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International Journal of
Commerce and Economics
ARCHIVES
VOL. 5, ISSUE 2 (2023)
An investigation of microfinance institutions lending patterns in Zimbabwe
Authors
Kueredza Taonga, Manuere Faitira
Abstract
This research is an investigation into the extent to which Microfinance institutions are contributing through their lending patterns. Financial institutions spending patterns can be analyzed through their financial inclusions. This research study was guided by research objectives namely 1) to investigate the feasibility of integrating microfinance and mobile banking to accelerate financial inclusion, 2) to determine the extent of financial inclusion in geographically remote areas and 3) to establish necessary measures that will shift usage of microfinance funding from consumption to productive purpose. The target population for this study was comprised of 5 microfinance organizations namely Cover link microfinance, Get bucks microfinance, CBZ microfinance, Solid microfinance and Steward microfinance which had a total of 320 employees taken from their human resources offices in their head offices in Harare, Zimbabwe. The researcher adopted a sample of 120 employees which were attained through the use of Rao soft online sample size calculator. A stratified sampling was adopted to choose the sample from microfinance institutions in Zimbabwe. This research study revealed that there tend to be lacking feasibility of integrating microfinance and mobile banking to accelerate financial inclusion in Zimbabwe, financial inclusion has been adopted in geographically remote areas through mobile phones and financial deepening, measured by bank credit to the private sector, reduced corruption thereby acted as a measure that shifted usage of microfinance funding from consumption to productive purpose. It is recommended that Microfinance institutions should contribute to the Financial Inclusion Strategy in Zimbabwe.
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Pages:1-12
How to cite this article:
Kueredza Taonga, Manuere Faitira "An investigation of microfinance institutions lending patterns in Zimbabwe". International Journal of Commerce and Economics, Vol 5, Issue 2, 2023, Pages 1-12
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