Economic Empowerment Case Study

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CHAPTER TWO: CASE STUDY: AN ANALYSIS OF THE FISCAL RELATIONSHIP BETWEEN EQUITY BANK, THE WOMEN'S ENTERPRISE FUND AND WOMEN IN THE INFORMAL SECTOR . Female economic empowerment is influenced by access to finance and capital. This chapter seeks to analyze the extent of this assertion by critically assessing information attained through fieldwork across the aforementioned financial institutions and among women in the informal sector. The fieldwork was carried out over a period of two weeks within the two institutions and a focus group discussion among five women working in and or owning enterprises in the informal sector. The fieldwork was structured along interview questions drafted prior to the interview sessions specific to the different…show more content…
Langat admits the immense potential of mainstream banking facilities in offering women more funds; he however constantly asserted that the bank should be left to decide where and to whom it shall invest in. The principal objective of the bank is to maximize its profits and this requires more secure credit systems that require solid collateral pledges such as land and other assets with significant value. Legislative intervention according to Mr. Langat shall be detrimental to the interest of the institutions and further is interference with a neo-liberal free market economy. Statutory directives on investment decisions that the bank is to make is a direct limitation on the principles of a free market economy and is an imposition of onerous regulations on the financial service sector and its development. In short additional legislation is seen as a negative factor in the market and its interests. When questioned on the issue of self promotion as opposed to obtaining visibility for financial inclusion mechanisms that it had partnered with the government to provide; Mr. Langat came out in support of the banking institutions by stating that the requirements of first obtaining an account with the institution are an assessment mechanism of the credit worthiness of the clients to curb unnecessary…show more content…
KSHS 10,000-KSHS. 50,000 2 EVALYNE NANJALA 28 CANTEEN ATTENDANT- PARKLANDS POLICE STATION. KSHS.10,000-KSHS.50,000 6 MARY KITAVI 30 FRUIT VENDOR-PARKLANDS KSHS. 10,000-50,000 3 MARY ATIENO ONYANGO 56 BRAIDING SALON OWNER – KENYATTA MARKET KSHS. 50,000 -100,000 24 REDEMPTA NDUNGE 35 DUKA PROPRIETOR AND MPESA AGENT-1ST AVENUE PARKLANDS. KSHS. 10,000-50,000 10 The following thematic areas arose and were evident during the focus group discussion with the women. Limited Access to Banking Services It was clear that most of the women did not have bank accounts at the very least; of all the five women participants; only two; Mary Kitavi and Redempta Ndunge had bank accounts. Mary Atieno states that she used to bank consistently for about 22 years and recently stopped banking and instead chose to save with her merry- go- round women's investment group (Chama).Evelyn Nanjala stated that the reason she did not have an account with any bank was because she has no prior knowledge on how to open and maintain a bank

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