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Essay / The role of microfinance in the socio-economic development of women in Rwanda
Microfinance is considered as a development tool that contributes to or provides financial services and products such as very small loans, savings, micro-credit, micro-insurance. and cash transfers to help very or extremely poor people expand or start their businesses. In Rwanda, it is mainly used in rural areas where SMEs do not have access to other sources of financial assistance. These financial institutions constitute: village banks, credit cooperatives, public banks and social venture capital funds to help women in their development. Women play a crucial role in the socio-economic development of their families and communities, but certain obstacles such as poverty, unemployment, low household income and social discrimination, mainly in developing countries, have hindered their effective fulfillment of this role. Therefore, most women in Rwanda engage in entrepreneurial activities to support their families to reduce poverty through microfinance facilities such as obtaining loans, paying school fees, obtaining housing, receiving health care and they also provide support such as the decision-making process. creation, negotiation, deception and manipulation, and the achievements that come from well-being. Say no to plagiarism. Get Custom Essay on “Why Violent Video Games Should Not Be Banned”?Get Original Essay Problem Statement.It was observed that in Nyarugenge Icyerekezo SACCO (NISACCO), like other UMURENGE SACCOs in Rwanda, microfinance has been applied as a poverty reduction strategy for women, based on the above context, it is evident that in most communities in Rwanda, women constitute a significant number of entrepreneurs since it is estimated that 42 percent of businesses are run by women and their main challenges are lack of funds. . It has been used to provide low-income people with small donations, microloans and other microfinance services to motivate them to harness their productivity and expand their businesses to help improve their livelihoods. This study focuses on mobilizing microfinance programs targeting women for development as With regard to closing this financial gap, if the particular prevention factors were effectively examined, the living conditions of Rwandan women would change significantly. Therefore, the aim of this study will be to find out how credit facilities are accessed and used and what benefits add to women in their development. In doing so, the study will provide information on the role played by microfinance in the socio-economic development of women in Rwanda. Objectives of the study. The objectives of this study are divided into two main objectives which are general objectives and specific objectives which are stated as follows. General objectives The general objective is to determine the role of microfinance in the socio-economic development of women in Rwanda. Specific objectives Find out how women have benefited from microfinance socially and economically. Establish the challenges faced by women in microfinance transactions. Discover the relationship between microfinance and socio-economic development. Determine the services provided by NYARUGENGE ICYEREKEZO SACCO to women. Research questions. The research was guided by the following questions: Is there an improvement in the economic status of women through.