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This study presents a thematic literature review aimed at understanding the systemic barriers that Black African women face when accessing bank loans in South Africa, as well as the critical role that the humanities can play in addressing these issues. In the context of the persistent economic instability facing South Africa, the small business sector has become a vital source of income and resilience for Black women. Despite this, their economic potential remains constrained by limited access to bank loans. Guided by an intersectionality framework, the study discusses the systemic barriers that contribute to the financial hardships and exclusion of Black African women. It further explores how gender-sensitive and humanities-informed approaches can contribute to more inclusive financial services. This includes emphasizing the need for culturally sensitive financial products, bias awareness training, and supportive policy frameworks. The review calls for strategic interventions to improve economic empowerment among Black African women entrepreneurs. Central to these interventions is the role of humanities faculties in facilitating Short Learning Programs and Skills Training Programs that provide business training, helping women manage finances and scale their ventures sustainably through enhanced financial literacy. This increased knowledge can improve their chances of success, even in the absence of formal funding. Conducting Afrocentric research is another avenue to uncover the barriers and address the current financial exclusion that Black women in South Africa experience. Gender equality in financial inclusion must remain one of the fundamental building blocks for steady and positive economic growth in South Africa.

This study examines the effects of Mobile Financial Services (MFS) on the growth and composition of bank deposits in Bangladesh over the period 2015-2024 based on bank-level panel data for 26 commercial banks. Using Fixed Effects (FE), Random Effects (RE), and Generalized Least Squares (GLS) estimation and controlling for COVID-19 dummy, the study finds that MFS transaction volume has a negative and statistically significant effect on deposit growth. This indicates that rising mobile financial activity slows the pace at which banks accumulate deposits. However, MFS positively and significantly affects both current and savings deposit levels, consistent with the financial inclusion channel through which mobile platforms channel funds into the formal banking system. The effect on total deposits and fixed deposits is statistically insignificant, indicating no direct substitution at the aggregate or long-term deposit level. Bank size and loan-to-deposit ratio are the most consistent determinants across all models. Non-performing loans negatively affect depositor confidence. The COVID-19 pandemic dampened deposit growth and total deposit accumulation but exerted limited influence on current and savings deposit levels. These findings suggest that MFS and traditional banking are complementary rather than substitutive, and that well-designed policy interventions can harness MFS-driven financial inclusion to strengthen rather than undermine the deposit base of commercial banks in Bangladesh.

The research investigated the degree to which client appraisal relate to financial sustainability among Microfinance Institutions in Tanzania. Grounded on Resource Based View Theory, the study employed an explanatory research design whereby data was collected from a sample of 291 microfinance institutions from Dodoma, Iringa and Shinyanga regions. Semi-structured questionnaire in form of 5-point Likert scale was used to collect data which were analysed through inferential method. Research findings revealed that credit terms negatively influenced financial sustainability, whereas integration capabilities significantly and positively affected financial sustainability. Research findings further revealed that introduction of dynamic capabilities into the structural model improved the coefficient of determination (R²) value from 0.150 to 0.218, confirming their moderating role. Specifically, integration capability amplified the positive impact of internal control (IIC → SI, β = 0.157, p = 0.006), while sensing and learning did not significantly alter base relationships.  Moreover, the research findings indicated that R² of 0.218 (adjusted R² = 0.175) accounted for approximately 22 percent of the variance in financial sustainability, reflecting the combined influence of loan delinquency strategies and dynamic capabilities.  The study concludes that financial sustainability of MFIs in Tanzania depended not only on internal management practices, but also on external environmental conditions and institutional maturity, thereby necessitating multi-level policy interventions. The study recommends that MFIs in Tanzania adopt context-sensitive credit policies, such as granting of grace periods or seasonal repayment structures, especially for clients in agriculture and informal sectors. Also, strengthening learning systems including provision of staff training, knowledge sharing, and performance reflection could complement integration capabilities to boost long-term sustainability. Finally, MFIs should adopt adaptive management frameworks that combine governance, data analytics, and collaborative networks to manage delinquency dynamics.

