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An Empirical Analysis of Microfinance Accessibility and its Effect on the Growth of Women Entrepreneurs in Lusaka, Zambia

Author

Listed:
  • Kimani, Catherine Njeri

    (University of Zambia)

  • Nair, Sulo

    (University of Zambia)

Abstract

This study examined the effect of microfinance accessibility on the growth of women-owned enterprises in the Lusaka District, Zambia. The objectives of the study were to determine the role of financial literacy in influencing the effective utilization of microfinance services among women entrepreneurs in Lusaka District, to examine the impact of microfinance inaccessibility on the business performance of women entrepreneurs in Lusaka District, and to devise strategies for enhancing microfinance accessibility for entrepreneurial growth among women entrepreneurs in Lusaka District. Quantitative data was collected using structured questionnaires, while qualitative data were gathered through semi-structured interviews. Of the 384 questionnaires distributed, 319 were successfully returned, representing an 83.1% response rate. Quantitative results demonstrate that microfinance inaccessibility significantly predicts business performance decline (r = 0.612, p

Suggested Citation

  • Kimani, Catherine Njeri & Nair, Sulo, 2026. "An Empirical Analysis of Microfinance Accessibility and its Effect on the Growth of Women Entrepreneurs in Lusaka, Zambia," African Journal of Commercial Studies, African Journal of Commercial Studies, vol. 7(3).
    • Handle: RePEc:cwk:ajocsl:2026-006
    DOI: 10.59413/ajocs/v7.i3.35
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    References listed on IDEAS

    as
    1. Megbaru Tesfaw Molla & Ratinder Kaur, 2025. "Association of risk management practices and financial performance of microfinance institutions in Ethiopia: A two-step system generalized method of moments approach," PLOS ONE, Public Library of Science, vol. 20(7), pages 1-18, July.
    2. Amaka Gertrude Metu & Uche C. C. Nwogwugwu, 2024. "Challenging Factors Affecting Access to Finance by Female Micro Entrepreneurs in Anambra State, Nigeria," Journal of African Business, Taylor & Francis Journals, vol. 25(1), pages 142-154, January.
    3. Mukendi, Suzan & Manda, Simon, 2022. "Micro-financial institutions and processes of women empowerment in Zambia," World Development Perspectives, Elsevier, vol. 28(C).
    4. Imene Berguiga & Philippe Adair, 2022. "Are There Barriers to Funding Female Entrepreneurs in MENA Countries?," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 72(3), pages 200-221, September.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

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    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa

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