The Impact of financial inclusion on female-owned small to medium enterprises: the case of Siyaso market in Harare urban, Zimbabwe

Abstract

This study sought to understand the impact of financial inclusion on female-owned small to medium enterprises in Harare urban of Zimbabwe. A mixed methodology was used for the study while a case study of Siyaso Market in Harare was utilized. A total of 60 participants were involved in the study. These participants were selected through purposive sampling. Data were collected using a survey and semi-structured interviews. The study findings indicated that there were a number of factors that lead to profitability for female-owned small to medium enterprises. These included having a bank account and access to mobile banking services. A number of challenges were also being faced by female-owned small to medium enterprises. These were low-income levels and lack of documents required when borrowing from financial institutions. There is a need to improve the financial products and delivery models and strengthen financial consumer protection mechanisms, especially for women.