Small and medium-sized businesses, or SMMEs, are vital to the global economy because they foster innovation, job creation, and economic expansion. Their success and performance depend largely on external support from other organizations, including financial institutions. The objective of this research was to investigate the extent to which financial assistance affects SMMEs' overall performance. Officials from financial institutions and SMMEs in the Vhembe District Municipality comprised the study population. 16 research participants were chosen for the sample using stratified random sampling. An interview guide was used to gather data from the participants. Data was analysed using Atlas.ti. The results indicate that the effect of the financial support leads to business sustainability, business/ local economic growth, and relationship building. By encouraging SMMEs' sustainability and local economic growth in Vhembe District, where outside investment from financial institutions serves as a crucial enabler for innovation and job creation, this study emphasizes the importance of financial support in bolstering entrepreneurial ecosystems. It highlights the stakeholder links between financial officials and SMMEs, encouraging cooperative solutions that improve regional development plans and business performance.

Financial inclusion has been enhanced by the use of mobile money in the informal sector in many countries since the turn of the millennium, mostly by increasing financial use by the previously unbanked and those working in the informal sector. The study was motivated by the fact that there is an increase in mobile money use in the informal sector, and therefore, it ought to present the major determinants of mobile money use in Harare’s informal sector by traders operating in this sector. There is a need to look at the determinants of mobile money use by informal traders, as the transactions reported in this sector are significant to the economy. Data was collected from five districts within Harare using a questionnaire that was drawn from a simple random sample among 273 informal traders. A logistics regression model was used for the study model estimation. The findings were that gender, cost, awareness and group membership significantly determine mobile money use by informal traders in the sampled districts in Harare. Results obtained confirmed a priori economic expectations concerning variables in the chosen model. The significant variables were recommended to policymakers, new players intending to offer mobile money services and existing mobile money service providers. There is a need to understand the determinants of mobile money use by informal traders in order to produce relevant policies that further enhance financial inclusion.

In Bangladesh, women’s participation in small businesses is rapidly increasing. Although the lack of capital appears to be a significant barrier, banks play an important role in assisting women in obtaining small business loans. This study examines whether foreign banks operating in Bangladesh facilitate access to financing for women entrepreneurs. Using primary data collected from 100 women-owned small businesses in Dhaka, this study employs probit regression models to estimate the likelihood of obtaining small business loans from foreign banks. The results indicate that the accessibility of credit by women entrepreneurs is much less when they apply to foreign banks. The estimated marginal effects convey that the likelihood of securing financing on application to a foreign bank is expected to be lower by about 52 percentage points than domestic banks. The findings also reveal the significance of firm performance, managerial traits, and bank-firm relationships in determining access to credit. Overall, the findings suggest that foreign banks contribute only marginally to small business financing for women entrepreneurs in Bangladesh, implying the need for more targeted policy interventions.

This study aims to assess and rank all thanas in Bangladesh according to their performance in financial inclusion. It employed a composite index for that purpose, using three proxies of financial inclusion: deposit per account, advance per account, and advance deposit ratio. Cross-sectional data obtained from the Scheduled Banks Statistics of Bangladesh Bank are utilized to rank 615 thanas in Bangladesh. It categorizes 615 thanas into three classifications: high, medium, and poor financial inclusion. There are large differences in the availability and utilization of financial services among thanas. Thanas have a low level of integration into the formal financial system, as indicated by the average financial inclusion index of 0.068 and a maximum of 0.628. The rate of financial inclusion is continuously lower in rural, remote, and hilly regions compared to economically active and urban areas. Kotwali in Chattogram, Dhaka, etc., is a higher-ranked thana that demonstrates stronger financial inclusion, with higher per-account values and greater reliance on credit. By comparison, the lower-ranked thanas such as Ramgati, Char Shasivuson, Madan etc. are characterized by a low level of financial integration, poor institutionalization as well as extensive use of informal finance. The paper concludes that the present policy actions have failed to create broad financial inclusion improvements. It proposes multi-dimensional interventions, which are focused to tackle the urban-rural divide. This study will provide the policy makers with useful information to determine the actual situation by determining the highly included and excluded thanas in Bangladesh. Eventually, it will help the interested parties to develop thana or area-based measures to secure financial inclusiveness of all that result to promoting comprehensive and sustainable economic development. The study is also unique because it is likely to be the first initiative that has attempted the study at micro level i.e. thana based analysis of financial inclusion in Bangladesh.

