Abstract:
This research investigates the possible benefits and challenges that come with
financial inclusion for small and medium-sized enterprises (SMEs) in Botswana that
are owned by women. It focuses on three main research questions: firstly, the
challenges brought about by financial exclusion; secondly, the benefits of financial
inclusion for these enterprises; and thirdly, recommendations for addressing financial
exclusion challenges. The lived experiences and perspectives of female SME
owners who have experienced financial exclusion were captured through the use of
a phenomenological qualitative research approach. Data was collected through
semi-structured interviews, and thematic and narrative analysis methods were used.
The research utilised an inductive approach, making sure that the findings were
obtained straight from the collected data.
The results reveal insight of barriers that female business owners reported, like
gender biases and exclusive banking policies. Women stated the importance to
overcome these impediments in order to promote economic diversity and growth in
Botswana. The results also emphasise the importance of financial inclusion to these
business's existence and growth, to resolving cash flow issues, and lowering
unemployment. Further interrogation of the study results led to development of a
theoretical framework offering a strategic approach to addressing of women’s
financial exclusion. The approach proposes tactics like purposeful hiring in
government agencies, changing banking rules and gender audits. The framework
seeks to inform policy makers, service providers, financiers and female business
owners’ supporters in coming up with interventions advancing gender parity.
