An investigation of the effect of gendered access to microfinance in Owo Local Government Area, Ondo State
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Background of the Study
This investigation focuses on the impact of gendered access to microfinance on economic empowerment in Owo Local Government Area, Ondo State. Microfinance is a critical tool for poverty alleviation and small business development, yet disparities in access persist along gender lines (Brown, 2023). Women, who often play central roles in family and community economic activities, face systemic barriers in accessing microfinance services, limiting their entrepreneurial opportunities (Johnson, 2024). The study examines how these disparities affect business outcomes and overall community economic development. Factors such as collateral requirements, social biases, and financial literacy influence the effectiveness of microfinance programs. Recent evidence suggests that addressing gender disparities in microfinance could significantly enhance economic empowerment and reduce poverty (Smith, 2025). By analyzing financial data, interviewing stakeholders, and reviewing policy frameworks, the study aims to uncover the root causes of these inequities and recommend actionable solutions (Ade, 2023).
Statement of the Problem
Gender disparities in accessing microfinance in Owo significantly hinder economic empowerment, particularly for women entrepreneurs. Despite the potential of microfinance to spur small business development, women face numerous obstacles including discriminatory lending practices and limited financial education. These challenges contribute to unequal economic growth and perpetuate gender-based poverty cycles. This study seeks to address these issues by identifying the barriers to equitable microfinance access and proposing policy interventions to redress these imbalances (Brown, 2023).
Objectives of the Study:
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To assess the current state of microfinance access by gender.
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To identify barriers faced by women in obtaining microfinance.
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To recommend strategies for more equitable access to financial resources.
Research Questions:
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What are the key gender disparities in microfinance access?
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How do these disparities affect business outcomes?
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What measures can enhance equitable access to microfinance?
Research Hypotheses:
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H₁: Women experience significantly lower access to microfinance compared to men.
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H₂: Barriers such as collateral requirements contribute to gender disparities.
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H₃: Policy interventions can improve microfinance access for women.
Significance of the Study
This investigation is vital for highlighting gender disparities in microfinance and their implications for economic empowerment. The study’s findings will guide policymakers and financial institutions in developing strategies that promote inclusive economic growth and reduce gender-based poverty (Johnson, 2024).
Scope and Limitations of the Study:
The study is confined to examining gendered access to microfinance in Owo Local Government Area. Limitations include potential data gaps in financial records and the challenges of quantifying informal lending practices.
Definitions of Terms:
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Microfinance: The provision of financial services to low-income individuals or groups.
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Economic Empowerment: The process of enabling individuals to participate in economic activities and improve their financial status.
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Barriers: Obstacles that prevent individuals from accessing resources.
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