ISSN: 2222-6990
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A developing country like Ghana should harness all its human and material resources for her socio-economic and enterprise development. It is imperative that in an economy like Ghana where savings are low and hence capital accumulation is very minimal, micro credit support for entrepreneurs in general and women in particular as pontificated by this study is critical.
This is because women form the majority of the population of Ghana who also lack access to education, and formal credit and being treated as second fiddle to men in the socio-economic, religious and cultural set up. The techniques and methodologies used to collect the data for the research study included personal interviews, questionnaire, field survey and analysis of some official documents and brochures.
Studies have shown that micro credit support to women help to reduce the poverty level of the majority of the population. Asmah (2001) said “the basic cause of the problem facing women is poverty”. She further stated that “statistics show that “women control about 62% of Ghanaian household resources and it is only fair that women are economically empowered for the benefit of the family and the country as a whole”.
The research studied the Sinapi Aba Trust Micro Credit that indicated that a greater part of its credit was geared towards women entrepreneurs especially the urban poor with technical and managerial support to enhance the development and growth of their economic activities. The study revealed that the major set-back in Micro Credit is the high interest rate due to high overhead cost of Micro Credit hence the group credit scheme was most appropriate.
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In-Text Citation: (Kusi, Yussif, & Ismail, 2019)
To Cite this Article: Kusi, A., Yussif, S., & Ismail, A. (2019). Access to Micro Credit by Women Entrepreneurs in Ghana: Sinapi aba Trust- Kumasi in Retrospect. International Journal of Academic Research in Business and Social Sciences, 9(9), 590–613.
Copyright: © 2019 The Author(s)
Published by Human Resource Management Academic Research Society (www.hrmars.com)
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