Effects of micro-finance on the livelihoods of women groups in Ghana

Governmental and non-governmental organizations (NGOs) in Ghana have introduced microfinance programs offering financial services to specifically women. Yet, there have not been any substantial improvement in the standard of living and quality of life of these women. The study, therefore, sought to find out whether the BAREC microfinance activities made any impact in the lives of the individual beneficiaries, and in their communities at large. There was personal field observation of the study area. Purposive sampling method was used to select the respondents for the study. The study involved the use of semi-structured questionnaires, focus group discussions and key informant interviews to obtain primary information. Secondary data for the study were also collected from relevant literature on similar studies including research publications, articles, BAREC project reports and newsletters. The study found out that majority of women in the study area do not have basic education and some were also relatively new to savings and ways in running microenterprises. The BAREC revolving loan scheme, therefore, gave these women the opportunity to gain experience and build up their confidence.