The Impact of Microfinance on Entrepreneurship Development in Mogadishu, Somalia

The purpose of this study was to investigate the impact of microfinance on entrepreneurship development in Mogadishu. A cross-sectional survey design was employed to gather primary data from selected 120 respondents. The data were analyzed using both descriptive statistics and inferential statistical techniques. This study concluded that microfinance programs are effective instruments for the advancement of entrepreneurship due to the diverse services they provide and the roles they serve in the growth and development of small businesses. This study suggested that microfinance institutions should facilitate the lending requirements of small businesses and also provide training and technical assistance to small businesses to improve the efficiency and effectiveness of small businesses.