A Socioeconomic Analysis in Sierra Leone - Research Proposal Example

?Micro Finance and women empowerment: A Socioeconomic Analysis in Sierra Leone Chapter Introduction 1 Historical background of Sierra Leone Sierra Leone is a country located in the West African continent, bordered on the north and northeast by Guinea, on the southeast by Liberia, and on the west and southwest by the North Atlantic Ocean. Its official name is the Republic of Sierra Leone. Once a colony of the United Kingdom, it gained its independence on October 1, 1961. It has a population of 5.7 million, according to the 2009 United Nations figure, and grows at an annual rate of 2.2%. Its people are comprised of some 20 African ethnic groups, and a few Europeans, Lebanese, Pakistani and Indians (US Department of State, 2011). Sierra Leone is a country where there has been large scale disempowerment of women, fostered in part by the country’s religion and culture, and the social pressures that compel women to be dependent on men. This is partly because Sierra Leone’s distant history is replete with war and poverty. During its colonization by the UK, its people had mounted repeated though unsuccessful revolts. Its recent history (i.e., since the twentieth century) has been peaceful, although marred by the gender gap and the disempowerment of women. 1.2 Microfinance programs in Sierra Leone The aggregate microfinance program in Sierra Leone has currently a loan portfolio worth US$3.4 million, with some 45,717 active borrowers and 23,243 depositors accounting for US$963,373.90 (MIX, 2011). Microfinance has been intended as the flagship project through which the government and non-governmental organizations (NGOs) may effect grassroots level economic development while at the same time providing women the impetus to explore a wider range of possibilities and thereby contribute to the advancement of their families and communities. There is great difficulty, however, in the sourcing of loans for women to establish their businesses with. Traditionally, women are able to get loans only from their male relatives, and oftentimes with substantial collateral. While loans are available from the bank, this channel would only grant loans to women who have a man’s backing. When the loan is being taken out without a male endorser, it has been the case that women are commonly pressured into having sex by bank staff (Guardian, 2011). The sorry state of women under the traditional norms in Sierra Leone has prompted development planners to embark upon sustained and organized microfinance aimed specifically at women. Recently, the U.S. State Department had sent a mission, comprised of women technology experts, to Sierra Leone in order to gather the facts and recommend a solution as to how technology can improve women’s ability and subsequently empower them. “We know effective development comes when women are targeted” (Guardian, 2011), because of women’s generally close affinity to the household. As it stands, there are still no businesswomen’s group or any organization of the sort which could accelerate the process of enabling women to be economically productive 1.3 Statement of the research goal Briefly stated, the goal of this research is to determine whether or not the microfinance programs undertaken among the women in Sierra Leone have succeeded in empowering Sierra Leonean women in a significant way. 1.4 Research objectives In order to arrive at relevant conclusions in response to the research goal, the research shall seek to find answers to the following objectives: 1.4.1 To describe the state of operations undertaken by microfinance programs implemented in Sierra Leone 1.4.2 To determine the impact of microfinance programs on the economic development of the country 1.4.3 To determine the perception of women microfinance borrowers of their level of empowerment as a result of their availment of microfinance programs 1.4.4 To compare the data on the microfinance programs and the perception of respondent women borrowers of their level of empowerment, in an effort to correlate the two 1.4.5 To recommend possible courses of action towards enhancing the effectiveness of microfinance on women’s empowerment 1.5 Research questions The foregoing objectives support the overall research goal and give an indication of the directions the dissertation shall take in the realization of this goal, although these objectives need further specification. To focus the research effort on precise discussion points, the following questions shall be resolved: 1.5.1 What is the extent of the microfinance programs undertaken by MFIs in Sierra Leone, in terms of: 1.5.1.1 The 12 MFIs, identified and briefly described 1.5.1.2 Number of total borrowers and of women borrowers 1.5.1.3 Average loan amount 1.5.1.4 Average cost per borrower 1.5.1.5 Financial condition and performance per MFI and aggregate (e.g. assets, ROE, etc.) 1.5.2 Is there a verifiable aggregate effect of the microfinance programs on the improvement of the gross national income? 1.5.3 How empowered do women microfinance borrowers perceive themselves, in terms of: 1.5.3.1 Control over earnings, savings and the use of the loan 1.5.3.2 Decision-making power on the use of the income and the savings resulting from the project finance by the micro-loan 1.5.3.3 Regularity of income, security of earnings, and reduction on dependence on moneylenders 1.5.3.4 Access to legal aid and reduction to vulnerability in case of emergency 1.5.3.5 Balance in domestic workload and workload at the place of work 1.5.4 Is there a correspondence or correlation between women’s sense of empowerment and the level of performance of the overall microfinance program in Sierra Leone 1.5.5 What policies or actions may be taken in order to improve the effectiveness of microfinance as a tool for women’s empowerment in Sierra Leone? 