
Contents
|
Authors:
Popoola Mufutau Akanmu, PhD, Department of Business and Entrepreneurship, School of Business and Governance, Kwara state university Malete, Nigeria
Jones Olasimbo Clement, Department of Business and Entrepreneurship, School of Business and Governance, Kwara state university Malete, Nigeria
Mande Samaila, Prof., School of postgraduate Studies, National Open University of Nigeria (NOUN), Nigeria
Pages: 20-28
DOI: http://doi.org/10.21272/fmir.2(4).20-28.2018
Download: |
Views: |
Downloads: |
|
|
|
Abstract
This study assessed the effect of cooperative microfinance on the performance of women entrepreneurship in Kwara State, Nigeria. Specifically, the study identified entrepreneurial activities carried out by the women entrepreneurs, contributions of co-operative entrepreneurial activities to the women as well as identified constraints experienced by the cooperators in developing entrepreneurship among members. One hundred and seventy-six entrepreneurs show randomly selected out of three Cooperativeifteen Women engaging in Cooperative activities in Kwara State for the study using Taro Yamane’s formula at 5% error tolerance and 95% level of confidence. Instrument used for data collection was primarily questionnaire while data were analyzed using descriptive (frequency and percentage) and inferential statistics (Pearson Correlation analysis). Findings indicate that Group/Membership Increment (=4.63), Group Development ( = 4.91), Skill Acquisition ( = 3.98), Self Actualization ( = 3.69), Economic growth (= 3.64) and Community Development ( = 3.55) are major benefits accruing from co-operative entrepreneurial activities to the women cooperators. However, Inadequate Finance (= 4.87), Lack of access to raw materials ( = 4.76), Maladministration ( = 4.65), Inadequate market information ( = 4.58), Lack of good Coordination ( = 4.31), Lack of adequate and proper are major challenges experienced by the cooperators in developing entrepreneurship among members. The study recommends coordinated entrepreneurship training/education programme for the cooperators by the government in order to improve their entrepreneurial capacity and government intervention in the provision of necessary financial assistance to women in order to eliminate their poverty and improve their productivities.
Keywords: women entrepreneurship, cooperatives, microfinance, sustenance, development.
JEL Classification: J16, G00, G21.
Cite as: P. M. Akanmu, J. Ol. Clement, M. Samaila. (2018). Impact of Cooperative Microfinance on the Performance of Women Entrepreneurship in Kwara State Nigeria. Financial Markets, Institutions and Risks, 2(4), 20-28. DOI: http://doi.org/10.21272/fmir.2(4).20-28.2018
References
- Abiola, B. (2015). Effects of Microfinance on Micro and Small Enterprises (MSEs) Growth in Nigeria. Asian Economic and Financial Review, 2(4), pp.49-58.
- Amenya L.M. and Ombui K.A. (2016). Determinants of financial performance of savings and credit cooperative societies in Kiambu County, Kenya, International Journal of Social science and information Technology, 2(9), pp.78-99.
- Anyiro, C.O., Ajuka, P.N., Emerole, C.O. and Orji, I.E. (2014). “Determinants of women’s participation in self help group led micro-financing of farms in Isuikwuato Local Government area of Abia State, Nigeria”, Scientific Papers Series Management, Economic Engineering in Agriculture and Rural Development, 14(3), pp. 21-29.
- Apesughur, D. A., Ashiki, G. M., Kim, I., Yusuf, K (2014). Assessment of self-help initiatives and the development of rural communities in Agatu Local Government Area of Benue State, Nigeria. Global Journal of Agricultural Economics, Extension and Rural development, 8(3), pp. 45-48.
- Ayogu, D. U. and Agu, E. O. (2015). Assessment of the Contribution of Women Entrepreneur towards Entrepreneurship Development in Nigeria. International Journal of Current Research and Academic Review, 3(10), pp. 190-207.
- Badiru, I. O, Yusuf, S. K and Anozie, O. (2016). Adherence to Cooperative Principles among Agricultural Cooperatives in Oyo State, Nigeria. Journal of Agricultural Extension, 20(1) pp. 8-9.
- Central Bank of Nigeria (2015). Financial Stability Report – December 2015.
- Choto, P., Tengeh, R.K.; Iwu, C.G. (2014). Daring to survive or to grow? The growth aspirations and challenges of survivalist entrepreneurs in South Africa. Environmental Economics, 4(5), pp.93–101.
