ACCESS TO MICROCREDIT AND THE SOCIO-ECONOMIC EMPOWERMENT OF WOMEN IN COMMERCIAL SHEA BUTTER EXTRACTION AT SAWLA

Abstract

The empowerment of women is a global challenge and a critical issue that confronts continents, nations as well as sub-regions. Over the years, several attempts have been made internationally and nationally to address this issue worldwide. This research was undertaken to explore access to microcredit and the socio-economic empowerment of women in commercial Shea butter extraction at Sawla. This study used a mixture of both qualitative and quantitative approaches to ensure that relevant and adequate data about the characteristic of the sample size is gathered for analysis and interpretation. The target population was women in commercial Shea butter extraction. A total of forty-eight women were listed with twenty-nine sampled for the study. The findings showed that, the respondents lack access to credit, as the majority of 69% of them do not have access to microcredit. Hence, they are unable to derive the benefits of having access to microcredit that can lead to their socio-economic empowerment. It was revealed that those who have access to credit mostly borrow from family members and friends, some times in the form of trade credit. The study also identified: cumbersome application procedures; delay in approving loans; disappointments; small loan size; provision of collateral and high interest rates as challenges faced by respondents in accessing microcredit.