This document summarizes a research paper that examines the effect of microfinance interventions on empowering women entrepreneurs in Mogotio Constituency, Kenya. It focuses on the effects of microcredit, microsavings, and training. The paper reviews literature on concepts of empowerment, women entrepreneurs, and microfinance interventions. It describes the study objectives, hypotheses, and significance. The study uses a survey design to collect data from 80 microfinance institution members. Results show that microcredit and training positively affect empowerment, but microsavings does not. The study aims to provide recommendations to improve microfinance's impact and address gender issues.
Micro finance- P. SAI PRATHYUSHA ([PONDICHERRY UNIVERSITY)SaiLakshmi115
INTRODUCTION # MICRO FINANCE # COMPARISION OF MICRO FINANCE AND FORMAL BANKING # IMPORTANT FEATURES OF MICRO FINANCE # DIFFERENCE BETWEEN MICRO FINANCE AND MICRO CREDIT # ROLE OF MICRO FINANCE
Insurance is one of the emerging concepts in the recent period which involves huge investments in
Socio economic developments. The term "Micro insurance" first appeared as a new financial
service within microfinance and then developed into a sector of its own. Hence this paper discusses
the concepts of micro insurance in general.
Micro finance- P. SAI PRATHYUSHA ([PONDICHERRY UNIVERSITY)SaiLakshmi115
INTRODUCTION # MICRO FINANCE # COMPARISION OF MICRO FINANCE AND FORMAL BANKING # IMPORTANT FEATURES OF MICRO FINANCE # DIFFERENCE BETWEEN MICRO FINANCE AND MICRO CREDIT # ROLE OF MICRO FINANCE
Insurance is one of the emerging concepts in the recent period which involves huge investments in
Socio economic developments. The term "Micro insurance" first appeared as a new financial
service within microfinance and then developed into a sector of its own. Hence this paper discusses
the concepts of micro insurance in general.
International Journal of Humanities and Social Science Invention (IJHSSI)inventionjournals
is an international journal intended for professionals and researchers in all fields of Humanities and Social Science. IJHSSI publishes research articles and reviews within the whole field Humanities and Social Science, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Micro Insurance in India: A Gizmo to Vehicle Economic Development & Alleviate...iosrjce
The conditions for growth and the degree of inequality are two key factors that determine the extent of
poverty reduction from per capita economic growth. The lower the inequality levels the more positive effect
economic growth has on poverty levels. The link between economic development and human development is
dependent on the effectiveness of countries to convert income into better lives for all their citizens (UNDP
2000). The international development target of halving the proportion of people living in extreme poverty by
2015 can be attained by low-inequality countries without any change in their growth pattern and with lower
growth rates. However, high-inequality countries will only reach the target if growth is pro-poor and
significantly higher than in the past (twice that of low-inequality countries). If all countries belonged to the lowinequality
group then a forecasted growth of four per cent per annum would realize the target as early as 2005
(Hanmer et al 2000). So, this paper explores the idea of development and reduction of poverty, vulnerability and
inequality by micro insurance in India.
Indian agriculture sector experiences vicious circle of poverty which decelerate economic growth. Financial exclusion is one of the main reason of it. In India marginals and weaker sections are excluded from main stream of the economy. To achieve sustainable development, all sections of the people need to be come into main stream. This study is an attempt to understand the concept of financial inclusion, financial inclusion in India and micro finance. RBI defines “Financial Inclusion is the process of ensuring access to appropriate financial products and services needed by all sections of the society in general and vulnerable groups such as weaker sections and low income groups in particular at an affordable cost in a fair and transparent manner by mainstream institutional players”. The present study also tries to understand how micro finance lending facilitates the acceleration of financial inclusion. Micro finance lending is a strong weapon of financial inclusion. Micro credit provided by banks emerged as a major policy tool of financial assistance in the rural credit, particularly to the poor sections of the society. Micro finance by providing small loans and savings facilities to those who have been excluded from other formal services, acting as a key strategy for reducing poverty and discrimination.
Inclusive development means empowerment of weaker sections, SC/STs and women. In this context “financial inclusion “ owns its significance.
This study examined the effect of microfinance banks on the performance of women-owned enterprises in Benue State, Nigeria. The study focused on women entrepreneurs who are clients of selected Microfinance Banks in Makurdi Metropolis, Benue State. The study specifically examined the effect of microfinance loan services, microfinance saving services and microfinance training services on the performance of women-owned enterprises in Benue State. A survey design was adopted for the study and questionnaire was used for data collection. The population consists of 68 owners of women-owned enterprises in Makurdi metropolis, Benue State. A census sampling method was adopted and the entire population was used for this study. Simple percentages, mean and standard deviation were used for data presentation and analysis while regression analysis was used for test of hypotheses. Findings of the study revealed that microfinance loan services, microfinance saving services and microfinance training services have significant effect on the performance of women-owned enterprises in Benue State. The study concludes that microfinance banks services significantly affect the performance of women-owned enterprises in Benue State. The study recommended amongst others that microfinance banks should always give loans to female entrepreneurs in Benue State with low interest rates in order to encourage them to expand their businesses and improve their standard of living.
Best and Worst Places for Women EntrepreneursDevex
A study commissioned by the Inter-American Development Bank’s Multilateral Investment Fund ranks countries in Latin America and the Caribbean based on risks and support to women entrepreneurs.
Here they are from the worst to the best...
From e-commerce to financial services, women entrepreneurs are changing the narrative in the Indian startup ecosystem. Two years ago, women constituted only 10% of the total number of entrepreneurs in the country. Now, women run about 14% of business organizations in India, according to the National Sample Survey Organization.
International Journal of Humanities and Social Science Invention (IJHSSI)inventionjournals
is an international journal intended for professionals and researchers in all fields of Humanities and Social Science. IJHSSI publishes research articles and reviews within the whole field Humanities and Social Science, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Micro Insurance in India: A Gizmo to Vehicle Economic Development & Alleviate...iosrjce
The conditions for growth and the degree of inequality are two key factors that determine the extent of
poverty reduction from per capita economic growth. The lower the inequality levels the more positive effect
economic growth has on poverty levels. The link between economic development and human development is
dependent on the effectiveness of countries to convert income into better lives for all their citizens (UNDP
2000). The international development target of halving the proportion of people living in extreme poverty by
2015 can be attained by low-inequality countries without any change in their growth pattern and with lower
growth rates. However, high-inequality countries will only reach the target if growth is pro-poor and
significantly higher than in the past (twice that of low-inequality countries). If all countries belonged to the lowinequality
group then a forecasted growth of four per cent per annum would realize the target as early as 2005
(Hanmer et al 2000). So, this paper explores the idea of development and reduction of poverty, vulnerability and
inequality by micro insurance in India.