Small enterprises are important catalysts of economic expansion in numerous emerging nations, directly facilitating job creation. Many entrepreneurs encounter many obstacles that impede their sustainability and expansion. This study investigated the availability of finance for nascent entrepreneurs and the challenges they face in securing financial resources to launch their enterprises. The research employed quantitative methodologies and design. The study utilised a purposive sampling method, including a sample size of 54 small to medium firms situated in Fourways, Johannesburg, South Africa. Data were gathered using a survey questionnaire directed at entrepreneurs who sought funding from development finance institutions (DFIs) and banks. Descriptive statistics were employed for data analysis. The findings indicate that entrepreneurs frequently encounter difficulties in securing capital to initiate their ventures, and there exist discrepancies between financiers and entrepreneurs. The main challenges are that entrepreneurs lack the requisite skills and financial literacy to prepare adequate documents for completing fundraising applications. The financiers mandate collateral and equity investments from the entrepreneurs, indicating a need to reassess the funding framework employed by financial institutions. The funder's procedures are protracted, ambiguous, and poorly articulated. The report advises governments and Development Finance Institutions to streamline funding processes, boost transparency, and implement capacity-building programs to improve entrepreneurs' financial literacy.

In any economy, Small, Medium, and Micro Enterprises (SMMEs) are essential for creating employment opportunities, which in turn help to eradicate poverty and high unemployment rates. Access to credit from several banks is essential for SMMEs to be sustainable. Since this finance is the lifeblood of these small businesses, its importance cannot be understated. Therefore, it was crucial for this study to assess the significance of the funding of SMMEs from banks and their impact on the sustainability of these small businesses. The research methodology used in the study was qualitative. SMMEs from different industries, such as agriculture, tourism, etc, and banking officials in the Vhembe District Municipality region made up the population used in this study. Ten research participants were chosen as a sample using stratified random sampling. Data was collected from the participants using an interview guide, and Atlas.ti was used for analysis. The results of this study revealed that the significance of financing SMMEs is grounded on job creation, poverty alleviation, and SMME development in the Vhembe district. The study also revealed that the funding assistance provided by banks provides the basis to develop their operations and enhance business sustainability.

SMEs play a critical role in employment generation and improving economic growth but continue to be excluded from the financial systems. However, the emergence of financial technologies such as mobile money provides a critical tool to address financial exclusion. As such, this study investigates the impact of mobile money on access to finance by small and medium enterprises (SMEs) in Sub-Saharan Africa (SSA). Using a sample of thirteen sub–Saharan African countries, covering the period between 2015 to 2022, the study utilised secondary data and employed panel data regression techniques in estimation. This study demonstrated that mobile money impedes access to financial services at commercial banks by SMEs. To promote financial inclusivity, this study proffers policy advice as it recommends partnering of mobile money providers and traditional financial institutions to develop financial products which are tailor-made to SMEs using mobile money platforms to take advantage of its popularity in the SSA region.

Globally, financial inclusion is regarded as being crucial for balancing an economy's financial system. However, despite the significance of financial inclusion, it still needs to be clarified to what extent it is practiced. In this study, the assessment of the performance of the 49 Sub Saharan Africa (SSA) countries as regards financial inclusion was carried out through the construction of a single composite Financial Inclusion Index (FII) to capture the four dimensions of financial inclusion. Z-sum score and Principal Component Analysis (PCA) was deployed to analyse the secondary data spanning from 1999 to 2023. The decision rule deployed was that if a value for Financial Inclusion Index (FII) from zero to forty-nine (0-49) this shows that there is low financial inclusion; medium financial inclusion from fifty to sixty-nine (50-69) while, a value from seventy and above (70- above) denotes the high financial inclusion) for the study period. The result revealed that all SSA countries are low that is they fall into between zero (0) to forty-nine (49) in the composite financial inclusion index in line with the decision rule. Also, the result indicated that Sao-Tome and Principe was the best performing SSA country with the highest financial inclusion penetration per thousand considered during the period of the study.

