Proceedings of the 2nd (Hybrid) International Conference, Faculty of Social Sciences, Niger Delta University, Held on March 13, 2024
March, 2024
Pages 270-287
DOI: 10.36108/wjss/ConfP.2024.016
KNOWLEDGE, SATISFACTION AND CHALLENGES OF TRADERMONI SCHEME AMONG MARKET WOMEN IN BAYELSA STATE: A QUALITATIVE STUDY
Funpere G. Akah, Elliot A. Sibiri and Undutimi J. Dudafa
Abstract
This qualitative study investigates the knowledge, satisfaction, and challenges surrounding the TraderMoni scheme among market women in Bayelsa State, Nigeria, within the framework of empowerment theory. Adopting an ex post facto study design, the research engaged 9 market women for in-depth interviews (IDIs) and conducted 4 key informant interviews (KIIs) with representatives from the Bank of Industry (BoI). Sampling employed a multi-stage approach integrating both probability and non-probability techniques. Data collection utilized In-depth Interviews (IDIs) and Key Informant Interviews (KIIs), with qualitative data subjected to content analysis using Atlas ti Version 9.1, aligning codes with study objectives. Findings reveal that participants fully understand the TraderMoni scheme, indicating a high level of knowledge among market women in Bayelsa State. Moreover, nearly all beneficiaries reported positive impacts on their businesses and income levels, attributing this improvement directly to the TraderMoni Scheme. However, challenges emerged from both implementers and beneficiaries, indicating operational and logistical hurdles. Challenges identified include difficulties in tracking disbursements, issues with loan repayment, lack of Bank Verification Numbers (BVNs), and absence of bank accounts among beneficiaries. These findings underscore the importance of financial inclusion initiatives like the TraderMoni scheme in empowering marginalized communities, particularly women in market settings. While the scheme has demonstrated positive outcomes, addressing operational challenges is crucial for its sustained effectiveness. Policy interventions and further research are warranted to overcome these obstacles and maximize the scheme’s impact on economic empowerment in Bayelsa State and beyond.
Keywords: TraderMoni, Poverty reduction, Market women, Social Protection, Poverty alleviation, Women empowerment