Indian agriculture sector experiences vicious circle of poverty which decelerate economic growth. Financial exclusion is one of the main reason of it. In India marginals and weaker sections are excluded from main stream of the economy. To achieve sustainable development, all sections of the people need to be come into main stream. This study is an attempt to understand the concept of financial inclusion, financial inclusion in India and micro finance. RBI defines “Financial Inclusion is the process of ensuring access to appropriate financial products and services needed by all sections of the society in general and vulnerable groups such as weaker sections and low income groups in particular at an affordable cost in a fair and transparent manner by mainstream institutional players”. The present study also tries to understand how micro finance lending facilitates the acceleration of financial inclusion. Micro finance lending is a strong weapon of financial inclusion. Micro credit provided by banks emerged as a major policy tool of financial assistance in the rural credit, particularly to the poor sections of the society. Micro finance by providing small loans and savings facilities to those who have been excluded from other formal services, acting as a key strategy for reducing poverty and discrimination.
Inclusive development means empowerment of weaker sections, SC/STs and women. In this context “financial inclusion “ owns its significance.
This study examined the effect of microfinance banks on the performance of women-owned enterprises in Benue State, Nigeria. The study focused on women entrepreneurs who are clients of selected Microfinance Banks in Makurdi Metropolis, Benue State. The study specifically examined the effect of microfinance loan services, microfinance saving services and microfinance training services on the performance of women-owned enterprises in Benue State. A survey design was adopted for the study and questionnaire was used for data collection. The population consists of 68 owners of women-owned enterprises in Makurdi metropolis, Benue State. A census sampling method was adopted and the entire population was used for this study. Simple percentages, mean and standard deviation were used for data presentation and analysis while regression analysis was used for test of hypotheses. Findings of the study revealed that microfinance loan services, microfinance saving services and microfinance training services have significant effect on the performance of women-owned enterprises in Benue State. The study concludes that microfinance banks services significantly affect the performance of women-owned enterprises in Benue State. The study recommended amongst others that microfinance banks should always give loans to female entrepreneurs in Benue State with low interest rates in order to encourage them to expand their businesses and improve their standard of living.
Best and Worst Places for Women EntrepreneursDevex
A study commissioned by the Inter-American Development Bank’s Multilateral Investment Fund ranks countries in Latin America and the Caribbean based on risks and support to women entrepreneurs.
Here they are from the worst to the best...
From e-commerce to financial services, women entrepreneurs are changing the narrative in the Indian startup ecosystem. Two years ago, women constituted only 10% of the total number of entrepreneurs in the country. Now, women run about 14% of business organizations in India, according to the National Sample Survey Organization.
Ed Jiminez from the Bangko Sentral ng Pilipinas speaks about the role Governance plays in Microfinance Institutions (Jan 29, PACAP Community Development Forum: Microfinance Amidst the Global Financial Crisis.
Performance Analysis of a sample Micro finance Institutions of Ethiopia by ...belay224358
Outreach and sustainability of Ethiopian MFIs
This study assesses the performance of Ethiopian MFIs in terms of various criteria set forth by the Micro banking Bulletin. Reaching the poorest customers, while at the same time being financially self-sufficient, is a challenge for the Ethiopian microfinance industry.
The study examines data from the MIX MARKET website for 16 Ethiopian MFIs. Study results indicate that Ethiopian MFIs performed well in terms of breadth of outreach, cost management, efficiency and productivity. They also charged low interest rates. They, however, are poor performers on depth of outreach. Findings indicate that these MFIs are:
Not reaching the poorest of the poor;
Allocating a lower proportion of their total assets to loans;
Not using their debt capacity properly;
Allocating more loan loss provision expense than the industry average, and have a high PAR.
The study also finds that MFI profitability and sustainability depend on its size. There is a trade-off between serving the poor and being operationally self-sufficient. Finally, MFI age correlates positively with efficiency, productivity. Use of debt financing also makes firms more productive.
Challenges Faced By Women Entrepreneurs In IndiaLatha setna
In the current business world, women entrepreneurs are playing a vital role and they have become important part of the economic development and social progress. Development Compared to other countries the development of women entrepreneurship is very low in India. The educated women have to go a long way to achieve equal rights and position because traditions are deep rooted in Indian society where the sociological set up has been a male dominated one. Despite all the social hurdles, Indian women entrepreneurs stand tall from the rest of the crowd and are applauded for their achievements in their respective field. This paper focuses on women entrepreneurs, reasons women become entrepreneurs, the challenges faced by women entrepreneurs and suggestions for the growth of women entrepreneurs.
FINANCIAL INCLUSION AND WOMEN EMPOWERMENT IN UGANDA A CASE OF LANGO SUB REGIO...ectijjournal
Women empowerment has taken a center stage in the present development agenda. The study examines the role of financial inclusion in supporting women empowerment in Lango sub region, Northern Uganda. Using both purposive and simple random sampling a Sample of 126 respondents was selected with a response rate of 100% realized. The study found out that financial support appeared to be sparse, The regulations, supervision and monitoring of some of these firms was lacking, causing many women to lose their savings with such firms. The study therefore recommended that Government should establish buffers to serve as collateral security for women who intend to secure financial credit. Financial service providers should lower down the costs of operating accounts for the financial inclusiveness of women, particularly women from rural areas. Government should tighten monitoring, regulating and supervisory policies of financial service providers to restore public trust in financial institutions in Uganda. Financial services providers, government and other development partners should offer both formal and informal business education training.
Micro Credit and Rural Women Entrepreneurship Development in Bangladesh: A Mu...Dr. Nazrul Islam
Micro credit programs have positive socioeconomic impact on rural women borrowers of Bangladesh. But it is also opined by the different corners that the micro credit programs do not help the borrowers to develop entrepreneurial capabilities except surviving. Thus, this paper aims at identifying the factors related to the development of entrepreneurship among the rural women through micro credit programs of the micro credit providers. A multivariate analysis technique such as, Factor Analysis was conducted to identify the factors related to entrepreneurship development. Structural Equation Modeling (SEM) was used to identify the relationship between micro credit program and the development of rural women entrepreneurship in Bangladesh. Results show that the financial management skills are the most important factor that has significant relationship with the development of rural women entrepreneurship. Results also show that the group identities of the women borrowers have significant relationship with the rural entrepreneurship development in Bangladesh. Borrowers experience from the parents’ families and the limitation of option also lead to the development of entrepreneurship among the rural women borrowers of Bangladesh.
