Understanding the Long-Term Sustainability and Success Rate of Women Financing Programs in Gambia: The Case of Reliance Financial Services

Jobe, Badou (2024) Understanding the Long-Term Sustainability and Success Rate of Women Financing Programs in Gambia: The Case of Reliance Financial Services. Masters thesis, Tunku Abdul Rahman University of Management and Technology.

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Abstract

This study explores the long-term sustainability and success of women financing programs in The Gambia, focusing on Reliance Financial Services. The research aims to understand how risk and cost management, technological innovation, and the nature of success or failure of business outcomes of women entrepreneurs influence program effectiveness, it addresses three main research questions: How do MFIs' risk and cost management practices affect women financing programs? To what extent do technological innovations enhance program success? and What factors determine the success or failure of women-owned enterprises within these programs? Using a qualitative research method, case study approach with in-depth interviews, Researcher’s Diary Analysis, company data analysis, and the Dynamic Capability Framework, this research highlights how risk management practices, such as flexible loan terms and capacity-building initiatives, help mitigate financial risks. It also evaluates the role of digital tools in improving service delivery and financial literacy, which are crucial for the growth of women-led businesses. Findings indicate that limited technological adoption by MFIs constrains access to broader financial tools and markets, while post-startup challenges like market access and management skills hinder long-term success for women entrepreneurs. The study offers recommendations for tailored financial products, expanded training, digital tracking tools, and peer support networks to create a resilient environment for women entrepreneurs in The Gambia. Limitations include its geographic focus and reliance on a single MFI, which may restrict broader applicability. Future research should explore policy and social factors, and examine sector-specific financing needs to better support diverse groups of women entrepreneurs.