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Administrative Sciences
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Women Financial Inclusion and Entrepreneurship Development
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Women Financial Inclusion and Entrepreneurship Development

A special issue of Administrative Sciences (ISSN 2076-3387). This special issue belongs to the section "Gender, Race and Diversity in Organizations".

Deadline for manuscript submissions: closed (22 August 2025) | Viewed by 6632

Special Issue Editors

Dr. Patrick Ebewo

E-Mail Website
Guest Editor
Centre for Entrepreneurship Development, Tshwane University of Technology, Pretoria 0183, South Africa
Interests: entrepreneurship; business
Dr. Motshedisi Sina Mathibe

E-Mail Website
Guest Editor
Gordon Institute of Business Science， University of Pretoria, Pretoria 0002, South Africa
Interests: women entrepreneurship; social entrepreneurship
Dr. Bridget Irene

E-Mail Website
Guest Editor
School of Leadership, Management and Marketing, Faculty of Business and Law, De Montfort University, Leicester, UK
Interests: women entrepreneurship; entrepreneurship education; women-owned businesses; small business strategy; family business; minority entrepreneurship; migrant entrepreneurship; women entrepreneurship in SSA
Dr. Elona Ndlovu

E-Mail Website
Guest Editor
SK Research, Oxford Business College, 65 George Street, Oxford OX1 2BQ, UK
Interests: entrepreneurial coaching; entrepreneurship education; self-efficacy
Dr. Kanayo Kingsley Ogujiuba

E-Mail Website
Guest Editor
Faculty of Economics, Development and Business Sciences, University of Mpumalanga, Mbombela 1200, South Africa
Interests: economic policy; entrepreneurship; public/social policy development
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

Women’s financial inclusion and entrepreneurship are central to advancing economic empowerment and gender equality globally (Cabeza-García et al., 2019; Mpofu, 2023; Chikwe et al., 2024). Despite progress in financial access, women entrepreneurs continue to face systemic barriers, including limited access to capital, financial literacy gaps, and restrictive legal frameworks (Coleman et al., 2019; Babar et al., 2023). This Special Issue seeks to address these challenges by examining financial inclusion strategies, innovative financing models, and policy reforms that empower women entrepreneurs.

Focus:

  1. The role of financial inclusion in fostering women’s entrepreneurship and economic independence.
  2. Policy and institutional frameworks that enhance women's access to financial services, credit, and capital.
  • Strategies to address gender-based barriers in financial markets, including digital financial inclusion and alternative financing models.

Scope:

  1. Women’s entrepreneurship and access to capital in diverse economic contexts.
  2. Digital financial services, fintech innovations, and inclusive banking models.
  • Policy reforms that promote gender-responsive financial ecosystems.
  1. Financial literacy and capacity-building programmes for women entrepreneurs.
  2. Green economy entrepreneurship and sustainable financing for women-led businesses.

Purpose:

  1. To contribute to global discussions on women’s financial empowerment, aligning with G20 FIWE 2025 priorities.
  2. To provide research-based insights into scalable financial models and policy innovations.
  • To support policymakers, financial institutions, and development organisations in designing inclusive economic systems.

Relationship to Existing Literature

While existing studies highlight financial inclusion as a key driver of economic growth (Demirgüç-Kunt et al., 2022; World Bank, 2023; UN Women, 2023), there remains a need to explore how financial innovations—such as digital banking, microfinance, and venture capital—can be leveraged to support women entrepreneurs. Furthermore, the intersection of financial literacy, gender equity, and regulatory frameworks remains underexplored in the context of the evolving digital and green economies (Mpofu, 2023; John et al., 2025). This Special Issue aims to bridge these gaps by providing empirical and policy-oriented research on inclusive financial models and entrepreneurship-enabling ecosystems.

Submission Guidelines

This Special Issue is directly linked to the G20 FIWE 2025 Conference on Financial Inclusion and Women Empowerment, which will take place from 6 to 7 May 2025 in Sun City, South Africa. Co-hosted by the Department of Women, Youth, and Persons with Disabilities (DWYPD) and Tshwane University of Technology (TUT), the conference provides a global platform for academics, policymakers, and practitioners to advance discussions on financial inclusion, entrepreneurship, and gender equity.

