The Role of microfinance in uplifting the livelihoods of Zimbabweans: a case study of Yebo Financial Solution
- Author
- Ushe, Kudzai H.
- Title
- The Role of microfinance in uplifting the livelihoods of Zimbabweans: a case study of Yebo Financial Solution
- Abstract
- The research exasperated to investigate the role of microfinance in uplifting the livelihoods of Zimbabweans. Its primary objectives were to assess the services offered by YFS and their contribution to the assets of the Zimbabweans, the effects on the monthly income and household before and after engaging into microfinance activity and lastly the role of microfinance in education and business management and entrepreneurship. A pilot study was carried out through the use of interviews and forty questioners distributed to YFS clients. The respondents were selected using convenient and judgmental sampling method from a target population of 3642 clients who have taken up their third loan. Personal interviews were carried out with five microfinance staff members. The gathered data was analyzed and presented through use of tables,graph, and charts using SPSS. The study revealed that microfinance has a greater bearing on education which fuels greater employment possibilities and entrepreneurship. It also revealed majority were able to purchase durable assets which helps them survive shocks or recover from poverty and vulnerability. However, microfinance use brought negative impact on the household lifestyle as well as monthly savings due to high rate and shorter payback period. The study also concluded that microfinance uplift the livelihood of Zimbabweans through the provision of funds for business, health, food and other personal purpose which helps them reduce their vulnerability. Lastly the study recommended that non-financial services like training and seminars support clients on entrepreneurship and financial should be conducted regularly. Also, the MFIs should revise their payback period and MFIs clients should opt for institutions with lower interest rates they can afford.
- Date
- June 2022
- Publisher
- BUSE
- Keywords
- Microfinance,
- MFIs,
- Yebo Financial Solution,
- Supervisor
- Mr. Chiriseri,
- Item sets
- Department of Accountancy
