Top PDF Institutional Entrepreneurship in Ghana’s Informal Microfinance Institutions

Institutional Entrepreneurship in Ghana’s Informal Microfinance Institutions

Institutional Entrepreneurship in Ghana’s Informal Microfinance Institutions

The multiplicity of MFIs has resulted in different practices and an effort to meet client demands have led to divergent changes in their daily operational strategies. The pressure from clients to meet their financial demands constitute the disruptions within the financial environment. The use of collective action through group savings and borrowing led to the design and implementation of group loan schemes, an innovative way of mopping up savings and ensuring a secured loan for clients within each group. Some Savings and Loans as well as the rural banks also have adopted this method in disbursing financial loans which require no collateral as members serve as security on the loan. The segmentation of financial support schemes with low rates of interest is phenomenal in the work of the MFIs. Individual clients according to the MFIs could be allowed to borrow low principal amounts and interests paid on monthly basis until the principal is fully paid up. The segmentation in the financial needs helps the MFIs to profile their customers according to an MFI Supervisor. It‟s a great feature that incorporates all levels of income earners. It forms part of the membership strategy (Lawrence, 1999) as these customers brace up the savings habit. It is important to note that in less matured environments, restrictions are needed for implementation in a bid to set standards and have normative bodies play prominent roles in structuring and providing professionalism for the institutional entrepreneurs.These normative carriers do not pertain only to the definition of a professional identity (Hughes, 2003), professionalization (DiMaggio, 1991) and setting standards (Garud et al.,2002).
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Bridging the SME Financing Gap in Ghana: The Role of Microfinance Institutions

Bridging the SME Financing Gap in Ghana: The Role of Microfinance Institutions

South Africa passed two laws in early 2005 to expand the banking system to include savings and loan institu- tions (second-tier banks) and co-operative banks (third-tier banks) while easing banking regulations so the new- comers could still be flexible in providing loans. In many countries, commercial banks are also setting up their own micro-credit services. Removing the obstacles to access for SMEs’ to finance requires that commercial banks, micro-credit institutions, community groups and business development services (BDS) work closely together. Pushing for agreements between financial bodies and BDS suppliers will help make up for lack of capacity and reduce costs by more efficient division of labor. The BDS supplier makes the initial choice of projects on a purely technical basis and the credit institution looks at financial viability. Making loans to intermediaries (NGOs and federations of SMEs) with the job of allotting funds to members can also help cut administration costs. Solidarity between banks, especially setting up inter-bank financing to (as in Nigeria) pool money to be invested in SMEs, reduces the extra risk of lending to SMEs, as well. Working with banks boosts the financial viability of mi- cro-credit institutions and can also help informal financial bodies to move towards the formal sector.
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Institutions and social entrepreneurship: The role of institutional voids, institutional support, and institutional configurations

Institutions and social entrepreneurship: The role of institutional voids, institutional support, and institutional configurations

Our findings demonstrate that joint institutional con fi gurations of formal and informal institutions offer more explanatory power than examinations of their individual effects. The configuration perspec- tive enables greater integration of research on formal and informal institutions and thus transcends the theoretical debate on whether formal or informal institutions are more important for certain outcomes in IB research. Theorizing and testing the effect of configurations is an established practice in such disciplines as strategic management and psychology (Short, Payne, & Ketchen, 2008; Tett & Burnett, 2003), but has received little attention in institu- tional theory (Scott, 2005), particularly in compara- tive entrepreneurship research (Bruton et al., 2010; Jones et al., 2011). One exception is past entrepre- neurship research that focused on how informal social relationships may substitute for the effects of weak rule of law (Estrin et al., 2013b; Puffer, McCarthy, & Boisot, 2010). Our findings offer a wider perspective, by demonstrating that informal and formal institutions can also have additive and mutually reinforcing effects (e.g., government acti- vism and SSC weak-tie social capital).
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Analysis of Financial Performance and Sustainability of Microfinance Institutions in Ghana

Analysis of Financial Performance and Sustainability of Microfinance Institutions in Ghana

