Poverty reduction and the poor have attracted unprecedented discussions at international summits during the last two decades. Generally, microfinance has proven to be one effective and powerful tool for poverty reduction. However, Microfinance institutions (MFIs) show significant diversities in their ability to reach the poor. In effect, microfinance cannot be an effective poverty reduction approach for every category of poor and/or microfinance institution. The evidence that exists on the place of MFIs in poverty reduction is thus subject to debate about context and methodology. This study adopted a cross-sectional case study design and a mix of qualitative and quantitative tools to examine the role of the Wa Co-operative Credit Union (WACCU) in poverty reduction in the Wa Municipality of the Upper West Region of Ghana. The study identified that although the Credit Union had to some extent empowered its members economically, this was not beyond the ordinary as non-members had very similar socio-economic characteristics. Thus, the study concludes that the outreach and impact of the Credit Union in poverty reduction remained more conventional and less innovative and client-oriented. The study therefore recommends the need for policy regulation to open up Credit Unions as MFIs in ways that allow them provide services that are efficient in poverty reduction and reflect the peculiarities of their target markets.
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