Women Access To Credit And Its Implications On Household Welfare In Ghana: The Case Of Vsla Model In Gushiegu

Abstract

This thesis examines the impact of women's access to credit on household welfare, focusing on the Village Savings and Loans Association model in Gusheigu, Northern Region of Ghana. Primary data from 280 Village Savings and Loans Association members and 200 non-members were collected through structured questionnaires and analyzed using correlation and regression techniques in SPSS. The findings reveal a positive correlation between Village Savings and Loans Association participation and household income, challenging the null hypothesis that there is no significant link between Village Savings and Loans Association participation and increased household income. The rejection of this hypothesis, supported by a noteworthy p-value of .010, underscores the positive effect of Village Savings and Loans Association participation on household income. Contrastingly, the study did not find support for a relationship between Village Savings and Loans Association participation and household health status or the educational outcomes of children in participant households. Despite these limitations, the research suggests that Village Savings and Loans Association programs hold transformative potential for practitioners aiming to enhance household welfare through tailored financial inclusion initiatives. Policymakers are encouraged to integrate Village Savings and Loans Association models into broader financial inclusion strategies, leveraging their demonstrated impact on household income and healthcare access. While the study did not directly link Village Savings and Loans Association participation to educational outcomes, policymakers should explore complementary interventions to comprehensively address this aspect of empowerment. Overall, these findings position VSLA programs as a viable strategy for promoting healthcare access and improving household income in marginalized communities.