Over the years, various empirical studies have been conducted into identifying the determinants of the profitability of financial institutions and these have largely yielded diverse results. Mersland and Ostrom examined governance and performance of MFIs. Their key objective was to determine how the governance structures and mechanisms of microfinance institutions impinge on their performance. They employed a random effects panel regression and 3SLS method in their analysis. Their results suggest that the governance structures of the MFI have effect on the performance of MFIs but do not significantly influence outreach by the MFIs [5]. Coleman & Osei endeavored to isolate the MFI characteristics that influence their profitability by particularly investigating the effects of different aspects of governance which affect the profitability and outreach of these institutions. From their analysis, they discovered that board size, board independence, competence of board, the size of the MFI among others significantly influence outreach and profitability of MFIs [6]. Imai et al. set out to study the performance of MFIs from the macroeconomic and institutional perspectives. They constructed a five equation model and using the 3SLS and Fixed Effects Vector Decomposition (FEVD) methods, they
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IMPACT ASSESSMENT OF MICROCREDIT ON THE WELL-BEING OF WOMEN IN GHANA

IMPACT ASSESSMENT OF MICROCREDIT ON THE WELL-BEING OF WOMEN IN GHANA

The World Bank and other development agencies recognize the importance of women‘s access to financial resources as an important strategy in poverty reduction. Donors, therefore, continue to direct microfinance services and resources to women as a way of encouraging productivity. In spite of the proliferation of Microfinance Institutions and services (MFIs) in Ghana, poverty is still ubiquitous especially in the rural areas among women. Using a sample of 400 women in the informal sector from Atwima Mponua District of Ghana, and Ordered logistic regression analysis, this study was basically conducted to find the impact of MFI microcredit’s or loans received by women on their well-being using four well-being indicators in Ghana. The major finding was that women utilised the services of microfinance institutions, but few have access to credit or loans. The women who accessed credits had improved well-being in relation to their ability to afford quality healthcare, children’s education and comfortability in current accommodation than non-beneficiaries. This study therefore recommended that policies must be adopted to encourage the MFIs to grant more loans to more women.
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EVALUATING THE CREDIT RISK MANAGEMENT PRACTICES OF MICROFINANCE INSTITUTIONS IN GHANA: EVIDENCE FROM CAPITAL LINE INVESTMENT LTD. AND DREAM FINANCE LTD.

EVALUATING THE CREDIT RISK MANAGEMENT PRACTICES OF MICROFINANCE INSTITUTIONS IN GHANA: EVIDENCE FROM CAPITAL LINE INVESTMENT LTD. AND DREAM FINANCE LTD.

In the view of Asiamah and Osei, (2007) microfinance has been an integral part of Ghana’s finance history through the practice of people saving and/or taking small loans from individual lenders and corporative organization to start businesses or farming ventures. In the last three decades, Ghana’s microfinance sector has grown to become an important arm of the country’s financial sector with the help of various financial sector policies and programmes undertaken by different governments since independence. Notable among these financial sector reforms are: (1) the establishment of the Agricultural Development Bank in 1965 specifically to meet the financial needs of the fisheries and agricultural sector; (2) the establishment of Rural and Community Banks (RCBs), and the introduction of regulations such as commercial banks being required to set aside 20% of total portfolio, to promote lending to agriculture and small scale industries in the 1970s and early 1980s; (3) shifting from a restrictive financial sector regime to a liberalized regime in 1986; and (4) the promulgation of PNDC Law 328 in 1991 to allow the establishment of different categories of non-bank financial institutions, including savings and loans companies, and credit unions (Asiamah&Osei, 2007).The above policies among others have culminated into the emergence of three broad categories of microfinance institutions in Ghana. These are: (1) formal credit providers such as savings and loans companies, rural and community banks, as well as some development and commercial banks; (2) semi-formal financial intermediaries such as credit unions, financial non-governmental organizations, and cooperatives; and (3) informal credit suppliers such as susu collectors and clubs, rotating and accumulating savings and credit associations such as traders, moneylenders and other individuals (Bank of Ghana, 2008).
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Informal entrepreneurship and institutional theory: explaining the varying degrees of (in)formalization of entrepreneurs in Pakistan

Informal entrepreneurship and institutional theory: explaining the varying degrees of (in)formalization of entrepreneurs in Pakistan