In emerging economies, women entrepreneurs play a critical role in job creation and social and economic progress, particularly in townships. However, the specific context of women's township entrepreneurship has mainly been overlooked in South African research, which remains fragmented and lacks cohesive insights. This study explores the role of microfinance in fostering women's township entrepreneurship within a South African context. Research has repeatedly demonstrated that microfinance institutions hold a vital position in the economic advancement of women, resulting in elevated female participation in business activities and ultimately fostering their overall empowerment. The investigation focused on women entrepreneurs within the marginalised township of Mdantsane, located in the Eastern Cape Province of South Africa.  Using a qualitative approach, the study involved in-depth interviews with 15 women entrepreneurs selected through purposive sampling. The data was analysed using thematic analysis, revealing five key themes: empowerment through financial independence, building entrepreneurial skills and networks, increased business volume and turnover, overcoming socioeconomic barriers, and reduction in gender inequalities. The findings suggest that an intervention mapping approach is crucial for policymakers to design tailored microfinance programs for women entrepreneurs in township economies. This approach involves a systematic process that begins with a thorough assessment of the specific financial needs and challenges faced by women in these communities, followed by the development of targeted interventions that address those needs.

This study examined the demographic and operational attributes of Small and Medium Enterprises (SMEs) in Windhoek, Namibia, and their ramifications for bank funding. The study analysed a sample of 66 small and medium-sized enterprise (SME) owners and operators, focussing on gender, education, age, company experience, yearly income, sector type, and business registration status. Findings indicate a prevalence of female entrepreneurs, a well-educated business populace, and an emphasis on middle-aged business proprietors. The data indicates that although a considerable number of SMEs were in the nascent phases of operation, the majority of enterprises were registered with the Business and Intellectual Property Authority (BIPA). The findings highlighted the capacity of financial institutions (FIs) to offer customised assistance to SMEs, particularly in varied and non-traditional industries, to foster sustainable economic growth in Windhoek. The study finishes with recommendations for banks to enhance services and assess the funding requirements of these enterprises according to their distinct characteristics and challenges

A country's ability to develop depends on the empowerment of its women. Evidence from several countries indicates that giving Self-Help Group (SHG) member’s microcredit can help empower rural women. The main objective of the study is impact of creation of SHGs on rural women in Assam. Also purpose of this research was to determine how well SHGs in Assam contribute to women's economic empowerment. The study's primary data came from interviews with SHG beneficiaries conducted in the Bongaigaon District of Assam. In all, sixty samples are gathered from two blocks of the Bongaigaon district. According to the survey, the majority of respondents are between the ages of 25 and 45, and they have completed elementary and middle level of school. After joining SHGs, participants engaged in a variety of income-generating activities. The outcome demonstrated a favorable shift in economic empowerment metrics, such as income, employment, and savings, following SHG membership. For the economic indicators, the estimated value of the Wilcoxon signed Ranks Test was significant. It was found that, in comparison to the pre-SHG scenario, the majority of the respondents' income, employment days, and savings amount rose in the post-SHG scenario. Therefore, the study came to the conclusion that SHGs were essential to rural women's empowerment in the study region.

