The nexus between financial skills and funding models that lead to optimum gold production for artisanal and small-scale gold miners (ASSGM) in Zimbabwe

Abstract

The artisanal and small-scale gold mining sector is contributing enormously to the economy of Zimbabwe. Financial skills in people involve the knowledge on all the books of accounts that are needed for one to access funding. The study seeks to highlight the association between financial skills and access to funding from financial institutions. The research noted that most ASSGM are failing to access funding due to lack of financial literacy. The study used age of the miners, level of education and the availability of books of accounts to assess the relationship between financial skills and access to funding models. The findings from the study revealed that there is a strong association between financial skills and access to funding models for optimum production. However, the study also revealed that there is no association between availability of books of finance for valuation purposes and access to funding models for optimum gold production. It also concluded that there is need for education of ASSGM on financial skills to enhance their changes to access funding from banks. Keywords: Access to Funding, Artisanal and Small-Scale Gold Miners, Financial Intermediaries, Financial Skills, Zimbabwe.