Investigating the extent to which demand and supply side factors affect women’s access to financial services from microfinance institutions: a case of women entrepreneurs in Lusaka Zambia.
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Date
2024
Authors
Muchimba, Elijah
Journal Title
Journal ISSN
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Publisher
The University of Zambia
Abstract
This research focused on assessing the extent to which demand side and supply side factors affect women’s access to financial services from microfinance institutions: a case of women entrepreneurs in Zambia. The study was carried out in Lusaka and the main objectives of the study were to determine the extent to which demand side and supply side factors impede women entrepreneurs’ access to financial service; and to find out measures that can be used to curb the
demand side and supply side factors affecting women entrepreneurs’ access to financial services. Therefore, the study followed a mixed research design to answer the research question on the factors affecting women’s accessibility to financial services from microfinance institutions among women entrepreneurs in Zambia. Data was collected using a questionnaire and interview guide. The research data was qualitatively analyzed using themes and also quantitatively analyzed using the statistical package for social sciences (SPSS) 24. According to the study findings, it was established that demand side and supply side factors impede women entrepreneurs’ access to financial services. This is because the findings revealed that demand side and supply side factors such as lack of collateral, limited personal capacity, high interest rates, failure to understand financial services, limited access to financial institutions, lack of education, few financial institutions supporting women, lack of property, lack of confidence and the type of business management among others affected women accessibility to financial services among micro financial institutions. To counter the above factors, the study revealed that there are measures that can be used to curb the factors that affect women’s accessibility to financial services from microfinance institutions. These include building the business case for equal economic opportunities for men and women; promoting financial support from micro financial institutions; empowering women as a priority focus; educating women on financial institutions and financial services provided and increasing the number of micro financial institutions supporting women among others. Furthermore, recommendations arising from the study among others included the need for financial institutions to become more responsive to the specific needs of women
entrepreneurs and develop products and services that address these needs and the need to not only increase the branch network of the various financial institutions involved in lending money to women entrepreneurs, but also diversify the delivery modes.
Description
Thesis of Master of Business Administration in Finance.