Village Banking as a Catalyst for Women’s Economic Empowerment: A Sociological Analysis of Market Traders in Chirundu District, Zambia Journal: Feminist, Microfinance and Gender

Background: Access to inclusive and contextually responsive financial systems remains central to the economic empowerment of women operating within informal economies, particularly in sub-Saharan Africa. In Zambia, women market traders continue to face systemic exclusion from formal banking institutions due to limited collateral, irregular incomes, and gendered socio-economic constraints, despite their substantial contribution to household welfare and local economic development.
Aim: To examine the role of village banking as a grassroots financial mechanism and its role in advancing the economic and social empowerment of women market traders in Chirundu District, Zambia.
Methods: The study employed a qualitative research approach with hermeneutic phenomenological research design. Purposive non-random sampling method was used to recruit 15 participants who were active members of village banking groups. Semi-structured interviews were used to collect data and interviews were audio recorded. Qualitative data was analysed using thematic analysis.
Findings: The findings reveal that village banking provides critical services including savings opportunities, access to loans and credit facilities, interest-bearing savings schemes, and mentorship coupled with financial training. These services enabled women to mobilise capital for business expansion, enhance household livelihoods through improved nutrition, housing, and educational support for children, and reduce reliance on exploitative informal moneylenders. Beyond economic gains, participation in village banking strengthened women’s financial discipline, decision-making autonomy, self-esteem, and social recognition, thereby contributing to broader processes of social empowerment and gender equality. However, the study also identified persistent challenges such as loan default, weak adherence to group rules, inadequate investment capital, leadership accountability gaps, and domestic tensions arising from shifting gender roles.
Conclusion: The study concludes that village banking constitutes a significant catalyst for women’s economic and social empowerment within informal markets and represents a viable pathway toward advancing
Sustainable Development Goal 5 on gender equality, provided that governance, financial literacy, and institutional linkages are strengthened. The study recommends strengthening institutional support, accountability, financial literacy training, and linkage with formal financial institutions to improve outcomes.
Keywords: Village Banking, Women’s Economic Empowerment, Financial Inclusion, Microfinance, and Market Traders

Village Banking, Women’s Economic Empowerment, Financial Inclusion, Microfinance, and Market Traders

1. Addeo, D. F. (2013). Hermeneutics as a Research Method: How to do research using Hermeneutics approach. Italy: University of Salerno. [Google Scholar] [Crossref]

2. Bateman, M. (2022). The rise and fall of microfinance: Development, debt and disillusion. London: Routledge. [Google Scholar] [Crossref]

3. Bateman, M., Blankenburg, S. and Kozul-Wright, R. (2022). ‘Microfinance and poverty reduction: Why the false promises persist’. World Development, 149, pp. 105681-105681. https://doi.org/10.1016/j.worlddev.2021.105681 [Google Scholar] [Crossref]

4. Best, J. W. and Kahn, J. V. (2003). Research in Education. Boston: Library of Congress Cataloguing-in Publication data. [Google Scholar] [Crossref]

5. Biggerstaff, D. L. and Thompson, A. R. (2008). Interpretative Phenomenological Analysis (IPA): A Qualitative Methodology of Choice in Healthcare Research. Qualitative Research in Psychology, 5(3): 214-224. [Google Scholar] [Crossref]

6. Birks, M. and Mills, J. (2011). Grounded theory: A practical guide. London: Sage. [Google Scholar] [Crossref]

7. Boholm, Å. & Corvellec, H. (2011). A relational theory of risk. Journal of Risk Research, 14, pp. 175190. http://dx.doi.org/10.1080/13669877.2010.515313. [Google Scholar] [Crossref]

8. Bourdieu, P. (1986). ‘The forms of capital’. In Richardson, J.G. (Ed.), Handbook of theory and research for the sociology of education. New York: Greenwood Press, pp. 241-258. [Google Scholar] [Crossref]

9. Braun, V. and Clarke, V. (2006). Using Thematic Analysis in Psychology. Qualitative Research in Psychology, 3, pp. 77-101. [Google Scholar] [Crossref]

