Unlocking AI in Finance and Management: The Impact of Adoption on Small and Medium Enterprises Management in Zimbabwe

Abstract

Small and medium enterprises (SMEs) are central to economic growth, yet their viability in Sub-Saharan Africa is undermined by persistent financial and operational management challenges. These weaknesses manifest in stunted growth, poor decision-making, and deficiencies in reporting, limiting their contribution to national development. Globally, artificial intelligence (AI) is reshaping business management by providing technology-driven solutions to financial and operational constraints. Despite the availability of AI-powered tools, adoption among Zimbabwean SMEs remains uncertain. This study examines the level and impact of AI adoption on SME management in Zimbabwe. A systematic literature review guided by PRISMA was conducted, analysing peer-reviewed studies published between 2020 and 2025 across three databases. A final corpus of 51 studies was identified, including seven Zimbabwe-specific contributions and 44 international studies that strengthened the theoretical foundation. Thematic synthesis revealed five domains of impact: financial management, operational efficiency, customer engagement, market analysis and decision-making, and innovation for competitiveness. These findings informed the development of an original six-factor framework that maps strategic pathways through which AI adoption can transform SME management in volatile contexts. Unlike earlier models validated in advanced economies, this framework integrates structural constraints and institutional realities of Zimbabwe, offering a contextually grounded basis for predicting adoption outcomes. The study contributes to the literature on digital innovation in emerging economies and provides practical implications for SME leaders and policymakers seeking to enhance performance through strategic AI integration.

The authors' abstract, as published at the source. International Journal of Financial Studies, 2026 · DOI ↗