The role of informal microfinance institutions in saving

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CHAPTER FOUR DATA PRESENTATION, DATA ANALYSIS AND MAIN FINDINGS 4.1.0 Introduction. The chapter attempts to analyze data generated from the study which include qualitative and quantitative information collected from groups of respondents. The groups of respondents were owners and managers of SACCOs as well as business support organizations, researchers from research institutions and personnel from banks and finance development institutions. 4.1.1. RESULTS FROM QUESTIONNAIRES, INTERVIEWS, AND OBSERVATION METHODS. The instrument used for generation of the data analyzed which is the questionnaire was structured in a way as to elicit as much responses as possible on the business environment, research and development and finance. The questionnaires were distributed and retrieved from these groups of respondents for analysis. General questions which tried to identify the nature and activities of institutions or firms responding preceded the more informed questions targeting support measures to SACCOs. In all the categories of subject areas studied efforts were made to identify critical factors affecting support to SACCOs in addition to an assessment of attitude of SACCOs to those support institutions. The issue of Microfinance development policy as well as financial institutional framework established to support SACCOs were studied and analyzed under Sacco’s strategy. The analysis as responded in this chapter is structured as follows: • Reponses to questionnaires • Business environment • Research and Development support • Finance support services • Legal framework 178
4.1.2: Responses to Questionnaire. The study recognized the importance of determining the response rate in order to validate and justify the findings. 4.1.3: Business Environment. The environment in which SACCOs operates is very crucial for their growth and development as well as their contribution to the overall economic development of the country. Institutions and businesses interact daily at different levels. These range from direct contacts such as issuance of business licenses to much more indirect channels of government actions including effect of fiscal and monetary policies. The challenge of this study was to determine the perception of SACCOs of their operating environment and come up with strategies that will support SACCOs to grow and improve their performance within their domain of operations. The study therefore attempts to evaluate the legal framework, business regulation, Taxation, Microeconomic policy, business culture and infrastructure as they affect Sacco’s operations. Responses Rural Financial Institutions are the cornerstone of financing rural development and micro- enterprises in developing countries. Small farmers and the poor require the support of the rural financial institutions in order to finance their development programmes. In the words of Padmanabhan (1988: 10) ‘’Lack of economic growth was seen as a consequence of shortage of physical capital. A vicious cycle low capital, low incomes, low savings and consequent low capital seemed to be operating in rural areas. It was this thinking and reasoning of 1950’s which led to the mushrooming of specialized rural financial institutions .The logic of traditional rural credit financing based on the following assumptions; Assumptions related to saver /borrower behavior are that the rural poor can not save and therefore will not respond to saving incentives, and the farmers need cheap loans 179
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THE ROLE OF INFORMAL MICROFINANCE I
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DECRALATION I, Mwakajumilo, Stephen
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DEDICATION To Almighty God, to whom
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ACRONYMS AND ABBREVIATIONS AGOA = A
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TABLE OF CONTENTS Title Page I Abst
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2.2.7 The prospects of SACCOs in Ta
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CHAPTER 4 PRESENTATION AND DATA ANA
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TABLE 18B: Value of loan from SACCO
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To SACCOs, they (SACCOs) are also e
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micro projects, general entrepreneu
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which are viewed as not credit wort
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parts of Tanzania. They are member
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Cooperatives were introduced in Tan
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1.1.3: WHY IS THIS THESIS UNDERTAKE
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Cumulative Number of Number of Year
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Year Number of Members Value of Sha
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Year Percentage of Consumption of l
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• Bureaucratic constraints, lack
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6. To identify gaps/shortfalls (i.e
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economy with respect to the unhealt
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organizations, help members achieve
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The cooperative formula was then co
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savings and credit cooperatives tha
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Cameroon in its English-speaking ar
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Since they have appeared on the sce
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Tanzania was the first country in A
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Type / Name of institution Microfin
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enhancing loan recovery and improvi
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embarked on building links with Sac
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• Encouraging and supporting, thr
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This shows the true nature of a maj