Authors presenting at the conference are encouraged to submit extended versions of their research papers for consideration in this Special Issue. However, submissions are not limited to conference participants—scholars, practitioners, and experts engaged in financial inclusion and women’s empowerment are invited to contribute.

This Special Issue will capture the conference’s academic and policy-driven insights, ensuring that discussions translate into published research that informs global strategies for financial inclusion and gender-responsive entrepreneurship.

References

Babar, Z. N., Al Sulaiti, K., Aldereai, O., Abbas, J., & Al Sulaiti, I. (2023). Financial inclusion, leadership abilities, family support, and country of origin effects empower female entrepreneurs. Journal of Excellence in Business Administration, 1(2), 39-63.

Cabeza-García, L., Del Brio, E. B., & Oscanoa-Victorio, M. L. (2019). Female financial inclusion and its impacts on inclusive economic development. In Women's Studies International Forum (Vol. 77, p. 102300). Pergamon. https://doi.org/10.1016/j.wsif.2019.102300Get rights and content

Chikwe, C. F., Kuteesa, C. F., & Ediae, A. A. (2024). Gender equality advocacy and socio-economic inclusion: A comparative study of community-based approaches in promoting women’s empowerment and economic resilience (2022). International Journal of Scientific Research Updates, 8(2), 110-121. https://doi.org/10.53430/ijsru.2024.8.2.0066

Coleman, S., Henry, C., Orser, B., Foss, L., & Welter, F. (2019). Policy support for women entrepreneurs’ access to financial capital: Evidence from Canada, Germany, Ireland, Norway, and the United States. Journal of Small Business Management, 57, 296-322. http://dx.doi.org/10.1111/jsbm.12473

Demirgüç-Kunt, A., Klapper, L., Singer, D., & Ansar, S. (2022). The Global Findex Database 2021: Financial Inclusion, Digital Payments, and Resilience in the Age of COVID-19. World Bank Publications. https://www.worldbank.org/en/publication/globalfindex/Report 

John, H. B., Agrawal, M., Nema, P., Hasan, A., Rakhra, I. K., & Singh, A. (2025). Green growth: a bibliometric analysis of digital innovation and Sustainable Development Goals (SDGs). Journal of Innovation and Entrepreneurship, 14(1), 15. http://dx.doi.org/10.1186/s13731-025-00473-0

Mpofu, F. Y. (2023). Gender disparity and digital financial inclusion in advancing the attainment of sustainable development goals in developing countries. International Journal of Innovation in Management, Economics and Social Sciences, 3(3), 49-70. http://dx.doi.org/10.59615/ijimes.3.3.49 

UN Women. (2023). Progress on the Sustainable Development Goals: Gender Snapshot 2023. United Nations.

World Bank. (2023). Women, Business and the Law 2023: Removing Legal Barriers to Women’s Economic Inclusion. World Bank

Dr. Patrick Ebewo
Dr. Motshedisi Sina Mathibe
Dr. Bridget Irene
Dr. Elona Ndlovu
Dr. Kanayo Kingsley Ogujiuba
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a double-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Administrative Sciences is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1600 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • financial inclusion
  • access to funding
  • financial education
  • entrepreneurship ecosystem
  • women empowerment
  • G20 South Africa
  • women entrepreneurship
  • green economy
  • entrepreneurship development

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Further information on MDPI's Special Issue policies can be found here.

