EVALUATION OF UGA MICRO FINANCE BANK
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EVALUATION OF UGA MICRO FINANCE BANK
BACKGROUND OF THE STUDY
The origins of microfinance can be found as far back as the middle of the 19th century, when theorist Sanders Spooner wrote on the advantages of small loans to farmers and entrepreneurs as a means of lifting people out of poverty.
The Marshall Plan, however, had a significant impact on the idea towards the conclusion of World War II. The term “micro financing,” as it is used now, has its origins in the 1970s, when businesses like Grameer Bank of Bangladesh and Mohammad Yunus, a pioneer in the field, started and shaped the current microfinance sector (Wikipedia, 2015).
Microfinance institutions were created in the 1980s in the United States. They provided services to low-income and underserved minority groups.
According to Wikipedia (2015), there were 200 lending institutions and 500 microfinance organisations functioning in the US by 2007.
The first credit union in Africa was founded in 1955 by Canadian Catholic missionaries in Northern Ghana. Susu, one of Ghana’s microfinance programmes, is believed to have begun in Nigeria and spread to Ghana in the early 20th century (www.economicswebinstitute.org).
In 2005, former CBN governor Professor Chukwuma Soludo introduced the micro finance policy, which marked the beginning of microfinance banking in Nigeria.
The widely recognised ability of microfinance to assist the economically engaged poor to cross the poverty line and so significantly reduce poverty has an impact on the policy.
As a result, micro finance banking was created with the hope that it would eventually contribute to a decrease in poverty in the nation (Ngutor Nyor, 2013).
Following a 2005 government policy that resulted in the conversion of community banks into micro finance banks, micro finance banking was established in the state of Anambra (Chukwuma 2007). Many institutions received preliminary approval while others received full licences.
The introduction of the microfinance bank in Uga in 2005 led to the conversion of the community bank there to a microfinance institution with provisional approval (Umunne, 2009).
1.2 STATEMENT OF THE PROOBLEM
Despite the significance of microfinance banks to the community, both employees and clients have complained about
The first is the place
2. The appearance
3. Space
1.3 AIMS AND OBJECTIVES
This study’s objective is to assess the building’s location, design, and layout for the Uga Micro Finance Bank.
OBJECTIVES
1. To choose an appropriate location for the Uga Micro Finance Bank structure.
Redesigning the Uga Micro Finance Bank building.
3 to furnish Uga Micro Finance Bank with suitable spaces.
1.4 RESEARCH QUESTIONS
Is Uga Micro Finance Bank in the proper location?
ii Is the Uga Micro Finance Bank’s design practical?
Does Uga Micro Finance Bank have comfortable interior spaces?
1.5 SIGNIFICANCE OF THE STUDY
The results of this study will have a big impact on how Uga Micro Finance Bank is redesigned.
Additionally, the study will offer a convenient location for staff and customers. The study will give the Uga Micro Finance Bank comfortable, ventilated spaces.
1.6 SCOPE OF THE STUDY
The purpose of this study is to assess the location, layout, and space of the Uga Micro Finance Bank. Only micro financing banks were covered, not Akpo micro finance banks.
1.7 LIMITATIONS
1. The researcher received inadequate attention because the bank was no longer under federal government jurisdiction.
2. It was difficult to get a list of the staff and consumers.
3. The majority of customers did not respond to the survey.
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