Browsing by Author "Seluhinga, Nicetus Simon"

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    Evaluation of individual level access to formal financial services: a case study of Morogoro region Tanzania
    (Sokoine University of Agriculture, 2007) Seluhinga, Nicetus Simon
    This study was conducted to evaluate individual level access to formal financial services in Tanzania. The study entailed surveys conducted in three districts of Morogoro Region. Namely, Morogoro Municipality, Morogoro Rural and Kilosa. Specifically the study had four objectives which were (a) to describe the general issues as to why access to formal financial services is important to economic development and social perspectives.(b) to establish the proportion of adult population which have access to various types of formal financial services, (c) to identify socio economic factors that influence the access to formal financial services in the research area(d) to suggest the possible interventions for improvement of access to formal financial services. The study is based on 120 respondents. Multistage random sampling was employed to select interviewees in the study area. The data were coded and analyzed with the aid of Statistical Package for Social Sciences (SPSS) computer software. Data analysis entailed a number of descriptive statistics including frequencies, cross tabulations and Chi- square tests. A binary logit regression model, which tested the effects or influence of socio economic factors on access to formal financial services, was used. Results showed that socio economic factors such as age, income, education, occupation and distance to formal financial institutions affect the access and use of formal financial services (P< 0.05). The study has also revealed that savings services are popular therefore used by the majority of adult population, followed by transaction services, credit, then insurance services. In addition, the study found that cost of services, ignorance, low income were among the reasons mentioned by the respondents as hindering access to formal financial services in the research area. Based on the study findings, the study recommendsiii effective linkages between financial institutions in order to increase the proportion of people with financial access, capacity building to financial institutions, improving infrastructure, improving condition and quality of financial services and to offer finance education to the people.