Published Papers (6 papers)

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Research

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15 pages, 805 KB  
Article
Exploring Funding Options for Female Entrepreneurs in Rural Areas in South Africa
by Sonia Vorster and Sebonkile Cynthia Thaba
Adm. Sci. 2025, 15(10), 375; https://doi.org/10.3390/admsci15100375 - 23 Sep 2025
Viewed by 599
Abstract
Women entrepreneurs in rural South Africa face structural and socio-cultural barriers in accessing funding. This study investigated how existing financial structures and support programs influence the sustainability and growth of female-owned businesses in rural areas. Using bibliometric analysis and sentiment mapping with ATLAS.ti, [...] Read more.
Women entrepreneurs in rural South Africa face structural and socio-cultural barriers in accessing funding. This study investigated how existing financial structures and support programs influence the sustainability and growth of female-owned businesses in rural areas. Using bibliometric analysis and sentiment mapping with ATLAS.ti, 36 documents were analyzed from a screened pool of 613, focusing on keywords, titles, and abstracts. Results reveal that over 65% of documents reflect themes of discrimination and systemic financial exclusion. Findings show that while government initiatives and non-governmental organizations’ (NGOs) efforts (e.g., Department of Small Business Development (DSBD Women’s Development Business, (WDB) are making strides, challenges, such as collateral requirements, limited financial literacy, and infrastructure gaps, persist. The originality of this research lies in its hybrid methodological approach and the emphasis on rural-centric funding misalignments. The study contributes to policy dialogues by recommending tailored financial products co-designed with rural women, improved outreach programs, and integration of gender-sensitive financing mechanisms. It also lays a foundation for further empirical studies on institutional responses to female entrepreneurship in marginal communities. This study applied a novel hybrid method, combining bibliometric analysis with sentiment mapping using ATLAS.ti to uncover both systemic patterns and discursive trends. Its policy relevance lies in offering evidence-based recommendations that align with G20 strategies on gender equity and financial inclusion. Full article
(This article belongs to the Special Issue Women Financial Inclusion and Entrepreneurship Development)
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38 pages, 971 KB  
Article
Does It Matter? Experimental Evidence on the (Signaling) Effect of Gender-Specific Accelerator Programs on Access to Angel Capital
by Elfi M. Lange, Isabel Schulze and Karina Sopp
Adm. Sci. 2025, 15(9), 366; https://doi.org/10.3390/admsci15090366 - 16 Sep 2025
Viewed by 1007
Abstract
Despite the acknowledged importance of capital for start-up success, gender disparities persist when trying to raise funds from external sources, including angel investors, venture capitalists, and financial institutions. Many studies have shown that gender stereotypes are harmful and prevent women from gaining access [...] Read more.
Despite the acknowledged importance of capital for start-up success, gender disparities persist when trying to raise funds from external sources, including angel investors, venture capitalists, and financial institutions. Many studies have shown that gender stereotypes are harmful and prevent women from gaining access to resources, e.g., capital, distorting their start-up valuations, and influencing the resulting financing decisions. In recent years, gender-specific support measures have emerged that attempt to overcome gender inequalities in early-stage entrepreneurship, including gender-specific accelerator programs. However, there remains a lack of research on the effects of these gender-specific support programs. This study therefore investigates the influence of participating in gender-specific accelerator programs on access to angel capital, as a highly relevant source for the early financing of (women-founded) start-ups, considering signaling theory and its influence by the role congruity theory in an entrepreneurial context. A laboratory experiment involving 227 participants was conducted to explore these dynamics, reflecting perceptions of signals for angel investors. Overall, the findings suggest that gender-specific accelerator programs may positively influence perceived investment decisions by enhancing perceived team competence. Furthermore, investor gender moderates the perception of team competence. The signaling effect that (gender-specific) accelerators have on angel investors does not appear to be as great for men investors as it is for women investors. The findings contribute to signaling theory by understanding the impact of participation in (gender-specific) accelerator programs on the investment decision of angel investors while advocating for more inclusive approaches to fostering diversity and inclusivity within the start-up ecosystem. Full article
(This article belongs to the Special Issue Women Financial Inclusion and Entrepreneurship Development)
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24 pages, 1402 KB  
Article
The Role of Financial Institutions in Bridging the Financing Gap for Women Entrepreneurs in Sub-Saharan Africa
by Bridget Irene, Elona Ndlovu, Palesa Charlotte Felix-Faure, Zikhona Dlabatshana and Olapeju Ogunmokun
Adm. Sci. 2025, 15(8), 323; https://doi.org/10.3390/admsci15080323 - 15 Aug 2025
Cited by 1 | Viewed by 1728
Abstract
Small and Medium Enterprises (SMEs) are vital to economic growth, innovation, and job creation across Sub-Saharan Africa (SSA). Women entrepreneurs are key contributors to this sector, yet they face persistent barriers to accessing finance, which constrain their business growth and broader economic participation. [...] Read more.
Small and Medium Enterprises (SMEs) are vital to economic growth, innovation, and job creation across Sub-Saharan Africa (SSA). Women entrepreneurs are key contributors to this sector, yet they face persistent barriers to accessing finance, which constrain their business growth and broader economic participation. This study investigates the role of financial institutions in closing the financing gap for women-owned SMEs and assesses the effectiveness of various financing mechanisms, including traditional banking, micro-finance, fintech innovations, and government-backed credit schemes. Adopting a quantitative approach, this study utilises structured surveys with women SME owners across multiple SSA countries. Supplementary secondary data from sources such as the World Bank and national financial statistics provide additional context. Econometric modelling and Structural Equation Modelling (SEM) are employed to identify key factors influencing loan accessibility, such as collateral requirements, interest rates, financial literacy, and the regulatory environment. Findings reveal that high collateral demands and interest rates remain major obstacles, particularly for smaller or informal women-led enterprises. Financial literacy emerges as a critical enabler of access to credit. While fintech solutions and digital lending platforms show promise in improving access, issues around infrastructure, regulation, and trust persist. Government-backed schemes also contribute positively but are hindered by implementation inefficiencies. This study offers practical recommendations, including the need for harmonised regional credit reporting systems, gender-responsive policy frameworks, and targeted financial education. Strengthening digital infrastructure and regulatory support across SSA is essential to build inclusive, sustainable financial ecosystems that empower women entrepreneurs and drive regional development. Full article
(This article belongs to the Special Issue Women Financial Inclusion and Entrepreneurship Development)
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19 pages, 732 KB  
Article
Innovation and Resignification: Social Entrepreneurship for Reincorporating Women into Peace Communities
by Luz Elena Malagón-Castro, José Carlos Vázquez-Parra, Gloria Clemencia Valencia-González and Luis Guillermo Restrepo-Jaramillo
Adm. Sci. 2025, 15(7), 245; https://doi.org/10.3390/admsci15070245 - 25 Jun 2025
Viewed by 770
Abstract
Around the world, many post-conflict societies face the pressing challenge of reintegrating former combatants, especially women, into community life in ways that promote peace and sustainable development. Educational strategies that foster Social Innovation, Entrepreneurship, and Complex Thinking are increasingly recognized as essential tools [...] Read more.
Around the world, many post-conflict societies face the pressing challenge of reintegrating former combatants, especially women, into community life in ways that promote peace and sustainable development. Educational strategies that foster Social Innovation, Entrepreneurship, and Complex Thinking are increasingly recognized as essential tools in this process, helping to rebuild social cohesion and empower local leadership. This study evaluates the impact of the SEL4C methodology on strengthening key competencies in Social Entrepreneurship, Innovation, and Complex Thinking among 49 women signatories of the Peace Agreement in Colombia, who currently live in the Mariana Páez Territorial Training and Reincorporation Space (ETCR). Through a pre- and post-intervention design using validated instruments and statistical analyses (paired t-tests and effect size calculations), the study found significant improvements in areas such as Social Awareness, Social Innovation, and Scientific Thinking. Although the gains in Complex Thinking were moderate, the results show that the methodology effectively enhanced leadership skills and the ability to address systemic challenges—both crucial for successful reintegration. In practical terms, the findings support the use of SEL4C by organizations working in peacebuilding, educational institutions, and public programs that seek to empower women in vulnerable contexts. The methodology’s adaptability and evidence-based structure make it a valuable resource for designing participatory training processes focused on innovation, sustainability, and community transformation. Full article
(This article belongs to the Special Issue Women Financial Inclusion and Entrepreneurship Development)
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Review

