The influence of microfinance programmes on women owned sme development in Mashonaland west province of Zimbabwe

Abstract

Women have benefited greatly from financial support from a variety of sources, including MFIs, in their active participation and involvement in the expansion of the economy and the creation of employment possibilities in the small and medium firm sector. The prosperity of society is largely attributed to Women Small and Medium Enterprises (SMEs) development, which is also linked to economic growth and development, bettering living conditions, generating new employment opportunities, and technical advancement. This study sought to establish the Influence of Microfinance products on womenowned SMEs development in Mashonaland west province of Zimbabwe. A pragmatist paradigm research philosophy was adopted. A mixed research approach was used. A cross sectional survey research design a self-constructed structured questionnaire and an interview guide was used to collect data. The study targeted women SMEs who have been receiving Microfinance services in Mashonaland West Province of Zimbabwe. Three hundred and seventy seven women SMEs were exposed to the questionnaire and 30 were exposed to interviews. The study found out that the women SMEs are aware of the Microfinance products and services and are using some of the products. It was also found that there is a positive relationship between Microfinance products and womenowned SMEs development.