Problems and Challenges of Microfinance Development in Ghana - Case Study of Opportunity International Sinapiaba Savings and Loans Limited (OI-SASL Ltd)
Abstract
The issue of providing adequate financial support to Small and Micro-Enterprises in poor and Developing Counties today has become very eminent in view of the potential that the Small and Micro-Enterprises sector holds in transforming the lives of the poor in society and the economy as a whole and the topic is currently discussed and debated worldwide. Although it has been established that the Small and Micro-Enterprises are the engine of growth for developing countries, the sector is beset with so many problems that hinders its efficient growth.The importance of this study relates to its contribution to the continued search for, and the debate on, the best ways of financing small and micro enterprises in Ghana, and in the developing world as a whole.The study focused on the identification and analysis of problems and challenges of microfinance development in Ghana. The study revealed that the major challenges facing the development of microfinance are funding, expansion, high cost of operation, IT infrastructure, government support, experienced management, the caliber of clients, and building the needed private support. It was realized that a solution to the funding problems of MFIs will see the industry fulfilling its vision of being the engine of growth of industries and alleviation of poverty.
Citations
IRE Journals:
Christian Budu Duodu
"Problems and Challenges of Microfinance Development in Ghana - Case Study of Opportunity International Sinapiaba Savings and Loans Limited (OI-SASL Ltd)" Iconic Research And Engineering Journals Volume 3 Issue 9 2020 Page 269-280
IEEE:
Christian Budu Duodu
"Problems and Challenges of Microfinance Development in Ghana - Case Study of Opportunity International Sinapiaba Savings and Loans Limited (OI-SASL Ltd)" Iconic Research And Engineering Journals, 3(9)
About IRE Journals
IRE Journals is an open access online journals established with an aim to publish high quality of research work in various diciplines. We have more than 6 years in publications. Over 2500+ papers already published.
Important Links
For Authors
Volume 7:
Issue 1, Issue 2, Issue 3, Issue 4, Issue 5, Issue 6, Issue 7, Issue 8, Issue 9, Issue 10, Issue 11, Issue 12Volume 6:
Issue 1, Issue 2, Issue 3, Issue 4, Issue 5, Issue 6, Issue 7, Issue 8, Issue 9, Issue 10, Issue 11, Issue 12Volume 5:
Issue 1, Issue 2, Issue 3, Issue 4, Issue 5, Issue 6, Issue 7, Issue 8, Issue 9, Issue 10, Issue 11, Issue 12Volume 4:
Issue 1, Issue 2, Issue 3, Issue 4, Issue 5, Issue 6, Issue 7, Issue 8, Issue 9, Issue 10, Issue 11, Issue 12Volume 3:
Issue 1, Issue 2, Issue 3, Issue 4, Issue 5, Issue 6, Issue 7, Issue 8, Issue 9, Issue 10, Issue 11, Issue 12