ABSTRACT
The research is on the strategies for empowering the hard core poor
through micro-financing.
The main objective of this study is to determine that strategies for
empowering the hard core poor through micro-financing. The research,
methodology is descriptive; the study’s approach is based on the research
questions which have influence on the data generated and the descriptive
analysis presented. The researcher analyses the data collected based on
the response from the questionnaires distributed.
The major finding of this study include the following:-
1. The strategies for empowering the poor through micro-financing
including:
a). Standardization
b). Self-help group
c). Group guaranteed lending
d). Individual lending
e). Private ownership pattern
f). Self-employment and/or wage employment creations
g). Single product or multi-dimensional products.
h). Self regulation and government regulation
2. The services that are delivered by micro-finance institutions to the
poor include:
a) Working capital loans
b) Savings
c) Consume credit
d) Pension
e) Insurance
f) Money transfer
The conclusion drawn from this study is that micro-financing is
recognized as an effective ways of eradicating poverty, empowering the
poor and elevating the right and status of women in the community.
Based on the findings and conclusion, the following
recommendations were made;
i. The poor ones should engage in micro-financing to come out from
poverty and be empowered.
ii. They should make enquiries on strategies of micro-financing and
engage themselves through any one that suits them
