The role of informal microfinance institutions in saving

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(iv) What are your comments on the factors that have made SACCOs to get achievements on of the level of loan recovery and reduce the number of loan defaulters?.......................................................................................... (v) What are your comments on the factors that hindered the SACCOs to achieve over and above expectations?.......................................................... (vi) What challenges and recommendations do you pose to SACCOs in order that the micro finance sustain in the current stiff competitions?..................... (vii) Provide any other useful information with regards to this topic…………….. 4.1.5: SUGGESTIONS ON IMPROVEMENT OF LEGAL FRAMEWORK FOR SACCOs DEVELOPMENT IN TANZANIA, • Reduce the bureaucracy in conduct of business in government/public institutions. • Judicially should be restricted to guarantee speedy legal process especially in settlement of commercial disputes. • Facilitate easy documentation and ensure urgent decision making process in the court system. • Reduce the existing bottlenecks and create the desired awareness of the legal procedures for doing business. • Improve on legal requirement for granting of loan especially that associated with collaterals. • Setting up of a committee comprising knowledgeable and experienced legal practitioner to develop proper legal framework for SACCOs. • Designate special courts to handle SACCO’s matters. 198
• Provide modern facilities and infrastructures for legal administration in order to enhance proceedings and judicial process in general. 4.1.6: Business Regulation. It is a common knowledge that entrepreneurs are governing conduct of businesses as well as the predictability of their implementation and frequency of changes. Few new businesses, the regulations for setting up an enterprise or new operations are important. It has been reported severally business regulations in Tanzania are complex, unpredictable and that low paid officials lead to corrupt practices. To evaluate the business regulations as it affects SACCOs, respondents were asked to indicate whether the business regulations are complex or not. Also, the structure of fees imposed on them at local level as well as its nature in terms of multiplicity was evaluated. The percentage of respondents who believed that business regulations are too complex was 47.5% compared to those with contrary opinion 8.1%. However, 43.7% feels that it is complex. Also, respondents were of the view that the fee structure is either fairly complex 30.3% or too complex (54.9%) depending on the locality. The fees charged by local administration are multiple (67.4%) and unpredictable (25.2%) because of revenue generation activities of the Two- tiers Government (local and central governments). More than half of the respondents (63.7%) agreed with the view that low-paid officials lead to corruption, while 26.6% disagreed. 4.1.7: Finance Support Services. Finance access has been realized as a major constraint for all SACCOs which can seriously affect the ability of a small industry to survive, expand markets, and improve manpower or productivity. The source of finance activities that observed for SACCOs is offered as loans. However, lack of collateral, fear of excessive debt burdens and the low profitability for banks in lending to SACCOs. 199
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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
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linkages based on both market and n
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combinations: private sector, gover
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Tanzania and most of its neighborin
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favorable rates and help keep finan
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The SACCOs, is a complex organizati
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2.2.10.1: Advantages for the SACCOs
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2.2.10.3 THE COMPARATIVE ANALYSIS B
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2. The importance of savings in the
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Commercial Banks are like the other
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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 and 178: which the problem has got to be stu
Page 179 and 180: 4.1.2: Responses to Questionnaire.
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: (xi) Do you inform SACCOs about you
Page 201 and 202: validate this observation by asking
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
Page 215 and 216: 215
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
Page 229 and 230: APPENDIX E: QUESTIONNAIRES USED TO
Page 231 and 232: 5.15 How have you been financing th
Page 233 and 234: Real Pinco RGD Rate Real GV Inv Dum
Page 235 and 236: In general, SACCOs in Tanzania have
Page 237 and 238: Finally, governments in Sub-Saharan
Page 239 and 240: 5.3.11 If the answer to 10.0 is “
Page 241 and 242: 5.3: RECOMMENDATIONS OF THE STUDY (
Page 243 and 244: REFERENCES: Ally M.Kimario, Marketi
Page 245: Working paper number 466, IDS, Univ
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