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16 pages, 516 KB  
Review
Pathways to Business Financing in South Africa: Exploring Microloans, Venture Capital, and Gender-Responsive Grants
by Kanayo Ogujiuba, Kholofelo Makhubupetsi and Lethabo Maponya
Adm. Sci. 2025, 15(8), 319; https://doi.org/10.3390/admsci15080319 - 15 Aug 2025
Viewed by 960
Abstract
Business financing involves supplying funds or capital to initiate, expand, or maintain a business. This study investigates entrepreneurial funding in South Africa, emphasizing microloans, venture capital, and gender-sensitive grants as tools to facilitate inclusive business growth. Using a qualitative desktop research methodology, this [...] Read more.
Business financing involves supplying funds or capital to initiate, expand, or maintain a business. This study investigates entrepreneurial funding in South Africa, emphasizing microloans, venture capital, and gender-sensitive grants as tools to facilitate inclusive business growth. Using a qualitative desktop research methodology, this study relies on policy documents, institutional reports, and peer-reviewed studies to assess how these funding strategies tackle access barriers for marginalized populations, specifically women, youth, and rural entrepreneurs. Guided by Access to Finance Theory, Gender Finance Theory, and Innovation Ecosystems Theory, this study indicates that microloans offer immediate funding for informal businesses but show minimal long-term effects without additional assistance. Venture capital promotes rapid innovation, yet it is predominantly based in urban regions and unattainable for underrepresented populations. Grants that address gender issues foster equity but are obstructed by institutional fragmentation and insufficient scale. The results highlight the necessity for unified financing frameworks that merge financial and non-financial assistance, facilitating scalable and inclusive business ventures. Policy suggestions involve aligning public financing tools with the National Integrated Small Enterprise Development Masterplan, integrating gender-sensitive budgeting frameworks, and utilizing digital financial platforms to enhance access. Future studies should utilize mixed-methods or longitudinal approaches to assess the ongoing developmental effects of coordinated financing models within the South African setting. Full article
(This article belongs to the Special Issue Women Financial Inclusion and Entrepreneurship Development)
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Other

