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All Journal Journal of Sustainable Tourism and Entrepreneurship International Journal of Management, Entrepreneurship, Social Science and Humanities (IJMESH)
Mveku, Blessed
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Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Environmental Science Law, Crime, Criminology & Criminal Justice Social Sciences

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The Significance of Microfinance Establishments on The Growth of Small to Medium Enterprises in Zimbabwe Mveku, Blessed; Mutero, Tanaka. T. T.; Nyamwanza, T; Chagwesha, Munyaradzi; Bhibhi, Peter
International Journal of Management, Entrepreneurship, Social Science and Humanities Vol. 7 No. 1 (2023): July - December Issue
Publisher : Research Synergy Foundation

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31098/ijmesh.v7i1.1519

Abstract

The study was conducted in the Midlands province of Zimbabwe, focusing on four towns: Kadoma, Kwekwe, Gweru, and Zvishavane. The study examines the establishment of microfinance institutions, which results in the growth of small to medium enterprises. Many SMEs in the Midlands province are finding it difficult to grow their business due to a lack of capital and the ability to access bank loans. The study aimed to determine the significance of microfinance establishments on the growth of small- to medium-sized enterprises in Zimbabwe. A descriptive research design was adopted. The study's sample size was 94 SME owners specialising in agriculture, mining, vending, groceries, beauty salons, auto repairs, transport services, and fast foods in the Midlands province. Data was analysed using Pearson correlation and simple linear regression. The study results showed a strong positive relationship between microfinance loans and Small to Medium Enterprise sales growth, as evidenced by a correlation coefficient 0.989. The results showed that microfinance loans positively affect the profitability of SMEs. The study also found that access to finance, competition, hyperinflation, and high taxes are the challenges affecting SMEs' firm size. The study shows several ways which can be done to improve the growth of SMEs, such as the extension of loan repayment tenure, review of lending policies, and lending SMEs higher packages for accomplishing their projects. The government should implement policies that find ways to reduce inflation, lower tax charges on SMEs, and draft policies that promote the development of SMEs in the country.
The effectiveness of growth strategies used by Zimbabwean microfinance institutions to improve company performance Mveku, Blessed; Mutero, Tanaka T. T.; Masinire, Sharon
Journal of Sustainable Tourism and Entrepreneurship Vol. 6 No. 1 (2024): September
Publisher : Goodwood Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/joste.v6i1.2238

Abstract

Purpose: Growth strategies are essential for the survival of MFIs worldwide; however, this phenomenon has not been extensively researched, particularly in developed countries. Accordingly, this study aims to ascertain the effectiveness of the growth strategies used by Zimbabwean microfinance institutions to improve company performance. Research Methodology:  The study adopted a quantitative research approach using an explanatory research design. The target population was drawn from personnel at 10 registered microfinance institutions in Bulawayo, Zimbabwe, from accounting, finance, marketing, operations, and business development. The targeted population total was 250, and the sample size was 152, using Krejcie and Morgan's sample size determination model. The study employed a stratified sampling technique, and the data were analyzed using Spearman’s correlation coefficient. Results: Results showed that Digital innovation significantly affects the operational efficiency of MFIs. Funding diversification positively influences profitability. The results further show that an increased branch network positively affects the market share. Limitations: The current study's investigation of ten registered microfinance institutions within Bulawayo, Zimbabwe, restricts the generalizability of the findings to other contexts. Contributions: The findings of this study can influence policies and practices in Zimbabwe and other developing countries. The research will contribute massively to microfinance institutions, where they will be able to handle transactions, retain records, manage client databases, and enhance loan disbursement and repayment procedures.
The effectiveness of growth strategies used by Zimbabwean microfinance institutions to improve company performance Mveku, Blessed; Mutero, Tanaka T. T.; Masinire, Sharon
Journal of Sustainable Tourism and Entrepreneurship Vol. 6 No. 1 (2024): September
Publisher : Goodwood Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/joste.v6i1.2238

Abstract

Purpose: Growth strategies are essential for the survival of MFIs worldwide; however, this phenomenon has not been extensively researched, particularly in developed countries. Accordingly, this study aims to ascertain the effectiveness of the growth strategies used by Zimbabwean microfinance institutions to improve company performance. Research Methodology:  The study adopted a quantitative research approach using an explanatory research design. The target population was drawn from personnel at 10 registered microfinance institutions in Bulawayo, Zimbabwe, from accounting, finance, marketing, operations, and business development. The targeted population total was 250, and the sample size was 152, using Krejcie and Morgan's sample size determination model. The study employed a stratified sampling technique, and the data were analyzed using Spearman’s correlation coefficient. Results: Results showed that Digital innovation significantly affects the operational efficiency of MFIs. Funding diversification positively influences profitability. The results further show that an increased branch network positively affects the market share. Limitations: The current study's investigation of ten registered microfinance institutions within Bulawayo, Zimbabwe, restricts the generalizability of the findings to other contexts. Contributions: The findings of this study can influence policies and practices in Zimbabwe and other developing countries. The research will contribute massively to microfinance institutions, where they will be able to handle transactions, retain records, manage client databases, and enhance loan disbursement and repayment procedures.
Co-Authors Bhibhi, Peter Chagwesha, Munyaradzi Masinire, Sharon Mutero, Tanaka T. T. Mutero, Tanaka. T. T. Nyamwanza, T