The Role of Microfinance Institutions on the Economic Empowerment of the Rural Women in Ibakara Community, Korosub County, Gulu District, Uganda.

ABSTRACT

The study investigated the role of FINCA micro finance institutions on the economic empowerment of the rural women in Ibakara community, Koro sub-county, Gulu, Uganda. The study objective were to, tina -&m whetA. ~ iw:al uz.ornf'A .in Thakar.a .community haY~ aC..Q.~ to FINCA microfinance institution services/ activities, to find out the level of benefits/ satisfaction from FINCA microfmance institution among members of lbakara community, to determine whether there is insignificant relationship between FINCA micro finance institution activities and the economic empowerment of the rural women in lbakara community. It was hypothesized that there is significant relationship between FINCA microfinance institution services/activities and economic empowerment of the rural women in lbakara community. The study used descriptive research design with qualitative and quantitative methods of data analysis. The study used sample of 1 00 respondents, and random sampling technique was used to sample the respondents of the study. The findings were analyzed using descriptive statistics. The findings on demographic characteristics of the respondents revealed that there were variations in the respondent's sex, age, occupation, marital status, educational level. The variation affected and influenced individual perception on the role of micro finance institution on the economic empowerment of the rural women in lbakara community, Koro sub-county, Gulu, Uganda as the respondents provided varied opinions on the topic. The analysis of the study findings bears in mind the influence of the respondent's background. The findings on the objective one revealed that 46% of the respondent agreed with the statement, 35.0% disagreed with the view, 19% was undecided. Results on the objective indicated that rural women in lbakara community have access to FINCA microfinance institution services/ activities, objective two revealed high level of benefits/ satisfaction from FINCA microfinance institution among members of lbakara community as 59% of the respondents agreed with the statement,26% disagreed ,15% were undecided , finding on objective three revealed that there is insignificant relationship between FINCA microfinance institution activities and the economic empowerment of the rural women in Ibakara community as 54.8% of the respondents agreed with the statement, 29.8 disagreed with the statement while 15.4%. viii - A - - - _.-__- 1" The last objective shows correlation on relationship between FINCA microfinance institution activities and the economic empowerment of the rural women in Ibakara community. This results shows that the FINCA microfinance and economic empowerment ofthe rural women had p value ofO.OO on the microfmance and economic empowerment of women and r value of .072. The alpha significant level was 0.00 l.since the P value is less than the alpha value; the researcher had taken the alternative hypothesis that there is significant relationship between FINCA m1crofinance frisntutions and economic empowerment of women .and since r value is greater than 0.5 then there was strong relationship between FINCA micro finance and economic empowerment of women in Ibakara community. The recommendation of the study were; the government and non-governmental organization should extent the micro finance services to all the women in the area as some of the women in the area have not got opportunity to micro finance institution services so that all of them are empowered. Microfinance campaign should be done by all stakeholders , all community leaders ,microfinance members and all the women groups in the community to creates a awareness among women and other community members who have little knowledge and idea about microfinance services and it's benefits to them. Report should be made yearly or quarterly or mid-yearly to reflect the performance of those already enrolled in the program and program outlined to motivate those already participating and challenging those who are ineffective. The official of FINCA microfinance institution should organized for members I nonmembers forums, workshops, field work and study tours that will enable them to interact and awards given periodically to the most active participants in the group