4.4.2. DISCUSSION OF RESULTS FROM
INTERVIEW
We remind that some information have been obtained through
interview with a small group among Vision Finance Company Ltd staff and its
beneficiaries. We mention that all information have been completed by
observation on field for some projects and consulting some Vision Finance
Company Ltd documents. The results from interview have allowed us to draft the
contribution or impact of Microfinance on women empowerment, and the challenges
experienced by both sides: institution and beneficiaries (Women).
4.4.2.1. IMPACT OF MICROFINANCE ON WOMEN EMPOWERMENT
Since the most direct anticipated benefits of microfinance
concern are women clients' business, I shall begin with a discussion of the
effects of Microfinance program in that area. Running a successful business not
only contributes to women's improved welfare; it also contributes both directly
and indirectly to their economic empowerment. The interview held with Vision
Finance Company Ltd managing director showed that through microfinance
services, women's business become more successful in the following ways:
These services enable an increase in operating income that
affords women basic necessities, saving, self-esteem, and self-respect which
have improved relationships with families and communities, more strategic
planning and pricing, and diversification and expansion into more profitable
product lines.
Microfinance services ensure an increase in operating income
which is particularly important for women empowerment through generating their
own capital or have access to cash credit and provide women with considerable
more power and prestige in the marketplace.
4.4.2.2. CHALLENGES EXPERIENCED BY VISION FINANCE COMPANY LTD
IN OFFERING CREDIT
Women have limited knowledge for business transaction and
general business knowledge; this affects clients' business performance in term
of price negotiations and dealing with customers. Thus in turn affects income
returns which results into difficulties in their loan repayment. Product
diversification has been also a burden to Vision Finance Company Ltd clients;
where by majority of the borrowers have diversified their loan into other
activities leading to loan repayment failure.
4.4.2.3. CHALLENGES EXPERIENCED BY BENEFICIARIES (Women)
During the interview done with some women who have already
benefited microcredit from Vision Finance Company Ltd, we have noted certain
challenges. The main challenges may be related to the educational background,
where beneficiaries who have completed only primary level are more than other
respondents (94.3%). This may easily arouse some doubt about the success of
their business.
In general, the challenges faced by women in microfinance
services and in their business those are:
1. Few women clients still lack self-confidence to try other
business opportunities;
2. Limit educational background as it is big problem in the
improvement for women's business;
3. Excess household responsibilities that inhibit their
business concentration
4. The loan they received is not enough to satisfy their
business needs;
5. Lack of tangible assets or properties to be used for larger
loan guarantee or caution in the case an individual women encounters loan
repayment problem has been one of the challenges
Few of the interviewee, pointed out that family
responsibilities take a lot of women's time that could be applied for improving
their income generating efforts. Their responsibility for children care limits
their mobility and obliges them to generate income in less conducive
environment for business.
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