Gender Inequality Microfinance, An Empowering Practice

Section B: Gender Inequality 2.0 Microfinance, an empowering practice? Microfinance, has to some extent improved and strengthened relations amongst women within communities. Microloans provided to women in groups ensures that the economic burden of repayments is one which women no longer have to bear alone but is instead shared, reducing the anxiety and pressure levels felt by women. The lending of microloans to groups of women, has created a sense of social solidarity, as women who are often in the same financial position can all contribute to creating successful microenterprises monitored and controlled by each other, reducing the risk of financial failure and collapse in addition to the reduction of collateral. This can be viewed as a†¦show more content†¦Granted microfinance has been projected as an initiative, which is targeted solely at women however the ‘types’ of women who participate in this financial venture, remain unclear both in the states which operate microfinance, and the literature which discuss the successes and failures of microfinance institutions. For example, ‘Young unmarried women face very different prospects and constraints compared with older women who may be widowed or divorced’ Johnson (2000:90). A woman who is unmarried may benefit more from microfinance, in comparison to a married women who has duties, obligations and responsibilities not only to her children, but also to her husband, and members of her extended family, and may feel more anxiety and pressure to fulfil these obligations compared to an unmarried women. The case of married women, remains an interesting case, as gender relations between men and their wives become difficult as the lines of financial responsibility become blurred due to men, depending on their wives to obtain these loans as a source of income. This has been problematic as it hinders gender equality as , women have and continue to obtain loans under false pretences, often on behalf of their husbands who continue to exploit them for financi al purposes as, ‘A loan to a womanShow MoreRelatedInvestigating the Role of Micro-Finance in Female Empowerment, Kawangware Division, Nairobi County1519 Words   |  7 Pagesscourge of poverty. One of these measures is through micro-financing, which is geared towards empowering the poor in the society. Poverty is a canker worm that can extensively hinder the growth and development of any society. It is quit unfortunate that Africa as a continent suffer from poverty in different forms. 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