An impact assessment of Financial NGOs in Ghana (a case study of the clients of the Social Investment Fund Microfinance Program)

Date
2008
Authors
Fosu, Clara
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Southern New Hampshire University
Abstract
"People living in poverty, like everyone else, need a diverse range of financial services to run their businesses, build assets, smooth consumption, and manage risks. (Consultative Group to Assist the Poor, 2008 para. 2) There are diverse types of financial services who have emerged of which the non-governmental organizations identified as Financial NGOs in Ghana are offering services to the poor especially women. This study looked at three FNGOs and the impact of their financial services at four levels; the individual, household, enterprise and the community. The study comprised of both primary and secondary research; employing both qualitative and quantitative methods. Findings indicated existing clients had increased income and as a result 68 percent of the women indicated it had increased their decision making in the household. About 80 percent of the clients contributed to the household in asset acquisition, investing in children's education and the general well being of the family. Seventy-nine percent already participated in community activities. The study concluded that even though majority of the women had found the intervention beneficiary some felt they were worse off due to the inadequate loan sizes and stringent loan terms. Recommendations included participation of clients in reviewing of the microfinance services and products to address their needs. (Author abstract)
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