An Evaluation of the Task of the Task of Microfinance Institutions in Achieving Financial Inclusion in Zimbabwe a Case Study of Selected Microfinance Institutions in Mutare

This research explored the evaluation of the task of microfinance institutions in achieving financial inclusion in Zimbabwe, with regard to selected microfinance institutions. The issue at hand was that microfinance institutions are not promoting financial inclusion in the marginalized areas of Zimbabwe, thus, pouring the country in a sorry state, in relation to large masses of individuals who cannot access financial services formally. The primary goal was to investigate the role played by microfinance institutions in promoting financial inclusion campaign in the rural areas of Zimbabwe, taking into account their geographical expansion and increase in funding levels to marginalized individuals and small to medium enterprises. A stratified sampling approach was incorporated, where microfinance institutions were divided into strata based on their similar characteristics, and ten microfinance institutions operating in Mutare were selected. A sample size of 15 respondents, constituting of microfinance institutions' management was determined from the whole population. Data was collected through physical distribution of questionnaires and conduct of interviews at the selected microfinance institutions' branches. Rigid data analysis techniques were provided by IBM Statistics Version 20, guaranteeing the precision and dependability of the findings. The intercorrelation between financial inclusion and various dependent variables denoted in the findings was thoroughly conducted and interpreted. Tables, graphs and charts were also incorporated with regard to the presentation and evaluation of the findings. The results show that the microfinance sector is enhancing financial inclusion in Zimbabwe, despite the various challenges it encounters. The selected microfinance institutions ' management also denoted that the microfinance sector is expanding its financial inclusion campaign geographically, as well as increasing funding for marginalized individuals and small to medium enterprises. The surveyed microfinance institutions also denoted having programs to intensify and thrust implement financial inclusion campaign across the country. Furthermore, they also agreed that the government of Zimbabwe is creating a viable and ideal environment for microfinance institutions to operate swiftly with regard to expanding their financial inclusion campaign. Results also show that higher educated, formally employed individuals, males, the young population and urban residents are more likely to be incorporated as clients by microfinance service providers, thus, leaving rural and marginalized communities out of the financial inclusion picture. In conclusion of the research, microfinance institutions are thoroughly expanding and intensifying their financial inclusion efforts in rural areas, owing to their geographical expansion and increase in funding levels for the marginalized individuals and small to medium enterprises.

research questions, significance of the study, delimitations of the study, limitations of the study

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