African Phycology Journal (Core Life Science) | 01 May 2005
Microfinance Institutions' Contribution to Economic Empowerment Among Female Entrepreneurs in Kenya's Informal Settlements: A Comparative Study
K, a, m, a, u, N, j, a, g, i, ,, O, d, h, i, a, m, b, o, M, u, t, u, a
Abstract
Microfinance Institutions (MFIs) have been increasingly recognised for their potential to enhance economic empowerment among female entrepreneurs in informal settlements across Africa. The research employs a comparative case study approach, utilising qualitative data from interviews with MFI clients and surveys among female entrepreneurs. MFIs have significantly contributed to the financial stability of female entrepreneurs by providing access to credit and training, resulting in an average increase of 20% in business revenues over three years. This study underscores the importance of tailored support programmes for female entrepreneurs within MFIs to foster sustained economic growth. MFIs should integrate gender-specific financial products and tailor their services to address specific needs identified by female entrepreneurs. Microfinance Institutions, Female Entrepreneurs, Economic Empowerment, Informal Settlements, Kenya