Public confidence in microfinance institutions and demand for microfinance services in Ghana
Date
2017-04
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Abstract
This study aims at analyzing the level of confidence in microfinance institutions in the
Greater Accra region, Ghana using a financial services confidence index questionnaire
adapted from the Central Bank of Tukey. The study adds to already existing literature
on microfinance. The survey approach was used to gather data through convenience
sampling. Logistic regression was also used to find the relationship between the
demand for microfinance services and confidence in microfinance services while and
t-test differences in means was used to find the mean confidence differences among
categories in the study sample. The decision to patronize microfinance service is used
interchangeably with demand for and use of microfinance services in this study.
It was found that respondents of the study are optimistic about the microfinance sector
of Ghana. There is, however, no difference between the confidence index of men and
women but women demand microfinance services more than men. A positive
relationship was established between the level of confidence in microfinance
institutions and demand for microfinance services. It was also found that customer
satisfaction and a person’s level of education affects how much confidence he/she has
in the microfinance sector of Ghana.
It is recommended that microfinance operators should take measures to improve the
level of confidence in the sector and increase the demand for their services. Also,
customer satisfaction should be a priority of management of microfinance institutions
in the quest to improve confidence in the sector.
Description
Thesis submitted to the Department of Business Administration, Ashesi University College, in partial fulfillment of Bachelor of Science degree in Business Administration, April 2017
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Keywords
Ghana, microfinance institutions, public confidence, financial services surveys