The role of informal microfinance institutions in saving

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Table 20: AUDITED COOPERATIVES UP TO MAY, 2004 NO. REGION COOPERATIVE PERIOD 1. Kilimanjaro Kilimanjaro Native Co-operative Union ltd 2002/03 2. Mara Tarime Co-operative Union Ltd 2001/02 3. Mbeya 4. Kagera • Rungwe Co-operative Union Ltd • Chunya Tobacco Co-operative Ltd • Biharamulo Co-operative Union Ltd • Kagera Co-operative Union Ltd • Kagera District Co-operative Ltd 2002/03 2002 2001/02/03 2001/02/03 2001/02 5. Arusha Arusha Co-operative Union Ltd 2002/03 6. Mwanza Nyanza Co-operative Union Ltd 2001/02 7. Dar es Salaam 8. Rukwa • Tanzania Federation of Co-operative, • Savings and Credit Union League of Tanzania • Coast Region Co-operative Union Ltd Lake Tanganyika Tobacco Growers C0-operative Union Ltd Source: Ministry of Cooperatives and Marketing/ Coasco Table 21: TRADITIONAL EXPORT CROPS – TONE CROP 2000/2001 2001/2002 2002/2003 2003/2004 2001/02 2001/02 2002/03 2000/01 2001/02 2004/2005* Coffee 58,000 37,000 52,439 37,500 45,000 Cotton 123,589 148,142 188,690 139,756 216,000 Cash nuts 121,379 67,369 95,000 78,557 100,000 Tobacco 24,840 27,702 25,065 33,556 Tea 24,800 24,732 30,090 30,700 33,146 Sisal 19,909 22,960 23,641 23,859 25,000 Pyrethrum 1,850 1,900 979 649 1,000 * Approximately Source: Cooperative Bodies 226
(a) Specific Recommendations. The recommendations of this study are based on the specific objectives and research questions, and findings of this study. In view of these, the following are recommended: (a) More measures should be undertaken by Unions of SACCOs and the Government of Tanzania to increase more formation of SACCOs in rural areas where majority of Tanzania live. This should go hand in hand with measures aiming at increasing disposable income of rural community, so that they remain with enough income after allocation part of their income to consumption expenditures. (b) The Government of Tanzania in collaboration with financial institutions and SACCOs should take more measures which will ensure that more borrowed funds by SACCOs should be allocated to rural small scale agriculture and also to investment in shares of companies listed in the Dares-Salaam Stock Exchange in order to increase diversification of loaned Sacco’s funds. The Government of Tanzania through its Ministry of Agriculture and Cooperatives should establish measures which will lead to effective approaches of assessing variations of SACCO’s portfolio in Tanzania. This will thus effectively supplement the traditional methods of assessing SACCOs performance which are still practiced in Tanzania, such as number of members, number of loans issued, amount values of loans recovered etc which have proved ineffective to assess SACCOs performance in Tanzania. Measures should also be established whereby SACCOs will be in positions to examine, appraise and evaluate member’s micro projects financed by SACCO’s loans. This will bridge the current gap, whereby after borrowing; no any follow up measures are implemented by SACCOs to assess the performance of members’ projects financed by SACCO’s loans. This in turn has contributed to significant number of SACCOs borrowers to use the borrowed loans for the purposes not intended cashiers. Measures should be jointly undertaken by the Government of Tanzania, banks, pension funds, Capital market/Stock Exchange to and Union of SACCOs in Tanzania to enable SACCOs design new financial products which will suit different needs of SACCO’s members in both rural and urban areas of Tanzania. In turn this will facilitate SACCOs to play its primary role of assisting 227
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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
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A summary profile of selected NGOs
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(ii) Competitive Financial Environm
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� Likewise, these institutions wi
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METHODOLOGY OF THE STUDY CHAPTER TH
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among variables such as the support
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• Checklist response • Rating a
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• What are the roles of instituti
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In each Region, a total of 20 SACCO
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3.1.8: Data Processing The data res
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3.1.12: Limitations • Difficult i
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Those students who are to write a M
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V. Generalizations and interpretati
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The method of collecting Primary an
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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 and 198: (xi) Do you inform SACCOs about you
Page 199 and 200: • Provide modern facilities and i
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: Table 19: SITUATION FOR THE AUDITED
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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