The determinants of financial accessibility among people with disabilities in microfinance institutions in Jinja municipality: a case study of Pride Microfinance Uganda limited Jinja branch

Abstract

This study was designed to investigate the determinants influencing financial accessibility among Persons with Disability at pride Microfinance (U) Limited, Jinja Branch. The aim of the study based on four major objectives: social life, access to information and availability of collateral and access to microfinance. However the study intended to answer four major research questions of the revolve around the number of MFI institutions working in the county, micro finance needs of PWDs, factors that affect and hinder accessibility to microfinance by PWDs and exploration of appropriate suggestions to improve micro financing operations in Jinja district pride Microfinance (U) Limited, Jinja Branch. The study adopted descriptive survey design that was carried out at pride Microfinance (U) Limited, Jinja Branch. The study sample comprised of 42 respondents. The instruments of data collection were questionnaires and interview guides. The reliability of the instrument was done by a pilot study in Jinja district. Validity of the instruments was enhanced by requesting the experts in the area of Research. Data was collected, coded and analyzed using SPSS. The data was represented using tables of frequency and percentages. The key findings revealed that social life did not hinder participation in business and access to microfinance, PWD`s lack access to information related to microfinance. The other finding was that availability of collateral hindered access to microfinance by persons with disability. It was reported that most people do not have the saving culture. It is also reported that PWD lack the potential to participate in business and therefore rely on charity. From the study, it was concluded that PWDs were aware of microfinance but MFIs did not give special consideration to them. Lastly collateral mechanisms should be improved so that PWDs could qualify and secure loans and manage interest rates. The study recommended that there is need for microfinance institution to create awareness to persons with disability about microfinance products to alleviate poverty, the government and ministry of gender to open rehabilitation Centre to train relevant disability groups in various skills in the early stages to reduce dependence ratio, the digital era should be embraced by all stakeholders, the computer programs and special software should be made available and affordable to PWD`s. The researcher also recommended for another study to be carried out in reference to each disability – speech, sight, physical impairment and multiple disability. The role of government should also be emphasized in another study.