What is the relationship between women’s empowerment and micro‐credit programmes? Micro‐credit, micro‐finance and micro‐enterprise are now seen as effective poverty alleviation mechanisms, especially for poor women. The 1997 Micro‐Credit Summit Campaign aims to ensure that “100 million of the world’s poorest families, especially the women of those families, receive credit for self‐employment and other financial and business services by the year 2005.” Many micro‐credit schemes specifically target women as they have proven to be very good credit risks with high repayment ratios even with credit at market rates. Proponents argue that as well as increasing women’s income, there are other benefits: • Improvements in women’s role in the household (i.e. through the provision of economic resources, a woman may gain a greater voice in expenditure decisions) • Increased confidence for women gained not only through the economic success of their business but also through increased access to community services and collective action with other women. • Changes at the community level in the perceptions of women’s roles. Yet there is now evidence that questions an automatic relationship between participation in a micro‐ credit (or micro‐enterprise) scheme and empowerment. Specific issues include: • Concerns have been raised that given women’s unequal position within the family, women’s loans may be ultimately controlled by male family members. • Despite increases in income, many participants report an increased overall workload, as there is no respite from their domestic responsibilities.
A Multivariate Model of Micro Credit and Rural Women Entrepreneurship Develo...Dr. Nazrul Islam
In Bangladesh, micro credit programs have positive socioeconomic impact on the rural women borrowers. However, it is perceived that the micro credit programs help the rural women borrowers to survive only and do not help them to develop entrepreneurial capabilities. Hence, this paper aims at identifying the factors related to the development of entrepreneurship among the rural women borrowers through micro credit programs. A multivariate analysis technique like Factor Analysis was conducted to identify the entrepreneurship development related factors. Structural equation modeling was used to develop a model of micro credit program and the development of rural women entrepreneurship in Bangladesh. Results show that the financial management skills and the group identity of the women borrowers have significant relationship with the development of rural women entrepreneurship in Bangladesh. The experience from the parent’s family of the borrowers and the option limit may also lead to the rural women borrowers to be entrepreneurial.
Bangladesh has enormous young women and productive workforce that will get an opportunity to involve in Small
and Medium Enterprises (SMEs) sector. This paper aims to investigate the factors that affect women involvement as
entrepreneur in SMEs sector, economic development and its impact on poverty reduction in Bangladesh. The study
adopts the quantitative analysis of possible factors that may affect women involvement as entrepreneur in SMEs
sector, economic development and its impact on poverty reduction. By using Convenient Sampling Technique, the
data has been collected from 300 respondents. Data are analyzed using frequency, mean, standard deviation and
regression analysis. From the outcomes of descriptive statistics analysis, the study is found that business experience,
business plan, practical knowledge, security, interest & hobby, others business house profits, adequate capital,
business registration procedures, qualified leaders & trainers, and bank & financial institutions support are affected
women involvement as entrepreneur in SMEs sector. From the results of regression analysis, this research is found
that economical, psychological, knowledge & skills, family, and legal & administrative as the essential factors,
which significantly affect women involvement as entrepreneur in SMEs sector in Bangladesh. The research is
revealed that women entrepreneur, long-term business success and employment creation as the vital factors, which
notably affect economic development. The study is also revealed that economic development as the critical factor,
which considerably affects poverty reduction. This examination may contribute to these women entrepreneur issues.
The results of this investigation can be applied by government and non-government organization, public institutions,
rural development academy, policymakers and even researchers to inspire women involvement as entrepreneur in
SMEs sector. The researchers strongly expect that this investigation creates value to the literature because it uses a
conceptual framework to give explanation the factors that affect women involvement as entrepreneur in SMEs
sector, economic development and its impact on poverty reduction in Bangladesh.
Effects of micro- finance institutions' services on sustainability of small e...inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online
Similar to Microfinance interventions and empowerment of women entrepreneurs rural constituencies in kenya (20)
NO1 Uk Divorce problem uk all amil baba in karachi,lahore,pakistan talaq ka m...Amil Baba Dawood bangali
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how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
Latino Buying Power - May 2024 Presentation for Latino Caucus
Microfinance interventions and empowerment of women entrepreneurs rural constituencies in kenya
1. Research Journal of Finance and Accounting www.iiste.org
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Microfinance Interventions and Empowerment of Women
Entrepreneurs Rural Constituencies in Kenya
Maru, Loice1
and Chemjor, Razia2
1. Department of Marketing and Management Science, School of Business and Economics, Moi
University, Bazaar Plaza,4th
Floor Biashara Street, P.O. Box 63056, post code 00200, Nairobi , Kenya,
Email: lcmaru@yahoo.com
2. Researcher and Alumnus, Master of Business Finance, Department of Accounting and Finance, School
of Business and Economics, Moi University, Bazaar Plaza,4th
Floor Biashara Street, P.O. Box 63056,
post code 00200, Nairobi , Kenya, Email: rchemjor@gmail.com
Abstract
Microfinance Institutions (MFIs) provide its members with financial and social intermediation services to help
improve their businesses. Despite a multitude of studies devoted to the topic, the effect of microfinance
intervention on the empowerment of women entrepreneurs in rural constituencies remains largely unexplored in
Kenya. This paper seeks to bridge the gap by establishing the effect of microfinance interventions on
empowerment of women entrepreneurs in Mogotio Constituency in Kenya. It focused on three specific
objectives to: determine the effect of micro credit on empowerment of women entrepreneurs, examine the effect
of micro savings on empowerment of women entrepreneurs and, finally establish the effect of training on
empowerment of women entrepreneurs. The paper adopts a causal survey research design through which 80
members of microfinance institutions (MFIs) in the study area were selected and data collected from them using
a structured questionnaire. Linear multiple regression was used to determine the MFI intervention constructs that
affected micro finance intervention. SPSS was used to generate the frequency distribution. Results show that
except for microfinance saving, other MFI interventions such as microfinance credit and microfinance training
significantly and positively affect empowerment of women entrepreneurs. The study makes policy
recommendations to guide development of microfinance interventions that are beneficial to the clients and other
stakeholders of the MFI institutions.
