The Role of Microfinance in Africa: A Review of Outcomes From Ghana and Nigeria

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Author(s): Yahaya Alhassan (University of Sunderland in London, UK), Francis Kuagbela (University of Sunderland in London, UK), Caesar D. Nurokina (University of Sunderland in London, UK)and Bernard Appiah (University of Sunderland in London, UK)
Copyright: 2023
Pages: 22
Source title: Research Anthology on Microfinance Services and Roles in Social Progress
Source Author(s)/Editor(s): Information Resources Management Association (USA)
DOI: 10.4018/978-1-6684-7552-2.ch007

Keywords: Accounting & Finance / Accounting and Finance / Business & Management / Business Science Reference

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Abstract

This chapter examines the role of microfinance in developing countries, particularly Ghana and Nigeria. The chapter begins with an overview of the link between microfinance, poverty, and women empowerment in the chapter introduction. The background to the chapter sets out the main difference between microfinance and microcredit. The role of microfinance in contemporary development finance is then discussed. In this context, existing literature on the role of microfinance in reducing poverty, women empowerment, and microenterprise growth is extensively reviewed. Key solutions and recommendations are then presented next, followed by future research direction and the chapter conclusion.

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The Role of Microfinance in Africa: A Review of Outcomes From Ghana and Nigeria

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