The perceived roles of microfinance banks in the growth of entrepreneurial marketing activities of women in benin city

The study examined the perceived roles of microfinance banks in the growth of entrepreneurial marketing activities of women in Benin City. The specific objectives were to determine the roles of microfinance banks in enhancing the growth of entrepreneurial activities of women, find out the extent of access to loans from microfinance banks by women, the influence of age of women in benefitting from loans from microfinance banks, the place of education, religion and marital status of women in accessing loan facilities from microfinance banks.

Explorative survey design was adopted through the use of research questionnaires. Purposive sampling technique was used in choosing all the women in the three local government areas that make up Benin City as the population of study. Simple random method was adopted in selecting 15 wards each from the three local government areas and convenient sampling method was deployed in selecting 34 women each out of the 15 wards making a total of 510 as the sample size. Out of the 510 questionnaires administered 449 were retrieved and found usable for the study.

Descriptive and inferential statistics were used for analysis. The results of analyses revealed that majority of respondents agreed that the key role of microfinance banks is to enhance the growth of entrepreneurial marketing activities of women in particular in Benin City. Overwhelming number of the respondents deposed that women in Benin City have access to loans from microfinance banks. Also, age, education, religion and marital status influenced women access to loans in MFBs. It was recommended among others that adequate publicity should be given to the financial services of MFBs to create more grass root awareness.