To assess the impact of Microfinance Institutions in empowering women entrepreneurs in Harare Metropolitan province: The case of Zimbabwe Women’s Microfinance Bank (ZWMB)

Abstract

The study assesses the impact of Microfinance Institutions (MFIs) in empowering women who are in business in Harare Metropolitan province. The study uses the Zimbabwe Women’s Microfinance Bank (ZWMB) as a case study, with 100 respondents drawn from Glen View furniture complex and Magaba/Siyaso complex. Women businesses have been marginalised due to socio-political and cultural configuration of societies with women issues pushed to the periphery. Women’s businesses were not regarded as any other, they were not given loans on their own but a male counterpart had to stand in as a guarantor. However, the study’s objective was to assess the impact of MFIs in empowering women entrepreneurs in Zimbabwe with special attention to those at Magaba/Siyaso and Glen View furniture complexes, generally male dominated industrial sites. In order to achieve the stated main objective, the study applied a quantitative approach and scientifically analysed and interpreted data obtained through questionnaires using SPSS statistical tool. The study concludes that, although much still has to be done, over 30% of women entrepreneurs benefit from the establishment of the ZWMB from various loans ranging from microcredit, micro savings, micro insurance and microfinance training packages.