Keyword: Microfinance Interventions, Empowerment of Women Entrepreneurs; Constituencies in Kenya.
1. Introduction
1.1 Background of the Study
Women play a crucial role in the economic development of their families and communities but certain obstacles
such as poverty, unemployment, low household income and societal discriminations mostly in developing
countries have hindered their effective performance of that role. Therefore, most of them embark on
entrepreneurial activities to support their families. Studies have shown that women entrepreneurship could be an
effective strategy for poverty reduction in a country; since women are the worst hit in such situation (Ekpe et.al.,
2010). Empowerment of women is crucial for the emancipation of poverty and meaningful participation of
entrepreneurship development. Women continue to remain under represented and their success often remains
invisible and unacknowledged. It is assumed that increasing women’s access to micro finance will enable
women to make a greater contribution to household income and this, together with other interventions to increase
household well being, translate into improved well being for women and ability to bring about wider changes in
gender inequality (Biswas, 2008).
Access to financial services and the resultant transfer of financial resources to poor women over time have led to
women becoming more confident and assertive (CGAP 2011). Access to finance enables poor women to become
economic agents of change by increasing their income and productivity, access to markets and information, and
decision-making power. However, it has been noted that women entrepreneurs, especially in developing
countries, do not have easy access to microfinance support for their entrepreneurial activity and as such have low
business performance than their men counterparts. Since their rate of their participation in the informal sector of
the economy is higher than that of men microfinance factors could have positive effect on enterprise
performance (Ekpe et.al., 2010).
Micro finance institutions target women with the explicit goal of empowering them. Empowerment of women as
defined by (Kabeer, 1999) is the process by which those who have been denied the ability to make strategic life
choices acquire such ability. In actual effect these micro finance intervene and provide resources which include
access to and future claims to both material and social resources. They also provide agency such as the process
of decision making, negotiations, deception and manipulation; and achievement that are outcomes of well-being.
Mogotio constituency is located in the Koibatek district of the Rift Valley province in Kenya. According to the
Population Census report (2010), it has a population of 60,959 people. The constituency suffers from high
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unemployment rate just like many parts of Kenya. Opportunities to find salaried employment are few, especially
for illiterate or semi illiterate rural women. Therefore, women often seek means of livelihood from the informal
sector of the economy. But, in this sector, these women form a majority of clients of micro finance institutions
owing to the gender specific constraints that they face and the institutions attempt to provide interventions. Most
significant among these constraints is lack of access to credit which is often seen to be a major obstacle to the
improvement of women’s economic situation (Simojoki, 2003).
Based on the foregoing background, it is evident that in most rural constituencies in Kenya, women constitute a
significant number of entrepreneurs and their main challenge is lack of funds. Micro finance institutions have
come up to provide interventions that enable women to overcome some of the obstacles such as access to micro
credit to fund their new ventures and or expand existing ones. However, generally, the concept of women
empowerment has not been effectively addressed as the women entrepreneurs continue to remain under
represented and their success continue to remain invisible and unacknowledged. It is expected that increased
women access to micro finance would increase their income which would in turn translate to improved well
being and a wider change as well as enhance gender equality (Basu, 2006). Management skills and lack of
occupational experience in related businesses for many women entrepreneurs has been indicated as a constraint
to growth. Kibas (2006) identified lack of opportunities for management training, financial management,
marketing and people management, to be limitations faced by most women entrepreneurs. This study sought to
establish the effect of interventions provided by micro finance institutions on empowerment of women
entrepreneurs in Mogotio constituency by examining changes in financial growth, social status of the women and
empowerment effects such as increase in profits,income, increased asset ownership, employment opportunities,
food security, savings, housing ownership, fund availability and consumption.
1.2 Objectives and Hypotheses of the Study
The study sought to achieve the following specific objectives:
(a) To determine the effect of micro credit on empowerment of women entrepreneurs.
(b) To examine the effect of micro savings on empowerment of women entrepreneurs.
(c) To establish the effect of training on empowerment of women entrepreneurs.
Further the following three hypotheses were tested:
Ho1 There is no significant effect of micro credit on empowerment of women entrepreneurs.
Ho2: There is no significant effect of micro savings on empowerment of women
entrepreneurs.
Ho3: There is no significant effect of micro finance training on empowerment of women
entrepreneurs.
1.3 Significance of the Study
This papers adds to the body of knowledge on the contributions of micro finance institutions on empowerment
of women in rural constituency in Kenya as reflected by any change in their living standards at individual,
household or enterprise level. The results provide a framework for strategic initiatives and innovative ideas that
will lead to improvement of microfinance institution’s positive impact on the lives of their clientele who are
mostly women. The results are also invaluable to the government for determination and establishment of a
regulatory legal framework for the microfinance institutions’ in Kenya, which will ensure the realisation of the
institutions’ main objective of poverty eradication and best ways to address the gender specific issues.
Furthermore, the paper unveils the underlying factors that lead to economic non-sustainability of clients who
already have received micro finance services yet a significant impact is not realised.
2. Literature Review
2.1 The Concepts of Empowerment
Bennett (2002) describes empowerment as the enhancement of assets and capabilities of diverse individuals and
groups to engage influence and hold accountable the institutions which affect them. The conception of
empowerment is based on the notion of power; empowerment by definition means “enabling”, “giving, receiving
or obtaining power” or “giving the official or legal authority or the freedom to do something”. In addition,
empowerment is defined as the equalisation of power and the more efficient use of resources (Claassens, 1993).
Power can be defined as control over material assets, intellectual resources and ideology. Material assets can be
physical, human or financial; intellectual resources are knowledge, information and ideas; and control over
ideology signifying the ability to generate, propagate, sustain and institutionalise specific sets of beliefs, values,
attitudes and behaviour (Fernando, 1997). (Batliwala, 1994:129). According to UNIFEM (2000), the important
elements of women’s empowerment include gaining the ability to generate choices and exercise bargaining
power, developing a sense of self-worth, a belief in one’s ability to secure desired changes, and the right to
control one’s life.