For many years, scholars struggled to achieve a consensus on why some entrepreneurs do not operate wholly legitimate business ventures but instead operate informal enterprises that are either not constituted as a legal entity independent of the owner, do not keep formal accounts and/or are not registered with the authorities such as for tax purposes (ILO 2012) . Recently however, an explanation for why entrepreneurs operate in the informal sector has emerged which is rapidly gaining widespread acceptance. Scholars adopting institutional theory have drawn a distinction between formal institutions (the codified laws and regulations) and informal institutions (norms, values and codes of conduct) and depicted informal sector entrepreneurs as operating outside of formal institutional boundaries but within the boundaries of informal institutions (De Castro et al. 2014; Webb et al. 2009, 2013, 2014; Welter and Smallbone 2011; Williams and Vorley 2014). From this institutional perspective therefore, the tendency for entrepreneurs to operate in the informal sector is explained to result from the asymmetry between formal and informal institutions in a society; the greater the incongruence between formal and informal institutions, the more entrepreneurs operate in the informal sector. Until now however, this institutional explanation for informal sector entrepreneurship has tended for ease of analysis to partition off informal entrepreneurs from ‘mainstream’ formal entrepreneurs and study them as a separate category or sub -discipline. The problem with this is that in lived practice, many entrepreneurs are neither wholly formal nor wholly informal. They operate somewhere in the middle of these two extremes,
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A CRITICAL APPRAISAL OF RISK MANAGEMENT STRATEGIES OF MICROFINANCE INSTITUTIONS IN GHANA

A CRITICAL APPRAISAL OF RISK MANAGEMENT STRATEGIES OF MICROFINANCE INSTITUTIONS IN GHANA

We invite unpublished novel, original, empirical and high quality research work pertaining to recent developments & practices in the areas of Computer Science & Applications; Commerce; Business; Finance; Marketing; Human Resource Management; General Management; Banking; Economics; Tourism Administration & Management; Education; Law; Library & Information Science; Defence & Strategic Studies; Electronic Science; Corporate Governance; Industrial Relations; and emerging paradigms in allied subjects like Accounting; Accounting Information Systems; Accounting Theory & Practice; Auditing; Behavioral Accounting; Behavioral Economics; Corporate Finance; Cost Accounting; Econometrics; Economic Development; Economic History; Financial Institutions & Markets; Financial Services; Fiscal Policy; Government & Non Profit Accounting; Industrial Organization; International Economics & Trade; International Finance; Macro Economics; Micro Economics; Rural Economics; Co-operation; Demography: Development Planning; Development Studies; Applied Economics; Development Economics; Business Economics; Monetary Policy; Public Policy Economics; Real Estate; Regional Economics; Political Science; Continuing Education; Labour Welfare; Philosophy; Psychology; Sociology; Tax Accounting; Advertising & Promotion Management; Management Information Systems (MIS); Business Law; Public Responsibility & Ethics; Communication; Direct Marketing; E-Commerce; Global Business; Health Care Administration; Labour Relations & Human Resource Management; Marketing Research; Marketing Theory & Applications; Non-Profit Organizations; Office Administration/Management; Operations Research/Statistics; Organizational Behavior & Theory; Organizational Development; Production/Operations; International Relations; Human Rights & Duties; Public Administration; Population Studies; Purchasing/Materials Management; Retailing; Sales/Selling; Services; Small Business Entrepreneurship; Strategic Management Policy; Technology/Innovation; Tourism & Hospitality; Transportation Distribution; Algorithms; Artificial Intelligence; Compilers & Translation; Computer Aided Design (CAD); Computer Aided Manufacturing; Computer Graphics; Computer Organization & Architecture; Database Structures & Systems; Discrete Structures; Internet; Management Information Systems; Modeling & Simulation; Neural Systems/Neural Networks; Numerical Analysis/Scientific Computing; Object Oriented Programming; Operating Systems; Programming Languages; Robotics; Symbolic & Formal Logic; Web Design and emerging paradigms in allied subjects.
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Maintaining Order in the Microfinance Sector in Ghana

