The Role Of Microfinance In Poverty Reduction Among Slum Women

Abstract

Poverty has been pressing issues in Africa where majority of the African countries are listed among the poorest nations in the world. Most of these countries lie in the subSaharanAfrica .Women in these countries are believed to be more than men inthe ranks ofthe poorest people on the earth. (Caroline Sweetman 2002).Lack of economic equality between men and women has led to women marginalization and subordination. Women continue to be poorer. In order to change this perception there is need to economically empower women .In this study microfinance intervention has been suggested as one of theways in which to alleviate poverty among the slum dwelling women. Micro finance ispromoted as the key poverty alleviation strategy to enable poor women to cope with .. adverse effect of economic and social impact of structural adjustment policies and globalization (mayoux 200I). Micro finance has enabled women to access savings and credit which gives them a greater economic role in decision making. (Mayoux 2001).the access to savings and credit facilities and women decision on what is being done with savings and credit strengthenswomen say in economic decisions of the house hold .this enables women to increaseexpenditure on wellbeing ofthemselves and their children. Theeconomic power of women will also improve the political power of women. Mainly because they will be motivated in policy and decision levels in society. (Mayoux2001).Women will have more barging power