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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.

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.

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.

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.

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.

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.

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.

Despite the effort to increase financial inclusion, women-owned Micro, Small, and Medium-sized Enterprises (MSMEs) continue to face challenges in the uptake of financial services. Low financial uptake is strongly associated with business failure leading to low income and living standards among women entrepreneurs in marginalized areas. Market system strategies are crucial in determining businesses' level of financial uptake. The study investigated the effect of market system strategies on the financial uptake of women-owned MSMEs in the informal settlement of Nyeri County. Specifically, it investigated the effect of business readiness, financial literacy, investor relationships, and investment impact on financial uptake among women-owned MSMEs. The study variables were anchored on Ricky Griffin's model, Theory of Change, and Refinancing theory. The study used a descriptive research design, specifically a cross-sectional design. The target population was 890 women-owned MSMEs in the informal settlements of Nyeri county. Proportionate stratified and random sampling were used to obtain a sample of 275 businesses representing approximately 30% of the study population. Data was collected using structured questionnaires. A pilot test was conducted using ten individuals to test and improve the study questionnaire Reliability was tested using Cronbach's alpha, where an alpha of 0.7 was the acceptable threshold. Regression analyses indicated that the market system strategies, business readiness, financial literacy, impact investment, and investor relationship positively and significantly affected financial uptake, with p-values lower than 0.05 alpha. The study found that businesses with better market system strategies have a higher financial uptake. Based on the findings of this study, it is recommended that policies and interventions aimed at improving financial uptake among women-owned MSMEs should focus on enhancing business readiness and financial literacy and building strong impact investment and investor relationships. The county government, NGOs, and others interested stakeholders should encourage women entrepreneurs in informal settlements of Nyeri county to seek training and support to develop their business skills and increase their understanding of financial uptake. Furthermore, the county and national governments should connect women-owned MSMEs with impact investors and establish relationships to provide funding, support, and mentorship. Finally, policymakers and stakeholders in the financial sector should consider creating an enabling environment that supports and incentivizes impact investment in MSMEs, especially those owned by women, to increase their financial uptake.

This paper aims to examine the effect of strategic leadership, resource allocation, information technology, customer focus, and differentiation on the performance of microfinance institutions in Nairobi City County. The study was founded on a resource-based view, dynamic capability and life-cycle theories. A target of 300 employees was targeted from which a sample of 172 research participants was recruited. The sample was selected through a combination of both stratified and sampling techniques. Questionnaires were used for primary data collection. Analysis used both descriptive and multiple regression analyses. The findings of the study indicated the urgency for microfinance organizations to adopt growth strategies that encompass innovative digital advancements, the introduction of novel products, innovation-focused strategies, and the digitization of services. The findings further highlighted the pivotal roles played by strategic positioning, strategic leadership, information technology integration, and differentiation in significantly shaping microfinance institutions’ performance. The findings also indicated that a unit enhancement of strategic positioning indicator had a significant enhancement on their individual performance. However, the effect of customer focus and resource allocation did not exhibit the same level of significance. The study recommended the reinforcement of strategic positioning, optimized resource allocation, embracing technological integration, and an unwavering focus on customer needs. The study recommended the exploration of diverse leadership styles, resource allocation strategies, and the undertaking of comparative analyses to draw insights into the effects of these factors on microfinance institutions.

With the increased emphasis on financial inclusion by developing countries, the emergence, impact and sustainability of microfinance institutions (MFIs) is considered topical. This paper assesses the influence that financial literacy has on the growth outreach of MFIs, from a South African context. Using an online questionnaire, we collected data from 44 respondents, representing various MFIs in Limpopo, South Africa. In addition, interviews were conducted with four subjects from the regulatory body, MFSA. We applied panel data fixed effects regression, with binary logit component to measure relationships and effects of the variables under study. According to the results, there was strong consensus that financial literacy of MFI clients, proxied by loan portfolio education, and financial budgeting and investment training offered to MFI clients, improves overall MFI growth outreach, and MFI sustainability in the long run. The contribution of this paper is that, since microfinance institutions by mandate, pursue socio-economic goals, many are not geared towards being financially sustainable. However, with the drying up of grants, donor funds, subsidies and other capital injections into MFIs, it is important for them to implement alternative measures to ensure that their borrowers meet their repayment obligations timeously, hence improving institutional growth and sustainability.

The aim of this study is to examine threats related to informal fish vending business among urban-based women and to propose strategies for overcoming the threats. Specifically, the study ascertains the threats associated with the fishing business and strategies for coping and the capacity to cope. Based on the multi-layered social resilience framework, this study used a qualitative design and a sample size of 30 participants obtained both randomly and purposively. The findings revealed that threats experienced by the vendors include stigma, fish scarcity, higher fish prices, inadequate business capital, various forms of gender-related violence such as sexual harassment, lack of legal status, and various forms of crime including robbery, theft, and pickpocketing. Findings further indicated that vendors managed to develop both reactive and proactive strategies for coping with the threats. Reactive strategies include joining small self-helping groups popularly known as Village Community Banking (VICOBA) and soliciting family and relative support against insecurity threats. Proactive strategies include securing business financing from credible institutions, business diversification and adopting new kinds of business, business registration and licensing, searching for and participating in education and capacity-building programs, as well as business advocacy. It is recommended that government support, provision of education, and access to credit, should be considered in supporting women fish vendors to cope with the threats in their fishing business activities.

