Impact assessment of the roles played by micro finance institution (MFIs) in facilitating development of small to medium enterprises (SMEs) in Zimbabwe.

Author
Muza,Tutsirayi
Title
Impact assessment of the roles played by micro finance institution (MFIs) in facilitating development of small to medium enterprises (SMEs) in Zimbabwe.
Abstract
The research focused on the impact of micro finance services on the development of SMEs in Zimbabwe, the case of Harare. It was conducted in order to investigate the link between the development of SMEs and the various financial services available to them. The research was guided by the following objectives: to identify the services offered by MFIs, the accessibility of MFI loans, to determine the significance of micro finance services in promoting SME growth, and to determine the impact of MFI loans on SME profits. Data was gathered from MFIs as well as SMEs owners. The study was carried out using a descriptive research design, and SPSS was used to analyze the data. Data collection was done through use of questionnaires, interviews and observations with a sample size of 44 respondents which was obtained by stratified random sampling methods. This study shows that services that were obtained from MFIs in Harare have allowed SMEs to improve their operations in various ways. This is evidenced by the increase in sales turnover and profitability. The study recommends that Small enterprises should keep up with updates on MFI services offered in order for them to keep up with current information, and for them to have access to the services. It also recommended that Government policies and programs to develop SMEs should be conceptualized for them to be more effective. The study recommend a reduction of interest rate of SME loans, so that it promote business growth and development.
Date
June 2023
Publisher
BUSE
Keywords
Micro finance Institutions
Small to Medium Enterprises
Supervisor
N/A
Item sets
Department of Banking and Finance
Media
Tutsirayi Muza.pdf

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