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The goal of this research was to assess the effectiveness of Microfinance Institutions
(MFIs) in poverty alleviation in Tanzania by focusing on FINCA (T), Dodoma
region as a case study. Specifically, the study aimed to, identify approaches used by
FINCA Tanzania in poverty alleviation, assess the effectiveness of FINCA Tanzania
in poverty alleviation and identify challenges faced by FINCA Tanzania in poverty
alleviation
The methodology used to conduct this study included the use of various data
collection tools such as questionnaires and interviews. During the study, the
researcher used primary data collection methods such as; observation, interviews,
questionnaires and documentation. The study also used secondary data collection
methods such as documentation to collect data.
From the findings of the study, the researcher concludes that microfinance services
offered by FINCA plays a very important role in poverty alleviation by encouraging
savings, providing entrepreneurship training, offering loans and offering advice on
income-generating activities. This leads to improved school attendance, increased
purchasing power, improved standard of living and increased food security in the
family.
To address the challenges faced by FINCA, the researcher recommends that FINCA
should start offering credit management training to it’s members in order to make
help them to repay loans in time, the government should support MFIs in poverty
alleviation because in doing so, MFIs will be in a better position to deliver services
to more clients. Also, FINCA should encourage savings culture among it’s members. |
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