Microfinance Adoption and Profitability Among Female Small Business Owners in Accra, Ghana: A Survey Analysis

Microfinance services have gained traction in addressing financial inclusion for women entrepreneurs in urban settings, particularly in developing countries like Ghana. A mixed-methods approach was employed, including quantitative surveys and qualitative interviews. Data were collected from 150 randomly selected female business owners representing various sectors across Accra. Female microfinance recipients reported an average adoption rate of 42%, with significant variation in profitability metrics depending on sector type and loan size. The findings suggest that while microfinance can be effective, tailored financial products and supportive services are necessary to enhance uptake and profitability among female entrepreneurs. Microfinance providers should consider offering more flexible and diverse product offerings to better meet the needs of female business owners in Accra. Additionally, capacity-building programmes for these entrepreneurs could improve their economic outcomes. microfinance, small businesses, women entrepreneurship, Accra, Ghana