Abstract

This study evaluates the effectiveness of the Financial Inclusion and Entrepreneurship Scaling (FInES) Project in supporting Small and Medium Enterprises (SMEs) in Malawi, with a focus on Lilongwe District. Launched in 2020 with support from the World Bank, the FInES Project seeks to enhance access to finance, build entrepreneurial capacity, and promote inclusive growth, particularly in the post-COVID-19 recovery period. The study adopted a qualitative, inductive research design using purposive sampling. Primary data were collected from 20 respondents, including SME beneficiaries, officials from the Reserve Bank of Malawi, and World Bank representatives. Semi-structured questionnaires were used, and data were analysed thematically to identify key patterns and insights. Findings indicate high general awareness of the project but limited understanding of application processes and fund utilization. While the project has exceeded inclusion targets for women and youth, evidence of sustained business impact is limited due to weak performance tracking, misuse of funds, and implementation challenges. The study concludes that although FInES has strong potential as a financial inclusion mechanism, its effectiveness is constrained by limited rural outreach and insufficient capacity building. It recommends improved communication, simplified access requirements, strengthened monitoring systems, and enhanced financial literacy support to maximize developmental impact.

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School	: Not specified
Issued Date	: 2026

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