Empowering Nigerian Women Entrepreneurs through Microfinance

Abstract

This study investigated the impact of
microfinance interventions on the psychological
and economic conditions of women
entrepreneurs. Specifically, it focused on 15
women entrepreneurs who had benefited from
micro loans and leases from the Federal
University of Technology Microfinance Bank
(FMB) in the Nigerian city of Minna. A
thematic analysis of the interview sessions with
these women revealed that both microfinance
interventions had a significant positive impact in
empowering them psychologically and
economically. However, it was recommended
that for this positive impact to be amplified to
include more women entrepreneurs, the
qualifying requirements had to be made more
flexible by adopting a social collateral approach
rather than the traditional physical collateral
approach currently adopted.