10. Brody, C., De Hoop, T. and Vojtkova, M. (2022). ‘Economic self-help group programmes for improving women’s empowerment’. Campbell Systematic Reviews, 18(2), e1220. https://doi.org/10.1002/cl2.1220 [Google Scholar] [Crossref]

11. Bryman, A. (2012). Social Research Methods, 4th edition. Oxford: Oxford University Press. [Google Scholar] [Crossref]

12. Bryman, A. (2016). Social Research Methods, 5th edition. Oxford: Oxford University Press. [Google Scholar] [Crossref]

13. Central Statistical Office [CSO] (2022). Labour Force Survey Report. Lusaka: CSO. [Google Scholar] [Crossref]

14. Chanda, M. and Banda, R. (2023). ‘Savings groups and women’s household welfare in Zambia: Evidence from rural and peri-urban communities’. Journal of African Development, 25(2), pp. 89-108. https://doi.org/10.5325/jafrideve.25.2.0089 [Google Scholar] [Crossref]

15. Chijere, M. & Mweso, N. M. (2024). Financial inclusion through village banks: The gateway to women’s economic empowerment in Malawi. Journal of the African Women Studies Centre, 6(2), pp. 2233. [Google Scholar] [Crossref]

16. Chisenga, M. K. (2018). Measuring the effects of village bank programme on household income: a case study of Vulamkoko village in Katete district Zambia. PhD Thesis: Mulungushi University. [Google Scholar] [Crossref]

17. Cornwall, A. and Edwards, J. (2022). ‘Women’s empowerment: What works and why?’ World Development, 156, pp. 105888-105888. https://doi.org/10.1016/j.worlddev.2022.105888 [Google Scholar] [Crossref]

18. Creswell, J. W. (2013). Qualitative Inquiry and research design choosing among five approaches, 3rd edition. Thousand Oaks, CA: Sage Publications. [Google Scholar] [Crossref]

19. Creswell, J. W. and Creswell, J. D. (2017). Research design: Qualitative, quantitative, and mixed methods approaches. London: SAGE Publications, Inc. [Google Scholar] [Crossref]

20. Creswell, J. W. and Poth, C. N. (2017). Qualitative inquiry and research design: Choosing among five approaches, 4th edition. Thousand Oaks, CA: Sage. [Google Scholar] [Crossref]

21. D’Espallier, B., Guérin, I. and Mersland, R. (2023). ‘Women and repayment performance in microfinance: A global analysis’. World Development, 162, pp. 106102-106102. https://doi.org/10.1016/j.worlddev.2022.106102 [Google Scholar] [Crossref]

22. Demirgüç-Kunt, A., Klapper, L. and Singer, D. (2022). The Global Findex Database 2021. Washington, DC: World Bank. [Google Scholar] [Crossref]

23. Dzisi, S., & Obeng, E. (2021). An Explorative Study of the Village Banking Innovation in Sunyani, Ghana. International Research Journal of Advanced Engineering and Science, 6(3), pp. 371-378. [Google Scholar] [Crossref]

24. Floyd, A. and Arthur, L. (2012). Researching from within: External and Internal ethical engagement. International journal of Research and Methods in Education, 35(2), 171-180. [Google Scholar] [Crossref]

25. Food and Agriculture Organization of the United Nations [FAO] (2022). Women’s savings groups and food security in Southern Africa. Rome: FAO. [Google Scholar] [Crossref]

26. FSD Zambia (2023). Financial Inclusion Insights Report. Lusaka: FSD Zambia. [Google Scholar] [Crossref]

27. Gash, M. and Odell, K. (2023). ‘The evidence-based story of savings groups: A pathway to inclusive finance’. Enterprise Development and Microfinance, 34(1), pp. 1-15. https://doi.org/10.3362/17551986.23-00001 [Google Scholar] [Crossref]

28. Greenbanks, P. (2003). The role of values in educational research: The case for reflexivity. British Educational Research Journal, 29(6), 791-801. [Google Scholar] [Crossref]

29. Hapompwe, L., Siwale, J., & Banda, L. (2021). Village Banking Innovation in Urban Zambia. Social Work Forum, 10(2), 33-49. [Google Scholar] [Crossref]

