Micro finance Support Initiatives and Poverty Reduction in Nsagi Subcounty, Wakiso District Uganda: A case of Opportunity bank
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Date
2018-01
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Publisher
Uganda Management Institute
Abstract
The study examined the relationship between microfinance support initiatives and poverty
reduction among Opportunity Bank clients in Nsangi Sub County. It was guided by the following
objectives: to assess the relationship between credit services and poverty reduction among
Opportunity Bank clients in Nsangi Sub County; to assess the relationship between saving services
and poverty reduction among Opportunity Bank clients in Nsangi Sub County and to assess the
relationship between financial literacy services and poverty reduction among Opportunity Bank
clients in Nsangi Sub County. A cross sectional research design was used. The study
predominantly employed a quantitative approach but also used a qualitative approach. The study
population consisted of 357participants but a sample size of 269 was selected using Morgan and
Krejcie Table (1970). A convenience sampling technique and purposive sampling were used to
choose respondents. Quantitative data analysis mainly consisted of descriptive statistics
(percentages) and inferential statistics (Pearson correlation, coefficient of determination and
regression). Content analysis was used to analyze qualitative data. Findings revealed that there is
significant relationship between credit services and poverty reduction among Opportunity Bank
clients in Nsangi Sub County; there is a significant relationship between saving services and
poverty reduction among Opportunity Bank clients in Nsangi Sub County and there is a significant
relationship between financial literacy services and poverty reduction among Opportunity Bank
clients in Nsangi Sub County. It was concluded that the more the microfinance support initiatives
are provided, the higher the reduction of poverty. It was thus recommended that Opportunity Bank
to review their interest rates, improve on the turnaround time for loan processing, revise the
collateral requirements and emphasize saving through mobile money among others. Such changes
would increase on access of these services to the clients and help them to have maximum benefit
from the bank hence leading to poverty reduction.
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Keywords
Micro finance Support Initiatives, Poverty Reduction, Uganda
Citation
Babirye, Ann Caroline (2018) Micro finance Support Initiatives and Poverty Reduction in Nsagi Subcounty, Wakiso District Uganda: A case of Opportunity bank