For generations, women in Tanzania have been undermined economically despite efforts from the government, educational institutions, and non-governmental organizations. Besides all of them, the growth of digital communication is emerging, inseparable from transforming women’s empowerment economically, politically, and socially. However, how social media has empowered women financially as an aspect of economic empowerment remains understudied in Tanzania. This study assesses the role of social media in the digital economy to realize its contribution to women’s financial empowerment. Specifically, the study assesses the financial activities of women’s support groups through social media, examines how social media offer economic opportunities to women’s support groups and identify the challenges associated with social media women’s support groups. This study is qualitatively designed and employs in-depth interviews with leaders of women’s support groups in the city of Dodoma. The findings highlight the benefits of WhatsApp social media as a platform for digital economic practices, specifically in enhancing the performance of financial activities. The results also revealed a lack of binding principles among women’s support groups, making them fragile and affecting their growth and sustainability. The study recommends establishing government regulations that bind members who decide to help each other through social media sites. This practice ensures the sustainability of women’s financial groups and avoids online fraud thus, promote women’s financial empowerment and participation in the digital economy in Tanzania.

The study was conducted in Tanzania to assess the effect of financial service access on the agricultural commercialization of smallholder rice growers in Kilombero under the moderating effect of institutional cultural cognition. Primary data were collected from 397 smallholder farmers, and after data cleaning, we remained with 358 responses subjected to regression analysis. Data were analyzed using hierarchical multiple regression analysis with the help of IBM SPSS software. The findings revealed that financial service access significantly positively affected commercialization. Also, the results confirm that institutional cultural cognition has a significant negative moderation effect on the relationship between financial inclusion and agriculture commercialization. The results suggest that reducing cultural cognition can increase financial service access. So, if the wrong perception and beliefs of the poor and marginalized society toward formal financial services can be reduced, then access to formal financial services will be increased, thus improving the level of agriculture commercialization. Also, we recommend that policymakers and the government set policies to reduce the cost of accessing financial services and enhance financial services availability.

The purpose of this paper is to establish the effect of the ease of access to mobile credit on the financial prosperity of MSEs. The ease of access describes the simplicity and easy way of enabling the provision of credit to a mobile money subscriber. Mobile credit means the credit offered through mobile phones whether from mobile phone operators in conjunction with banks or non-bank financial institutions or stand-alone mobile finance companies as per AFI - Global (2020) definition. This study tries to analyze whether there is a relationship between ease of access and the financial prosperity of an entrepreneur. Financial prosperity on the other hand is the economic well-being of a person or institution. The study adopted a descriptive research design. The target population for this study was 271,365 Licensed Small and Micro entrepreneurs in Nairobi County as per the Nairobi City County Licensing Database as of 16th November 2020. The sampling design employed a stratified sampling design to achieve a representative sample of the respondents. The sample size was 400 MSEs from each MSE, and the owner or key member was picked to participate. Overall, it was found that ease of access to mobile credit had a positive influence on financial prosperity. This implies that improved access to mobile credit leads to improved financial prosperity. An increase in Ease of access has a significant positive relationship (1.741432) with the financial prosperity composite. An increase in ease of access by one unit leads to an increase in financial prosperity by 1.741 units. Based on the study findings, it is recommended that mobile lenders should offer mobile credit with affordable terms. The mobile credit lenders should maintain a short period of the mobile money application process and approval to enhance the profitability and leverage of businesses. With good use of mobile credit, increased liquidity would increase financial prosperity for micro and small entrepreneurs.

One of the most important concerns facing the world today is financial inclusion. Organizations, financial institutions, and people in positions of responsibility are all demonstrating an interest in learning more about this. Several industrialized and emerging nations have recognized financial exclusion as a major socio-economic problem that needs to be addressed. This paper aims to examine the factors influencing smallholder farmers' financial inclusion in Zimbabwe. Using the logistic regression analysis, the results of the study pointed out that there was a considerable correlation between a household's size, off-farm income, agricultural extension service, distance, and transaction costs in a logit model, which was used to determine whether it had access to financial services. Government and financial service providers should strive to make it easier for people to get to their nearest banking institutions by establishing access points close to their residences. Filling stations and major supermarkets are examples of places where these access points could be positioned. As a result of greater access to formal financial services, small-scale farmers may benefit. Financial service providers must perform regular charge reviews as one of the factors that may deter families from utilizing financial services.

Governments in developing economies are continuously seeking ways to increase the number of people that have access to formal financial services. However, literature on why households in developing economies are excluded from the formal credit sector is scarce. Thus, this study examines the link between household characteristics and the choice of credit provider using unique household-level primary data from the Niger Delta region. A binomial logistic regression model based on relevant household characteristics is developed for estimation. The results show that the number of dependents and income of a household, as well as education level and age of household head, is relevant in understanding the choice of the credit provider. Strikingly, the finding that the probability of borrowing from the informal sector increases with household distance from a formal lender at a decreasing rate suggests the significance of cost associated with traveling to the nearest bank on the choice of a lender and the presence of information asymmetry in the credit market of the region. Overall, the study raises important implications to inform credit market policies and practices in the region.

The goal of this study was to see how financial inclusion affects gender-based poverty in Nigeria. Commercial bank branches, deposits, and borrowers were the proxy for financial inclusion. The poverty index was used to measure poverty reduction. The World Development Indicator (WDI) and the CBN Statistical Bulletin 2021 provided the data for this study. Finally, the study included the years 2002 to 2019. Financial inclusion reduces household poverty in Nigeria, according to the study, which used a VAR estimate. The coefficients of commercial bank branches and commercial bank deposits were (-0.004) and (-0.008), respectively, indicating that they had a negative influence on poverty reduction. Furthermore, the study discovered that having access to credit through a financial institution was crucial in lowering poverty in Nigeria over the study period. As a result, the report recommends that steps to promote the rule of law, particularly contract enforcement and financial regulatory inspection, be implemented, resulting in more financial inclusion and a reduction in poverty and income gaps, particularly between men and women. The benefits of financial inclusion must be made more widely known, particularly in rural regions, through promoting financial literacy among the poor through education, advertising, and traditional institutions.