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March 2013 Vol. 2 Issue
2
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Donkor JA
Offei-Ansah C
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Global Advanced
Research Journal of Peace, Gender and Development Studies (GARJPGDS)
March 2013 Vol. 2(2), pp.
026-033
Copyright © 2013 Global Advanced
Research Journals
Full Length
Research
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Management of
credit by rural women in central region of Ghana
Joana Antwi Donkor1*, Modesta Efua
Gavor2 and Christina Offei-Ansah2
1Department
of Home Economics Education, University of
Education, Winneba, P. O. Box 25, Winneba, Ghana.
2Department
of Vocational and Technical Education, University of
Cape Coast, Cape Coast. Ghana.
*Corresponding Author’s E-mail:
chinivans@yahoo.com
Accepted 8 February 2013
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Abstract |
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The purpose of the study was to find out how women
manage credit in rural district in Ghana
and examine the relationship between credit
management and age and educational level of women.
One hundred and eighty-three respondents were
randomly selected from four different groups of
women engaged in small scale businesses in rural
communities in Ghana. Data was collected with
structured interview schedule. The results were
analyzed and presented in frequency, percentage;
mean, standard deviation, correlation and regression
tables. Findings revealed that most of the women
sourced credit from informal sources such as
friends, family members and credited items from
wholesalers. The women lacked proper credit
management skills and therefore managed credit
sourced in their own informal ways such through
daily ‘susu’ contribution, kept sales of various
items sold in different containers and records of
purchases and sales kept in memory and set money
aside for replacing equipment. Also, they managed to
honour repayment because it was upon regular
payments agreement of credit that more credit was
given to keep them in business. Based on the
findings, it is recommended that the micro-credit
financial institutions and the local government who
offer credit to such small scale businesses as well
as the universities should organize credit
management programmes as part of their community
service to train the women on skills in record
keeping, savings and the application of principles
of credit management especially budgeting in order
to effectively manage credit sourced.
Keywords:
Financial Management, Credit, Credit management,
Rural women
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