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In the past decade, Southeast Asia has seen the development of financial inclusion, as evidenced by the growth of the penetration, availability, and usage dimensions of financial inclusion. This study analyses the impact financial inclusion has on economic growth, represented by GDP per capita growth, and unemployment using data from Indonesia, Malaysia, Thailand, the Philippines, and Cambodia. The authors employed panel data regression with fixed effect and random effect models to analyse the data. The results show that the number of commercial bank branches and outstanding loans statistically significantly affect GDP per capita growth, while the number of saving/deposit accounts does not. All three variables are shown to have a statistically significant impact on unemployment.

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.

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.

Zambia has not trailed behind other nations in promoting financial inclusion, one of its deliverables in its 2022-2026 Eighth National Development Plan. The analysis focused on the likelihood of reaching this goal and the implications for bank operating stability. A mixed research (quantitative and qualitative) approach was used and drew respondents from several remote areas in Zambia. A hypothesis test on the observed against the hypothesised mean (p-value = 1.93e-38 and <0.005) rejected the null to accept the alternative presupposition that banks have a relevant role in achieving financial inclusion, but they are not a necessary ingredient. The correlation test also aligned at both 95 and 99% confidence levels, that supported the null hypothesis to conclude that there is no correlation between the preferred channels of financial services and the adequacy of financial inclusion. Respondents felt that the financial inclusion services would still be offered at basic satisfactory levels regardless of the available form of financial service provider. The Kruskal-Wallis test supplemented the findings with p = 3.09667e-20(<0.05) that rejected null to conclude that any form of financial services is statistically significant in delivering basic financial inclusion in Zambia. The implications for banks are the risks for continuous survival because of the popular user-friendly alternative channels. It is recommended that the Bank of Zambia should sustain the relative relevance of formal banks by balancing their contributions with other innovative financial service channels. Banks should integrate with new market entrants, or the future will have a banking system without banks. Regulators must support banks’ survival traits such as the light set of criteria in their Know Your Customer (KYC) package.

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.

Zambia has not trailed behind other nations in promoting financial inclusion, one of its deliverables in its 2022-2026 Eighth National Development Plan. The analysis focused on the likelihood of reaching this goal and the implications for bank operating stability. A mixed research (quantitative and qualitative) approach was used and drew respondents from several remote areas in Zambia. A hypothesis test on the observed against the hypothesised mean (p-value = 1.93e-38 and <0.005) rejected the null to accept the alternative presupposition that banks have a relevant role in achieving financial inclusion, but they are not a necessary ingredient. The correlation test also aligned at both 95 and 99% confidence levels, that supported the null hypothesis to conclude that there is no correlation between the preferred channels of financial services and the adequacy of financial inclusion. Respondents felt that the financial inclusion services would still be offered at basic satisfactory levels regardless of the available form of financial service provider. The Kruskal-Wallis test supplemented the findings with p = 3.09667e-20(<0.05) that rejected null to conclude that any form of financial services is statistically significant in delivering basic financial inclusion in Zambia. The implications for banks are the risks for continuous survival because of the popular user-friendly alternative channels. It is recommended that the Bank of Zambia should sustain the relative relevance of formal banks by balancing their contributions with other innovative financial service channels. Banks should integrate with new market entrants, or the future will have a banking system without banks. Regulators must support banks’ survival traits such as the light set of criteria in their Know Your Customer (KYC) package.

This study primarily investigates microfinance practices for sustainable community welfare. Microcredit aims to provide credit to poor people to help empower communities and reduce poverty. Community empowerment strategies can be carried out by increasing the productivity of poor communities to increase their income. A basic approach that emphasizes that the poor move from their current situation to a better position by empowering MSMEs through the distribution of microcredit by micro-financial institutions. Changes that will result in sustainable prosperity, decreasing inequality between regions, and reducing community income gaps. This research will use a qualitative approach using the case study method, which does not use statistical generalizations but uses logical and replicative generalizations. This research uses multiple cases with varying characteristics as research informants. Two microfinance institutions and ten cases of MSMEs will be selected in this research. The study was conducted at Sharia Microfinance Institutions as providers of microcredit and MSMEs receiving microcredit in the Southern region of the Special Region of Yogyakarta, Bantul. This district was chosen because Bantul has the highest poverty rate. This condition is the focus of attention for maximum treatment. This research will use three data collection methods: interview, observation, and documentation, to maintain the data's validity and reliability. Data triangulation was used to test the validity of the data. The data analysis process in this research uses two stages: descriptive analysis and within-case analysis. The research results found that microfinance practices carried out through Sharia Microfinance Institutions (SMFI), apart from focusing on providing accessible financing facilities, have also provided direction in developing MSMEs and taking action towards community welfare. SMFI regularly provides business development training to MSMEs

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.

In the past decade, Southeast Asia has seen the development of financial inclusion, as evidenced by the growth of the penetration, availability, and usage dimensions of financial inclusion. This study analyses the impact financial inclusion has on economic growth, represented by GDP per capita growth, and unemployment using data from Indonesia, Malaysia, Thailand, the Philippines, and Cambodia. The authors employed panel data regression with fixed effect and random effect models to analyse the data. The results show that the number of commercial bank branches and outstanding loans statistically significantly affect GDP per capita growth, while the number of saving/deposit accounts does not. All three variables are shown to have a statistically significant impact on unemployment.