THE EFFECTS OF THE MICROFINANCE PROGRAMME OF INITIATIVE DEVELOPMENT-GHANA ON WOMEN CLIENTS IN NIMA, A SUBURB OF ACCRA

ABSTRACT The research investigated the effects of the microfinance programme by Initiative Development-Ghana on its women clients in Nima, a suburb of Accra. The main instrument used in the study was a structured interview designed to tap the views of the selected respondents who were clients of ID-Ghana on the effects of the microfinance programme on them and their nuclear family, (i.e. husbands and children). It was found out that, majority of ID-Ghana’s clients engaged in trading and had been doing business with ID-Ghana between the past three-to-five (3 – 5) years. They said the interest rate charged on loans was 10% and they were made to pay back within six (6) months. Beneficiaries of loans had savings which they did on daily Susu basis with ID-Ghana who also ensured that they organized training programmes for their clients to enable them improve on their businesses. The microfinance programme had brought massive improvement in the lives of their clients in terms of their ability to pay their ward’s school fees, utility bills and provided fairly balanced meals for their families which affected their health status positively. Clients had also seen expansion in their businesses. Women who were non-clients of ID-Ghana also had some effects as a result of the microfinance programme. The research concluded that, there was a positive correlation of gains from microfinance with improvement in standard of living. It also concluded that, microfinance had a positive effect on household consumption