The Role of Micro Insurance on Poverty Reduction: A Study of Insurance Companies in Ghana (Published)
Purpose- The purpose of this paper to investigate, explore and assess the role of Micro-insurance in poverty reduction Design/ methodology/approach- This paper is a qualitative analysis based on three case studies. Non-probability sampling techniques are used for choosing the unit of analysis which resulted in 4 firms (4 managers). Also, data were collected via a questionnaire and an in-depth interview. Findings- The study identified that Micro-insurance provides financial support to the poor in the event of a disaster, social protection against disasters and shocks, savings, employment, and as well as enhances asset accumulation among clients. The study found that the lack of innovative micro-insurance product, inadequate distribution channels, the lack of supportive micro-insurance legal framework, uncompetitive pricing of micro-insurance products, low government support in micro-insurance programs, low-income levels of respondents, the religious or cultural factors influence the demand of insurance products and low public trust are the factors that affect the demand of micro-insurance products. Also, the study found that the development of innovative products, establishing processes that build trust in clients, instituting efficient service delivery channels, documentation should be simplified and the government should support micro-insurance products are the ways to increase patronage of micro-insurance products.Research limitations- the sample size is still limited and in the future, a quantitative analysis should be used. The study is limited in terms of geographical area. The findings of the study are more likely to hold for another Sub-Saharan context. However, the applicability of these findings to other contexts needs further investigation. Originality/value- while interest in micro-insurance is increasing in emerging markets, there is little known and written on micro-insurance. Therefore, the role of micro-insurance has not been explored so far.
The Role of Adult Education in Poverty Alleviation among Nigerian Rural Women: A Panacea for the Achievement of Goal One of the Sustainable Development Goals. (Published)
Poverty has been identified as a major challenge to the growth and development of African countries. It is also recognized that women and girls who reside in the rural areas constitute the largest percentage of the poor in Nigeria. Various poverty alleviation programmes have been adopted by successive governments to address poverty issue in Nigeria but the fact is that the condition of the poor has not improved. This paper examines the importance of adult education in alleviation of poverty among rural women in order to achieve “Goal one” of the Sustainable development goals. The paper posited that adult education for women is a powerful tool which will break the endemic cycle of poverty in rural communities. The writer concluded that low level of education among rural women and their non-participation in poverty alleviation programmes compound their poverty problems. Thus, the paper recommended among others that government should step up investment in adult education programmes and involve rural women in poverty alleviation programmes.
The Impact of N-Power Programmes on Poverty Alleviation in Nigeria: A Study of Rivers State (Published)
The study examined the impact of N-Power programmes on poverty alleviation in Nigeria: A study of Rivers State. Survey design was used in this study to generate data. A sample of 400 respondent youths was studied. After going through them 381 copies (i.e. 95.25% response rate) were found useful for the data analysis. Descriptive and inferential statistics were used to analyse data in this study. Pearson’s Product Moment Correlation Co-efficient (r) was used to test the hypotheses. The study found that the major N-Power programmes used towards Poverty alleviation in Rivers State included: N-Power Teach, N-Power Build, N-Power Creative, N-Power Agro, N-Power Tech Software N-Power Tax, N-Power Health and N-Power Tech Hardware. The study revealed that N-Power Programmes’ beneficiaries were mainly university and polytechnic graduates. The study found that the major factors that affected the implementation of N-Power programmes included: Insufficient information, non-payment of stipend to participants as at when due, bribery and corruption, wrong bank verification number (BVN), overbearing hands of politicians in the programme etc. It is evident and conclusive that: There is significant relationship between N-Power programmes and poverty alleviation in Rivers State and there is significant relationship between N-Power programmes and empowerment of the youths in Rivers State. The study therefore recommends that the authorities concerned should promote rural development through N-Power programmes. Also, government at all levels should reactivate moribund industries and enterprises and expand the horizon of N-Power programmes in that direction
The concept of integrating social aims with profit-making is an emerging trend in the world today, especially in the wake of the 2007-2009 financial crisis which shone the spotlight on the problems of pure profit maximisation. Social enterprise is at the very core of this new movement to integrate social aims with profits, taking root in an increasing number of circles. The Botswana situation is marked by social enterprise being almost non-existent as a concept in the general consciousness. In spite of this conceptual absence, it can be argued that the main ingredients of social enterprises have played a substantial role in the historic formation of the Botswana welfare state in the form of cooperatives. In the first period the workers’ and farmers’ cooperative movements were the most influential actors concerning improvement of livelihoods. As such, this paper will seek to understand the emergence of social enterprises globally and how Botswana as a country can increasingly apply the tool of social entrepreneurship to address a plethora of differing social issues, such as extreme poverty and unemployment, in ameliorating and improving the condition of the people.
