THE IMPACT OF MICRO FINANCING ON WOMEN: A BRIEF REVIEW OF THE LITERATURE

Abstract

Purpose: To assess how women entrepreneurs have been impacted by microfinance. Methodology: Brief review of the literature. Findings: Microfinance has been one of the development tools used to empower disadvantaged women entrepreneurs.  The microfinance sector is increasingly being seen to be lucrative and the recent profit focus by new players in this sector and the effects of the COVID 19 pandemic are likely to reduce the social performance gains.  Unique contribution to theory, practice and policy:  There is theory that access to microfinance by women leads to women empowerment, improved livelihoods and decision making. The literature review supports the theory but also highlights that microfinance on its own cannot succeed without addressing other socio economic challenges such as gender violence. Future studies needs to take an in-depth view of the socio economic challenges and how they can be mitigated once women are empowered.