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Savings mobilization The potential
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It has been argued that the formal
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It is suggested that governments, i
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Local Counterpart Local MF NGOs wor
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Local Counterpart Small Industrial
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Local Counterpart Program Amount Go
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• PROMOTION AND ROLE MODELS. Help
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(iii) The target group being foreig
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(iv) Existence of pressure of the M
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(c) Government should honor stakeho
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1.1.16: INCOME DISTRIBUTION Policie
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TABLE 8: Formal Sector Distribution
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percent households decreased from a
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Also the significance of this study
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loans to their respective members i
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• Having adequate and timely secr
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LITERATURE REVIEW 2.1.0: INTRODUCTI
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It further defines savings and cred
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from being influenced by individual
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Investment Guarantee Agency (MIGA)
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2.1.7: THE ROLE OF STOCK MARKET IN
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isk{Solnik 1974}. As a consequence
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• Access for New Firms- The prest
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of financial systems. The success o
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Mkwizu (1992) points out that Tanza
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(1994) conclude that this conservat
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areas. However, repayment schedules
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plus services (Aghion and Murdoch 2
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� Lack of appropriate and adequat
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savings of the community. Community
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ingenious entrepreneurs behind them
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Reforming the national small busine
Page 127 and 128: linkages based on both market and n
Page 129 and 130: combinations: private sector, gover
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Page 133 and 134: favorable rates and help keep finan
Page 135 and 136: The SACCOs, is a complex organizati
Page 137 and 138: 2.2.10.1: Advantages for the SACCOs
Page 139 and 140: 2.2.10.3 THE COMPARATIVE ANALYSIS B
Page 141 and 142: 2. The importance of savings in the
Page 143 and 144: Commercial Banks are like the other
Page 145 and 146: presence in carrying on the traditi
Page 147 and 148: A summary profile of selected NGOs
Page 149 and 150: (ii) Competitive Financial Environm
Page 151 and 152: � Likewise, these institutions wi
Page 153 and 154: METHODOLOGY OF THE STUDY CHAPTER TH
Page 155 and 156: among variables such as the support
Page 157 and 158: • Checklist response • Rating a
Page 159 and 160: • What are the roles of instituti
Page 161 and 162: In each Region, a total of 20 SACCO
Page 163 and 164: 3.1.8: Data Processing The data res
Page 165 and 166: 3.1.12: Limitations • Difficult i
Page 167 and 168: Those students who are to write a M
Page 169 and 170: V. Generalizations and interpretati
Page 171 and 172: The method of collecting Primary an
Page 173 and 174: characteristics of participants, th
Page 175 and 176: How? Through experiment approach /g
Page 177: which the problem has got to be stu
Page 181 and 182: Outreach and Savings Mobilization
Page 183 and 184: iggest commercial city have more SA
Page 185 and 186: small farmers are most likely to sa
Page 187 and 188: 15 TPB … 16 TGT … 17 IFAD-Mbeya
Page 189 and 190: and bank balances which have been o
Page 191 and 192: However, operating income per total
Page 193 and 194: The Research Institutions in Tanzan
Page 195 and 196: microfinance services in both rural
Page 197 and 198: (xi) Do you inform SACCOs about you
Page 199 and 200: • Provide modern facilities and i
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Page 203 and 204: fact that their SACCOs serves all k
Page 205 and 206: What is more disturbing than the fa
Page 207 and 208: Year Real Private Disposable income
Page 209 and 210: Year Real Private Income Received b
Page 211 and 212: Model R R Squar e Adjusted R Square
Page 213 and 214: 213
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Page 217 and 218: CONCLUSION The performance of micro
Page 219 and 220: 5.14 Please list in the other impor
Page 221 and 222: Bank and other institutions engagin
Page 223 and 224: Table 18A: SITUATION FOR THE SACCOs
Page 225 and 226: Table 19: SITUATION FOR THE AUDITED
Page 227 and 228: (a) Specific Recommendations. The r
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APPENDIX E: QUESTIONNAIRES USED TO
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5.15 How have you been financing th
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Real Pinco RGD Rate Real GV Inv Dum
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In general, SACCOs in Tanzania have
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Finally, governments in Sub-Saharan
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5.3.11 If the answer to 10.0 is “
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5.3: RECOMMENDATIONS OF THE STUDY (
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REFERENCES: Ally M.Kimario, Marketi
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Working paper number 466, IDS, Univ
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