The primary challenge of microfinance is that it offers unsecured financial services,
primarily in order to assist low-income households. In the twenty-first century, the
focus on expansion and outreach by microfinance institutions has been accompanied
by crises and failures, mainly due to risk. Risk management is therefore a crucial
concern for microfinance institutions. Currently, only a limited number of studies have
been done on risk management in Ethiopia, the majority of which are master's theses
that focus primarily on selected microfinance institutions and operational-level risk
categories. Too far, few or no studies have explored the function of risk management
foundations in risk management framework.
By using a methodological triangulation approach, this study examines the risk
management strategies and frameworks of Ethiopian microfinance institutions. Using
a sequential explanatory mixed methods research design, 610 respondents from 20
microfinance institutions and 15 interviewees who are senior officials and experts in
the microfinance industry were surveyed. Structural equation modelling (SEM) with
AMOS version 23 and SPSS Statistics 26 were employed as the analytical models.
AMOS was used for confirmatory factor analysis and path analysis, while SPSS was
used for descriptive analysis and exploratory factor analysis. Confirmatory factor
analysis was utilised to assess the reliability and validity of the conceptual model;
SEM, in conjunction with multi-group analysis, was used to test the model’s
hypotheses.
All variables, including risk culture, board effectiveness, internal controls, and internal
audit, have a positive and significant effect on risk management performance. In
addition, the study uncovered the moderating effect of microfinance institution
ownership structure on the connection between exogenous dimensions (risk culture, board effectiveness, internal control, and internal audit) and endogenous dimensions
(risk management performance). The result demonstrated that ownership structure
has a moderating effect on the association between exogenous constructs (risk culture
and board) and endogenous construct (risk management performance).
The study further uncovered a significant indirect effect of internal audit on risk
management performance through the partial mediation of internal control
The findings suggest that foundational aspects like risk culture, board effectiveness,
internal control, and internal audit are crucial to consider in MFI’s risk management.
The study contributes to existing literature by providing empirical data on the model
under consideration, as well as providing a number of significant theoretical and
practical implications of the research.
Kgwetlho e kgolo ya ditirelopotlana tsa ditšhelete e mo go thuseng malapa a a nang
le lotseno le le kwa tlase ka go a neela ditirelo tse di se nang tshireletsotlotlo tsa
ditšhelete. Mo seemong seno, ntlha ya taolo ya matshosetsi e tswelela go nna maleba
thata. Fa e sale go tloga ka tshimologo ya ngwagakgolo ono, kgolo le tlamelo ya
ditirelo tsa ditheo tsa ditirelopotlana tsa ditšhelete (di-MFI) di tsamaya mmogo le
mathata le go palelwa go go amanang le matshosetsi, mme seno se dira gore taolo
ya matshosetsi e nne botlhokwa thata mo ditheong tseno. Go dirilwe dithutopatlisiso
di le mmalwa fela ka ga taolo ya matshosetsi kwa Ethiopia, ntle le ditlhotlhomiso di le
mmalwa tsa maemothuto a mmasetase tse go le gantsi di tsepamisang mo ditheong
tse di rileng tsa ditirelopotlana tsa ditšhelete le mo ditlhopheng tsa matshosetsi a a mo
maemong a tiriso le tiragatso. Ke dithutopatlisiso di le mmalwa kgotsa ga go na
dithutopatlisiso dipe tse di ikaegileng ka maitemogelo a mmatota tse di batlisitseng tiro
ya metheo ya taolo ya matshosetsi e e mo teng ga letlhomeso la taolo ya matshosetsi.
Thutopatlisiso eno e lekotse mekgwatiriso ya taolo ya matshosetsi le matlhomeso a
di-MFI tsa Ethiopia, go dirisiwa mekgwa e mentsi ya go bapisa tshedimosetso e e
kgobokanngwang le go sekasekiwa ka go dirisa netefatso ya tshedimosetso e e
dirwang ka go bapisa metswedi ya yone. Ka ntlha ya seo, baikarabedi ba le 610 go
tswa mo ba le 20 le batlhankedi-bagolwane ba le 15 le baitseanape ba MFI ba
boditswe dipotso go dirisiwa mokgwa o go dirisiwang dikgato tse di latelanang go
kgobokanya le go sekaseka tshedimosetso. Mo dikaong tsa tshekatsheko tse di
dirisitsweng, go akareditswe Sekao sa Tshekatsheko ya Kamano fa gare ga
Ditlhotlhomisiwa (SEM), ka tiriso ya AMOS v. 23 mo tshekatshekong ya tlhomamiso
ya nepagalo ya dikamano (CFA) le tshekatsheko ya tlhotlheletsano ya ditlhotlhomisiwa
mo kamanong ya tsone, fa go dirisitswe SPSS v. 26 mo tshekatshekong e e fokotsang
tshedimosetso e e tlhalosang le e e batlisisang sengwe se se rileng gore e
tlhaloganyesege. Go dirisitswe CFA go tlhatlhoba boikanyego le nepagalo ya sekao
se se ka ga kgopolo nngwe, fa go dirisitswe SEM le tshekatsheko ya ditlhophantsi go
dira teko ya ditshitsinyo tsa sekao. Go fitlhetswe gore tiro ya taolo ya matshosetsi e
amiwa ka tsela e e siameng le ya botlhokwa ke dikarolwana tsotlhe, go akaretsa
megopolo le maitshwaro a a matshosetsi, boto ya MFI, taolo ya yone ya ka fa gare le
boruni jwa ka fa gare. Mo godimo ga moo, go fitlhetswe fa thulaganyo ya go nna mong
wa MFI e sekaseka kamano fa gare ga dikakanyo tse di ikaegileng ka mabaka a kwa
ntle (megopolo le maitshwaro a a matshosetsi, boto, taolo ya ka fa gare le boruni jwa
ka fa gare) le kakanyo ya ka fa gare (tiro ya taolo ya matshosetsi). Tshekatsheko ya
kamano e senotse gore thulaganyo ya go nna mong e sekasekile fela kamano fa gare
ga dikakanyo tse di ikaegileng ka mabaka a kwa ntle tsa megopolo le maitshwaro a a
kotsi le boto, le kakanyo ya ka fa gare ya tiro ya taolo ya matshosetsi. Diphitlhelelo
tseno di supa gore go botlhokwa go akanyetsa dikarolwana tsa motheo tse di jaaka
megopolo le maitshwaro a a matshosetsi, boto, taolo ya ka fa gare le boruni jwa ka fa
gare fa go dirwa taolo ya matshosetsi a MFI. Tiro e na le seabe mo tshedimosetsong
le kitso e e maleba mo porofešeneng e e rileng ka go neela deitha ya mmatota ka ga
sekao se se tlhatlhobiwang, mo godimo ga go lemoga ditlamorago di le mmalwa tsa
botlhokwa tsa tiori le tiragatso.
