Effect of Microfinance Services on Women’s Socio- Economic Empowerment in Kicukiro District, Rwanda
Anthony Muvunyi and Ruth Odengo
University of Kigali
Email: muvunyianthony26@gmail.com
Abstract: This study assessed the effect of Microfinance Services on Women’s Socio-Economic Empowerment in Kicukiro District, Rwanda. Specifically, it assessed the effect of savings services on women’s socio-economic empowerment in Kicukiro District, Rwanda. The study employed a descriptive and correlational research design using a mixed-methods approach. The target population consisted of 530 respondents, from which a sample size of 228 respondents was determined using Yamane’s formula. Data were collected through structured questionnaires and documentary reviews. Of the 228 questionnaires distributed, 208 were completed and returned, representing a response rate of 91.2%. Quantitative data were analyzed using descriptive statistics, Pearson correlation analysis, and regression analysis. The descriptive findings indicated that savings services were highly perceived among respondents, with an aggregate mean of 4.22 and a standard deviation of 0.79. Pearson correlation analysis revealed a strong positive and statistically significant relationship between savings services and women’s socio-economic empowerment (r = .813, p < .01). The regression results reported in the original study further showed that savings services had a positive and statistically significant contribution to women’s socio-economic empowerment (β = .525, p < .001). The findings indicate that participation in savings groups, access to funds for emergency needs, improved financial discipline and planning, accumulated savings for income-generating activities, and increased financial independence were important aspects of savings services. The study concludes that savings services significantly contribute to women’s socio-economic empowerment in Kicukiro District. It recommends strengthening accessible savings mechanisms, promoting regular saving, improving financial planning support, and increasing women’s awareness of savings opportunities.
