Abstract:
Recent economic trend has recorded increasing adoption of digital technology in the world
of finance, yet the challenge of financial literacy and poor access to digital financial services
by women entrepreneurs in Nigeria continues to plague the entrepreneurial endeavors of
women, triggering a great concern to policy makers. Access to digital finance represents not
just a formidable opportunity but a crucial imperative in empowering women entrepreneurs,
therefore this research investigated the transformative potential of digital financial services
in improving the performance and empowerment of women entrepreneurs in Abuja
municipal area council (AMAC). The paper employed a descriptive research design based on
primary data, using survey questionnaires, targeted at three hundred and eighty-four (384)
respondents, and administered to both registered and unregistered women entrepreneurs.
Responses to questionnaires were collated and analyzed using the ordinal logistic regression
method to reveal a significant and beneficial correlation between the variables. The paper
confirmed that access to digital financial services (DFS) has a positive impact on the
performance and empowerment of female entrepreneurs as it provided crucial financial
tools, improved decision making and encouraged financial independence. Based on the
findings, the paper therefore recommended the implementation of specialized financial
solutions offering credit and savings products, robust digital infrastructure development
by the government, and advocacy for gender-responsive policies to further drive practical
changes for women entrepreneurs. The paper concluded by advocating a joint action to
promote women’s empowerment and economic growth by leveraging the transformative
power of digital financial services.
