The Role of Microfinance Institutions in Disaster Management A Case Study of Upper West Region -Ghana

Abstract

This paper studied the role of Microfinance Institutions in Disaster Management in the Upper West Region of Ghana. The methodology used was both secondary and primary data. Stratified sampling method was also used. The total population was 200 with a sample size of 95 disaster victims and five Microfinance Institutions. The main objective of the study was to find out how Microfinance Institutions assist their clients in times of disaster. The study found that 40% of the victims received reliefs from some Microfinance Institutions, just as 30% received relief items from other organizations. It indicated that female forms the largest percentage of victims during disaster constituting 65% whiles their male’s counterparts constitutes 35%. The study also established that Moslem victims formed the majority of disaster victims with 67% whiles Christians constitutes 33% of the victims. The research revealed that 5% of the victims received support from family and friends whiles 25% of the victims did not received any assistance at all. The study further shown that, 90% of those victims who accessed the loan facility have paid back with the required interest. Based on the above findings the paper recommended that stakeholders in disaster management should ensure that all disaster victims benefits from the relief items. Microfinance Institutions should endeavor to develop special loan products for disaster victims.

Keywords: Disaster management, microfinance, beneficiaries, Ghana