This study assessed the role of microfinance in the growth of women-owned enterprises with special reference to Nyanga in the Manicaland Province of Zimbabwe. 100 entrepreneurs from the women-owned enterprises in Nyanga constituted the sample for this study. The study adopted the simple random sampling method which is a probability sampling technique. However, key informants were purposivesly selected. In order to answer the research questions, a questionnaire which had both open ended and closed ended questions was designed and administered to the sample which had a response rate of 91%. Both qualitative and quantitative methodologies were used in this study. A survey method and key informant interviews were the tools used to collect data. Findings from the study revealed that most of the women entrepreneurs in Nyanga were facing challenges in accessing microfinance services. These challenges include exorbitant interest rates, limited branches, collateral problems, short repayment periods and long waiting periods when accessing funding. Another notable finding was that microfinance institutions in the Nyanga area provide a portfolio of services which include insurance, financial advice, loans, transfers, savings, training and capacity building. The study also found that MFIs in Nyanga have empowered women entrepreneurs to a lesser extent as they have failed to improve their social and economic status.
Women-owned Enterprises, Microfinance, Survival, Growth, Nyanga