Maintaining Order in the Microfinance Sector in Ghana

MFIs were found to operate at both the upper and lower end of microfinance. They served the poor as well as low and middle income earners. As a pro poor segment of the financial market, microfinance served the majority of the Ghanaian population that could not be reached by formal financial institutions. Until recently, microfinance as part of the financial segment of the Ghanaian economy was unregulated. MFIs therefore operated in accordance with self-regulations. Accordingly most MFIs, their employees and agents as well as clients operated in a system that allowed the parties to develop various and informal alternative means of maintaining order and sanity in their transactions, without necessarily resorting to legal rules or litigation to resolve differences that arose. Some of these informal alternative means of resolving disputes were observed to include negotiation, dialogue, seizure of collaterals or stock in trade, closure of shops, extra-legal measures, as well as seeking the assistance of the police. Order was also maintained by keeping the channel of communication between MFIs, their clients and staff open. Most MFIs also maintained good working relationships with their clients and staff as well as conducted credit or background checks on both clients and staff before dealing with them. Record keeping was also found to be crucial in the maintenance of order in the microfinance sector.
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Harmonization Of Microfinance Regulation In Ghana: Panacea To Microfinance Problems In Ghana.

Harmonization Of Microfinance Regulation In Ghana: Panacea To Microfinance Problems In Ghana.

Level Elections held in September 2, 2015 in the Nkoranza District in the Brong Ahafo region. Again in November, 2015 the BOG closed another 70 microfinance companies for operating with- out licence. Another problem identified is the lack of supervi- sion of microfinance institutions by the Bank of Ghana. The supervisory division of the Bank of Ghana has been over- whelmed by the growing number of microfinance to the extent that they are unable to properly supervise the operations of microfinance institutions across the length and breadth of the country. The recent case of DKM and God is Love who oper- ated for over four years without licence is a testimony of the lack of supervision. The Bank of Ghana came under heavy criticisms for „sitting aloof‟ while these microfinance companies engaged in these irregularities leading to the loss millions of Ghana Cedis of unsuspecting customers who fell prey to their tricks. DKM Microfinance institutions has squandered over Ghs177 million of depositors money. The President of the Re- public of Ghana in his 2016 State of the Nation Address blamed the Bank of Ghana for the lack of supervision. This was in respect of reports that customers of DKM Microfinance and God is Love Fund club have been swindled of their in- vestments running into millions of cedis. The study also re- vealed that microfinance institutions lack capacity, lack coordi- nation and collaboration, and has poor institutional linkages.
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Contemporary Challenges and Sustainability of Microfinance Institutions in Ghana

Contemporary Challenges and Sustainability of Microfinance Institutions in Ghana

The study adopted the cross-sectional survey design to solicit information from Managers, an Administrative and Operational staff of 36 Tier 2 microfinance companies. The study operationalizes microfinance institutions as those ―Tier Two‖ MFIs with the word ‗microfinance‘ as part of their names. The 36 companies were randomly selected from the list of Microfinance Companies from Western, Central, Ashanti, Greater Accra, Brong Ahafo and Eastern. The choice of the microfinance companies over the other informal financial institutions is that they form a major part of the total informal financial companies in the country and also they are pivotal as far as credit for development is concerned (Chronicles Business News of Ghana, 2014). In addition, studying these institutions is important because in recent times alleged cases have been reported about their operations. The cross-sectional survey design was employed to support the quantitative analytical procedure. This is appropriate as the study structure requires selection of microfinance institutions and administer data collection instrument. The survey is applied through the use of standardized questionnaires to collect the required data of interest (Anlo, 2012, p.79).
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The size and growth of microfinance institutions

The size and growth of microfinance institutions

Following previous literature, we limit our sample to microfinance institutions that are assigned three or more diamonds (Assefa, Hermes, & Meesters, 2013; Barry & Tacneng, 2014). Our data span the period 2000 through 2014 and includes microfinance institutions of different ownership form (micro-banks, NBFI, cooperatives/credit unions and NGOs). Our sample includes a heterogeneous set of microfinance institutions in terms of relevant characteristics such as size, growth, profitability, ownership form and operating in different geographical areas. 7 We winsorize all variables at the 1% of the distribution (top and bottom) to remove outliers in the data set. 8 After these changes, our final sample includes almost 13,000 observations. Due to the unbalanced nature of our data and missing values for some variables, the number of usable observations varies across the models estimated in Section 4.
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EFFECTS OF RECIPIENT BEHAVIOUR TOWARDS MOBILE BANKING PERFORMANCE IN MICROFINANCE INSTITUTIONS

