Challenges of Rural Womens in Access of Micro-Credit and Saving: (In Case of Omo Micro Finance Wolaita Zone,Soddo Zuriya Woreda Kokate Marachere Kebele)

Abstract

Micro enterprises in particular are considered important in contributing to the socio economic empowerment of the women. However, access to credit continues to be a major constraint for female entrepreneurs, particularly with regard to access to loan able funds, lending conditions and repayment arrangements. So that, this shows that there is need for provision of microfinance service for the poor, especially for women in rural areas. Therefore, the prime objective of this study was to identify the challenges of rural womens in access of micro-credit and saving of omo micro finance wolaita zone,soddo zuriya, Kokate Marachere kebele. The study employed cross-sectional survey design. Sample respondents were selected using simple random sampling technique. Data collected through interviews were analyzed qualitatively; whereas data collected through questionnaires were analyzed quantitatively using descriptive statistics. In this study demographic factors, socio economic factors, intuitional factor and psychological factors were assessed. Lack of education, lack of training program, high interest rate and lack of decision making power of women and attitude towards were the main challenges of rural women participation in micro-credit and saving service finally, Based on the findings, the researcher has forwarded the following possible recommendation. It is better if Omo micro finance provide training program to create awareness to its clients also it is better if Omo micro finance provide awareness creation program to rural women

Keywords: challenges, micro finance, micro credit, saving