Women Economic Self Reliance and Access to Microfinance Services: A Case of Caritas Microfinance Ruiru in the Archdiocese of Nairobi
DOI:
https://doi.org/10.53819/81018102t3135Abstract
This paper examines the role of microfinance services in promoting the economic independence of women in Ruiru Sub-County, Kenya, with a focus on Caritas Microfinance Institution. Despite increased access to microfinance among women, achieving long-term economic empowerment remains a complex challenge. Employing a mixed-methods approach that combines descriptive survey and qualitative research, the study investigates how access to loans, financial literacy levels, educational background, and group by-laws influence women's economic self-sufficiency. Data were collected through structured questionnaires and interviews involving 392 women, including 24 purposively selected group leaders and Caritas officials. The findings indicate that microfinance positively contributes to business initiation and asset ownership; however, its effectiveness is limited by unfavorable loan terms and inadequate financial education. The study highlights the critical role of microfinance, education, and capacity development in achieving sustainable economic independence. It recommends the expansion of training programs and the development of more flexible credit schemes tailored to women's needs.
Keywords: Women, Economic Self Reliance, Access, Microfinance Services, Caritas Microfinance, Ruiru
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