Empowerment is about change, choice, and power. It is a process of change by which individuals or groups with
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little or no power gain the power and ability to make choices that affect their lives. The structures of power - that
has it, what its sources are, and how it is exercised - directly affects the choices that women are able to make in
their lives (Mayoux, 2001). The original definition of the term “women’s empowerment”, the so called
transformative approach, was meant to give a framework to and facilitate the struggle for social justice and
women’s equality through a transformation of economic, social and political structures on the national and
international levels (Bisnath et.al.,1999). Empowerment per se is not a measurable variable, and there is
disagreement whether it can be measured or not. Indicators used for its measurement such as mobility, economic
security, the ability to make purchases, involvement in major household decisions, relative freedom from
domination within the family, political and legal awareness, and involvement in political campaigning and
protests (Ackerly, 1995; Hashemi et al., 1996).
(Basu, 2006) has indicated that empowerment can be categorised into three types, namely:
Economic empowerment: women's access to savings and credit gives them a greater economic role in decision-
making through their decision about savings and credit. When women control decisions regarding credit and
savings, they will optimize their own and the household's welfare (Mayoux, 2000). The investment in women's
economic activities will improve employment opportunities for women and thus have a 'trickle down and out'
effect.
Increased well-being: access to savings and credit facilities and women's decision about what is being done with
savings and credit strengthens women's say in economic decisions of the household. This enables women to
increase expenditure on the well-being of themselves and their children.
Social and political empowerment: a combination of women's increased economic activity and control over
income resulting from access to micro-finance with improved women's skills, mobility, access to knowledge and
support networks. Status within the community is also enhanced. These changes are reinforced by group
formation, leading to wider movements for social and political change (Biswas, 2008).
Women's empowerment needs occur along the following dimensions: economic, socio-cultural,
familial/interpersonal, legal, political, and psychological. However, these dimensions are very broad in scope,
and within each dimension, there is a range of sub domains within which women may be empowered (Mayoux,
2000).
2.2 Women Entrepreneurs
Women entrepreneurs play a very crucial role in the economic development of their families and their countries
at large. Despite these, studies have shown that women entrepreneurs have low business performance compared
to their male counterparts yet the rate of women participation in the informal sector of the economy is higher
than males (Akanji, 2006). This situation can be attributed to factors that normally affect entrepreneurial
performance. These factors include lack of credit, saving, education or training, and social capital (Shane, 2003).
Some of the challenges facing women entrepreneurs include acquiring appropriate training (Walker et.al., 1999),
obtaining capital (Buttner et.al., 1997; Cater, 2000) and gender discrimination (Kleiman, 1998). Nelson, (1997)
asserts that women approach the entrepreneurial experience with disadvantages rooted to education experience
and therefore they often lack the knowledge of skills required to develop their business. Lack of capital to start
or run business has led women entrepreneurs to request for credits from micro-finance institutions (Ibru, 2009;
Kuzilwa, 2005). This is due to poverty, unemployment, low household and business income and inability to save
(May, 2009; Otero, 1999; Porter et.al., 2005; Roomi et.al., 2008).
Studies have also shown that women entrepreneurs, mostly in developing countries, lack the ability to save yet
savings are needed to protect income, act as a security for loan and could be re-invested in the business (Akanji,
2006). Savings as a micro-finance factor enable people with few assets to save, since they could make weekly
savings as well as contribute to group savings, and such savings are mobilized by the micro-finance institutions
for further lending to other clients (Mkpado et.al., 2007).
Women entrepreneurs, especially in developing countries also lack training (IFC, 2007) and entrepreneurial
process which is a vital source of developing human capital. Training also plays a crucial role in providing
learning opportunity for individuals to improve their skills, attitudes and abilities (Brana, 2008). In most
literatures, the effect of training on women entrepreneurs’ performance, especially in developing countries, has
not been adequately addressed. Studies supports the fact that majority of micro-finance institutions’ clients do
not have specialized skills, and so cannot make good use of micro-finance factors (Karnani, 2007), hence they
need training. Salaried employment provides prior business experience that is vital for enterprise success, yet
women entrepreneurs mostly in developing countries lack this (Brana, 2008). This further strengthens the need
for training as a micro-finance factor for the women entrepreneurs.
2.3 MicroFinance Interventions
Microfinance has been defined as the provision of financial services to low-income clients or solidarity lending
groups including consumers and the self employed, who traditionally lack access to banking and related services
(Ledgerwood, 2010). Microfinance involves offering of financial services for people barred from the time-
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honoured system because they cannot offer bank guarantees (Eufin, 2009). Financial services generally include
savings and credit; however, some microfinance organisations also provide training, insurance and payment
services (Ledgerwood, 2010).
2.4 Relationship between Microfinance Interventions and Empowerment of Women Entrepreneurs
The basic theory is that microfinance empowers women by putting capital in their hands and allowing them to
earn an independent income and contribute financially to their households and communities. This economic
empowerment is expected to generate increased self-esteem, respect, and other forms of empowerment for
women beneficiaries. Involvement in successful income-generating activities should translate into greater control
and empowerment. Closer examination shows, however, that this equation may not always hold true and that
complacency in these assumptions can lead MFIs to overlook both opportunities to empower women more
profoundly and failures in empowerment (Cheston and Kuhn, 2006).
The objective of micro-finance is to empower women economically and socially. Providing access to micro-
finance for women is considered to be a precondition of poverty alleviation and women’s empowerment
(Mayoux, 1997). Loans enable women to invest in and expand their business, and in consequence they are able
to employ. They are also introduced to the banking system and their productive activity is integrated into the
formal financial system. Moreover, loans engage entrepreneurs in making major decisions, such as loan
approvals and in improving the products and services produced (Charitoneko et al., 1998). It is argued that
micro-finance empowers women by strengthening their economic role, increasing their income and ability to
contribute to the family income, increasing their employment and productivity, helping them to establish their
identity independent of the family, and giving them experience and self-confidence in the public sphere (Sinha,
1998).
