CHARTED INSTITUTE OF FINANCIAL AND INVESTMENT ANALYST (CIFIA)
ASSESSING THE IMPACT OF MICROFINANCE IN GRASSROOT DEVELOPMENT.
BY PRAISE DAVIDSON AMU
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DECLARATION
I hereby declare that this piece of work is the outcome of my own research except for the references which served as a source of information which I have acknowledged. This work has therefore never been presented for another certificate, Diploma or Degree. I therefore fully accept all omissions and errors that might appear in this paper. NAME: PRAISE DAVIDSON AMU SIGNATURE: DATE: …………………………………………………
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CERTIFICATION
The undersigned certify that they have read and recommended to Charted Institute of Financial and Investment Analyst the acceptance of the dissertation
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14 1.5 definition of Terms …………………………………………………………………………….. 15 CHAPTER TWO: LITERATURE REVIEW ……………………………………………………… 16 2.0 introduction………………………………………………………………………………………… 16 2.1.0 Theoretical issues in Financial Sector Reforms ………………………………… 16 2.1.1 Microfinance ……………………………………………………………………………………… 18
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2.1.2 Justification of Microfinance …………………………………………………………………. 24 2.2.3 Products and Services of MFIs ………………………………………………………………… 27 2.4 Impacts of Microfinance …………………………………………………………………………….. 30 2.2.0 Empirical Literature Review ……………………………………………………………………….32 2.2.1 Microfinance in Ghana ……………………………………………………………………………… 33 2.3 Revolution of Microfinance …………………………………………………………………………. 34 2.4 Criticism of Microfinance …………………………………………………………………………….. 37 CHAPTER THREE METHODOLOGY ……………………………………………………………………… 38 3.0 Introduction ………………………………………………………………………………………………… 38 3.1 Choice of Study Area ………………………………………………………………………………………38 3.2 Population and Sampling ……………………………………………………………………………… 38 3.3 Data Collection Procedure …………………………………………………………………………… 39 3.4 Research Instruments …………………………………………………………………………………. 40 3.5 Research Design ……………………………………………………………………………………………41 3.6 Data Analysis ……………………………………………………………………………………………… 41 3.7 Limitations ………………………………………………………………………………………………… 42 CHAPTER FOUR METHODOLOGY…………………………..………………………………………… 43 4.0 Introduction …………………………………………………………………………………………………43 4.1 MFIs Operating in the Ketu North District ……………………………………………………43
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Another major characteristic of microfinance is that they have numerous loans to informally-organised businesses which are often in small amounts over a short-term period with turnover of the aggregate loan portfolio maturing several times during the year. These are unsecure loans with simple repayment structure and documentation, but interest rates are generally higher than those in the formal sector (Anderson, 2002).
Financial regulation is necessary and without an efficient set of regulations a country could see rises in unemployment, interest rates, and the deterioration of financial intermediaries. With the globalization of the financial industry, it becomes more and more common for businesses to seek financing outside of their county 's boarders. These innovations in the financial industry stress why it is so important for regulations to be created and changed to reduce risk and asymmetric information in financial systems.
List of abbreviations List of tables Acknowledgements Abstract 1. 2. 3. 4. 5. 6. 7. 8. Introduction Problem statement Objectives and hypothesis of the study Literature review Structure and performance of the financial sector in
I certify that this literature review is my own work and contains no material which has been accepted for the award of any degree or diploma in any institute, college or university. Moreover, to the best of my knowledge and belief, it contains no material previously published or written by another person, except where due reference is made in the text of the dissertation.
Pakistan is an enormous business for microfinance industry which has tapped almost 2.6 million dynamic borrowers against 30 million focused on clients to a great extent dwelling in little urban areas and towns with no right to gain entrance to fiscal establishments. Microfinance area in Pakistan began with an expectation to fiscally encourage the underprivileged, while imitating accomplishment of comparative foundations from different parts of the world. At first these establishments were for the most part supported by multilaterals and universal Ngos which were leading neediness destruction ventures inside the nation. In any case, as of late the division has developed into a more economical plan of action, performing comparative capacity to a business bank, while staying correct to its order of giving monetary aid to poor people. Nonetheless, these half and half establishments still remain exceptionally helpless to the changing nature's turf, because of the micro introduction of these foundations. Rivalry and security around microfinance banks has expanded inside the part, which is a hint of something better over the horizon for the whole segment however banks ought to keep tabs on infiltrating in the untapped markets instead of rivalry with one another in the saved money regions. Remote immediate financing in microfinance segment is likely and positive for the nation and it is trusted that it will bring innovative progression and advancement in administrations for the