Access to Finance and Funding Practice in Zambia
F.K.Musweu1, T.Velmurugan2, Leena Jenefa3
1F. K. Musweu, DMI- St. Eugene University, Zambia.
2T. Velmurugan, DMI- St. Eugene University, Zambia.
3Dr Leena Jenefa, DMI- St. Eugene University, Zambia.
Manuscript received on 05 December 2018 | Revised Manuscript received on 12 December 2018 | Manuscript Published on 26 December 2018 | PP: 419-422 | Volume-8 Issue- 2S2 December 2018 | Retrieval Number: ES2130017519/19©BEIESP
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open-access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: Access to finance is critical to the improvement of a country’s economy. Government and companies are in constant need of funding to produce and provide the most desirable consumer goods and services. This article focuses on the factors that have an impact on access to finance in Zambia. The article details the description of access to finance and the specific factors that have an impact on access to finance in Zambia namely Financial infrastructure, Credit reporting, Credit rating, The Payment and Settlement System, Small and Medium Scale Enterprises (SMEs), Mobile Banking, Agricultural and Rural Finance, gender and finance and Financial Capability. The details in this article is entirely collected through secondary research, specifically from scholarly articles banking and finance, various text books in banking and finance and journals from professional bodies. The paper is focused on the factors that have an impact on access to finance with emphasis on Zambian institutions, although general commentaries from various areas on the continent of Africa are also included in the article.
Keywords: Access to Finance, Agriculture and Rural Finance, Gender and Finance, Financial Capability, The Payment and Settlement System, Mobile Banking, Small and Medium Scale Enterprises, Credit Reporting, Credit Rating, Information Asymmetries.
Scope of the Article: Community Information Systems