Microcredit Schemes: A Tool for Promoting Rural Savings Capacity among Poor Farm Families: A Case Study in the Eastern Region of Ghana
Read full paper at: http://www.scirp.org/journal/PaperInformation.aspx?PaperID=53109#.VLXH9MnQrzE Author(s) Mercy Asamoah 1* , Akosua Darkwah 2 , Franklin Manu Amoah 1 Affiliation(s) 1 Cocoa Research Institute of Ghana (CRIG), New-Tafo Akim, Ghana . 2 Department of Sociology, University of Ghana, Accra, Ghana . ABSTRACT Savings mobilization is crucial for any viable economic and investment activity. In rural agricul-ture, the ability to save or to mobilize capital in cash at bank or stock of wealth is a major prerequisite as the collateral for accessing bank loans. The ability to save among rural poor households is however, difficult due to their low income levels and inability to make personal savings commitment. According to Yunus (2000) [1], failure of traditional financial institutions to extend credit to the poor is the single most important reason for the perpetuation of poverty. Nevertheless, since the early 1980...