This study aimed to identify the financial management techniques of waste pickers and their perspectives on entrepreneurship.  The research concentrates on the Durban metropolitan region and employs a sample of 100 rubbish pickers from three suburbs adjacent to significant informal populations. A quantitative methodology is utilised, employing a questionnaire as the data gathering instrument. The questionnaire was translated into IsiZulu to accommodate non-English speaking individuals. The questionnaire comprised three sections: biographical information, financial management techniques, and attitudes towards entrepreneurship. The results indicate that most waste pickers originate from single-parent households and receive a government payment for an average of two children.  Several respondents, predominantly female, reported that they often utilise 'omatshonisa' (informal moneylenders) while anticipating revenue from the sale of their goods. The majority of respondents said that, despite opening bank accounts, these accounts had remained inactive for at least one year due to minimal revenues. Women possess the majority of bank accounts. Waste pickers earn an average of R607 monthly, with a minimum of R200 and a maximum of R2,000. The waste pickers do not save the earnings from the sale of salvaged goods, as the funds are allocated for purchasing meals for children. The study additionally reveals that age has a positive correlation with both waste picking experience and the frequency of days worked per week. These associations exhibit statistical significance.  The majority of waste pickers expressed a willingness to initiate cooperatives and small businesses, contingent upon the availability of mentoring and money. This study influences entrepreneurship, environmental, and health policies for municipal, provincial, and central governments. This research will direct scholars to pursue other investigations on the topic

Financial inclusion aims to include the unbanked population in the official financial system. To quickly serve the unbanked population, this study aims to investigate the concept of agent banking as a means of financial inclusion and to assess the elements that influence the acceptance of agent banking in Bangladesh. The study also covered the main advantages of agent banking and pertinent barriers to its adoption. Using a basic judgmental sampling technique, 195 respondents from the Chittagong region made up the study's sample. Face-to-face interviews and a structured questionnaire were used to collect the data. The impact was investigated using statistical measures such as mean, standard deviation, correlation, and regression. Kendall's W test, also known as Kendall's coefficient of concordance, was utilized to evaluate the benefits and drawbacks of accepting agent banking in this study. According to the result, there is a significant positive correlation between acceptance of agent banking and independent variables - perceived trust, convenience, perceived risk, awareness, and service quality. The study also found that easy banking is the key reason for agent banking, marked by the respondents, followed by the nearest location and adding new customers. Lack of training is the major challenge, followed by a lack of logistic support and cyber security risk in implementing agent banking in Bangladesh.

In the quest to achieve SDG 1 on eradicating poverty, improving savings rates in East Africa is crucial, as it lays the foundation for reducing financial vulnerability and achieving economic resilience. This paper investigated the determinants of individual savings in selected East African countries. Specifically, internet access, financial inclusion, and borrowing were the covariates while individual savings in East Africa were the predicted. This study utilized data from the Global Findex 2021 World Bank database. This dataset was selected because it is one of the most comprehensive databases on financial inclusion, providing a comprehensive view of adults' savings, borrowing, payments, and risk management across global and regional contexts. This study used a basic framework to explore the factors influencing individual savings by examining production, income distribution, and accumulation. A panel data logistic regression model was utilized, and Instrumental Variables (2SLS) regression was employed to test endogeneity. The Sargan and Basmann tests assessed overidentification restrictions to validate the instruments. Shea’s partial R-squared measured the unique contribution of each instrument in explaining the variation in endogenous variables, accounting for the influence of other instruments and endogenous variables. The Hausman test which model was suitable for panel data modeling. The 2SLS regression showed no evidence of endogeneity, as internet access was insignificant with a high p-value (> 0.05). Overidentification tests confirmed instrument validity with p-values of 0.1018 and 0.1016. However, Shea’s partial R-squared revealed weak instruments, especially for borrowing, with an adjusted value of 0.0328. Results revealed that borrowing is strongly and positively associated with saving. The higher the borrowing, the more the savings. In East Africa, most borrowers are savers. These use the borrowed funds to create an injection of income flow through capital accumulation. Internet access significantly predicts savings in East Africa today. In this digital era, most businesses are run online. Therefore, it is almost impossible to save with no internet access. Similarly, those who use digital payment systems are most likely to enhance their savings. Age and gender do not influence the saving of an individual in East Africa. Likely, owning a financial account does not translate to more savings. Most East Africans have non-functional bank accounts. Education levels significantly influence the savings of individuals in East Africa. Highly educated people utilize financial literacy skills to save more. Being out of the workforce reduces individual savings since most of these are out of the working age. 

