Sustainable Strategies for Directors of Microfinance Bank

The purpose of this phenomenological study was to explore strategies microfinance bank directors use to maintain business sustainability. The concepts of microfinance banking, sustainability value, and strategic management theory formed the conceptual framework for this study. Twenty leaders from microfinance banks in the Anambra state of Nigeria participated in semistructured interviews. The data analysis process involved the use of Moustakas’ modified van Kaam process, which resulted in the emergence of 3 themes: strategic management, fear of microlending, and maintaining sustainability. The outcome reinforced the necessity of a strategic management focus on the maintenance of sustainability, expansion of microlending services growth in microfinance banking knowledge, best practice implementations, savings mobilization, technological input, and expansion of microlending services.