An Empirical Analysis of Microfinance Accessibility and its Effect on the Growth of Women Entrepreneurs in Lusaka, Zambia

Catherine Njeri Kimani and Sulo Nair
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Catherine Njeri Kimani: University of Zambia
Sulo Nair: University of Zambia

African Journal of Commercial Studies, 2026, vol. 7, issue 3

Abstract: This study examined the effect of microfinance accessibility on the growth of women-owned enterprises in the Lusaka District, Zambia. The objectives of the study were to determine the role of financial literacy in influencing the effective utilization of microfinance services among women entrepreneurs in Lusaka District, to examine the impact of microfinance inaccessibility on the business performance of women entrepreneurs in Lusaka District, and to devise strategies for enhancing microfinance accessibility for entrepreneurial growth among women entrepreneurs in Lusaka District. Quantitative data was collected using structured questionnaires, while qualitative data were gathered through semi-structured interviews. Of the 384 questionnaires distributed, 319 were successfully returned, representing an 83.1% response rate. Quantitative results demonstrate that microfinance inaccessibility significantly predicts business performance decline (r = 0.612, p

Keywords: Microfinance Accessibility; Women Entrepreneurship; Financial Literacy; Lusaka; Zambia (search for similar items in EconPapers)
JEL-codes: G21 J16 L26 O55 (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:cwk:ajocsl:2026-006

DOI: 10.59413/ajocs/v7.i3.35

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