1.6 Significance of the study This dissertation is important and highly relevant because there is a dearth of studies dealing on microcredit finance in Sierra Leone. Studies abound mostly for the Asian countries, particularly Bangladesh, however there are only a few studies on Sierra Leone’s microfinance, and because the country’s size and population is relatively small, it is a good subject through which the dynamics of small scale enterprise financing can provide economic and social empowerment for women. 1.7 Scope and limitation The study in intended as a longitudinal study where past data may be acquired from official websites. The data shall encompass the years 2003 to 2010 which are the information contained in the Microfinance Information Exchange database. On the other hand, the perception study shall be cross-sectional, since the administration of the survey shall be done at one time, but disseminated to a representative sample of the population. For the purpose of the correlational study between microfinance and empowerment, the most recent microfinance data shall be used, making this segment of the analysis cross-sectional. Chapter 2 - Review of related literature 2.1 Women empowerment Empowerment has been defined as “a process whereby women are able to organize themselves to increase their own self-reliance, to assert their independent right to make choices, and to control resources which will assist in challenging and eliminating their own subordination (Rowlands, 1997). On the other hand, the official definition of the World Bank states that empowerment is “ the expansion of assets and capabilities of poor and powerless people to participate in, negotiate with, influence, control, and hold accountable institutions that affect their lives” (World Bank, 2001). Another definition is forwarded by Vetrivel & Chandrakumaramangalam (2010, p. 24), which stated that “Empowerment can be viewed as a means of creating a social environment in which one can take decisions and make choices either individually or collectively for social transformation. It strengthens innate ability by way of acquiring knowledge, power and experience.” Kabeer (2005) assumed the following premises as essential to the understanding of women empowerment – (1) In order for empowerment to take place, there must first be disempowerment, for instance, when the range of choices the disempowered group is first oppressively limited, and subsequently this range of choices is expanded considerably. (2) The disempowered individuals should have genuine alternatives, and that such alternatives are known and visible to the disempowered group (since disempowerment usually operates under concealment or invisibility to the group). (3) The decisions which are satisfied by the expanded choices are “strategic life choices,” that is, they are “existential decisions on which all other choices depend” (Aslanbeigui, et al., 2010, p. 189), such as one’s residence, choice of spouse, and whether or not to have offspring, among other choices. (4) The strategic life choices are capable of empowerment only where such exercise of choices do not interfere with the life choices of others; that is, that the choice is not conditioned upon another’s enjoyment of the same choice. (5) Lastly, the strategic life choices should be transformative, that is, they are capable of altering the power balance or the nature of power relations among actors by changing the institutional parameters or limits under which the disempowered (in this case, women) are constrained to act. “The social space within which she makes her choices is reconfigured to her advantage.” (Kabeer, 2005, 14-15). Swain and Wallentin (2009) support Kabeer’s view in asserting that empowerment takes place only when the women formerly disempowered are able to pose a serious challenge to existing norms and values in their culture, in order to create significant improvement in their living conditions and well-being. The perception of women as unempowered has been partially drawn from gender based social practices within the specific context of culture. Duran (2010) described the related concept of womanism, in the context in which it is associated with Black American women writers, as the motive force that behind a great deal of the activity of West African cultures (p. 171). The common link is the emphasis on women’s physical strength, albeit being social constrained, both for West Africa and for the Black culture in the nineteenth century New World. The “strong” Black American woman had much to do with slavery, because they were required by their master to be as “masculine” as their men in performing their work (Davis, 1983 in Duran, 2010, p. 172). By contrast, womanism in the context of South Asian cultures like Bangladesh, and traditionalist Muslim cultures in general, are centered about the women’s relative weakness and lack of power in society (Duran, 2010, p. 174). Although the two perspectives differ in their view of women’s capacity for manual labor, they nevertheless coincide on their perception of woman as man’s social inferior, and therefore incapable of her own will so as to be subordinate to his. It is in this context that women are disempowered. 2.2 Microfinance (microcredit) in other countries Microfinance is the evolution of “an economic development approach intended to benefit low-income women and men”; it is defined as “the provision of financial services to low-income clients, including the self-employed” (Ledgerwood, 1999:1). The “evolution” of microfinance pertains to the gradual progression from its fundamental objective or financial intermediation, to the broader social intermediation services including the formation of sustainable groups, the enhancement of the self-confidence of disempowered groups, and the impartment of training to its members / borrowers in terms of financial literacy and management competence. Microfinance has thus progressed from being merely a banking tool, to being a development tool (Ledgerwood, 1999:1). As a consequence, microfinance activities have come to encompass the following (adapted from Ledgerwood, 