This study will examine the intricate interrelationship between microfinance and poverty reduction in the specific case of Cameroon by examining two Microfinance Initiatives (MFIs) during the author’s 3-month visit to the country.
The World Development Indicators (WDIs) continue to show sub-Saharan Africa lagging behind in reaching the Millennium Development Goals (MDGs) specifically, poverty reduction. Specifically, Cameroon has been placed in the Least Developed Countries (LDCs) category of the development indicators by the World Bank.
Scholars, development practitioners and policy makers generally perceive access to credit as one of the main determinants of poverty reduction in developing countries. However, in many of these countries billions lack access to formal credit markets. Billions of dollars have been invested into microfinance with the goal of reducing poverty. That, coupled with the trillions of dollars of foreign aid to developing nations has produced poor results. The author provides an in depth overview of relevant theory to the reader. Clear and concise definitions of microfinance, poverty reduction and sustainable development will be used in order to successfully comprehend the importance of conducting this research leading to a thorough understanding of the author’s hypothesis that theory only partly accounts for what happens in the world of microfinance. Holistic microfinance programs are more successful in Cameroon, by giving the poor necessary tools to accompany their access to credit. The author examines two MFIs, The Popular Savings Bank for Development (C.E.P.D) and the Financial Mutual for African Women, (MUFFA) whose missions target poverty reduction in rural and urban Cameroon. The author will use Theory Testing Case Studies along with collection of data from field research to validate or disprove her hypothesis.
Key words: Microfinance, Capabilities Approach, Social Norms, Social Capital, Traditional Savings Group
|School:||The American University of Paris (France)|
|Source:||MAI 56/02M(E), Masters Abstracts International|
|Subjects:||Finance, International Relations, Public policy, Sub Saharan Africa Studies|
|Keywords:||Cameroon, Developing nations, Microfinance, Social capital, Social norms|
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