Microcredit Schemes: A Tool for Promoting Rural Savings Capacity among Poor Farm Families: A Case Study in the Eastern Region of Ghana

Savings mobilization is crucial for any viable economic and investment activity. In rural agriculture, the ability to save or to mobilize capital in cash at bank or stock of wealth is a major prerequisite as the collateral for accessing bank loans. The ability to save among rural poor households is however, difficult due to their low income levels and inability to make personal savings commitment. The objective of this study was to assess the role microfinance plays in savings mobilization among farm households, analyse the extent of savings mobilized by participants and evaluate the conditions for membership of such schemes.
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