Faculty: Social Sciences
Department: Economics


Metu, A. G.
Nwogwugwu, U. C. C.
Nwokoye, E. S.


Empirical studies have revealed that micro entrepreneurs lacks cheap and affordable finance due to demand for collateral/guarantors, interest charges, lack of appropriate information and so on. Despite Nigerian governments’ efforts to address this problem, there are still complaints and reports of female micro entrepreneurs’ inadequate access to credit facilities. This means that debate about gender financial discrimination is still inconclusive. Consequently, the main aim of this study was to evaluate the challenges of accessing finance by female micro entrepreneurs in Anambra state, Nigeria. The choice of Anambra State is as a result of its record of accommodating a large number of micro entrepreneurial activities. Four research questions and hypotheses were formulated using the supply leading finance theory and information asymmetry theory. For triangulation of results, data were collected using three research instruments: questionnaire, oral interview and focus group discussion guide. The collected data were analysed from 475 valid questionnaires using descriptive as well as inferential statistics. The results of the study revealed that there is no gender discrimination when accessing finance from microfinance banks rather there are fewer loan applications received from female micro entrepreneurs in Anambra state. The result of the inferential statistics showed that demand for collateral, lending rate and information asymmetry are significant challenges of accessing finance while education and family responsibility are not significant challenges of accessing finance by female micro entrepreneurs in Anambra state. The study therefore recommends that microfinance banks need to reach out to female micro entrepreneurs in order to create financial awareness. Also there is need to educate the female micro entrepreneurs on ways and means of applying for microcredit with success.