Microfinance is a category of financial services targeting individuals and small businesses who lack access to conventional banking and related services.
Colleges and Universities Offering Master of Science in Microfinance in Ghana:
UCC
Entry Requirements:
First-degree holders (at least a second class lower division award) with professional experience in any of the following related areas: finance, banking, and any other social science subject area.
Potential participants without a first degree but who possess professional and other related qualifications will be assessed by the Department for consideration into the program.
What is microfinance and how does it work?
Microfinance also called microcredit is a way to provide small business owners and entrepreneurs access to capital.
Essentially, microfinance is providing loans, credit, access to savings accounts even insurance policies, and money transfers to the small business owner and entrepreneur.
What is an example of microfinance?
These loans are generally issued to finance entrepreneurs who run micro-enterprises in developing countries.
Examples of micro-enterprises include basket-making, sewing, street vending and raising poultry.
The average global interest rate charged on micro-loans is about 35%.
What is the main purpose of microfinance?
The purpose of microfinance loans is to generate income
As it is well known that microfinance loans are only given to low income group people and small businessmen.
How did microfinance affect your life?
From the analysis of data, we found that microfinance has a positive impact on the standard of living of poor people and on their lifestyle.
It has not only helped the poor people to come over the poverty line but has also helped them to empower themselves.
What is the difference between bank and microfinance?
Commercial banks usually provide financial services to people and corporations who have their accounts in their banks, while Microfinance institutions provide financial services to usually rural households with low income and asset bases.