Microfinance Loans and Economic Development: A Case of Kanungu Town Council, Kanungu District

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ABSTRACT The text section of the Dissertation is made up of 5 chapters presented in the order below, chapter 1 intToduction and Backgrom1d of the study, chapter 2 literatme reviews, chapter 3 Methodology, chapter 4 presentation and discussion of Major fmdings, chapter 5 smnmary, conclusion and recommendations, On introduction information on microfinance loans and economic development history was discussed as indicated in the Dissertation The problem statement was to fmd out the contributions of microfinance loans to the economic development of Kanungn people which was done and results were positive, where loans taken have improved on the economic wellbeing of the people as discussed in the chapter fom· of the dissertation, where Kanungu people have bought assets, paid fees for children, though there are some few instances where some members loose land in case of defaulting and being imprisoned. , the purpose of the study was to establish the relationship between microfinance loans and economic development in Kanungu Town councils, kanungn district. On the significance of the study the research is hoped to be useful to the researcher, to staff microfinance institutions, to the business people, to students and board of directors in their daily activities . On investigation, the researcher employed both qualitative and quantitative (Con-elation, cross sectional sm·vey design), to detennine the relationship between independent variable (Microfinance loans) and dependent vaiiable (economic development). This centred on years 2007-2010. The sample size used was 56 clients out of 300 members as the tai·get population and total population estimated to be 2744 The instruments that were used in the findings of the study are SAQs (self administered questionnaires) and interview guide, observation and discussion groups, which reseai-d1er assistants used in coordination with reseai·cher to get the needed data. The techniques used were sainpling strategies which involved selection of the respondents randomly in order to get the viable information to answer research questions. The results of the study in relation to the objectives and research questions were almost all positive indicating positive con-elations. The researcher recommends that bon-owers ai1d other members intending to join the microfinance institutions should do so, as they have helped many to meet the different needs of their faniilies, thus a great contribution to the gaps of knowledge For future researchers, the researcher recommends that the study should help them as a strong foundation in this ai·ea, and be able to find out the rate at which microfinance institutions have moved deep into villages (sub county levels) in the whole com1tly, or whether they ai·e meeting their visions and missions, and fill investigation into the impact of microfinance frauds in relation to the economic development of Kai1ungn people, that needs a systematic study or an educational finding.

TABLE OF CONTENTS

PAGE

Declaration ............................................................................. .i

Approval .............................................................................. .ii

Dedication ............................................................................ .iii

Acknowledgement ..................................................................... .iv

List of figures .......................................................................... v

List of abbreviations/acronyms ..................................................... vi

Abstract ...................................................................................... vii

Table of contents .......................................................................... viii

CHAPTER ONE: INTRODUCTION

1.0 Introduction .................................................................. 1

1.1 Background of the study ..................................................... 2

1.2 Statement of the problem .................................................... 5

1.3 Purpose of the study ......................................................... 5

1.4 Objectives of the study ...................................................... 5

1.5 Hypothesis/researnh questions ............................................. 6

1.6 Scope of the study ............................................................ 6

1.7 Conceptual framework ...................................................... 8

CHAPTER TWO: LITERATURE REVIEW

2. 0 Literature Review .............................................................. 10

2.1 The contribution of Microfinance Institutions loans on incomes of small

enterprises .................................................................... 10

2.2 Profitability from loans .................................................... 12

2.3 Relationship between Microfinance loans & economic development 14

2.4 Objectives ofMFis ............................................................ 22

2.5 The size of Microfinance Institutions ....................................... 22

V

2.6 Activities ofMicrofinance Institutions .................................... 23

2.7 Sources offunds ............................................................... 24

2.8 Challenges met by microfinance clients .................................. 24

2.9 Defining poverty ............................................................. 25

2.9 Government on poverty alleviation and development ................. 28

2.10 Growth ofMicrofinance institutions ..................................... 29

CHAPTER THREE: RESEARCH METHODOLOGY

3.0 Introduction ............................................................... .44

3 .1 Research design .......................................................... .44

3.2 Population of the study ................................................... 45

3 .3 Data collection tools ..................................................... .45

3.4 Data collection procedm·es ............................................... 46

3 .5 Data analysis ............................................................... .4 7

CHAPTER FOUR: PRESENTATION AND DISCUSSION OF MAJOR

FINDINGS

4.0 Introduction .......................................................................... 50

4.1 Discussion of results ................................................................. 50

4.2 Findings ............................................................................ 51-59

CHAPTER FIVE: SUMMARY, CONCLUSION AND

RECOMMENDATIONS

5.0 ~m=ry ........................................................................ 00

5.1 Conclusion ........................................................................ 62

5.2 Recommendations .............................................................. 63

References ............................................................................ .. 66

Appendices .............................................................................. 69



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APA

EDWARD, A (2022). Microfinance Loans and Economic Development: A Case of Kanungu Town Council, Kanungu District. Afribary. Retrieved from https://afribary.com/works/microfinance-loans-and-economic-development-a-case-of-kanungu-town-council-kanungu-district

MLA 8th

EDWARD, AKARAMBUZI. "Microfinance Loans and Economic Development: A Case of Kanungu Town Council, Kanungu District" Afribary. Afribary, 12 Oct. 2022, https://afribary.com/works/microfinance-loans-and-economic-development-a-case-of-kanungu-town-council-kanungu-district. Accessed 29 Mar. 2024.

MLA7

EDWARD, AKARAMBUZI. . "Microfinance Loans and Economic Development: A Case of Kanungu Town Council, Kanungu District". Afribary, Afribary, 12 Oct. 2022. Web. 29 Mar. 2024. < https://afribary.com/works/microfinance-loans-and-economic-development-a-case-of-kanungu-town-council-kanungu-district >.

Chicago

EDWARD, AKARAMBUZI. . "Microfinance Loans and Economic Development: A Case of Kanungu Town Council, Kanungu District" Afribary (2022). Accessed March 29, 2024. https://afribary.com/works/microfinance-loans-and-economic-development-a-case-of-kanungu-town-council-kanungu-district