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Contributions of microfinance institutions in Poverty reduction in Morogoro: A case of Elgibo saccos limited

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Show simple item record . Dugange, Godlove M 2016-03-26T13:58:41Z 2016-03-26T13:58:41Z 2015
dc.description A dissertation Submitted in Partial Fulfilment of the Requirements for Award of the degree of Masters of Science in Accounting and Finance (MSc.AF) of Mzumbe University en_US
dc.description.abstract Microfinance is currently being promoted as a key development strategy for promoting poverty reduction and empowerment of people economically. This is because it has been potential to effectively address poverty by granting financial services to households who are not served by the formal banking sector. This study research on the contributions of MFIs on poverty reduction. The study focused on ELGIBO SACCOS limited located in Misufini Street in Morogoro municipal as a case study. It intended to cover credit facilities provided by the MFIs and clients perception on income improvement and/or reduced poverty levels. The study used descriptive research design. The target population was 5 staff/administrators and 65 clients or recipients/borrowers of loan at the Elgibo SACCOS and 65 non-borrowers. The study employed stratified sampling technique to select staff of the selected MFIs and clients. Both qualitative and quantitative data analysis methods were used. The study revealed that ELGIBO SACCOS as a microfinance institution has been able to fight reduce poverty to a certain extent by providing microfinance services to different groups of women - productive or active poor, enable the household to increase their living standard through increase their income compare to non-borrower, also help the borrowers to own and live in the good house compare to non-borrower and engage in more economic and more profitable economic activities than non-borrowers. In assessing the financial product offered by Elgibo SACCOS it has been noticed that most of the SACCOS provide the loan like business loan, development loan, contingency loan, agricultural input loans and construction loans. To enhance client’s business skills to use credit and establish market channels for their products, the study recommends that (i.) Microfinance Institutions like Elgibo SACCOS can arrange mechanisms to improve technical and business skills of the poorest through education provision like training on how to utilise their loan effectively. (ii.) MFIs should have continuous monitoring of financial management (iii.) Effort in building leadership and governance capacity (iv.) Government supports (v.) Timeliness and the volume of cash and (vi.) Review by-laws en_US
dc.language.iso en en_US
dc.publisher Mzumbe University en_US
dc.subject Poverty Reduction en_US
dc.title Contributions of microfinance institutions in Poverty reduction in Morogoro: A case of Elgibo saccos limited en_US
dc.type Thesis en_US

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