Microfinance Services and Promotion of Activities of Women Entrepreneurs

Abstract

This study examined ways microfinance services promote the activities of women entrepreneurs in Cross River State with Alache as a case study. Specifically, the study determined ways access to credit services and business support services of Alache Microfinance Bank (AMB) promote activities of women entrepreneurs in Cross River State. The study used a survey research design. Population was made up of 270 women entrepreneurs who were beneficiaries of AMB's microfinance programmes. Instrument for data collection was questionnaire. Data were analyzed using mean and standard deviation. Results reveal 12 ways access to credit services of AMB promote activities of women entrepreneurs in Cross River State. These include, among other, access to credit encourages women entrepreneurship to get credit as business loan interest rate is low (X̅= 3.92). Also, business support services of AMB promote activities of women in 11 ways, including, financial advisory services improve the knowledge of women entrepreneurs in managing their finances (X̅= 3.85) and others. Based on the results, the study made three recommendations, including; expanding microfinance services to more rural areas, providing flexible conditions, and integrating financial literacy programmes into the services.