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Tumusiime Claire.Pdf EVALUATION OF CREDIT POLICY MANAGEMENT AND PERFORMANCE OF MICRO-FINANCE INSTITUTIONS IN UGANDA A CASE STUDY OF PRIDE MICROFINANCE BY Tumusiime Clare BBA/6067/ 41/DU SUPERVISED BY: Mr. Naleela Kizito RESEARCH REPORT SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF A BACHELOR DEGREE IN BUSINESS ADMINISTRATION AND MANAGEMENT OF KAMP AlA INTERNATIONAL UNIVERSITY • August, 2006 DECLARATION I Tumusiime Clare hereby declare that the following research report under the title "Evaluation of Credit Policy Management and Performance of Micro­ finance Institutions" has never been submitted to any college or university for any award. It is my original work. Signed: ~ ------------------ Tumusiime Clare BBA/ 6067/ 41/DU Date~. ~r.!.~.h .~_gl.U.J] .... ~ .Qh/' APPROVAL This research report on "evaluation of credit policy and performance of Micro- finance Institutions" in Uganda has been carried out by Tumusiime Clare under my supervision and is now ready for submission to Kampala International University. Signed:---~ ------------------------·· Mr. Naleela Kizito S~rvisor Date: ..... ~3 .. l.~ .. r.~.fe................ 11 DEDICATION I dedicate this project to my mum and Dad, Father Bonny, my sisters and brothers. May the Lord God reward them more abundantly. l1l ACKNOWLEDGEMENT With deep pleasure I wish to extend my sincere appreciation to Almighty God for giving me life and blessing my studies. My esteem love goes to my brothers; Francis, Justus, Julius, and my sisters; Rita and Sharon who had to endure a long period of struggles to support me as their sister. My sincere thanks also go to the entire staff of Kampala International University for their love and services rendered. More especially to Professor John Peter Opio I and Mr. Naleela Kizito, my supervisor who worked tirelessly, showed patience in I guiding me in the research. l I Further more, I would like to recognize the cooperation of Kampala Interantional ( f University Students especially Adupa Richard, Turyahebwa Abanis, Mambo Ali, I ! and Bosa John during the difficult time of my studies. If t ( lft Finally, I appreciate the acceptance and sincerity respondents who responded to my inquiries for the study. Sincerely, a piece of work of this nature would have not come out without the effort of Mr. Owayezu Justus, I acknowledge the neat typing. lV ABSTRACT The study aimed at finding the relationship between credit policy management and performance of Micro-finance Institutions in Uganda. It mainly looked at Pride Uganda in Kampala city. The study was intended to evaluate the credit policy management elements in Uganda. The researcher utilized both quantitative and qualitative methods for data analysis. Respondents included credit officers and MFI clients, both male and female. The outcome of the research revealed that there are specific yardsticks for measuring credit performance; business profitability, groups' ability to repay the loan, Frequency of loan taking, level of savings, credit management and long term survival of an individual business. The study concludes that great efforts are being put by MFis to ensure their performance and the efforts of their regulatory body (MFRC), which makes their operations easier. Though there are still some difficulties especially on the side of the credit takers, who at times fail to reimburse credits taken by them. This is also associated with ignorance however; MFis are trying with greater efforts to ensure good use of funds/loan taken by their customers. Such efforts are all enhancing MFis performance. V TABLE OF CONTENTS Content Page DECLARATION ......................................................................................................... i APPROVAL ............................................................................................................... ii DEDICATION ......................................................................................................... .iii ACKNOWLEDGEMENT ......................................................................................... iv ABSTRACT ............................................................................................................... v TABLE OF CONTENTS ........................................................................................... vi APPENDICES ......................................................................................................... vii LIST OF TABLES ................................................................................................... viii LIST OF FIGURES ................................................................................................ viii LIST OF ABBREVIATIONS .................................................................................... ix 1.0 Introduction ............................................................................................... 1 1.1 Back ground of the study ........................................................................... 1 1.2 Statement of the problem ......................................................................... 3 1.3 Purpose of the study .................................................................................. 3 1.4 Objectives of the study............................................................................... 3 1.5 Research questions .................................................................................... 3 1.6 The scope of the study ............................................................................... 3 1.7 Significance of the study ............................................................................ 4 LITERATURE REVIEW ........................................................................................... 6 2.0 Introduction ............................................................................................... 6 2.1 The Microfinance Industry in Uganda ...................................................... 6 2.2 Performance ofMFis in Uganda ............................................................... 8 2.3 The Regulatory Body of MFis .................................................................... 9 2-4 Credit Policy and its elements ................................................................. 10 2.5 Objectives of the MFis .............................................................................. 11 2.6 How credit management is related to performance ............................... 12 2.7 Problems Faced by MFis in Uganda ....................................................... 14 2.8 Breaking Barriers to Growth and Innovation ......................................... 14 METHODOLOGY ................................................................................................... 15 3.0 Introduction ............................................................................................ 15 3.1 Research Design ...................................................................................... 15 3.2 Scope of the Study ................................................................................... 16 3.3 Sources of Data ........................................................................................ 16 3.4 Data Collection ........................................................................................ 16 3.5 Data Processing ....................................................................................... 16 3.6 Data Presentation .................................................................................... 16 3.7 Data Analysis ........................................................................................... 17 3.8 Limitations of the study........................................................................... 17 3.9 Conclusion ............................................................................................... 17 DATA PRESENTATION ANALYSIS AND INTERPRETATION OF FINDINGS .. 18 4.0 Introduction ............................................................................................. 18 4.1 Table I Categorisation of Respondents ................................................... 18 Vl 4.2 Review of Credit Performance of Pride Uganda ......................................... 20 4.3 The role of MFis on poverty eradication in Uganda (Pride Uganda) ..... 21 4.4 Review of credit terms on loans offered by Pride Uganda ..................... 22 4.5 The extent to which Pride Uganda has promoted growth among women 24 4.6 Challenges faced by Pride Uganda in their effort to eradicate poverty .. 25 4.7 Possible solutions to the challenges faced by Pride Uganda................... 26 5.0 Introduction ............................................................................................. 29 5.1 Summary.................................................................................................. 29 5.2 Conclusion .............................................................................................. 30 5.3 Recommendations .................................................................................. 30 APPENDICES Introductory letter ............................................................................................. (I) Questionnaire ................................................................................................... (II) Map of Uganda ............................................................................................... (III) Vll LIST OF ABBREVIATIONS MFis Micro-Finance Institutions KIU Kampala International University MFRC Micro Finance
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