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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 paper focuses on a scantly researched phenomenon, namely, the extent to which financial inclusion is influenced by corporate governance practices. The question that normally arises is whether corporate governance practices are tailored to supporting the financial inclusion mandate. The other question is whether there are certain corporate governance practices that advance financial inclusion. This paper reviews extant empirical literature on these matters with a view of stimulating debate on the subject. Cognisant that institutions that advance financial inclusion are largely financial institutions, the starting point is relating to contemporary corporate governance practice in financial institutions. We know that financial institutions belong to a specific class of corporations whose failure affects society at large because of the financial services they provide. As a result, they are heavily regulated and their corporate governance structures are bound to differ from those of conventional firms. Similarly, we know that financial inclusion institutions are special types of financial institutions with mandates to provide financial services to underserved population segments which equally require special treatment. The scant literature available shows, albeit not conclusive, some evidence of a positive relationship between sound corporate governance and financial inclusion. However, more research on how corporate governance affects different dimensions of financial inclusion is recommended.

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.

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.

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 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.

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.

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.