30. Heise, L., Gibbs, A., Li, Y., McLean, L. and Stavropoulou, M. (2023). ‘Economic empowerment and intimate partner violence: A systematic review and meta-analysis’. The Lancet Global Health, 11(3), pp. e345-e356. https://doi.org/10.1016/S2214-109X(22)00508-8 [Google Scholar] [Crossref]

31. Hesse-Biber, S. and Johnson, R. B. (2015). The Oxford Handbook of Multimethod and Mixed Methods Research Inquiry. New York: Oxford University Press. [Google Scholar] [Crossref]

32. International Fund for Agricultural Development [IFAD] (2024). Inclusive rural finance in Africa: [Google Scholar] [Crossref]

33. Advancing women’s economic leadership. Rome: IFAD. [Google Scholar] [Crossref]

34. Johnson, S. (2022). ‘Gender and financial inclusion: Rethinking access and power’. Development and Change, 53(2), pp. 451-476. https://doi.org/10.1111/dech.12702 [Google Scholar] [Crossref]

35. Kabeer, N. (2023). ‘Gender equality, economic empowerment and social change’. Feminist Economics, 29(1), pp. 1-29. https://doi.org/10.1080/13545701.2022.2147921 [Google Scholar] [Crossref]

36. Karlsson, A. and Lundström, S. (2022). ‘Savings groups, resilience and women’s agency in low-income contexts’. Journal of Development Studies, 58(9), pp. 1703-1721. https://doi.org/10.1080/00220388.2021.2019734 [Google Scholar] [Crossref]

37. Katowa, V., Siamabele, B., Mumba, M.H., Mbengwa, M., Simoonga, R.K. & Salimata, C. (2025). Women’s Economic Empowerment through Village Banking: Evidence from Kaunda Square Stage One, Lusaka. Archives of Current Research International, 25(9), 164–184. https://doi.org/10.9734/acri/2025/v25i91485 [Google Scholar] [Crossref]

38. Kings, N. and Horrocks, C. (2010). Interviews in qualitative Research. London: Sage. [Google Scholar] [Crossref]

39. Kinyua, J. W., Kiiru, G., and Njoroge, D. (2022). “Effect of Client Appraisal and Loan Monitoring Strategies on the Repayment of Revolving Funds in Kenya”. International Journal of Managerial Studies and Research (IJMSR), 10(8), pp. 1-11. Doi: https://doi.org/10.20431/2349-0349.1008001. [Google Scholar] [Crossref]

40. Ksoll, C., Lilleør, H. and Rasmussen, O. (2023). ‘Impact of savings groups on women’s economic outcomes’. World Development, 162, 106094. https://doi.org/10.1016/j.worlddev.2022.106094 [Google Scholar] [Crossref]

41. Lweendo, E. M. (2022). The impact of village banking on financial inclusion for female marketeers: A case study of Masala market in Ndola. PhD Thesis: The University of Zambia. [Google Scholar] [Crossref]

42. Matemba, N. & Kumwenda, H. (2025). Investigation on the Role of Women Village Bank on Alleviating Rural Household Financial Vulnerability: A Case Study, Mangochi, Malawi. i-manager Journal on Economics & Commerce, 5(1), 32–39. [Google Scholar] [Crossref]

43. Mayoux, L. (2005). Women’s Empowerment through Sustainable Microfinance. Rethinking Best. Retreived from http://gamechangenetwork.org/wp_content/uploads/2017/02/taraqee_Rep ort_draft.pdf [Google Scholar] [Crossref]

44. Moyo, D., & Chinoda, T. (2022). Impact of Village Savings and Loan Associations on Food Security in Marange Community in Mutare District. Bohor International Journal of Multi-Disciplinary, 2(12), pp. 110-124. [Google Scholar] [Crossref]

45. Mponzi, W. M., Binyaruka, D., & Kaindoa, P. E. (2023). Exploring the potential of village community banking as a community-based financing system for house improvements and malaria vector control in rural Tanzania. PLOS Global Public Health, 3, e0002395. 10.1371/journal.pgph.0002395. [Google Scholar] [Crossref]

