EMPOWERMENT OF RURAL WOMEN

Abstract

The study is a critical examination of the role of Micro Finance Institutions in the empowerment of the rural women in Ghana’s economic development. The general objective of the study is to assess and evaluate the contribution of microfinance institutions to the empowerment women with particular emphasis on women in the rural of areas Ashanti region. However, both primary and secondary data was used in gathering information for the study. The secondary data came as a review of documented materials, while the primary data was obtained with the help of questionnaire and were administered to the women with the help of the researcher, who helped the uneducated ones to fill the questionnaire by explaining the questions to them. A total of 150 questionnaires were distributed. Simple statistical techniques such as descriptive statistics including tables, graphical presentations such as line graph and bars were used in analyzing and summarizing the data. From the findings of this study, it was realized that the loans offered by MFIs have significant impact on the empowerment of rural women. Interestingly, this study found that most women in this association experienced increased income and therefore improved their economic status, political and social conditions after receiving the loans. They also expressed concern about high interest rate that is charge on the loan. In addition to that the respondent were also worry about application procedures, short repayment period and long training session before disbursement of loans. Despite these challenges, majority of the respondents concluded Microfinance has contributed not only in alleviating poverty of the poor people, but also in empowering the rural communities.