African Consumer Behavior Studies (Business/Psychology crossover) | 08 January 2008
Empowerment Strategies in Microfinance for Female Market Sellers in Cairo's Medellin Market: An African Perspective
F, a, t, i, m, a, A, l, -, M, a, s, r, y, ,, O, s, a, m, a, A, h, m, e, d, ,, A, h, m, e, d, E, l, -, G, a, m, a, l
Abstract
Microfinance initiatives have emerged as a significant tool for economic empowerment in various markets globally. However, their effectiveness and impact on female market sellers specifically remain underexplored, especially in developing economies like Egypt. The research methodology includes semi-structured interviews with a purposive sample of 30 female market sellers. Data collection was conducted through direct observation and participant interviews, utilising thematic analysis for data interpretation. Findings indicate that empowerment strategies such as providing access to financial education (65%) and microloans (70%) have been pivotal in enhancing the economic capabilities of female market sellers. These strategies not only improve their income stability but also empower them by fostering a sense of self-efficacy. The study underscores the importance of tailored empowerment strategies that combine financial support with education for sustainable economic growth among female market sellers. MFIs should consider incorporating more comprehensive support programmes, including vocational training and mentorship, to further empower female participants in Cairo's Medellin Market.