Abstract
The study focused on the use of financial markets by male and female entrepreneurs of small-scale enterprises. Business women and men who had received or applied for loans from non-bank financial institutions were interviewed. The non-bank financial institutions surveyed were the Uganda Cooperative Savings and Credit Union (UCSCU) and the Uganda Women’s Finance and Credit Trust (UWFCT). Respondents provided information on the financial services they used in the formal, semi-formal, and informal financial markets. They were also asked their perceptions on the delivery, accessibility, and use of financial services. Both gender groups indicated increased accessibility to credit as the main advantage of the semi-formal financial market. Most respondents only obtained loans from either UCSCU or UWFCT. Both UCSCU and UWFCT had flexible collateral requirements typical of semi-formal financial institutions. In addition to having savings accounts with UCSCU and UWFCT, most respondents had similar accounts in other banks. Few respondents kept savings with friends, relatives, or were members of an informal savings group. Women were more likely than men to have used informal markets to deposit savings or to borrow money. Gender differences in attitudes towards financial markets were insignificant and sometimes contrary to what is expected in the literature. Most women reported decision-making in financial matters. On the other hand, men were more likely to make joint decisions with spouses.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.