2.4.1 Micro Credit and Empowerment of Women Entrepreneurs
Studies have indicated that micro finance brings about increased income due to accessibility of micro credit and
training on how to manage it, increased assets which are bought due to availability of funds and also increased
welfare in aspects such as food security, housing and health (Mayoux, 2001). Inaccessibility to credit and lack
of training has been cited by K-REP (1995) as the major setbacks to women venturing into business. Other
research studies report limited purchasing powers, particularly in the rural areas, lack of management skills,
physical infrastructure and seed capital (Alila, 1993). Addressing the need for credit is thought to be an effective
development tool, but no one is arguing that indebtedness is an effective development tool. Indebtedness is not
desirable for entrepreneurs; it creates some liabilities, such as regular repayments and interest. It also makes
great demands on business (Ackerly, 1995:56). Women’s access to credit and their contribution to family
expenses are both seen to be necessary, but not sufficient, for achieving empowerment. These two factors are
also mutually reinforcing. (Hashemi et al., 1996 in Kabeer, 2001). Thus it is hypothesized in this study that:
Ho1: There is no significant effect of micro credit on the empowerment of women entrepreneurs
2.4.2 Micro Savings and Empowerment of Women Entrepreneurs
The opportunity to save rather than access to credit would lever the poor out of poverty (Buckley, 1997;
Robinson, 1996). Moreover, some of the poor people are willing only to save, not to borrow. The ability and
opportunities to save also serve as protection against illness and occasional unemployment (Rhyne and Otero,
1992:1562). It should also be noted that the non-material advantages of saving for low-income micro-
entrepreneurs include among others the fact that saving promotes the borrowers’ own responsibility and self-help
and familiarises them with prompt repayment (Gulli, 1998:66-67). The saving requirement is also testing
members’ ability and willingness to repay their loans. Näslund et .al. (1993) show that women who have
contributed more to their own savings have a higher repayment level. A possible reason is that those women are
already accustomed to accumulating savings or contributing regularly. From the above discussion, it is
hypothesized that:
Ho2: There is no significant effect of micro savings on empowerment of women entrepreneurs.
2.4.3 Training and Empowerment of Women Entrepreneurs
Women operating where large proportions of the population live in absolute poverty, face several major
constraints. These include their inability to judge the profitability of their operations due to a lack of basic
accounting skills, insufficient technical and business management skills as well as socio-cultural constraints
(UNIDO, 2003). Taking cognizance of the peculiar situations of most women in developing countries in terms of
poverty, low educational levels and other societal discriminations (Porter et.al., 2005; Roomi et.al., 2008);
training is a very important micro-finance factor for women entrepreneurs as it would provide the skills and
experience needed for business (Akanji, 2006, Cheston et.al., 2002; Kuzilwa, 2005). Women who manage to
start business have been cited as having problems at the growth stages such as inadequate working capital, poor
technical and managerial skills, lack of marketing techniques, lack of work sites and security and basic
infrastructure, hostile business environments, poor project and planning skills and lack of information on the
available assistance programmes (Alila, 1993). This led to development of the NGOs training intervention
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programmes. However, a gap still exists in empirical literature of effect such programmes have had on the
performance of women in enterprises. Some studies confirm that skill training and tertiary education have
positive effect on enterprise performance (Akanji, 2006; Kuzilwa, 2005). Therefore it can be hypothesized that:
Ho3: There is no significant effect of micro finance training on empowerment of women entrepreneurs.
From foregoing review of literature, it is evident that a lot of research on microfinance has concentrated on a
broader nationwide perspective, with little or no attention to the rural constituency contexts. Also, although some
studies have been done on the resultant of effect of micro finance intervention from a general perspective, no
study has attempted to establish the extent of empowerment that arises from these interventions. Hence, this
study sought to fill two research gaps.
2.5 Conceptual Framework
In conceptualising this study, two variables were taken into consideration: microfinance interventions (constructs)
which include micro credit, micro savings and training; and empowerment of women entrepreneurs representing
the independent and the dependent variables respectively (Figure 1).
3. Research Methodology
3.1 Research Design
The study was “cause-and-effect” in nature and thus an explanatory cross-sectional survey research design was
used which aimed at establishing the effect of microfinance intervention on empowerment of women
entrepreneurs. A deductive approach and quantitative measurement of variables was used to describe measure or
explain a phenomenon and also to interpret and understand a phenomenon (Patel and Tebelius, 1987). This
corresponded with the aim of this study to determine the effect of microfinance intervention on empowerment of
women entrepreneurs.
3.2 Target Population
The population of interest consisted of all women entrepreneurs who were members of microfinance institutions
within Mogotio constituency, Koibatek District in Kenya. The women who were considered as entrepreneurs,
were those who owned and ran business and had a physical presence (shop, workshop, house from where the
business operates) with contact details which enabled the researcher to trace them and collect the questionnaires.
3.3 Sampling Design
The study adopted multiple sampling techniques. First, the study took a census of the four microfinance
institution (MFI) who participate actively in the constituency. Secondly, stratified random sampling design was
used to identify and pick subjects who are clients for each MFI institution to allow for equal representation of the
institutions. Quota sampling was then used to select two (2) clients of each MFI from each of the 10 Wards in
the constituency, using simple random sampling based on the Clients’ lists as sampling frames.
Table 1
3.4 Data Collection
Diverse types of data were collected and triangulation of methods of data collection was employed at various
stages of the study. Both primary and secondary data were used. Primary data was collected using the survey
method in order to solicit opinions of the female microfinance clients and enable the capturing of attitudes,
knowledge and perceptions. Secondary data was collected from various sources including institution records,
archives and libraries to build up the literature review.
A structured questionnaire was used to collect primary data from the women entrepreneurs while discussions
with the officials of MFIs were conducted and data captured using an interview guide. Questionnaires were
administered by the researchers to the respondents during the monthly visits carried out by the credit officers.
3.5 Validity and Reliability of Research Instruments
To achieve reliability, the database was verified for accuracy and completeness of all the entries. Validity was
checked by ensuring a relevant literature was reviewed to understand and correctly measure the concepts under
study. In order to ensure that the questions in the questionnaire reliably measured the same latent variable
(feeling of safety), the Cronbach's alpha was run using the Statistical Package of Social Science and values ≥ 0.7
were considered acceptable (Hair, et al., 2005).
3.6 Data Analysis and Presentation
The data collected was analyzed by using both descriptive and inferential analysis. Descriptive statistics such as
measures of central tendency and percentages were used. The mean was calculated and was preferred because it
took into account all (each) score in the distribution therefore the effect of very low or very high was reflected in
the mean and was stable. This analysis allowed distinct comparisons of outcomes and conclusions to be made
from the findings.
Inferential statistics such as Pearson Product Moment Correlation and Multiple Linear Regression analysis were
used. This was achieved through the use of Statistical Package for Social Scientists (SPSS) and Microsoft Excel.
