The Nigerian microfinance banks often close their offices abruptly, leading to the loss of shareholders' funds. The purpose of this phenomenological study was to explore strategies microfinance bank directors use to maintain business sustainability. The concepts of microfinance banking, sustainability value, and strategic management theory formed the conceptual framework for this study. Twenty managing directors from microfinance banks in the Anambra state of Nigeria participated in semistructured interviews. The data analysis process involved the use of Moussakas' modified van Kaam process, which resulted in the emergence of 3 themes: strategic management, fear of microlending, and maintaining sustainability. The emergent themes indicated the necessity of a strategic management focus on maintenance of sustainability, growth in microfinance banking knowledge, best practice implementations, savings mobilization, technological input, and expansion of microlending services. The implications for positive social change involved the potential for bank directors to apply these findings to improve Nigerian microfinance banking performance and provide regular payments of shareholders' dividends. The increase in shareholders' funds and provision of credit administration to indigent Nigerians may contribute to economic growth within local communities, decrease crime, and increase income generating business activities in Nigeria.
| Identifer | oai:union.ndltd.org:waldenu.edu/oai:scholarworks.waldenu.edu:dissertations-2882 |
| Date | 01 January 2015 |
| Creators | Diete-Spiff, Josephine Aruoriwo |
| Publisher | ScholarWorks |
| Source Sets | Walden University |
| Language | English |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | Walden Dissertations and Doctoral Studies |
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