Scovia Magara

Women Economic Empowerment Through Microfinance Institutions: Ethical Challenges to Women Economic Empowerment Through Microfinance Institutions in Uganda Scovia Magara

In Uganda, women especially those in rural areas have been identified as the majority among the poor with neither a steady income nor collateral to secure loans in formal banks. As a result, a variety of microfinance initiatives were designed combining financing and social inter-mediation strategies to enable the poor access credit using a member?s savings rather than formal collateral such as land. The government of Uganda and the private sector have invested a substantial amount of money towards achieving women?s economic empowerment through microfinance institutions. Despite this investment, information regarding women economic empowerment through the use of loan facilities is still lacking. This book analyses the factors that constrain women in the access and use of credit for economic empowerment. The main argument here is that provision of credit alone, is not sufficient enough to elevate the economic status of the poor. The main idea here is that women need to play an active role in their own empowerment by being facilitated to make informed business choices and participate in making decisions concerning the allocation and control of their income.