EFFECTS OF RECIPIENT BEHAVIOUR TOWARDS MOBILE BANKING PERFORMANCE IN MICROFINANCE INSTITUTIONS

The importance of cashless transaction was raised by Senthe (2012) in lieu of rural communities who are often excluded from financial institutions. They create their own currency storage mechanisms of saving such as storing cash in pots. Subsequently they discover that currencies are subjected to depreciation. Possibility of letting cash to be physically destroyed by vermin, such as rats or insects, is also great. In order to overcome these issues, direct transfer of funds to sahabat in AIM will ensure that cash is transferred safely. Additionally, Abd Ghani (2013) asserted that AIM has strived to promote cashless and paperless transactions between them and sahabat through the introduction of the M-Ringgit. This can be achieved by creating a platform in order to simplify sahabat’s daily systems to become more effective and systematic. An officer from the research and development unit emphasised that the risk of carrying cash could be mitigated by using cashless and paperless transactions as follows:
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Microfinance institutions and efficiency

Microfinance institutions and efficiency

It has long been argued that commercial banks have not provided for the credit needs of relatively poor people who are not in a condition to offer loan guarantees but who have feasible and promising investment ideas that can result in profitable ventures; Hollis and Sweetman (1998). Meeting this need is of interest to governments, charitable institutions, and socially responsible investors. New financial institutions have arisen that are in touch with the local community, that can obtain information about the loan taker at low cost, and that often are not only interested in profit but also on the creation of jobs, women’ employment, development, and green issues. These new financial intermediaries, the MFIs, provide small loans to poor people who can offer little or no collateral assets. But the provision of such microcredit is not limited to not-for-profit organisations. Traditional financial institutions can, and often do, make loans to the deprived as part of a socially responsible investment policy.
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Role of Microfinance and Entrepreneurship Development in India

Role of Microfinance and Entrepreneurship Development in India

The entrepreneurship development in any country leads to the employment generation and poverty eradication. That‟s why every country continuously tries to speed up the entrepreneurship. In the scenario of India small entrepreneurs need small fund to boost up the small business but government sector financial lending institutions are now failed to do it. Therefore this creates the dependency of micro entrepreneur on microfinance lending institution. It is seeing in structure of micro enterprise lending. Bangladesh is a pertinent example of, role of microfinance in economic development after that Bangladesh became a model of economic development through micro finance, now developing country applying this modal for economic development. In the same line India is also applying and experimenting the flourish outcome of microfinance. microfinance playing a vital role in economic development by entrepreneurship development in India. The success of small business in India depends upon the accessibility of working capital. It is only possible by microfinance lending. This paper is prepared by use of secondary data. The researcher used internet as source of collection of secondary data. Tables and simple percentage were use in data presentation. For analysis the two broad variables keep in center in the study. First is entrepreneurship development as a dependent variable and second is microfinance as an independent variable. The research paper is divided in three sections. First section reveals the success of microfinance in different region across the country for entrepreneurship development. The second section discloses the relationship between microfinance and entrepreneurship development in the country. The third section concludes the result of the research that is there is positive impact of microfinance institution lending on entrepreneurship development in India.
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Sustainability of Small and Medium Scale Enterprises in Rural Ghana: The Role of Microfinance Institutions

Sustainability of Small and Medium Scale Enterprises in Rural Ghana: The Role of Microfinance Institutions

MFIs in Jaman North district provide a wide range of services to SMEs. The survey reveals that credit (loan) is the major product accessed by all SMEs in the district. With this financial product, the SMEs were able to start and grow their businesses over time. Other services provided included the training of SMEs on the management practices relating to credit usage and repayment. About 88% of SMEs across the various categories have had training on credit management. These training sessions, according to the interview results, have contributed to better management of SMEs and significantly increased the returns of SMEs. Microfinance products have greatly influenced the success of rural SMEs and further determined the sustainability of SMEs in reducing rural poverty as indicated by Yunus (1997).
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The effect of Microfinance Institutions on the growth of small businesses in Kumasi, Ashanti Region of Ghana