Several poverty alleviation programmes in Nigeria, initiated by both the Government and Non-Government Organisations (NGOs), aimed at combating and alleviating poverty, have been found not to be successful. Instead of reducing the incidence of poverty, which is their sole aim, these programmes tend to serve as means for draining the national resources due to the pursuit of parochial interests, as a result fostering corruption and dishonesty. For a successful implementation of these programmes, the government and the implementation agencies must take a more proactive approach and specifically look into the area of poor management and poor accountability, among staff. Also poverty is a multidimensional issue, hence cannot be fought focusing only on one sector of the economy, strategies for poverty reduction must also be multidimensional, focusing on all sectors, as well as, on the emancipation of the poor. Strengthen the existing poverty alleviation strategies and ensuring good management could be one major way towards the effective performance of existing poverty alleviation programmes.
Introduction: Poverty and income inequality were two main problems of Brazil. In order to solve these problems Brazil have taken different policy initiatives. The economists call it an innovative anti-poverty and inequality model. Objectives: The objectives of this paper is to study different aspects of Brazilian innovative anti-poverty and inequality model and its impact on Brazilian society. Another objective to study is whether this model is specification in its applicability or it may be applied on other medium-income economies because income inequality and poverty are the common problems of almost all developing countries. Methodology of study: This is a qualitative research study in which we have studied different characteristics in general terms and policies introduced by Brazilian government during 2000-2010 period. We have used secondary data extracted from the database of IMF, World Bank, US Federal Reserves, US Bureau of Economic Analysis and relevant journals. Findings & Results: Our study finds hat poverty in Brazil has reduced from 17 percent in 2000 to 8 percent in 2010. The evidence also shows that the wealth of the richest 20 percent of upper class was decreased during 2000-2010 due to high tax rates payment and the income of lowest 20 percent quintile was increased from 2.6 percent to 3.5 percent in the same period. It shows that the income of lower class was increased while the wealth and income of upper class was decreased during 2000-2010. The study also reveals that about half of poor segment of Brazilian population has come out of poverty trap in a short span of just 10 years.
It is historical fact the economic policies play key role in the growth and downfall of different empires whether it was Muslim empires in Spain and India or British Empire, which ruled almost the whole world in 17th and 18th centuries. The emergence of China’s economic growth is the phenomena of 21st century. The author has intended to investigate the Chinese policies in different sectors as the drivers of economic growth during the period 1980-2010.The main objective of this research is to investigate different policies introduced by the Chinese government during 1980-2010 to promote economic growth and to measure their effect at micro and macro level of Chinese economy.The author used secondary date collected from different sources such as IMF,World Bank, Barro and Lee, OECD database, US Bureau of Labour Statistics, US Bureau of Economic Analysis, and relevant Journals. Our findings and results are robust because the evidence proves that different policies implemented by Chinese government have brought substantial positive impact on national economy at micro and macro level.
