The role of Microfinance institutions in improving the economic welfare of households in Rubaare Sub-county, Ntungamo district; a case study of Rubaare Savings and Credit Association LTD (RUSCA LTD)

Abstract

This paper sought to examine the role of microfinance institutions in improving the economic welfare of households in Rubaare sub county Ntungamo District taking Rubaare Savings and Credit Association Ltd (RUSCA) as a case study. This paper further provides the different services offered by Microfinance Institutions among which include credit services,saving services and training services to the households hence improving their economic wellbeing. Objectives were developed in the bid to find out the extent to which these institutions comprehend people’s lives like; To establish the contribution of microfinance saving services, to find out the contribution of microfinance credit services and to analyse the effect of microfinance training. The use of questionnaires, interviews and group discussions gave results to the study which are showed in this paper where the biggest percentage agree with the topic. However, due to global economic destabilization like inflation and unemployment, the results from the research were also negative (disagreeing). This is what drone the researcher to give recommendations to different parties that is the government, clients among others and suggestions for further study.