Social Responsibility Practices in the Marketing of Loans by Microfinance Companies in Ghana, the Views of the Customer

摘要

Microfinance companies provide loans and other facilities like savings, insurance, and transfer services to poor low-income household and microenterprises. It is expected that by the nature of their customers and services, microfinance companies will be strictly socially responsible in dealing with customers to protect and preserve their rights, but this is not always the case. This research observes the views and concerns of customers about the social responsibility practices of microfinance companies in Ghana, especially, the customer’s right to be informed, to be safe, to choose, and to be heard. The sample is drawn from two major cities, the Accra Metropolis and Kumasi Metropolis of Ghana, and the respondents constitute past and present customers of micro-finance companies providing services under the Tier-2 category of microfinance institutions in Ghana. The analysis of the data shows that respondents perceive microfinance companies having transacted with not doing much to ensure that the customer’s rights are protected. Based on the analysis and results of the survey, recommendations are made to managers of microfinance companies and the Ghana Association of Microfinance companies.