An evaluation of microfinance contribution to youth entrepreneurship and access to funding: a case of sub-Saharan Africa

Juliana Siwale and Ugbede Umoru

Chapter 15 in The Elgar Companion to Social Innovation and the Sustainable Development Goals, 2026, pp 314-329 from Edward Elgar Publishing

Abstract: Microfinance has been consistently recognized as a significant and pivotal force in the ongoing efforts to alleviate poverty by providing essential access to financial resources, thereby enhancing the overall financial inclusion of individuals who are typically unbanked and vulnerable, particularly within the context of developing economies. In this chapter, we conduct a thorough evaluation using archival data of the contributions of microfinance to the promotion of youth entrepreneurship and the facilitation of access to funding, with a specific focus on the sub-Saharan African region, including Nigeria, Tanzania, Uganda, and Zambia. Our findings illuminate several critical barriers that significantly constrain the ability of youth to secure access to credit financing, including, but not limited to: “a lack of collateral,” “limited credit history,” and “the stipulation that the business must have been operational for at least six months.” Consequently, it becomes evident that the existing framework and structural configuration of microfinance institutions do not adequately address or target the unique needs and circumstances of the youth demographic.

Keywords: Microfinance; Youth Entrepreneurship; Social Innovation; Sub-Saharan Africa; Financial Inclusion; Credit Access (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035326037
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