1999:1): (1) Extension of small loans usually intended for working capital (2) Informal appraisal of borrowers and investments (3) Creation of collateral substitutes, e.g. group guarantees, compulsory savings (4) Provision of access to repeat and larger loans conditioned upon a track record of satisfactory loan repayment (5) Streamlining of loan disbursement and monitoring (6) Creation of secure savings products By way of support, most microfinance institutions (MFIs) also offer services that enhance enterprise development (e.g. skills training, marketing, literacy training, health care) which are not normally included in the scope of microfinance (Ledgerwood, 1999:1) Ledgerwood’s Handbook shows that the World Bank’s accepted definition of microfinance is directed at both men and women, the only qualification being that they are within the low-income social bracket. More recently, however, microfinance and/or microcredit have been largely directed at women, with the added objective of women empowerment. Majority of programs extending microcredit to women pursue the “explicit goal” of empowering them (Swain & Wallentin, 2009:541) economically at first, and subsequently politically and socially. There are several reasons for the choice of women as targets for developmental assistance through microfinance. Vetrivel & Chandrakumaramangalam (2010) have found that an important consideration is that the trickle down theory of economic planning did not create the beneficial effect it had promised for women who were supposed to equally benefit alongside the men. Duran (2010) states that “Black women were often propelled by a sense that Black progress rested on them, and that they could not waste effort in trying to obtain moves forward for themselves alone” (p. 176). In short, Black women viewed the attainment of progress as extending beyond themselves, to their immediate families, their community, and in its broadest extension their race. Okin (2002) claimed that the stress on microfinance as a palliative measure had not been around long, and it contravenes some of society’s most traditional norms. The perspective taken in advancing microfinance, otherwise known as microcredit, is that “women’s work is crucial to the functioning of any economy,” thereby addressing poverty through the efforts of women. There is a great deal of debate on the efficacy of microcredit in empowering women (Basargekar, 2008; Swain & Wallentin, 2009; Aslanbeiguim Oakes & Uddin, 2010). There are a number of aspects to consider in assessing microcredit’s impact in the lives of the borrowers’ families, such as the cultural foundation (Duran, 2010), the generational and inter-generational differences (Aslanbeigui, et al., 2010), and other issues. Maclean (2010) envisions microfinance as going hand-in-hand with social capital, both being indispensables in mainstream development interventions. Social capital is mobilized through group guarantee, with the ultimate goal of supporting sustainable financial institutions and continuous income generation. In their study, microfinance is envisioned to lead to women’s empowerment through two pathways, that is, through “direct” and “indirect” empowerment, according to Swain & Wallentin (2009). Direct empowerment results when women are organized as members of a groups, subsequently undergoing workshops and training, and resulting in a higher level of awareness and knowledge. Indirect empowerment, on the other hand, is manifested in the household of women who have taken advantages of interventions leading to empowerment. There is a rebalancing in the allocation of intra-household resources, with the relative value of the time and income of women gradually increasing. When the weight of women in the family is regarded with greater importance, then they get to be accorded higher deference and also to participate more meaningfully in the decision-making functions in the family. 2.3 Theoretical frameworks in earlier studies Swain and Wallentin (2009) regarded women’s empowerment as a latent variable because it is intangible. In their longitudinal study where the sample consisted of 961 women, those households of women who had availed of the microfinance program were compared to the households of women who had not availed of microfinance. The microfinance availers and the control group were compared according to the following factors: age of respondent; family size; total value of land owned before and then after microfinance was availed of; total value of the assets owned by the household also before and then after the availment of microfinance, the percentage of respondents that are earning (also distinguished as to whether they were the principal earners in the family), literate, and engaged in agricultural activity. Comparison also was made in their increase in income within the period, both their own and the cumulative income of the household. The relationship was observed between the latent variable women’s empowerment at one end, and the aforementioned indicators at the other end. Basargekar (2008) likewise conducting a study on the economic empowerment through microfinance. The study gathered data through an empirical survey conducted on 217 women to whom microfinance had been extended. The verbal survey was done on a person-to-person basis, with trained field workers filling in the answers to pilot-tested questionnaires. Evidence of sustainable development was sought on the basis of three elements: (1) the empowerment of weaker or marginalised section in the economy; (2) conservation and preservation of non-renewable resources; and (3) enhancing the ability of future generations to meet their needs. Empowerment is typically assessed in four dimensions: economic, social, self, and political. The author, however, chose to concentrate only on economic empowerment, because this aspect is more readily evident and measurable than the others, and this is the immediate goal of empowerment programs in poor and developing