ISSN 2348-3156 (Print) International Journal of Social Science and Humanities Research ISSN 2348-3164 (online) Vol. 10, Issue 4, pp: (416-421), Month: October - December 2022, Available at: www.researchpublish.com
ASSESSMENT OF THE INFLUENCE OF FINANCIAL FACILITIES ON ECONOMIC EMPOWERMENT OF WOMEN IN SUMBAWANGA DISTRICT, RUKWA REGION, TANZANIA Lightness Stanley Msemo1, Msafiri Allen2 Department of Business, University of Arusha, Tanzania DOI: https://doi.org/10.5281/zenodo.7315407
Published Date: 12-November-2022
Abstract: The study analyzed the influence of financial facilities on women economic empowerment in Sumbawanga district. The study applied survey research design using quantitative approach. The target population were women aged above 25 years of age in Sumbawanga District Council. The respondents of the study were selected using simple random sampling technique. Data were collected using questionnaire. The reliability of the questionnaire was tested using Cronbach’s alpha coefficient. Validity was determined using expert judgement. Data were analyzed using descriptive statistics by applying average mean scores. The findings of the study revealed that financial facilities influence economic empowerment of women. Based on the study it was recommended that, women empowerment activists and governments should strive to empower women through promoting access to financial facilities in order to enable women access sources of capital for businesses start-ups and be able to sustain their families. The study further recommends future researchers to research other factors that determine economic empowerment other than financial factors in Sumbawanga district council. Keywords: Women Economic Empowerment, Financial facilities.
1. INTRODUCTION Gender inequalities can be attributed to limited access to financial facilities, limited access to productive resources, limited access to financial services and limited access to technology and other constraints limiting employment options and participation in decision-making (UNDP, 2022). Women economic empowerment has gained great attention among policy and development stakeholders (Moindi, 2012, OECD,2020, UNDP, 2022). Women empowerment refers to the state of individual and collective increased economic advancement, access to power, agency, and control of economic resources and participation in key economic decisions (USAD, 2021). Economic empowerment considers women involvement in labour market, women contributions recognition, respect of their dignity and fair sharing of economic resources. Women empowerment has a number of benefits to the society and the economy which include; better off women, happier women, prosperous economy (OECD, 2018; OECD,2020). Investing in women in all economic empowerment diversity is investing in their community and countries. The SDG urges all its member states to promote gender equality and empowerment of women as a best way to fight hunger, poverty, diseases and unsustainable development (UNDP, 2022). Persistent gender disparity hinders access, ownership and control of economic resources among women (Moindi, 2012, USAID, 2021). This leads to social insecurity, low quality of life, sense of powerlessness and lack of life opportunities. When women are granted access to economic resources, education, decent livelihood, managerial and leadership opportunities their economic empowerment and economic wellbeing are achieved (USAID, 2021).
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