Emilie Vrbancic
Emilie Vrbancic
Lake Forest College
Participant in the 2010 ACM Student Symposium on Off-Campus Study
Understanding Ways to Empowerment in Microfinance: A Case Study of Women's Finance House Botswana
Microfinance is a development strategy that was first introduced in Bangladesh during the 1970s in which microloans, microcredit, and microinsurance are given to impoverished people in order to improve their condition in life. Since then, it has grown to become a viable tool in national development programs and is used as a means to alleviate poverty, give access to credit for those deemed "unbankable," create community solidarity, and as a means to foster women's social and economic empowerment.
I was particularly interested in how microfinance could empower women, especially in an African context, since most of the literature on microfinance is focused on South East Asian nations. In partnering with Women's Finance House Botswana, more commonly known as Thusang Basadi (Help the Women), I was able to conduct research in how Mastwana women entrepreneurs experienced economic and social empowerment through the allotment of small microloans.
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At left: Video of Emilie Vrbancic's presentation at the Symposium.
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I focused on three factors of implementation which are believed to effect the way women experience empowerment: approach to microfinance, lending methodology, and supplementary programs. I conducted interviews with women entrepreneurs and the Thusang Basadi staff and employed the participant observation method to gain insight on center meetings (used to collect loans) for two different village groups.
My findings report that the women entrepreneurs of Thusang Basadi experience economic empowerment because of the financial self-sustainability approach to microfinance. The group's lending methodology and supplementary programs provide the first steps towards social empowerment. My experience at Thusang Basadi was very rewarding because I was able to meet the women entrepreneurs and, even though there was a language barrier, I believe that I am able to convey to my audience the general sentiments about how Thusang Basadi has helped the women change their lives for the better.
I am currently doing an independent study project at my home college on how the principles of microfinance programs in developing nations can be translated into development strategies for immigrant populations in industrialized nations. My research conducted in Gaborone, Botswana, has been thoroughly beneficial to my current studies.
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