Empowering Women Entrepreneurs in Ogun State Through Micorofinance: Challenges and Prospects

Abstract

Microfinance focuses on the extension of micro credit, savings and insurance and other financial services to the low-income earners of a nation. Microfinance programs have the power to influence, transform, empower the poor both men and women if appropriately administered. It has actually been recognized by the national government, donor agencies, and NGOs as the best strategy for achieving the objectives of gender equality, poverty alleviation, community development and women empowerment. This paper examined the challenges and prospects associated with the adoption of microfinance as an important tool for empowering women entrepreneurs in Ogun State, Nigeria. Both primary and secondary sources were used in gathering the data required for the research work. Conclusion and  recommendations were made based on the results obtained from the analysis of the data for policy and decision-making.

Keywords: Microfinance, women, poverty, empowerment