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SUMMARY
Micro-financing has been hailed as a veritable tool for the socioeconomic growth of less developed economies in the past few years. The role of these institutions has been said to encompass a wide range of the economic life. In this direct encompass direction therefore, its ability to ensure socioeconomic equity is through its activities to the less-reached by the mainstream financial services has come to be a veritable anchor for the emphasis of these institutions in developing economies. In this study, the place of the microfinance institutions stimulating economic growth through improvement in the livelihood of the poor was empirically examined. It is show that the impact of microfinance on economic growth can be determined by the time period-strong in the short run and weak in the long run.
The empirical analysis in this study have helped to address the objectives of the study. In chapter two, the patterns on loan disbursement and other activities of microfinance banks were analyzed.