Jump to: Research, Review

40 pages, 2178 KB  
Systematic Review
Mapping Gender Pay Disparities in Chinese Finance: A Systematic Literature and Bibliometric Review
by Yunhao He and Marcus V. Goncalves
Adm. Sci. 2025, 15(9), 370; https://doi.org/10.3390/admsci15090370 - 18 Sep 2025
Viewed by 725
Abstract
Despite growing global concern, the gender pay gap (GPG) within China’s financial sector remains underexplored through systematic, data-driven approaches. This study presents one of the few, if not the only, systematic literature review (SLR) and bibliometric analyses focused on the GPG in this [...] Read more.
Despite growing global concern, the gender pay gap (GPG) within China’s financial sector remains underexplored through systematic, data-driven approaches. This study presents one of the few, if not the only, systematic literature review (SLR) and bibliometric analyses focused on the GPG in this context, aiming to map the intellectual landscape, thematic evolution, and policy relevance of the field. Peer-reviewed English-language articles published between 1975 and 2025 were retrieved from the Web of Science Core Collection, enabling international benchmarking and citation mapping. A three-tiered screening protocol narrowed 209 initial records to 64 eligible studies. Bibliometric tools, including VOSviewer and R Bibliometrix, were applied to visualize co-authorship and co-citation networks. The analysis revealed three dominant research clusters—salary transparency, organizational barriers, and leadership gaps—while identifying emerging intersections with FinTech, ESG, and intersectionality frameworks. Despite these trends, the findings indicate limited citation influence, thematic fragmentation, and weak scholarly integration. While the exclusion of Chinese-language literature is a limitation, it is justified for comparative consistency. Overall, this study demonstrates how combining bibliometrics with policy analysis uncovers underexplored “invisible metrics” that sustain gender disparities. It provides a foundational evidence base for future academic inquiry and actionable reforms aligned with SDG 5 and ESG mandates. Full article
(This article belongs to the Special Issue Women Financial Inclusion and Entrepreneurship Development)
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