The Role Of Microfinance In Poverty Reduction Among Slum Women
Abstract
Poverty has been pressing issues in Africa where majority of the African countries are
listed among the poorest nations in the world. Most of these countries lie in the subSaharanAfrica
.Women in these countries are believed to be more than men inthe ranks
ofthe poorest people on the earth. (Caroline Sweetman 2002).Lack of economic equality
between men and women has led to women marginalization and subordination. Women
continue to be poorer. In order to change this perception there is need to economically
empower women .In this study microfinance intervention has been suggested as one of
theways in which to alleviate poverty among the slum dwelling women. Micro finance
ispromoted as the key poverty alleviation strategy to enable poor women to cope with
.. adverse effect of economic and social impact of structural adjustment policies and
globalization (mayoux 200I).
Micro finance has enabled women to access savings and credit which gives them a
greater economic role in decision making. (Mayoux 2001).the access to savings and
credit facilities and women decision on what is being done with savings and credit
strengthenswomen say in economic decisions of the house hold .this enables women to
increaseexpenditure on wellbeing ofthemselves and their children.
Theeconomic power of women will also improve the political power of women. Mainly
because they will be motivated in policy and decision levels in society.
(Mayoux2001).Women will have more barging power