countries. The profile of respondents whose answers were considered by this study included age, education categories, family members, earning members, and monthly family income. The economic parameters that were made the basis for describing economic differences (i.e. before and then after joining the microfinance group) were designated as: (1) the average difference in monthly earnings; (2) the average difference in monthly savings; (3) the average value of economic assets purchased; (4) the average value of working capital; and (5) the average value of household assets. The respondents were categorized into three groups: respondents who had been microfinance members up to one year of association; those who had been members from one to three years of association; and those who have been members for more than three years. For these empirical comparisons, analysis of variance (ANOVA) had been employed to arrive at a finding of whether or not the groups differed significantly from each other (Basargekar, 2008). Aside from the empirical data, the respondents were polled as to how they perceived the level of economic empowerment they had attained. The respondents were grouped according to the same criteria as previously described. The respondents were polled according to how they perceived their: control over earnings; control over savings; control over use of loan; decision about use of income; decision about use of savings; access to legal aid; regularity of income; security of earnings; reduction in vulnerability in case of emergency; workload at work place; domestic workload; reduction in dependence on moneylenders; and total economic empowerment. Perceptions were rated according to a five point Likert scale, and ANOVA was used to infer (Basargekar, 2008). This study found that availers of microfinance programs expressed the following expectations which their programs are expected to address: (1) encouraging small enterprises; (2) health and sanitation programs; (3) de-addiction programs; (4) training and education; and (5) gender issues. 2.4 Conceptual framework for this dissertation The diagram in Figure 1 shows the interrelationships to be explored in this dissertation. The broad arrow is the principal relationship to be established by this study, the degree to which microfinance contributes to women’s empowerment. Another relationship is that between microfinance and the national economy which is taken to eventually redound to the advancement of low income groups. Sierra Leone’s overall social well-being is implied to improve due to economic advancement and women’s empowerment, although the determination of this relationship is not within the scope of the present study. Figure 1: Conceptual Framework Chapter 3 - Methodology 3.1 Research philosophy The study shall pursue both the positive and phenomenological approaches in research. Positivism as a research philosophy stresses the determination of facts and measurable data as they are objectively identified and described. On the other hand, the worldview of phenomenology refers to how the researcher experiences the phenomenon, “an account of spice, time and the world as we ‘live’ them. It tries to give a direct description of our experience as it is, without taking account of its psychological origin and the causal explanations which the scientist, the historian, or the sociologist may be able to provide” (Merleau-Ponty, 1962 as cited in Heft, 2001, p. 117). In this dissertation, empirical or logical positivism shall govern the sourcing and analysis of data from the Microfinancial Information Exchange (MIX). This data consist of accounts and statistics as they had been measured, collated and reported by the Exchange. The data is objectively quantifiable, tangible, and therefore is appropriate for the positivist approach. On the other hand, in the course of determining empowerment, the group of borrowers of microfinance are polled in order to determine and represent in approximate quantitative form the subjective perceptions of the respondents. This is necessary because empowerment, being a latent variable, can only be described in terms of the feelings and sentiments of those who were the object or target of the empowerment. Since the data, though quantified, is experiential rather than objective in nature, the approach is phenomenological, and this qualification shall be kept in mind during the analysis of data. 3.2 Research strategy and design The study shall be comprised of quantitative methodologies to acquire two groups of data. One group of data shall consist of empirical statistics on the financial and operational performance of the 12 microfinancial institutions through which the microfinance programs for women are undertaken in Sierra Leone. These data shall be assessed in light of the economic development of the country, to verify if a significant impact is created by microfinance on Sierra Leone’s economy. The other group of data shall seek to measure economic empowerment among the women microfinance borrowers. Unlike the empirical data gleaned from the MIX database (see discussion in section 3.4 below), which pertain to quantifiable and tangible factors, empowerment is intangible and therefore is regarded as a latent variable (Swain and Wallentin, 2009). While empowerment may be intangible, it is however discernible to the extent that it may be perceived by those persons who are themselves experiencing the empowerment. For this reason, a perceptual study shall be conducted similar to that employed by Basargekar (2008). By assigning a numerical equivalent to the subjective perception of the respondent microfinance borrowers, a consensus shall be sought in terms of a mean rating among the groups of respondents. The degree to which the ratings of the three groups of respondents shall be statistically similar shall provide consensus on the perceived degree of empowerment of the respondents. Finally, the statistical significance between the data on the performance of the microfinance programs and the perception of empowerment by the women respondents is verified, so as to determine if there is statistical confirmation that microfinance programs effectively contribute to women empowerment in Sierra Leone. 