- Dibie,G. A. (2017), “Obiaruku Women and Economic Development”, International Journal of Engineering andInformation Systems(IJEAIS), 1 (8), pp. 124-134.
- Dibie, G.A., Besong, E.N., & Robert, O.S. (2015). Cultural effects on entrepreneurship development: A focus on Lafia. Journal of Humanities and Social Sciences, 4(4), pp. 33.
- EFInA (2014), Enhancing Financial Innovation and Access in Nigeria (EFInA) 2014 Survey, available at: http://www.efina.org.ng/assets/Documents/EFInA-Access-to-Financial-Services-in-Nigeria-2014-Survey-Key-Findings.pdf (accessed December, 18 2017).
- Food and Agricultural Organization (FAO). 2016. Promoting rural women’s cooperative businesses in Thailand. A training kit. pp 3-4.
- John-Akamelu C. R. and MuogboUju S. (2017). The Contributions of Women Entrepreneurs In Socio-Economic Development (A study of selected local governments in Anambra state Nigeria), Business and Management Research Journal Vol. 7(6): 58–65.
- Musa, N. (2014). An empirical investigation of the impact of entrepreneurship on sustainable economic growth in Nigeria. The International Journal of Entrepreneurial Studies, 6 (2), pp. 63
- Ochelle, J.O. (2014). Women in the rural economy of Igede land since 1960. A research proposal submitted to the Department of History, BSU, Makurdi.
- Odetayo, T. A (2016). Significance of Microfinance Banks in Financing Small Scale Enterprises in Selected Local Government Areas of Osun State Nigeria. Journal of Accounting and Finance Management, 2(3), 12-22.
- Olateju, A.O., Aminu, A.W., Shehu, A. and Danmola, R.A. (2017), The determinants of women entrepreneurs’ access to micro credit programme: A case study of Cowries Microfinance Bank (CMB) Lagos, Nigeria, International Journal of Development and Sustainability, 6 (8), pp. 783-791.
- Oluwole, I. and Azuh, D. (2014). Women Entrepreneurs as Small-Medium Enterprises (SME) operators and Their Roles in Socio-Economic Development in Ota, Nigeria”. International Journal of Economics, Business and Finance, 2 (1), pp. 1-10.
- Phelps, B. E. S. (2016). American Economic Association the Statistical Theory of Racism andSexism Author (s): Edmund S. Phelps Source: The American Economic Review, 62(4), pp. 659-661.
- Popoola Mufutau Akanmu (2012). Women Cooperatives in Ife North Local Government Area of Osun state. (a case study of Asipa and Akinlalu Women Cooperative Societies). Unpublished B.Sc. project at National Open University of Nigeria (NOUN).
- Popoola Mufutau Akanmu (2018). The Impact of Entrepreneurship practice on Poverty Reduction in Nigeria: Evidence from Osun state. International Journal of Advance Research and Innovative Ideas in Education,4(3), pp.762-767.
- Robert, O.S. (2015). Situating the Bekwarra Women’s place inpolitics, ethics, culture and economy in Nigeria. Available at academia.edu. (accessed December 17, 2017).
- Shah, D. and Panigrahi, S. (2015). Determinants of participation of women in Self-Help Groups (SGHs) and credit delivery from formal and informal sources to BPL households in Odisha, Indian Journal of Agricultural Economics, 70(3), pp. 405-416.
- Stiglitz, B. J. E., & Weiss, A. (2016). American Economic Association Credit Rationing in Marketswith Imperfect Information Author(s): Joseph E. Stiglitz and Andrew Weiss Published by: American Economic Association Stable URL: http://www.jstor.org/stable/1802787 Your use ofthe JSTOR arc, 71(3), 393–410.
- Ukommi, A. S. and Agha, E. O (2016), Women Entrepreneurship in Nigeria: A Study of Women in Uyo Metropolis. International Journal of Social Sciences, 10 (4), pp. 103-104.
- United Nations (2014), Empowering Women Entrepreneurs through Information and Communications Technologies; United Nations: Geneva, Switzerland.
- Umeh, O. J., Agu-Aguiyi, F. N. and Ekumankama, O. O. (2017), Effect of Women Co-operative Activities on Entrepreneurship Development of Members in Abia State Nigeria, Nigerian Journal of Agriculture, Food and Environment, 13(1), pp. 80-85.
- Zins, A., & Weill, L. (2016). The Determinants of Financial Inclusion in Africa. Journal of Advanced Research, 6(1), pp.46-57.
|