ASSESSING THE ROLE OF MICROFINANCE BANKS TO ENHANCE ENTREPRENEURSHIP OPPORTUNITIES FOR WOMEN IN TANZANIA.A CASE OF NMBPLC, FINCA, BRAC, AND TPB IN ILALA MUNICIPAL COUNCIL DAR ES SALAAM.

Abstract

ABSTRACT

The main objective of this study is to assess the role performed by Microfinance banks to enhance entrepreneurship opportunities of women in Tanzania NMB, BRAC, FINCA, and TPB. In contrast, Ilala Municipal was used as the case study. The research reviewed different studies on microfinance institutions’ role in enhancing entrepreneurship opportunities for women. A case study research design was employed in this study. The study used a sample of 100 respondents who fall under the women entrepreneurship and bank employees categories. Questionnaires, Interviews, document reviews, and observation were used as data collection methods that the researcher was interested in using in the field. The researcher collected data, Processed them, and analyzed them by using statistical software (SPSS). The study revealed that more than 36.46% of respondents said that Microfinance banks played a significant role in providing financial opportunities to women entrepreneurs where the provision of loans, training of financial and business skills, and grace period offered by those banks seem to advance the business of women entrepreneurs in Ilala Municipal. The average loan taken is 50,000Tsh to 75,000,000Tsh. The opportunities offered by Microfinance banks have impacted the living standard of women, enabling them to buy household assets, buy food, increase income, and increase employment among women entrepreneurs compared to before joining Microfinance. The study recommends that the government, in collaboration with financial sectors, amend the banking system and accommodate the reduction of interest rates, more free training on financial skills, reduction of prior application charges, and regular visits to the women entrepreneurs, which were help to improve both Microfinance bank and women entrepreneurs performing better in their business and achieve social economical as well as to enable them to access them and use the financial opportunity they provide.