The Impact of Microfinance on Maize Farmers in Nkoranza (Brong Ahafo Region of Ghana).

Abstract

Advocates of microfinance argue that Microfinance is a powerful to alleviate poverty. In recent times, however, many studies do suggest that the reality promise of microfinance may be less attractive the promise. This study examined the impact of microfinance from the perspectives of maize farmers in Nkoranza in the Brong Ahafo Region of Ghana. The findings of the study based on a survey of 100 participants in the microfinance program suggest that the impact of microfinance on both social and economic wellbeing is marginal. The key issue identified by most of the recipients is lack of entrepreneurial skills and market for their produce. The key recommendation from the study is the need improve infrastructure and establish linkages between the farm and non-farm sectors of the rural economy.