Inselela enkulu yezezimali ezincane isekusizeni amakhaya ahola kancane
ngokuhlinzeka ngezinsizakalo zezezimali ezingavikelekile. Kulo mongo, udaba
lokulawulwa kobungozi luya ngokuya lubaluleka. Kusukela ekuqaleni kwaleli
khulunyaka, ukwanda kanye nokufinyelela ezikhungweni zezimali ezincane (ama-
MFIs) kuhambisane nezinkinga ezihambisana nobungozi kanye nokwehluleka,
okunikeza ukulawulwa kobungozi kubaluleke kakhulu kulezi zinkampani. Kuye
kwenziwa ucwaningo olulinganiselwe ekulawuleni ubungozi e-Ethiopia, ngaphandle
kwemibhalo yeziqu zobumpetha ezimbalwa ezigxile kakhulu ezinkampanini ezincane
zezimali ezikhethiwe kanye nezigaba zobungozi ezisezingeni lokusebenza. Zimbalwa
noma azikho izifundo ezicwaningayo eziphenye umsebenzi wezisekelo zokulawula
ubungozi ngaphakathi kohlaka lokulawula ubungozi. Lolu cwaningo luhlole amasu
okulawula ubungozi kanye nezinhlaka ze-Ethiopian MFIs, kusetshenziswa izindlela
ezingunxantathu. Ukuze kufezeke lokho, abaphenduli abangu-610 bezikhulu
eziphezulu ezingu-20 kanye ne-15 kanye nochwepheshe be-MFI babuzwa imibuzo
kusetshenziswa indlela yokulandelana exubile. Izifanekiso zokuhlaziya
zisetshenzisiwe, zihlanganisa Isifanekiso Sokuhlola Okuguquguqukayo Okuningi
(SEM), kanti i-AMOS v. 23 isetshenziselwa ukuhlaziywa kwesici sokuqinisekisa (i-
CFA) nokuhlaziywa kwendlela, kuyilapho i-SPSS v. 26 isetshenziselwa ukuhlaziywa
kwezinto ezichazayo nezihlolayo.
I-CFA yaqashwa ukuze ihlole ukwethembeka nokuba semthethweni kwesifanekiso
somqondo, kuyilapho i-SEM nokuhlaziywa kwamaqembu amaningi
kwasetshenziselwa ukuhlola okucatshangwayo kwesifanekiso. Ukusebenza
kokulawulwa kobungozi kutholwe kukuhle futhi kuthinteke kakhulu kuzo zonke izici,
okubandakanya isiko lobungozi, ibhodi le-MFI, ukulawula kwayo kwangaphakathi
kanye nocwaningomabhuku lwangaphakathi. Ukwengeza, isakhiwo sobunikazi be-
MFI sitholakale silinganisa ubudlelwano phakathi kobukhulu bangaphandle (isiko
lengozi, ibhodi, ukulawula kwangaphakathi kanye nocwaningomabhuku
lwangaphakathi) kanye nokwakhiwa okungapheli (ukusebenza kokulawulwa
kobungozi). Ukuhlaziywa kokulinganisela kuveze ukuthi ukwakheka kobunikazi
kwengamele kuphela ubudlelwano phakathi kokwakhiwa kwangaphandle kwesiko
lengozi kanye nebhodi, kanye nokwakhiwa okungapheli kokusebenza kokulawulwa
kobungozi. Lokhu okutholakele kukhombisa ukuthi izingxenye eziyisisekelo ezifana
nesiko lobungozi, ibhodi, ukulawulwa kwangaphakathi kanye nocwaningomabhuku
lwangaphakathi kubalulekile ukuthi kubhekwe lapho kwenziwa ukulawulwa kobungozi
kwe-MFI. Umsebenzi unikela endikimbeni yolwazi ngokunikeza imininingwane
yangempela yesifanekiso ngaphansi kokuhlolwa, ngaphezu kokuhlonza inani
lemiphumela ebalulekile yombono nengokoqobo.
