Impact of microfinance institutions on economic empowerment of women entrepreneurs in developing countries
Fwamba Rashid, Matete John, Nasimiyu Consolatta, Sungwacha Stephen
Kibabii University,Bungoma, Kenya
@International Journal of Management Science and Business Administration Volume 1, Issue 10, September 2015, Pages 45-55
This study mirrored out the effects of Microfinance on economic empowerment of Women Entrepreneurs in developing economies. Descriptive research design was used to assess the extent to which Women economic empowerment co-relates with Microfinance Institutions services. The target population was women entrepreneurs in Micro Finance Institutions (MFIs) within Kakamega C.B.D. Simple random probability sampling was applied to select ten (10) MFIs where four (4) active women entrepreneurs from each MFI was taken, adding to forty (40) respondents. Both primary and secondary data was collected through questionnaires and semi-structured interviews. Data collected was presented by descriptive statistics like pie charts and graphs. From the analysis, the results showed that microfinance services act as a key fulcrum to women entrepreneurs’ economic empowerment. The results were reaffirmed by a linear regression analysis (SPSS version 22). The findings will be used to make policy proposals that will see MFIs meet the economic empowerment needs of women Entrepreneurs to make developing countries progress as Kenya prepares to achieve vision 2030.
Keywords: Economic empowerment, Entrepreneurship, Developing economies and entrepreneurship, Kenya