Challenges Faced by Women Entrepreneurs in Sourcing Micro Finance in Ghana; Evidence from Kumasi and Sunyani Markets

Access to adequate and affordable credit for businesses remains one of the key challenges to economic development in Ghana despite efforts by government, non-governmental organizations and private sector organizations to address this constraint. The Focus of this paper is to investigate the challenges faced by women entrepreneurs in sourcing micro finance in Ghana. A total of 120 respondents were interviewed out of which 80 and 40 women entrepreneurs from Kumasi and Sunyani respectively using convenience sampling. The results confirmed that women entrepreneurs in Kumasi and Sunyani markets are faced with the challenges in accessing loans from microfinance institutions. The study recommends that efforts should be made by micro financial institutions to intensify their campaign to encourage women entrepreneurs to opening savings accounts to improve access to credits.