IJSSER

Title: EFFECTS OF MICROFINANCE ON WOMEN EMPOWERMENT IN ONDO AND EKITI STATES: 2010-2020
Authors: Owoputi .J. Ayodele and Imoukhuede .B. Kayode
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Owoputi .J. Ayodele1 and Imoukhuede .B. Kayode2 1. Department of Banking and Finance, Rufus Giwa Polytechnic, Owo Ondo State 2. Department of Public Administration, Rufus Giwa Polytechnic, Owo, Ondo State, Nigeria
MLA 8 Ayodele, Owoputi.J., and Imoukhuede .B. Kayode. "EFFECTS OF MICROFINANCE ON WOMEN EMPOWERMENT IN ONDO AND EKITI STATES: 2010-2020." Int. j. of Social Science and Economic Research, vol. 8, no. 9, Sept. 2023, pp. 2877-2890, doi.org/10.46609/IJSSER.2023.v08i09.029. Accessed Sept. 2023. APA 6 Ayodele, O., & Kayode, I. (2023, September). EFFECTS OF MICROFINANCE ON WOMEN EMPOWERMENT IN ONDO AND EKITI STATES: 2010-2020. Int. j. of Social Science and Economic Research, 8(9), 2877-2890. Retrieved from https://doi.org/10.46609/IJSSER.2023.v08i09.029 Chicago Ayodele, Owoputi.J., and Imoukhuede .B. Kayode. "EFFECTS OF MICROFINANCE ON WOMEN EMPOWERMENT IN ONDO AND EKITI STATES: 2010-2020." Int. j. of Social Science and Economic Research 8, no. 9 (September 2023), 2877-2890. Accessed September, 2023. https://doi.org/10.46609/IJSSER.2023.v08i09.029.
References [1]. Andhra, P. (2015) Impact of Microfinance on Women Empowerment: An Empirical Evidence from Andhra Pradesh Journal of Entrepreneurship and Organization Management. [2]. Caramela, S. (2018), Microfinance: What it is and Why it Matters Business News Daily. Retrieved from www.en.wikipedia.org/wiki/micrsofinance 15 December, 2020 [3]. Central Bank of Nigeria (2011). Microfinance Policy Framework for Nigeria Revised. Retrieved from www.cbn.gov.ng 14 December, 2020. [4]. Cheston S.& Kuhn, L. (2002) Empowering Women Through Microfinance. Draft Publication Sponsored by UNIFEM [5]. Evaristus, M. Schuyler, R.H Quilin, Z. & Aprajita K. (2004). Grameen BanK: Taking Capitalism to the Poor. Columbia Business School, New York. [6]. Gueyie, J.P. Manson, R. & Yaron, J. (2013) Microfinance in Developing Countries Issues, Policies and Performance Evaluation Palgrave Macmillion. www.amazon.com/microfinance-development-countries-performance-evaluation/dp/02300348467 [7]. Hunt, J. & Kasynathan (2001):Pathways to Empowerment and Transformation in Gender Relations in South Asia. Gender Relations In South Asia. Gender and Development Ltd. Vol. 9, No. 1 pp42-52. Taylor and Francis. [8]. Johnson, S. & Rogaly, B. (1997). Microfinance and Poverty Reduction, OXFAM and Action Aid Oxford, United Kingdom [9]. Mengstie, B. (2022).Impact of Microfinance on Women’s Economic Empowerment. J Innov Entrep 11,55.https://doi.org/10.1186/s13731-022-02250-3 [10]. Moreno, A.M. (2010) Grameen Microfinance: An Evaluation of The Success and Limitation of the Gramen Bank. University of Pennslyvania, Scholarly Commons. http/repository.upenn.edu//ppe_honours/17 [11]. National Population Commission (2010). Federal Republic of Nigeria 2006 Population and Housing Census, Priority Table Volume III, Abuja [12]. Temba, C.C. (2016). Contribution of Microfinance on Women’s Economic Empowerment: A Case Study of Solidarity Loans at Akiba Commercial Bank Plc, Bugurumi Branch, Open University of Tanzania. [13]. Ulrich D, P.K. (2017). Models of Microfinance Interventions. The Grameen Bank Model. Retrieved from www.polocapital.com/blog 12 December, 2020 [14]. Yunus, M. (1999) Banker to the Poor: Micro Lending and the Battle Against World Poverty New York: Public Affairs Hc.p.46-49.
ABSTRACT: Microfinance constitute vital micro-economic policy that is having objectives to enhance microcredit facilities, poverty reduction among the low-income earners and enhance women empowerment in Nigeria. The issue of women empowerment is vital to socio-economic development in Nigeria of which Ekiti and Ondo States inclusive. Thus ,this study examined the effects of microfinance on women empowerment in Ekiti and Ondo States:2010-2020. Literatures have observed the inverse relation between population of women compare to women in respect of economic and political empowerment in Nigeria. In regards to inadequate women empowerment in Ekiti and Ondo States, the study has the objectives to investigate the effectiveness of microfinance institutions in delivering micro-credit facilities to women, determine the challenges and strategies that can enhance retail trade and small-scale job creation by micro-credit institutions in both Ekiti and Ondo States. The research methodology made use of mixed-method approach which entails analysis of quantitative and qualitative data. Findings from the study indicate that microfinance interventions contribute to capacity of women in the development of retail business, enhance alleviation of poverty of rural poor, provide micro-credit economic interventions, enhance the gender dynamics and role of women in communities and women empowerment. While, critics of microfinance viewed it as a form shylock business and exploitation of the needy and less-privileged women in the society. Conclusively, the study provides feasible policy measures that will enhance micro-finance institutions in aspects of micro-credit service delivery and empowerment of the people especially women in Ekiti and Ondo States.

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