The analysis sought to test the hypothesis of the study and explain the associations and dependencies between
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the variables. The output was presented in terms of tables. Since the objective of this study was to establish
causal relationship between the dependent and the independent variables in the model, the Multiple linear form
of the regression was run. Ordinary least square (OLS) technique was used to estimate the parameters of the
model. This was because with the normality assumption for e, the OLS estimators were normally distributed and
they were said to be best unbiased estimators (BUE) (Gujarati, 1995). The regression analyses was run stepwise
using the SPSS package so as to determine the order of importance of the explanatory variables in explaining the
variations observed in the dependent variable. The model was specified as follows:
Y= β0 + β1.X1 + β2.X2 + β3.X3 +ε
Where: Y = Empowerment of women entrepreneurs; X1= Micro credit; X2= Micro savings; X3=Microfinance
Training; β0=Intercept term Empowerment of women entrepreneurs; β1= coefficient of Micro
credit
β2= coefficient of micro savings; β3= coefficient of microfinance training.
4. Results
4.1 Descriptive Findings of Micro-Finance Interventions and Empowerment of Women
Entrepreneurs
It was deduced from the findings that loan eligibility requirement is easily met as shown by an agreement by 51
(64%) of the respondent. Loan application procedure is also easy as shown from the response rate where 50
(63%) agreed. The design of loan product is deemed to be appropriate since 35 (44%) of the respondents agreed
to the statement. However on average, the women entrepreneurs neither agreed nor disagreed as to whether the
interest rates charged by the micro finance institutions were appropriate. Generally, the mean score to items
measuring the micro credit intervention was more than average (Mean = 3.6097; Standard Deviation = .67180)
(Table 2) meaning that the women were more than indifferent in their feelings and tended towards affirming to
every aspect.
On savings, the results show that (45, 56%) of the women agreed that there is voluntary saving in the institutions
at affordable rates (80%). However, some of the women find the procedure of withdrawing the savings is
difficult (47, 49%), also for depositing the institutions are within their proximity (50, 63%). It was generally felt
by the women that the institutions observe confidentiality (58, 73%). Results also show that micro savings has
very little effect on empowerment of women entrepreneurs. This is because on average, the women felt that the
design of the micro saving product was not appropriate, that the procedure for withdrawal of savings was too
difficult and, and that the time taken to effect the withdrawal was too. In fact, the mean score to items measuring
the microfinance saving was lower than the average (Mean = 3.3875; Standard Deviation = .64836) (Table 2)
meaning that the women were indifferent in their feelings and tended towards disaffirming appropriateness of the
intervention.
On microfinance training, 61% of the respondents agreed that there is training in the microfinance institutions,
while 64% found the training to be appropriate and 85% of them found the venue for training convenient. The
topics taught were found to be relevant (68%). This implies that the women are comfortable with the type of
training they get from the microfinance institutions and hence is likely to empowerment them. Generally, the
mean score to items measuring the micro credit intervention was more than average (Mean = 3.6542 Standard
Deviation = .71343) (Table 2) meaning that the women were more than indifferent in their feelings and tended
towards affirming to every aspect.
Empowerment of women entrepreneurs was measured by changes in profit, income, ownership of assets,
employment opportunities, food security, increased savings, housing ownership, fund availability, increased
consumption and decision making power of the women entrepreneurs. Apart from ownership of housing, the
mean response of the rest of the indicators tended toward an agreement (Table 2).
Table 2
4.2 Association between Micro-Finance Intervention Constructs and Women Empowerment
The ultimate goal of this analysis was to establish relations between variables. Correlation coefficients measure
the extent of these relations. Each such coefficient must lie between -1 and +1, inclusive. A positive coefficient
indicates a positive association whereas a negative coefficient indicates a negative association between the
variables. Since all r-values are positive, then the relationships of the independent variables with the dependent
variable are positive. Results (Table 3) indicate that there is a moderate positive correlation between women
empowerment, micro-credit and a strong positive correlation with microfinance training These correlation
coefficients were found to be statistically significant with p-values (p=0.000<0.05) at 95% confidence
level. Similarly, the correlation between micro-credit, micro-savings and micro-finance training exhibited a
moderately weak positive relationships. Their correlation coefficients p-values of p=0.000<0.05 and
p=0.001<0.05 respectively implying that they are statistically significant at the 95% confidence level. Micro-
savings and micro-finance training exhibited a moderate and positive correlation. This relationship was found to
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be statistically significant at the 95% confidence interval as it had a p-value of p=0.000<0.05.
4.3 Relationship between Micro-Finance Interventions and Empowerment of Women Entrepreneurs
Linear Multiple Regression analysis was performed to establish the effect of Micro-Finance Constructs on
Empowerment of women entrepreneurs. Multicollinearity, a situation where more than two independent
variables are highly correlated and is known to have damaging effect on multiple regression was measured using
Variable Inflation Factor (VIF). Large values, usually 10.0 or more, suggest collinearity or multicollinearity.
Results (Table 4) however, show that the three predictors of the empowerment of women entrepreneurs, did not
suffer from this problem.
From the results of the regression analysis (Table 4), the following regression model is fitted.
= ( . )
.
+ ( . )
.
+ ( . )
.
+ ( . )
.
+ 0.436
The model implies that all factors held constant, women entrepreneurial empowerment is 63.0%. Similarly, the
change in women empowerment is 27.1% for each unit change in micro-credit; 3.1% for each unit change in
micro-savings and 51.5% for each unit change in micro-finance training. The parameters of the dependent
variables are positive implying that the direction of change is positive, that is as the independent variables
increase, the dependent variable increases and vice versa. The p-values, in parenthesis, indicate that the constant,
p=0.145>0.05 is not statistically significant at the 95% confidence level. Correspondingly, the coefficients’ p-
value for micro-savings, p=0.796>0.05 indicate that the result is not statistically significant at the 95%
confidence level. On the contrary, micro-credit, p=0.007<0.05 and microfinance training, p=0.000<0.05 were
found to be statistically significant at the 95% confidence level. The error term was found to be 0.436 implying
that other variables not captured by the model influencing women empowerment is 43.6%.
