EMPOWERMENT OF WOMEN THROUGH MICRO FINANCE IN THE TAMALE METROPOLITAN AREA OF GHANA

Abstract

The study sought to assess the empowerment of women through microfinance institutions in the Tamale Area of the Northern Region of Ghana. The research problem was as a result of varied household needs of women, inadequate funds by women to expand their businesses and the increase in the number of microcredit schemes in the area.A descriptive study design was used to gather information from 130 women, in four microfmance institutions. Purposive sampling procedure was used to select the respondents. Questiormaires were respectively administered to the women clientele of the micro finance institutions or companies. The data was analysed by means of descriptive and inferential statistics using the statistical product and service solutions (SPSS). The study reveals that microfinance service empower women to be gainfully employed. Income from such non-farm enterprise is used for household provisions and other essential basic services. This leads to improvement in the family livelihood. Women acting as breadwinners of the family give them the opportunity to take part in household decision-making, which give them the positions relative to men in the Tamale metropolitan area. The study that for women to remain in business and contribute to the family livelihood, it is important for micro finance institutions to consider revising the terms of the credit facilities. This should be done to give women access to 'business money' instead of the usual 'chop money' which hardly help in the empowerment of women in the Tamale metropolitan area