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MICROFINANCE AND RURAL POVERTY ALLEVIATION: A REALITY?

International Journal of Business and Society

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Field Value
 
Title MICROFINANCE AND RURAL POVERTY ALLEVIATION: A REALITY?
 
Creator Kasali, Taofeek Aremu
Ahmad, Siti Aznor
Lim, Hock-Eam
 
Description It is a truism that if Microfinance Institutions (MFIs) play their expected role, poverty will reduce and there will be more employment opportunity and adequate economic development particularly in the rural areas. Poverty is more devastating in Sub-Saharan Africa than the rest of the world. This paper examines the contributions of microfinance towards the rural poverty reduction. To achieve this objective, the study adopted multi-stage random sampling technique to collect primary data through the structured questionnaire. A total sample of 1,134 microfinance loan beneficiaries and non-beneficiaries were used as respondents from three (Ogun, Osun and Oyo states) out of six states in South- West Nigeria. Statistical Percentage Techniques were used to describe the characteristics of the sample from the study. The results revealed that microfinance has marginal effects on the rural poor in Southwest Nigeria. Policy makers are advised to provide adequate infrastructural facilities that will encourage MFIs to establish branches in the rural areas. MFIs should endeavor to create more awareness to the rural poor with realistic loan procedure that will encourage the poor to access microcredit loan.Keywords: Economic Development; Poverty; Microfinance Institutions; rural poor; Nigeria.
 
Publisher Faculty of Economics and Business, UNIMAS
 
Date 2017-11-21
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://publisher.unimas.my/ojs/index.php/IJBS/article/view/538
 
Source International Journal of Business and Society; Vol 17 No 3 (2016): International Journal of Business and Society
1511-6670
 
Language eng
 
Relation http://publisher.unimas.my/ojs/index.php/IJBS/article/view/538/482
 
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