IMPACT OF MICRO-CREDIT ON POVERTY ALLEVIATION IN NIGERIA – THE CASE OF ENUGU EAST LOCAL COUNCIL (Published)
Poverty has remained a global phenomenon and has defied various attempts at curbing it especially in developing countries. The high and unacceptable number of people within its grip around the world gave it a pride of place as one of the major goals of Millennium Development Goals (MDGs) adopted in 2000. Poverty alleviation was a prime target of the MDGs and micro-credit was recognized as a veritable tool for tackling it. In this paper, we examined empirically the effect of micro-credit on poverty alleviation in Nigeria using some selected rural farm households in Enugu East Local Government of Nigeria. To achieve this, primary data were collected on the sources and access to micro credit; the incidence, depth and severity of poverty among the selected rural households. Appropriate descriptive and analytical tools were employed to process the data obtained. The results of the study show that poverty level is still high among the rural populace; but those that have access to micro-credit seems to have fared better than those who have no access to micro-credit. In other words, access to micro-credit has positive but not significant impact on poverty alleviation among the rural populace. The study recommends that government should intensify effort in its recent financial inclusion strategy to ensure that the rural populace has greater access to micro credits. Government should also ensure that interest rate on micro credits are affordable, the terms of the credits flexible and the conditions attached to the credit well liberalized
Analysis of Impact of National Fadama II Facility in Alleviating Poverty on Food Crop Farmers in Adamawa State, Nigeria (Published)
This study analyzed the impact of Fadama II project in alleviating poverty on food crop farmers in Adamawa state. Data were collected on a sample of 160 farmers and were analyzed using descriptive statistics and Foster, Greer and Thorbecke (FGT) Index. The findings from the study showed that about 24 percent of the respondents lived below the poverty line of $1.25 while about 76 percent are those above the agreed standard accepted in the study. This study shows very few of the respondents were poor hence, the project has made an impact on the poverty level of the crop farmers in the study area. This may be due to the fact that the fadama farmers engaged in different production activities resulting to increase in income thereby reducing poverty amongst them. It is however recommended that, Government should take renewed interest in dry season production by strengthening support and public-private partnership so as to boost production and win niche markets with a challenge of making better markets for farmers
Microfinance and Its Impact on Poverty Alleviation in Nigeria: A Case Study of Some Selected Microfinance Banks in Edo State (Review Completed - Accepted)
This research examines the relationship microfinance and poverty alleviation in Nigeria, to understand the effectiveness of micro credit within the context of its current practice in Edo State in particular, and the nation as a whole as a tool for wealth creation and capital accumulation among the poverty stricken populace and low income earners. The study made use of primary data obtained through field survey from the selected microfinance banks in Edo State and utilized quantitative tools to analyze these data so as to bring out any existing relationship between microfinance and poverty alleviation. The results obtained showed that microfinance has the potential of alleviating poverty by ensuring wealth creation and its attendant self-sufficiency. From our result, about 70% of the sampled population agreed that there is a positive relationship between microfinance and improved standard of living of the recipients of these micro credits; 78% attested that they obtained some sort of credit from microfinance banks to set up their small scale businesses, without which it would be impossible to do so; about 67% said they have used loan collected to expand their business while 24% said they used the loan collected to invest on new technology for their business and the remaining 9% of the respondents obtained loans to facilitate the export of their products. Focus of microfinance programmes in poor communities for it to be meaningful; a massive educational drive on the importance of microfinance in fighting widespread poverty should be launched in the country; etc were some of the recommendations made in this study
Microfinance (Mf) and Poverty Alleviation In Southwest Nigeria: Empirical Evidence (Review Completed - Accepted)
By inspection, observation and government records there are too many poor in SouthWest Nigeria who require micro/small financial services such as credit, insurance, money transfer etcetera in order to engage actively in productive activities and improve their standard of living. Paradoxically, governments across the world, particularly in Nigeria over the years, have not been able to adequately help the poor in spite of all the rhetorics and several failed poverty-alleviation projects. The objective study examines the roles of microfinance towards the dispersion of credit among the working poor and also helped to improve the standard of living in Nigeria. The study draws from the data collected from the field survey and these were reported using tables, frequency counts and cross-tabulations to draw inferences. In addition, a loan demand model was specified and estimated using the Ordinary Least Squares (OLS) econometric technique.The study used cross-sectional data collected from selected respondents in selected areas of both the Lagos and Ogun States of Nigeria respectively. The study confirmed that most of the Microfinance banks in Nigeria are tailored after the Grameen Bank which focuses on the poor and people with basic, little or no education and that loan demand is interest rate insensitive to loan demand. The study recommended that MFIs should design appropriate products that are flexible enough to meet the different needs of the poor for both production and consumption purposes. Government should urgently tackle the infrastructural gaps such as electricity, water and efficient transportation system which impact greatly on the standard of living of the people;
Microcredit And Poverty Alleviation: Strategy For Women’s’ Economic Empowerment In Hududullah Microcredit Company Limited, Birnin Kebbi (Review Completed - Accepted)
Considerable concern has emerged on micro credit and poverty alleviation programmes; little has been explored with respect to microcredit and women empowerment. This paper examines the strategy for women’s empowerment by Hududullah Microcredit Company in Birnin Kebbi, with the view to ascertain the level of poverty reduction on women that are participating in the programme. A sample of 100 women were randomly were selected from a population of 500 women. Primary data was collected using interview method in other to avoid dialect and illiteracy problems. Collected data was analysed using frequencies and percentages on a tabular form. The findings reveal among others that loan was accessible to the women productively utilized by them and raised their level of economic self employment and reliance. Also repayments were successful