Promoting women entreprenurship through financial inclusion: A case of Guruve District, Zimbabwe

Abstract

A number of studies have found that women are more excluded than men both at firm and individual levels especially those in rural areas. Women in business continue to face challenges in accessing financial support from financial institutions for start- ups and growth of their business. The objectives of the study were to scrutinize factors hindering access to financial services by women entrepreneurs, determine the effectiveness of awareness programs employed by the financial institutions in promoting financial inclusion, identify and evaluate the financial inclusion strategies for women entrepreneurs. The study adopted a mixed research approach and a survey research design was used. Both purposive and convenient sampling methods were used to select the respondents of both questionnaires and interviews. Data was collected from 79 respondents (women entrepreneurs) through the use of self- administered questionnaires and interviews from the 6 key informants. Data was then analysed through the use of SPSS and conclusions were drawn from the findings. The results revealed that the main factors leading to women financial exclusion are lack of collateral security and lack of adequate awareness programs from financial institutions. It was also noted that financial inclusion strategies are needed for the development of women entrepreneurship and should accommodate women’s needs. The study recommended the government to continue to engage women in their National Financial Inclusion strategy, promote financial education and literacy. The researcher also noted that for government policies and strategies that promote women financial inclusion to effectively work, there is need for limpidity in the implementation process.