Impact of Micro Finance Bank on Women Entrepreneurial Development in Fufore Local Government Area, Adamawa State Nigeria

Abstract

There are series of microfinance programme and policies put in place by Nigerian government to alleviate the rate of poverty through empowering people to increase access to credit facilities. The paper tries to evaluate the impact of Fufore Micro Finance Bank (FMFB) on women entrepreneurial development. Among the objective of this study was to examine the impact of FMFB in contributing towards women economic and financial sustainability. The problem of the research emerged out of the need to assess the extent to which FMFB contributed to women entrepreneurial development. Descriptive study was used. Simple percentages and chi square were used for data analysis. The study found that women entrepreneurs knew about FMFB existence and the value of X²cal is greater than the X²tab, which indicates a positive response of FMFB. The FMFB had also influenced positively in promoting socio-economic life of women entrepreneurs. The study recommends that FMFB should come up with strategies to attract more investors and women participation in entrepreneurial activities and encourage women self-reliance and financial sustainability in Fufore.