration to state that, the most important goal, which every society in the contemporary world has set for itself, is to empower its women to be able to afford basic necessities of life such as food, clothing and shelter; as well as be part of decision making in the home and community. In many societies in Africa, which Nigeria is no exception, women are not fully integrated into the socio-

economic development process (Meyer, 1992) and one of the possible implications is that, these societies are deprived of their full utilization of their human resource capabilities and potentials. Education, in its true sense brings some level of empowerment and once a woman is empowered it will subsequently lead to a reduction in poverty in various societies, education helps women to contribute meaningfully to development through participation in decision making which has been perceived to be the prerogative of men.

In an effort to promote women empowerment, the U.N general assembly in 1974 passed a resolution emphasizing the priorities of women, their role and participation in entrepreneurialdevelopment and the need to integrate them fully into the development agenda. Subsequently, many world conferences like the first Women’s conference in Mexico City in 1975, and others at regional levels have been held and continued to be held. All these conferences aimed at developing and emphasizing strategies for the advancement of women so as to overcome the obstacles that women in general encounter in trying to achieve equality, peace, respect and a say in the development of lives through sustaining their income-generating activities to enhance their economic power.

In developing countries, many governments, in collaboration with NGO’s have over the years implemented programmes aimed at empowering women economically and socially. One NGO that has been in the forefront of championing the entrepreneurial empowerment of women is Nsehe Micro Finance Ltd. The company, which commenced operations in Nigeria in the year 2004, has accepted the challenge of helping to improve the status and contribution of women in the nation’s

entrepreneurialdevelopment through the provision of small and micro-credit. This study therefore seeks to assess the contribution of microfinance to the entrepreneurial empowerment of women, with a focus on NSEHE MICRO FINANCE microfinance programme.

1.1 Statement of the Problem

Traditionally, socio-cultural beliefs and other impediments have long limited women’s participation in the economy and their access to resources for development especially in developing countries. However, there is a general consensus that in order for women to play a meaningful role in economic development, they must be empowered both at the economic and social level. One way of empowering women is to make credit easily accessible to them to finance their small and micro enterprises. In an attempt to realize this objective, a plethora of policies were implemented by various governments in collaboration with other stakeholders aimed at helping women access funds to expand their businesses. Despite, the efforts made by the government, policy makers, NGOs and financial institutions in extending financial services to micro enterprises (of which the participation of women is greatest), majority of women still faced enormous challenges in trying to access funds for their enterprises. Constraints to microfinance by women in small and micro enterprises can be attributed to a number of reasons such as low return activities undertaken by women coupled with heavy domestic workloads; channeling their low incomes or returns to support the up-keep of the home; high rate of illiteracy among women, their limited roles in household decision-making among others. Moreover, the formal financial institutions consider lending to small businesses as a very time consuming and a costly venture since microenterprises lack proper accounting procedures and owners frequently mix their business and personal finances, so their

financial statements are often unreliable. Without access to formal financial service, most microenterprises are compelled to raise greater percentage of their start-up capital through their own internal savings and from family members but these are always inadequate. This study therefore intends to explore the contribution of microfinance to the entrepreneurial empowerment of women and the measures that can be taken to make credit easily accessible to them.

1.2 Objectives of the Study

The general objective of the study is to investigate the effect of microfinance on the entrepreneurial empowerment of women.

1.    To examine the entrepreneurial characteristics of NSEHE MICRO FINANCE microfinance programme

2.    To investigate the effect of microfinance on the performance of microenterprises.

3.    To examine the effect of microfinance on entrepreneurial empowerment of women.

1.3    Research Questions

The research questions of the study are as follows;

1.    What are the entrepreneurial characteristics of NSEHE MICRO FINANCE microfinance programme?

2.    What is the effect of microfinance on the performance of microenterprises?

3.    Does access to microfinance contributes to the entrepreneurial empowerment of women?

1.4    Significance of the study

The outcome of this study will help the government, policy makers and financial intermediaries on the contribution of microfinance towards women empowerment in Nigeria. Besides, the findings would be useful to advocates of women empowerment who can rely on it to make a case for more credit facilities for women to improve their businesses. Furthermore, the study may help other stakeholders particularly NSEHE MICRO FINANCE in reviewing their lending policies towards women in order to achieve greater efficiency and offer value added financial services.

1.5 Research Methodology

The study used the survey method to analyze the effect of microfinance on entrepreneurial empowerment of women. Statistical techniques such as frequency, percentages and statistical tools such as tables and bar graph are used to analyze the responses to the questionnaire. Detailed methodology is provided in chapter three.

1.6 Limitations of the Study

A number of problems were encountered in undertaking this study, such as non-availability of needed current data, which would have enriched the study further and

enhance its analysis because of poor data keeping culture. Some difficulties were also faced in obtaining relevant information about NSEHE MICRO FINANCE due to privacy and security reasons. Besides, time and cost constraints make it technically impossible for a national survey thus the study relied on samples from the Greater Accra region although NSEHE MICRO FINANCE operates in eight regions in Nigeria.

1.7 Organization of the Study

The study is organized in five chapters. The first chapter gives the background to the study, problem statement, the objectives, research questions and the significance of the study among others. The second chapter dealt with a review of related literature on the topic whereas the third chapter covers the detailed methodology. The fourth chapter covers the presentation and discussion of the results. The summary, conclusion and recommendations are provided in the fifth chapter.



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