The effect of Microfinance Institutions on the growth of small businesses in Kumasi, Ashanti Region of Ghana

are run by married females between the ages of 30-39 years who also had no or low level formal education. The age group of SB operators in Kumasi metropolis affirmed the high contribution of small businesses to the employment of Ghana’s working population. It was again obtained that SBs absorbed the section of Ghana’s population who had no formal education to gain employment to the formal sector. However, it was also found that, the low education level possibly caused inadequate utilization of microfinance services and mismanagement of small business funds. This accounted for the constant monitoring, education and training by the MFIs to assist them to overcome their small business management challenges in order to achieve growth. It was also revealed that, most of the respondents are involved in retail trading and greater number operated in stores. Finally most present-day microfinance schemes to small businesses in Kumasi are less helpful than they are expected to be because the microloans are not a universal remedy for poverty- alleviation and that in some cases the poorest people have been made worse-off. To a very large extend, an increasing number of microfinance institutions, if not all, are now in operation for profit
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Microfinance Institutions in Nigeria

Microfinance Institutions in Nigeria

Also, the aggregate micro credit facilities in Nigeria account for about 0.2 percent of GDP and less than one percent of total credit to the economy. Another challenge is that most of microfinance funding goes to the commercial sector to the detriment of the more vital economic activities, especially agricultural and manufacturing sectors which provide the foundation for sustainable growth and development. Currently, only about 14.1 and 3.5 per cent of total MFI funding went to these sectors, respectively, while the bulk, 78.4 percent, funded commerce (Anyanwu, 2004). About 90% of Nigeria’s businesses are considered microenterprises and these farm or non-farm activities serve as the main income source for the majority of the labor force. Due to the unwillingness or inability of commercial banks to provide financial services to the urban and rural poor, coupled with the unsustainability of government-sponsored development financial institutions and programs, most microentrepreneurs still access financial services from informal sources, including savings and credit associations, traders, or moneylenders. Semi-formal and formal providers of microfinance are a small but rapidly growing part of the financial sector in Nigeria with a handful of large, microcredit NGOs and locally-owned community banks providing the bulk of services.
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THE EFFECT OF MICROFINANCE INSTITUTIONS ON THE GROWTH OF SMALL BUSINESSES IN KUMASI, ASHANTI REGION OF GHANA

THE EFFECT OF MICROFINANCE INSTITUTIONS ON THE GROWTH OF SMALL BUSINESSES IN KUMASI, ASHANTI REGION OF GHANA

Licensed under Creative Common Page 16 many microfinance clients are satisfied with the MFI services. As a result, many of the respondents were in business with two or three Microfinance institutions to increase their benefits. However, there were still high numbers of clients who were not satisfied in doing business with the Microfinance Institutions (MFIs) because most of the MFIs mismanage funds saved by the SBs and were unable to pay back the savings when the need arose. This presupposes that MFIs had not been able to improve the lives of many of the poor or the low income earner in the society. Those who operated with more than one microfinance institutions may also be doing so to abuse the credit opportunity and secured more loans than the capital needs of their businesses to create over capitalization. Others also abused the offer by securing credit from one institution to finance other credits secured in other MFIs to end them in default payment to block their future credit chances. The data from collected from the microfinance institutions affirmed this when they indicated that the greatest they face in dealing with SBs was default payment and was gradually pushing some MFIs to shift their much attention from granting credit to SBs to that of civil servants
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ANALYSIS OF THE FEATURES AND OPERATIONS OF MICROFINANCE INSTITUTIONS IN GHANA: THE CASE OF SINAPI ABA TRUST

ANALYSIS OF THE FEATURES AND OPERATIONS OF MICROFINANCE INSTITUTIONS IN GHANA: THE CASE OF SINAPI ABA TRUST

Interviews with loan officers pointed out that initial loan sizes were relatively small subject to increase depending on certain factors. Some of the beneficiaries had to start with smaller loans to acquaint themselves with the loan programmes before larger loan sizes are granted to them. Meanwhile, it was also learnt that initial smaller loan sizes were part of the preparatory and probationary periods for studying the credit worthiness of clients by loan officers before raising loan sizes to enable loan officers reduce default rates and portfolio at risk. Clients who paid on time became eligible for repeat loans with higher amounts. For instance, Pitt et al (1998) report that microfinance products usually begin with small loan sizes which are tied to disbursal schedules and frequent repayments.
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