This study examines Micro, Small, and Medium Enterprise (MSME) performance across Zimbabwe, South Africa, and Botswana using survey data from 1,161 businesses. The analysis focuses on owner income growth, employee salary structures, employment patterns, and access to financial assistance. The findings reveal substantial cross-country heterogeneity that challenges conventional assumptions about MSME financing. Zimbabwean MSME owners achieve the highest income growth (47.0 percent) despite having the smallest loan capacity (50,000 USD maximum), while Botswanan owners exhibit modest growth (8.0 percent) despite the largest loan capacity (1.11 million USD maximum). Employee salary growth is remarkably consistent across countries (29.5–32.5 percent), suggesting that government financial support programs benefit workers regardless of owner outcomes. Agriculture demonstrates the highest sectoral owner income growth (52.3 percent), and no statistically significant gender differences are found.
