Microfinance Impact on SME Performance In Mazar-e-Sharif, Afghanistan

This study examines the impact of microfinance services on the financial sustainability and performance of medium-sized enterprises (SMEs) in Mazar-e-Sharif, Afghanistan, using data from ۱۰۰ firms selected through systematic random sampling. The primary objective is to assess how microcredit access, savings services, and entrepreneurial development training affect return on assets (ROA) and financial sustainability (FS), while controlling for firm age and size. Data were collected via structured questionnaires administered to SME owners/managers, with reliability confirmed by Cronbach's alpha of ۰.۷۸۰ (N=۱۰۰ items) and content validity established through review by ۱۰ Afghan microfinance experts. Analysis employed descriptive statistics, Pearson correlation matrices, and multiple linear regression models following established SME research methodologies. The first regression model revealed that internal finance (β=۰.۰۱۲, t=۱۰.۷۸, p<۰.۰۰۱) and trade credit (β=۰.۰۰۸, t=۷.۲۳, p<۰.۰۰۱) significantly enhance ROA (R²=۰.۶۱, F=۲۴.۳۷, p<۰.۰۰۱), while non-institutional finance shows a negative effect (β=-۰.۱۳۰, p=۰.۰۱۷). The second model demonstrated strong positive impacts of microcredit (β=۰.۲۸۷, t=۵.۰۲, p<۰.۰۰۱), savings services (β=۰.۲۱۴, t=۳.۶۷, p=۰.۰۱), and entrepreneurial training (β=۰.۱۷۶, t=۳.۱۱, p=۰.۰۰۲) on financial sustainability (R²=۰.۶۵, Adj. R²=۰.۶۲, F=۲۸.۴۵, p<۰.۰۰۱), with larger/younger firms benefiting most. Nine of ten hypotheses were supported, underscoring microfinance's comprehensive role (financial + non-financial services) in fragile economies. Policy recommendations include government investment in energy infrastructure, transportation networks, and SME training programs to enhance competitiveness. These findings offer actionable insights for post-conflict development strategies.

کلیدواژه ها:

Microfinance ، SMEs ، Financial Sustainability ، Mazar-e-Sharif ، Multiple regression