46. Mulenga, R. & Muuka, N.N. (2024). The Nexus Between “Village” Banking Model & Women’s Financial Inclusion in Zambia. American Journal of Applied Statistics and Economics, 3(1), 154-166. https://doi.org/10.54536/ajase.v3i1.3793 [Google Scholar] [Crossref]

47. Munthali, G.N., Wu, X., Nambiro Woleson Dzimbiri, M. et al. (2022). An investigation of the Sustainability of Village Savings and Loans Associations (VSLAs) amidst Covid-19 and its impact on household income levels: lessons from Malawi, Sub-Saharan Africa. BMC Public Health, 22, 1072. https://doi.org/10.1186/s12889-022-13303-9. [Google Scholar] [Crossref]

48. Mwila, B. & Simfukwe, H. (2024). An Assessment of the Growth and Sustainability of Community Village Banking in the Zambian Financial Markets. Archives of Current Research International, 16(2), 114. [Google Scholar] [Crossref]

49. Nalungwe, B. (2023). ‘Border economies and women’s informal trade in Southern Africa’. Development Southern Africa, 40(4), pp. 521-537. https://doi.org/10.1080/0376835X.2022.2145668 [Google Scholar] [Crossref]

50. Putnam, R.D. (2000). Bowling Alone: The Collapse and Revival of American Community. New York: Simon and Schuster. [Google Scholar] [Crossref]

51. Qazi, S. W., & Rashidi, Z. (2018b). Phenomenological Experiences of Women through Microcredit Programs of Upper Sindh: Stepping towards the Empowerment. NICE Research Journal, 200-222. [Google Scholar] [Crossref]

52. Roelen, K., & Rodriguez, K. (2022). The poverty reduction effect of social protection: The pros and cons of monetary and in-kind benefits. Palgrave Communications, 9(1), pp. 1-13. [Google Scholar] [Crossref]

53. Sibeso, G. (2022). Evaluating village banking and business expansion among Soweto marketeers in Lusaka. Master’s Thesis: The University of Zambia. [Google Scholar] [Crossref]

54. Sichilongo, M. & Sinkala, N. K. (2021). “How Women are Benefiting from Village Banking. A Case of Katuba Constituency”. International Journal of Humanities Social Sciences and Education (IJHSSE), 8(1), pp. 118-132. doi: https://doi.org/10.20431/2349- 0381.0811015. [Google Scholar] [Crossref]

55. Sikaluzwe Mushikiti, M. (2024). “An Assessment of the Growth and Sustainability of Community Village Banking in the Zambian Financial Markets.” International Journal of Research and Innovation in Social Science (IJRISS), 9(9), pp. 4117-4132. [Google Scholar] [Crossref]

56. Smith, J. A. and Osborn, M. (2008). Interpretative Phenomenological Analysis. In Smith, J. A. (ed), Qualitative Psychology: A Practical Guide to Research Methods, 2nd edition, pp. 53-80. London: Sage. [Google Scholar] [Crossref]

57. Smith, J. A., Flower, P., and Larkin, M. (2009). Interpretative phenomenological analysis: theory, method and research. USA: Sage Publications. [Google Scholar] [Crossref]

58. World Bank (2023). Enhancing women’s participation in economic development. Washington, DC: World Bank. [Google Scholar] [Crossref]

59. World Bank (2024). Financial inclusion and women’s empowerment in Sub-Saharan Africa. Washington, DC: World Bank. [Google Scholar] [Crossref]

• The Dynamic of Religious Pluralism and Cultural Identity in Rongmei Naga (Kabui) Society
• Effects of Social-Economic Empowerment of Teenage Mothers and Nurture Care. A Case of Kimbilio Hope Centre, Machakos, Kenya
• Gendering Caste and Casteing Gender: A Study of Social Sickness in Uma Chakravarti’s Gendering Caste: Through a Feminist Lens
• Counselling as Social Work for Women Empowerment in Akwa Ibom State: A Case Study of Ibiono Ibom Local Government Area. Implications for Counsellors
• Motherhood: Inclusion and Containment, A Case Study