The Financial Impact of COVID 19 in Zimbabwe: A Case Study of Harare Women Entrepreneurs

Abstract

The investigation sought to examine the impact of COVID 19 on women entrepreneurs in Zimbabwe using the case study of Harare women entrepreneurs. Globally more than 50% of women entrepreneurs had closed shop, were no longer able to collect receivables and the opened women entrepreneurs are running short of inventory within a month. Authorities need to implement a comprehensive set of measures to rescue women entrepreneurs. A pragmatic approach was used and the instruments used in the investigation included questionnaires, interview guide and documentary analysis. The target population 261000 of women entrepreneurs in Harare, Zimbabwe was used using 2020 records from the Ministry of Woman affairs, Community, Small and Medium Enterprises Development (MWACSMED). A non probability sampling technique was used for this study because it is quicker, easier and cheaper. A judgmental sampling techniques was administered on 385 sampling units generated by the Raosoft sample size calculator. Regression, correlation analysis was conducted to analyse the investigation results using SPSS version 20. Theme analysis was also administered on qualitative variables. The study concluded that small manufacturing, and trade, women-led SMEs have been among the hardest hit by the crisis financially. As a recommendation, the government, banks, and other financial providers must imperatively adopt appropriate gender-sensitive responses that consider women’s unique needs, impact, and perspectives. It is also time to adapt to a new reality such as digital finance as the new normal.