Abstract
The main purpose of the study was to assess the impact of Plan Ghana’s Microfinance Scheme on the livelihoods of female beneficiaries in the Lower Manya Krobo Municipality of the Eastern Region of Ghana. A descriptive survey design was adopted and 180 sample size was used. The study showed that the scheme had improved beneficiaries’ lives tremendously in areas of health, child education, personal development, and business sustainability. The study also recommended that Plan Ghana intensifies the training programme for its clients. Key words: Lower Manya- Krobo, microfinance, Plan Ghana, poverty reduction.
Highlights
Poverty reduction has been a major concern for successsive governments in Ghana over the years because it is believed to be the universally accepted way of achieving economic growth in the country
Since the mid 1990s microfinance or microcredit operations have been embraced as a cure for alleviating poverty in the world for women and women in rural areas
The delivery of micro credits to entrepreneurs of small and micro enterprises (SMEs) in developing countries is increasingly being viewed as a strategic means of assisting the so-called “working poor”
Summary
Poverty reduction has been a major concern for successsive governments in Ghana over the years because it is believed to be the universally accepted way of achieving economic growth in the country. Different economic policy reforms are pursued to achieve reduction, but the impact has not been felt by all, especially those in the rural areas (Obeng, 2011). Declared the year 2005 as the “Year of Microcredit.”. Since the mid 1990s microfinance or microcredit operations have been embraced as a cure for alleviating poverty in the world for women and women in rural areas. Microcredit seems to promise three things, that is to reduce poverty, empower women, and to enhance family planning knowledge and practices (Giersing, 1999). The delivery of micro credits to entrepreneurs of small and micro enterprises (SMEs) in developing countries is increasingly being viewed as a strategic means of assisting the so-called “working poor”
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