Author(s) :

Maud Guessennd.

Volume/Issue :

Abstract :

Microfinance has long been promoted as a tool for advancing financial inclusion and women’s economic empowerment, particularly in low-income regions. However, its actual transformative potential remains contested due to persistent structural and cultural barriers. This comparative study examines microfinance programs in West Africa and Latin America, focusing on how they support women entrepreneurs. Through a case study analysis of Groupe Cofina in Côte d’Ivoire and BancoSol in Bolivia, the research evaluates the institutions’ outreach models, financial products, and non-financial support services. Findings reveal that while both institutions have expanded access to credit for women, the impact on long-term economic empowerment is uneven. In West Africa, Cofina’s efforts to reach low-income women are challenged by legal constraints and entrenched gender norms. In Latin America, BancoSol has facilitated a transition from informal to formal entrepreneurship but faces issues related to financial literacy gaps and high interest rates. The study highlights the importance of digital integration, financial education, and peer mentorship as complementary tools to enhance microfinance outcomes. Ultimately, the research underscores that microfinance alone cannot dismantle systemic gender inequality. It calls for context-sensitive adaptations that incorporate legal support systems, address the digital divide, and deepen non-financial services. The comparative approach offers insights for scaling inclusive microfinance models across regions with similar socio-economic conditions.