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M. Thesis

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M. Thesis
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    CENTRAL UNIVERSITY THE ROLE OF MICROFINANCE IN FUNDING SMALL AND MEDIUM ENTERPRISES: THE CASE OF SELECTED MICROFINANCE INSTITUTIONS IN KANESHIE MAZONGA MFOUTOU BRUVINE ORCHIDEE JULY, 2016    CENTRAL UNIVERSITY THE ROLE OF MICROFINANCE IN FUNDING SMALL AND MEDIUM ENTERPRISES: THE CASE OF SELECTED MICROFINANCE INSTITUTIONS IN KANESHIE BY MAZONGA MFOUTOU BRUVINE ORCHIDEE Dissertation submitted to the Central Business School, Central University in  partial fulfilment of the requirements for award of Master of Business Administration Degree in Finance JULY, 2016  ii   DECLARATION Candidate’s Declaration I hereby declare that this dissertation is the result of my own srcinal work and that no part of it has been presented for another degree in this university or elsewhere. Candidate’s Signature…...........…………….  Dat e………...…….........   Name: Mazonga Mfoutou Bruvine Orchidee Supervisor’s Declaration   I hereby declare that the preparation and presentation of the dissertation were supervised in accordance with guidelines on supervision of dissertation laid down by the Central University. Supervisor’s Signature…...........……………   Date………...…………..   Name: Mrs. Adu Darko  iii   ABSTRACT The broad objective of the study was to investigate the role microfinance plays in helping small and medium sized enterprises in Ghana have access to funds and the extent to which this assistance influences the alleviation of poverty. The study adopted a descriptive survey where a case study of selected SMEs was considered in Kaneshie. Quota sampling was employed to specify certain percentages to each trade in the industry and purposive sampling was used to choose eighty (80) respondents who were thought to be relevant to the  data needed. The main research instrument used for the study was questionnaires. Data was analysed with the use of Statistical Product and Service Solutions version sixteen (SPSS 16). Descriptive statistics analysis factors like tables, and graphs were generated and their interpretations thoroughly explained. The study revealed that the SMEs were supported financially by loans from microfinance institutions and others self-financed their business. It was also revealed that SMEs pay for the loans between 7 and 12 months and they used their personal savings to pay for the loans they take from MFIs. It was seen that the wholesale or retail sector dominates the sector of economy selected for the study. It was further revealed that SMEs are faced with high interest rate and this is true among MFIs. The study recommended that microfinance institutions should try to improve the business ideas provided to clients as this will go a long way to add value to their loans and even reduce loan default rates. Again, MFIs should try to reduce the burden of high interest rates on the loans granted to clients since the rates are high.  iv   ACKNOWLEDGEMENTS My sincere thanks go to my project supervisor, Mrs Adu Darko, who has been very instrumental to the successful completion of this project work. My gratitude also goes to the respondents for providing great service during the data collection period.
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