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Advisor(s)
Abstract(s)
Microcredit provides small loans to the most deprived populations for
whom credit is difficult to obtain from the traditional banking system. These
microcredits have no collateral backing and work on the basis of a small groupbased
borrowing mechanism. The funds are often used for financing productive and
educational purposes related to entrepreneurial activities and self-employment. For
this reason, microcredit is pointed out as a valuable tool in the economic, social and
cultural development of poor countries.
The study analysed the application of the microcredit programs in Cabo Verde
and their implications for poverty reduction, income generation, self-employment
and equality of gender promotion. The results showed that microcredit is an important
financial instrument for poverty alleviation and the improvement of family
income in Cabo Verde. The majority of the projects were based on women initiatives
and oriented to the creation of micro and small businesses that provide selfemployment
and jobs for poor people, allowing families to have access to income
sources that otherwise they would not have. The revenues generated gave individuals
the opportunities to acquire goods and services that improve their quality of life
and wellbeing. This is particularly important in Cabo Verde since the welfare state is
practically non-existent there.
Description
Keywords
Microcredit Economic development Cabo Verde Self-employment Wellbeing
Pedagogical Context
Citation
Bernardino S., Freitas Santos J., Vicente Z. (2018) Microcredit: Role of Entrepreneurial Ventures in Development of Cabo Verde. In: Carvalho L., Rego C., Lucas M., Sánchez-Hernández M., Noronha A. (eds) Entrepreneurship and Structural Change in Dynamic Territories. Studies on Entrepreneurship, Structural Change and Industrial Dynamics (pp. 233-254). Springer, Cham. https://doi.org/10.1007/978-3-319-76400-9_13.
Publisher
Springer