3.3 Description of variables The empirical data that shall comprise the independent variables shall include a subset of the data available on the Microfinance Information Exchange database (i.e. described in the next subsection) which may include any of the following, namely: (a) average deposit balance per person (b) average loan balance per borrower (c) capital to asset ratio (d) debt to equity ratio (e) total deposits (f) gross loan portfolio (g) number of active borrowers (h) total women borrowers (i) total assets (j) total borrowing (k) total equity (l) the write-off ratio, and (m) the yield on gross portfolio. The independent variable shall be the gross national income, or GNI, which shall be obtained from the World Bank and IMF databases. The available data from as far back as 2003 until the most recently available data at 2010 shall be utilized to set up the equations that will determine the most likely factors that would significantly determine the GNI. For the perception data on women’s empowerment, the following criteria, suggested by Basargekar (2008) are to comprise the survey items, namely: (a) control over earnings (b) control over savings (c) control over use of loan (d) decision about use of income (e) decision about use of savings (f) access to legal aid (g) regularity of income (h) security of earnings (i) reduction in vulnerability in case of emergency (j) workload at work place (k) domestic workload (l) reduction in dependence on moneylenders, and (m) total economic empowerment. The perceptions of the respondents shall be quantified through the use of a five-point Likert scale in the same fashion as the Basargekar study, inasmuch as this has proven not only sufficient but highly useful for the same survey as it had been conducted in India. 3.4 Data gathering methodology The empirical data shall be obtained from the online database of the Microfinance Information Exchange (MIX), specifically the country data on Sierra Leone. The MIX is described as “the premier source for microfinance data and analysis” (MIX, 2011); it is a non-profit organization based in Washington DC, and having regional offices in India, Morocco, Peru and Azerbaijan. The mission of the Exchange is to “promote microfinance transparency through integrated performance information on microfinance institutions (MFIs), investors, networks, and service providers associated with the industry” (MIX, 2011). The data to be obtained from the Exchange includes information on the activities of at least 12 Microfinance Institutions (MFIs) from 2003 to 2010, in spreadsheet form. The perception study shall be conducted through the use of a written or online survey to be disseminated among women members of the 12 MFIs operating in Sierra Leone. The women shall be designated according to their length of membership or the duration of their availment of loan with the MFI, that is: less than one year, one to three years, and more than three years. The aforementioned survey items shall be rated according to their perceived effectiveness, from ineffective to highly effective. 3.5 Statistical data analysis Statistical data analysis shall consist of the analysis of variance (ANOVA) for the empirical data sourced from the MIX database, for the determination of significant variances among the perception of the three groups of survey respondents consisting of women microfinance borrowers. In order to determine significant relationships of dependent and independent variables, multivariate regression analysis shall be conducted with the empirical variables from MIX as independent variables and the gross national income, an indicator of national economic growth, as dependent variable. Correlation analysis shall also be conducted between microfinance empirical data and empowerment perception data, in an attempt to discover relationships between the two sets of data and thereby relate microfinance to women empowerment in Sierra Leone. The multivariate regression model that this study undertakes to construct shall be of the form: Y = ?0 + ?1X1 + ?2X2 + ?3X3 + … + ?12X12 + ?13X13 Where X1 to X13 correspond to the independent variables: average deposit balance per person; average loan balance per borrower; capital to asset ratio of MFIs; debt to equity ratio; total deposits; gross loan portfolio; number of active borrowers; total women borrowers; total assets; total borrowing; total equity; the write-off ratio, and; the yield on gross portfolio. These indicators pertain to the level of operation and performance of the MFIs, who are the conduits of the microloans. Y, the dependent variable, represents the gross national income (GNI) of Sierra Leone. The relationship desired to be inferred is whether or not the performance of MFIs impacts significantly upon the economic welfare of the country, in line with the conceptual framework in Figure 1. The regression coefficients ?1 to ?13 shall indicate the degree to which the independent variable affects the dependent variable, and its corresponding p-value shall indicate the explanatory strength of that relationship. 3.6 Expected results Upon the conclusion of this research study, it is expected that the findings shall yield significant information on the level of performance of the microfinance programs conducted by MFIs in Sierra Leone and its impact on the community, the perceived empowerment of women in this country who have availed of microfinance borrowing, and whether microfinance has significantly contributed to the empowerment of Sierra Leonean women. Preliminary Bibliography Abdulai, E. S. (2010) “Sierra Leone.” International Journal of Not-for-Profit Law, Feb., 12(2), 55-64 Afrin, S; Islam, N; & Ahmed, S U. 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