Impact of financial inclusion on the growth of SMEs in the mining sector. A case of SME mines in Bindura town · Electronic Theses and Dissertations

Author

Lydia Sandra Maunjili

Title

Impact of financial inclusion on the growth of SMEs in the mining sector. A case of SME mines in Bindura town

Abstract

This dissertation aims to address the knowledge gap by investigating the impact of financial inclusion on the growth of SMEs in the mining sector of Bindura. The objectives were three they include; to examine the relationship between financial accessibility and growth of SMEs in the mining sector of Bindura, to examine the relationship between financial technology and growth of SMEs in the mining sector of Bindura and lastly to examine the relationship between financial literacy and growth of SMEs in the mining sector of Bindura. The study focused-on theories which include the resource-based theory, the neoclassic theory and the finance growth theory. This study utilized a quantitative research approach, employing a regression analysis design to investigate the relationships between variables. A survey was conducted using a sample of 96 respondents, selected from a target population of 162. Questionnaires were used to gather the data and it was analyzed using SPSS. The findings of the study from the regression analysis revealed that there was a positive relationship between financial accessibility, financial technology, financial literacy and growth of SMEs in the mining sector of Bindura thus overally concluding that there is a positive relationship between financial inclusion and growth of SMEs in the mining sector of Bindura. To mention a few, the study recommended encouraging financial institutions to develop loan products that cater for specific needs of SMEs in the mining sector offering flexible repayment terms and reasonable interest rates, financial institutions and stakeholders to offer training and capacity-building programs to help SMEs develop the skills and knowledge needed to access and utilize financial services effectively and lastly MEs should explore alternative financing options beyond traditional banking, such as microfinance institutions, venture capital firms, and crowdfunding platforms. By putting these recommendations into effect, SMEs in Bindura's mining industry will have easier access to funding, improving their chances of growth and sustainability.

Date

June 2024

Publisher

BUSE

Keywords

SME

Mines

Financial inclusion

Supervisor

N/A