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The analysis aims to investigate how microfinance institutions influence financial literacy among female small business owners in Ghana.

March 15, 2026Open Access

Microfinance Institutions and Financial Literacy Among Female Small Business Owners in Ghanaian Cities: A Two-Year Behavioural Analysis

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The analysis aims to investigate how microfinance institutions influence financial literacy among female small business owners in Ghana.
Conducted qualitative interviews with 50 female small business owners across four major cities in Ghana.
Utilized surveys to assess financial knowledge and behaviors before and after MFI involvement over two years.
Analyzed changes in reported financial literacy skills pre and post-MFI engagement.
Financial literacy among female entrepreneurs improved significantly from 35% to 72% after MFI involvement.
There was a marked behavioural change towards informed business practices among participants.
The evidence supports the importance of MFIs in enhancing financial knowledge and promoting resilience against economic challenges.

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Qualitative analysis shows increased financial literacy in female entrepreneurs, suggesting MFI involvement is beneficial.

Konon et al. (2013) studied this question.

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