Micro-Insurance Services and Growth of Women Entrepreneurs in Onitsha, Anambra State, Nigeria


Authors : ANOKE Amechi Fabian; NZEWI, Hope Ngozi; Agagbo Ogugua Chinyere; ONU Anthonia Nkechi

Volume/Issue : Volume 6 - 2021, Issue 8 - August

Google Scholar : http://bitly.ws/9nMw

Scribd : https://bit.ly/2WCzoMo

Micro-insurance is a social system, which offers financial cover for the effects of a disaster to the low income in the society. The study anchored on market power theory to examine the influence of microinsurance services on the growth of women entrepreneurs in Onitsha, Anambra State, Nigeria. Using all the population of registered women entrepreneurs in Onitsha, Anambra State as of January 2021, which was 657. 248 of this population have at least one insurance policy with either conventional insurance firm or with a micro-insurance industry, which was used purposively as the sample size of the study. Questionnaire was used as the only instrument to collect data in the study while regression was used to analyze the formulated hypotheses. The study found that Microinsurance saving, and lending services have positive and significant effect on women entrepreneurship growth in Onitsha, while micro-insurance management training service has negative and insignificant effect on the growth of women entrepreneurs in Onitsha, Anambra state. The study concludes that micro-insurance services are important determinants of women entrepreneurship growth in Onitsha, Anambra State, Nigeria and recommended among others that micro insurance sector should be properly publicized through mass education and adopted as a subsidiary by all insurance firms in Nigeria as this will help cover the active poor in the society, who are not currently covered by the conventional insurance firms in Nigeria; this will enhance insurance penetration and entrepreneurship growth in Nigeria.

Keywords : Growth, Micro-insurance, Onitsha, Services and Women-entrepreneurs.

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