AN ANALYSIS OF THE ROLE OF MICROFINANCE IN PROMOTING

FINANCIAL INCLUSION IN ZIMBABWE

CHAPTER THREE : RESEARCH METHODOLOGY

INTRODUCTION
This chapter will outline the methods that were used in the research of the topic, ‘An analysis
of the role of microfinance in promoting financial inclusion in Zimbabwe ‘. This chapter will
include the research design, research instruments and the data collection methods.

RESEARCH DESIGN
According to Yashi Jain,(2023) research design is defined by experts as the glue that sticks
the research project together which helps to provide a structure and direction. Research
design helps to bring out the aim of the research objectives. It outlines the type of research
being conducted and for this study quantitative methods were used.

RESEARCH POPULATION
Osikhotsali Momoh (2023 investopedia) refers to population as the number of people where a
statistical sample is taken from for a study. In terms of this study the research population will
include the number of microfinance institutions as well as the customers. According to thee
RBZ (2022) there are currently 328678 number of active clients for MFIs in Zimbabwe.
Therefore, this study used this fugure as the target population with the inclusive of MFI
employees from deposit taking MFIs to have a clear analysis and responses to everyone
regarding the impact of microfinance in promoting financial inclusion. Hence having both the
clients and the providers was justified because it gives us results from both parties to avoid
biases and manipulation.
SAMPLE SIZE
To determine the appropriate sample size the researcher used the Raosoft sample size

calculator, developed by raosoft inc, displayed in figure 3.1 below. The diagram in the figure
indicates that a population of 328678 elements necessitates a minimum recommended sample
size of 97. And then 8 employees from 8 deposit taking microfinance that we have in
zimabwe to make a total sample size of 105
 source: raosoft inc (2023)

RESEARCH INSTRUMENTS

DiscoverPhDs (2020) defined research instruments as any tool that is used to collect, measure
and analyse data that is used in a research. They went on to explain that a good research
instrument is one that is reliable, valid and that is not biased. The Instrument used in this
study was a structured questionnaire that only contained closed-ended questions. An
introduction letter to the respondents preceded the questionnaire, which can be found in
Appendix A.

QUESTIONNAIRES
According to Saul Mcleod,PhD (2023) defined a questionnaire as a research instrument with
a series of questions to gather information from respondents. In terms of this study structured
questions were prepared and used to gather information from microfinance providers as well
as the customers. Questionnaires helps gather information in a short period of time and it
brings along accurate information that has not been tempered with.

These questionnaires brings information that can be measured statically to get accurate
research findings from various sources of people. The research findings of this research will
be as a result of the information or data that has been gathered from the questionnaires. For
the purpose of this research the research instrument that was used was the use of
questionnaires. Questionnaires were used because that was seen as the appropriate way to
gather as much data as possible in order to see if microfinance is indeed promoting financial
inclusion in Zimbabwe. The study employed questionnaires to collect data for several
reasons. Firstly, they are cost-effective to create and distribute to a large sample, unlike
interviews. Secondly, questionnaires save time as multiple respondents can be reached
simultaneously. As MFIs are in close proximity, the data collection period for this study was
only five days. Lastly, structured questions are easy for respondents to complete, as they only
need to select the applicable options.

DATA COLLECTION METHOD

PRIMARY DATA
Data collection is the process that’s is used to gather information on a particular topic.
Primary data is information that is gathered directly from the first hand source, while
secondary data is data that is collected by someone else (Marta Costa, 2022). Primary data is
further divided into two categories namely quantitative and qualitative data. Quantitative data
can be measured while qualitative data can not be measured.
For this study’s research on ‘An analysis of the role of microfinance in promoting financial
inclusion in Zimbabwe ‘ primary data was used. The data collection method that was used
was first hand data from the sources. Since it was primary data collected which can be
measured the data collection method is also quantitative data. The primary data was collected
through the use of questionnaires.

VALIDITY AND RELIABILITY

Evelina Galaczi (2020) states that validity refers to whether a test measures what it aims to
measure. Reliability on the other hand is defined by Cambridge Dictionary as how accurate
something is considered to be. The data that is provided in this research is accurate meaning
it is reliable and valid enough to test the topic ‘ An analysis of the role of microfinance in
promoting financial inclusion in Zimbabwe ‘.The researcher took a number of steps to ensure
the validity and reliability of the questionnaires used to collect the data.

VALIDITY OF THE QUESTIONNAIRE

For an instrument to be regarded as valid, it must have the ability to measure its intended
purpose (Cresswell and Cresswell, 2021). To ensure the validity of the questionnaire, the
researcher conducted a pilot study with 8 DTMFIs customers from different commercial
banks who were the researcher's friends and were not part of the actual sample. The
researcher analyzed the responses from the pre-test and checked with the respondents to
determine if the questionnaires were measuring what they were meant to measure. Any errors
or flaws that were discovered during the pre-test were corrected to ensure that the
questionnaires aligned with the study objectives. The researcher also used straightforward
and concise questions to further guarantee the questionnaires' validity. Furthermore, the
questionnaires were developed with the aim of tackling the research objectives.

RELIABILITY OF THE QUESTIONNAIRE

The reliability of an instrument is determined by the consistency of its results (Cresswell and
Cresswell, 2021). To ensure consistency in data extraction, analysis, and interpretation, the
researcher standardized the design and instructions of the questionnaires. The researcher also
improved the reliability of the questionnaires by addressing any potential areas of concern
that were highlighted by the pilot respondents during the piloting process. Although the pilot
respondents were not included in the final sample, they still provided feedback that helped
improve the questionnaire's reliability.

ETHICAL CONSIDERATIONS

The researcher exhibited ethical behavior and remained attentive to any ethical concerns
throughout the investigation. To protect the anonymity of the respondents, the researcher
requested that they refrain from including personal identifying information on the forms.
Prior to agreeing to fill out the forms, the potential respondents received a clear explanation
of the research's purpose, and the researcher sought their permission. The respondents was
also informed by the researcher of their rights throughout the research process, including the
right to opt out of completing the forms due to any reason. The researcher did not manipulate
the gathered data to achieve predetermined outcomes.

SUMMARY
This chapter looked at the research methodology which was quantitative through the use of
questionnaires. The chapter also included research design, research instruments, population,
validity and reliability as well as ethical considerations. The following chapter will be about
data analysis and the presentation of the data.