The results imply that since the p value for micro-credit, p=0.007<0.05 which is less than the significance level,
then the null hypothesis that there is no significant effect of micro credit on empowerment of women
entrepreneurs is rejected. Thus the alternative hypothesis is accepted. Secondly, the p value for micro-savings,
p=0.796>0.05 which is higher than the significance level, then the null hypothesis that there is no significant
effect of micro savings on empowerment of women entrepreneurs is accepted. Finally, the p value for micro
finance training, p=0.000<0.05 which is less than the significance level, then the null hypothesis that there is no
significant effect of micro finance training on empowerment of women entrepreneurs is rejected. Thus the
alternative hypothesis is accepted.
Table 4
4.2.1 Analysis of Variance
The purpose of analysis of variance was to test differences in means (for variables) for statistical significance.
This is accomplished by analyzing the variance; that is, by partitioning the total variance into the component that
is due to true random error and the components that are due to differences between means and testing for
statistical significance to lead to a conclusion that the means (in the population) are different from each other nor
not. Results show that for this study, (Table 5) p=0.000<0.05, which implies that the means of the independent
variables and the dependent variable are statistically different from each other at the 95% significance level.
Table 5
5. Conclusions and Implications
The design of the micro credit product is appropriate and it has empowered women entrepreneurs who are micro
finance clients. This is because majority of the women find the loan eligibility requirement easy to meet. They
also find loan application procedure as easy. The loan product design is also appropriate to them. This is in
agreement with (Charitoneko et al., 1998) who note that loans enable women to invest in and expand their
business, and in consequence they are able to employ and that loans engage entrepreneurs in making major
decisions, such as loan approvals and in improving the products and services produced. However, the design of
the micro saving product is appropriate because the women entrepreneurs felt that the procedure for withdrawing
the savings was difficult and took so long, so there should be a research on how to improve on this. The findings
of this study differ from those of (Rhyne and Otero, 1992) who report that some of the poor people are willing
only to save, not to borrow. This does not hold in the situation in Kenya as the women entrepreneurs found the
design of micro savings was inappropriate. It can also be concluded that the women are comfortable with the
type of training they get from the micro finance institutions. This is because a majority of them found the venue
of training convenient and relevance of the topic taught. There should be a change in the frequency of training
since majority of the women felt that it should be increased to enable them learn more. Just like the findings of
(Akanji, 2006, Cheston et.al., 2002 and Kuzilwa, 2005) this study established that training is a very important
micro-finance factor for women entrepreneurs as it would provide the skills and experience needed for business.
In summary, the findings of this study are in line with (Mayoux, 2001) who suggests that micro finance
institutions brings about increased income due to accessibility of micro credit and training on how to manage it,
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increased assets which are bought due to availability of funds and also increased welfare in aspects such as food
security, housing and health. Therefore, this study has brought to light the need to improve the design of micro
savings in order to suit the needs of the women entrepreneurs.
6. Recommendations
Arising from the conclusions, the following recommendations are made:
(a) The regulators of micro finance institutions should have a policy that will regulate the rate of interest
charged as the women entrepreneurs felt that the interest rates were too high and hence some were
reluctant to take loans.
(b) Micro finance institutions should reduce the cost of training sessions or provide it as a complementary
free service for the first year to all their clients in order to allow a larger number of women entrepreneurs
to access training and hence get empowered.
(c) The design of micro savings should be changed so that it can be aligned to the client’s needs such that,
withdrawal procedures should be made more easy and the time period for consequent withdrawals be
reduced.
(d) Micro finance institutions should embrace the lasts technology in order to enable electronic transfer of
funds. For example mobile banking will make it easier for clients who are in the interior parts of the
region to deposit their savings. Also linking up with and utilizing the Mpesa innovation, as a success story
by Safaricom mobile phone provider in Kenya would enable rural women entrepreneurs to access credit
and savings facilities easily.
(e) Micro finance institutions should come up with a product geared towards the improvement of the life and
enterprises of women entrepreneurs specifically.
6.1 Suggestion for Further Research
This study could be further developed by including more variables as mediating, moderating and or intervening
in the regression model with a larger sample size. The results of which should be compared with those of this
study so as to establish the relationship between micro finance intervention and empowerment of women
entrepreneurs using different micro finance intervention variables. Further, a study should be carried out in other
constituencies since this involved Mogotio constituency only. This will establish more factors that are affecting
the empowerment of women entrepreneurs in different constituencies of different setting such as rural versus
urban based.
7.0 Limitations of the Study
This study assumed the definition of women entrepreneurs to incorporate women who participate in business
activities from a known and traceable location. However, the measurement of personal characteristics that often
define an entrepreneur was down played. Future studies may use this indicator as a mediating/moderating
variable to see whether the results will be different.
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Figure 1: Effect of Microfinance Interventions on Empowerment of Women Entrepreneurs
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Table 3: Correlations between the MFI Interventions and Women Empowerment
Empowerment of
women entrepreneurs
(Y)
Micro credit (X1) Micro savings
(X2)
Micro finance
training (X3)
Pearson
Correlation
Empowerment of women
entrepreneurs(Y)
1.000 .449 .389 .605
Micro credit (X1) .449 1.000 .444 .331
Micro savings (X2) .389 .444 1.000 .480
Micro finance training (X3) .605 .331 .480 1.000
Sig. (1-
tailed)
Empowerment of women
entrepreneurs(Y)
. .000 .000 .000
Micro credit (X1) .000 . .000 .001
Micro savings (X2) .000 .000 . .000
Micro finance training (X3) .000 .001 .000 .
Table 4: Regression coefficient
Coefficients
Model
Unstandardized
Coefficients
Standardized
Coefficients
t Sig.
Collinearity
Statistics
B Std. Error Beta Tolerance VIF
1 (Constant) .630 .428 1.472 .145
Micro credit( X1) .294 .106 .271 2.784 .007 .785 1.273
Micro savings (X2) .031 .118 .027 .259 .796 .678 1.475
Micro finance training (X3) .515 .102 .503 5.061 .000 .752 1.330
Model
Summary
R = .660a
Adjusted R Square = .414
Std. Error of the Estimate = .55953
R Square Change = .436
Sig. F Change = .000
a. Dependent Variable: Empowerment of Women
Entrepreneurs (Y)
b. Predicators: Constant), X1, X2, X3
Table 5: ANOVA Analysis
Model Sum of Squares df Mean Square F Sig.
1 Regression 18.406 3 6.135 19.597 .000a
Residual 23.793 76 .313
Total 42.200 79 .000
a. Predictors: (Constant), X1, X2, X3
b. Dependent Variable: Y
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