Strategic leadership promote organizational strategic flexibility and enhance business
sustainability. Drawing on the theoretical lens of dynamic capability and contingency theory, a
framework of hypotheses is established that focuses on strategic flexibility, strategic leadership
and its implications on business sustainability. This research used surveys collected from
microfinance banks operating in Nigeria. The results show that strategic flexibility and strategic
leadership have a significant influence on business sustainability. Also, strategic flexibility and
strategic leadership significantly affect business sustainability indicators of economic, social,
environmental and innovation performance. Finally, we found that strategic leadership moderate
the effect of strategic flexibility on business sustainability and its indicators. Our findings clarify
the role that organisational capabilities (strategic flexibility and strategic leadership) play in
enhancing business sustainability, particularly in the emerging market context