Policymakers and scholars universally accept and recognize the influence of small, macro, and medium enterprises (SMMEs) on stimulating economic growth and job creation. To succeed and prosper, SMMEs need to establish a sound financial management function; therefore, it is vital to investigate the financial challenges these firms are experiencing. The objective of this paper was, to investigate possible challenges that SMMEs experience when applying for credit from banks. The study sought to answer the main research question - ‘What challenges are encountered by SMMEs when applying for credit from banks? The study adopted a qualitative research methodology. The population used in this research was derived from SMMEs and banking officials in the Vhembe District Municipality area. Stratified random sampling was used to select a sample of 10 research participants. An interview guide was used to gather data from the participants; the data was analyzed using Atlas.ti. The results indicated that most SMMEs in the Vhembe district are not adequately supported, especially in the areas of financial resources, as well as in financial literacy skills and expertise. Specifically, this study identified that the credit application challenges faced by SMMEs are related to - lack of collateral security, lack of financial application education, complex bank credit access regulations, non-satisfaction of banks’ qualifying criteria, as well as stringent credit system, and documentation requirements.

Financial inclusion, especially the adoption of fintech, has emerged as a crucial avenue for removing the financial access divides in developing countries, including Bangladesh. Following the comprehensive analysis, this article intends to outline Bangladesh's recent experiences with fintech-based financial inclusion, identify the short-comings and hence make policy suggestions. Being a descriptive research, cross-sectional and observational research approaches are applied for the explanatory analysis of secondary data. Results suggest an urban-rural gap in the implementation of digital financial services, with urban areas consistently having higher rates of fully online branches and a greater number of financial machines. Despite this, the sharp rise in the issuance of active cards is a positive sign suggesting an expansion of consumer base and an adoption of electronic modes of payment. Moreover, inter-bank electronic fund transfers and online banking have experienced increasing uptake, revealing a progressing trend towards digital transactions within the banking industry. Additionally, the study identifies a speedy growth in the number of mobile financial services accounts in both urban and rural areas. This study adds to the exchange of ideas regarding financial inclusion by carrying out a detailed study of Bangladesh's digital financial transformation, exemplifying the accomplishments, obstacles, and future research directions. It highlights the need for targeted policies and ongoing research efforts to build inclusive financial systems to serve the entire society’s interest. Nevertheless, the observations will have both theoretical and practical significance, contributing towards building capability in harnessing technology for sustainability, community uplifting, and shaping a brighter future.  

This study aims to investigate and identify the current conditions regarding the role of Sharia microfinance institutions in developing MSME businesses. The community needs Microfinance institutions, especially low-income groups and small and micro-entrepreneurs who have yet to be reached by banking financial services, especially public banks. In providing loans to MSMEs, microfinance institutions must effectively educate and equip their clients with relevant entrepreneurial knowledge and skills. This research will use a qualitative approach with a case study method, which does not use statistical generalizations but uses logical generalizations and replication. Three Sharia microfinance institutions and sixteen MSME cases will be selected in this research. The research was conducted at Sharia Microfinance Institutions as providers of microcredit and MSMEs receiving microcredit in the Southern region of the Special Region of Yogyakarta, Gunungkidul, and Kulonprogo. This research will use three data collection methods, namely interviews, observation, and documentation, to maintain the validity and reliability of the data. Data triangulation is used to test the validity of the data. The data analysis process in this research uses two stages: descriptive analysis and case analysis. The findings of this research show hope regarding the promise of easy access to capital or funding sources as an effective tool for improving MSME business development through effectiveness, supervision, and guidance carried out by Sharia microfinance institutions. This change can be realized if the community has economic stability obtained through easy access to capital, increasing business income, and empowering the community to be ready to become entrepreneurs. It supports the development of a creative economy industry based on entrepreneurship and globally competitive ethics.