Assessing the impact of village savings and loan association in the socio-economic empowerment of women in Matany Sub-County, Napak District, Karamoja Region

Abstract

The purpose of this study was to establish the relationship between credit schemes and financial accessibility in Matany Sub County, Napak District.It sought to find out the activities implemented by the VSLA; establish how these activities have contributed towards women empowerment in Matany Sub-County Sub County; and the challenges faced in the VSLA. The researcher used case study design which described the process and characteristics of socio-economic empowerment, activities like managerial skills, trainings such as record keeping, challenges like loan defaults payment and grace periods and collateral security. Findings of the study revealed that the establishment of village savings and loans association had played a positive role on the socio-economic empowerment of women as well as improvement of peoples standards of living thus it enhanced the development of a rural setting as per the case of Matany Sub-County The study recommended that in order to attain full development and financial accessibility in Matany Sub-County, the government should facilitate the uneducated people with adult literacy services, the VSLA should develop more loans for people who are lacking security and hedge against credit risk through proper credit rating and allowing members to form core groups which would act as security. Finally Akai-aikenyVSLA should value more inclusion of the needy like widows, children and divorced