Impact of Microcredit on Income and Social Status of Rural Women Microentrepreneurs in Southeast Nigeria

Ogochukwu Edith Nkamnebe and Abimbola Oluwaseun Oladipo
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Ogochukwu Edith Nkamnebe: Nnamdi Azikiwe University, Nigeria
Abimbola Oluwaseun Oladipo: Nnamdi Azikiwe University, Nigeria

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 8, 3521-3532

Abstract: This study investigates the impact of microcredit on poverty reduction and social status enhancement among rural women microentrepreneurs in patriarchal Southeast Nigeria. The objective is to assess whether microcredit improves economic conditions and elevates social standing within a traditionally patriarchal society. Employing a quantitative approach, the study surveyed 340 rural women who have accessed microcredit across four states in Southeast Nigeria. Data were collected using a structured questionnaire, and statistical analyses were conducted to evaluate the effects of microcredit on income generation and social status. The findings reveal that while microcredit significantly boosts income generation, its impact on social status is less pronounced, constrained by persistent patriarchal norms and limited supportive measures. To address this limited impact, it is recommended that microcredit programs be complemented with comprehensive social support services. Such initiatives should focus on improving community relationships and addressing gender-specific barriers within the socio-cultural context. By integrating these support mechanisms, microcredit programs can more effectively enhance both the economic and social standing of women, fostering a more supportive environment for their empowerment.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:bcp:journl:v:8:y:2024:i:8:p:3521-3532

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