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The Impact of Micro Finance Institutions on the Socio-Economic Lives of People in Zimbabwe

Author

Listed:
  • Margaret Mutengezanwa

    (Bindura University, Zimbabwe)

  • Fungai B. Gombarume

    (Bindura University, Zimbabwe)

  • Kosmas Njanike

    (Bindura University, Zimbabwe)

  • Anxious Charikinya

    (Bindura University, Zimbabwe)

Abstract

This paper reports on the findings of an exploratory research whose main purpose was to investigate the impact of micro finance institutions on the socio economic lives of Zimbabweans. The study sought to establish whether micro finance empowers the poor and reduces poverty. The study was conducted through the use of eighty questionnaires randomly distributed to clients of five micro finance institutions. The study revealed that there is a positive relationship between microcredit and the socio economic lives of people. It was found out that the activities of microfinance institutions resulted in increased social interaction and socio economic sustainability.

Suggested Citation

  • Margaret Mutengezanwa & Fungai B. Gombarume & Kosmas Njanike & Anxious Charikinya, 2011. "The Impact of Micro Finance Institutions on the Socio-Economic Lives of People in Zimbabwe," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 11(1), pages 161-170.
    • Handle: RePEc:pet:annals:v:11:y:2011:i:1:p:161-170
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    References listed on IDEAS

    as
    1. Joanna Ledgerwood & Victoria White, 2006. "Transforming Microfinance Institutions : Providing Full Financial Services to the Poor," World Bank Publications - Books, The World Bank Group, number 7086, December.
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    Cited by:

    1. Jascha-Alexander Koch & Michael Siering, 2019. "The recipe of successful crowdfunding campaigns," Electronic Markets, Springer;IIM University of St. Gallen, vol. 29(4), pages 661-679, December.

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    More about this item

    Keywords

    micro finance; empowerment; socio economic; sustainable development;
    All these keywords.

    JEL classification:

    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth

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