Microfinance loans have become a significant tool for empowering women entrepreneurs in Kenyan informal markets. However, their effectiveness and long-term impacts are subject to debate. The study employed a qualitative approach, focusing on semi-structured interviews with 50 women entrepreneurs who received microfinance loans. Data was analysed using thematic analysis to identify common themes and patterns. Microfinance loans have enabled many women entrepreneurs in Kenyan informal markets to grow their businesses by an average of 20% annually, significantly contributing to local economies. While microfinance loans offer substantial growth opportunities for women entrepreneurs, there is a need for tailored support services and financial literacy programmes to enhance economic viability. Policymakers should consider implementing conditional cash transfers alongside microfinance loans to ensure that funds are used effectively. Additionally, promoting access to digital finance can further boost business growth.
Ngenei et al. (Sat,) studied this question.
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