Navigating Financial Challenges: A Systematic Review of Enablers for Women Entrepreneurs in South Africa

Access to finance is believed to be a key enabler that enhances women’s entrepreneurship and improves business performance, sustainability, and their empowerment. Despite its importance, scholarly literature has mentioned financial challenges as one of the factors that hinder women’s entrepreneurship success, not only in South Africa but also in other developing countries. There is, however, scant literature regarding the enablers that help women entrepreneurs navigate financial challenges in South Africa. To address this gap, this study conducted a systematic review of literature, where 21 documents drawn from Google Scholar, Scopus, and Google databases were used to identify the enablers that help women entrepreneurs navigate their financial challenges in businesses. Identified enablers that help women entrepreneurs navigate their financial challenges include stokvels, government finance programs, banks, Microfinance Institutions (MFIs), and financial education programs. The study shows how women entrepreneurs navigate financial gaps through informal networks, MFIs, and banks, while government support, institutional innovations, and tailored financial products promote sustainable business growth. The study also highlights the need for governments, banks, MFIs, universities, and NGOs to improve awareness, accessibility, gender-sensitive financial services, digital solutions, training, and mentorship for women entrepreneurs and, therefore, promote sustainable entrepreneurial growth.