Improving the Global Economic Environment by Empowering Women
Women in developing economies are, historically and traditionally, the breadwinners for their families. Improving the global economy, specifically in African society, requires that women be empowered, financially, socially and intellectually. However, this empowerment generally is diminished given the limitations placed on them by men. Micro financing is intended to alleviate poverty by providing small loans to help women develop small businesses. Micro financing programs have, undoubtedly, helped to lift millions out of poverty. Perhaps greater emphasis might be placed on wealth development, and less on poverty alleviation. This article will identify and discuss factors essential to building wealth in African economies. It will attempt to define empowerment and to answer the question, is microfinance a viable approach in developing countries and in the U.S.?
Keywords: Micro Finance, Wealth Creation, Poverty Alleviation, Empowering Women
Dr. Ann-Lorraine Edwards
Visiting Assistant Professor of Management, Department of Management & Marketing