Gender differences in financial inclusion amongst entrepreneurs in Zimbabwe

Using a large sample of micro, small and medium enterprises (MSMEs) data in Zimbabwe, this paper investigates gender gap prevalence in financial inclusion. It further assesses existence of gender heterogeneity in the returns to financial inclusion amongst MSMEs. We construct composite indices that measure the entrepreneurs' financial inclusion. Using Tobit and OLS regressions, we find statistically weak evidence of female financial exclusion in the formal financial sector after controlling for background characteristics and the industry of the entrepreneurs. On the other hand, female entrepreneurs are no less likely to be financially included in the informal financial markets than their male counterparts. Moreover, financial inclusion in informal financial markets by female entrepreneurs is associated with higher firm performance vis-A -vis their male counterparts.