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FinScope Tanzania 2013 Approach and methodology overview Stakeholder meeting 08 May 2013

FinScope Tanzania 2013 Approach and methodology overview Stakeholder meeting 08 May 2013 Irma Grundling Yakini Development Consulting. Developed by FinMark Trust Not-for-profit organisation “Making financial markets work for the poor”

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FinScope Tanzania 2013 Approach and methodology overview Stakeholder meeting 08 May 2013

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  1. FinScope Tanzania 2013 Approach and methodology overview Stakeholder meeting 08 May 2013 Irma Grundling Yakini Development Consulting

  2. Developed by FinMark Trust • Not-for-profit organisation • “Making financial markets work for the poor” • FinScope developed as research tool to provide information • Consumer survey in 15 countries in Africa • SMME survey in 6 countries in Africa • Implemented in Tanzania in 2006 and 2009 • Consumer survey • Representative survey of individuals 16 years or older • How do they generate money? • How do they manage their money? About FinScope

  3. To determine levels of access to financial services • To describe the landscape of access • To identify the drivers of, and barriers to financial access • To assess trends/change over time • To assess the impact of interventions over time • To assess the gap between demand for- and supply of financial services FinScope objectives

  4. Dialogue amongst stakeholders • General understanding of current status - stakeholders speak the same language • Impact of interventions: What worked? What did not work? • Private sector: Product innovation • Public sector: Policy regulation and a conducive environment Intended outcomes

  5. Benchmark for fin inclusion by government – Ministry of Finance, BoT • Banks – NMB, CRDB, Equity, YOSEFO • Informal systems – like Care, Aga Khan • Development partners • Researchers – ESRF, REPOA • Academics –Sokoine University of Agriculture • Mobile network operators Are stakeholders using FinScope?

  6. BOT Target: 50% formal financial inclusion by 2016 • Is this realistic? • How have we progressed since 2009? • What barriers are the excluded still facing? • Where/what are the market opportunities? FinScope 2013 FinScope 2013

  7. Funding, facilitation: FSDT • Technical Assistance: Yakini Development Consulting Technical Committee (TC) • Coordination: DPC • Fieldwork: Research house TC currently in the process of evaluation of bids after tender process • Analysis of key findings: Yakini (has been involved in more than 20 FinScope surveys) Implementing process

  8. Input into questionnaire – make the survey relevant • Reference group / sounding board • Topline/initial findings presentation • Interpretation and input before dissemination to ensure contextual understanding • Key messages for dissemination • INFORMATION to ACTION – facilitate change Role of the SC

  9. Key role player • Understanding of sample requirements • Understanding of the country context • Comparability with census data and relevant surveys • Quality control – research house data collection • Providing the sampling frame and weights for the data • Validating the weighted survey findings Role of NBS & OCGS

  10. Representativeness at national, urban-rural and regional levels • Sample of approximately 8000 interviews • Three- stage sampling approach • Geographically representative - representative sample of enumeration areas - 800 • HH representative - within sampled enumeration areas – systematic sample of households - 10 • Listing to be conducted • Individually representative - within each sampled household – random sampling of one individual 16+ Methodology FinScope 2013

  11. What questions we put in the questionnaire and how we analyse the data depends on the questions we want to answer with regard to financial inclusion • These questions depend on: • what we want to achieve with financial inclusion • how we define financial inclusion STEP 1 – Questionnaire design

  12. Regular use of financial tools and payment platforms to manage cash flows and mitigate shocks • Formal service providers providing a range of appropriate services and infrastructure • Dignity and fairness Demand Supply Protected consumer BoT definition of financial inclusion

  13. Increased access • Proximity • Eligibility / KYC requirements • Increased uptake • Appropriate products • Appropriate infrastructure/technology/channels • Informed and financially capable consumers • Increased usage • Quality of service (meet needs / fair / dignity) To increase inclusion - what are the enablers?

  14. Financial inclusion Do consumers have access? Dimensions of Inclusion Do they have physical access? Do they meet product/service requirements? Do Tanzanian adults take up services?/have accounts? Payments/savings/borrowing/remittance/protection against shocks Who doesn’t? If they don’t Why not? Why did they drop out? Did they have it before? If they did Who does? If they do Which products/services? Direct/indirect? If they do Channel? Do they actually USE the products they take up? Who doesn’t? If they don’t Why not? ACCESS, UPTAKE & USAGE measurement through FinScope

  15. Individual context Strategies • Income generating activities • Role of money • (Financial activities/tasks) • Coping strategies RISKS Community/ Environment Household Individual What they have What they do with what they have What drives the behaviour of the individual?

  16. Characteristics of Tanzanian adults Financial inclusion Determinants of Inclusion Characteristics of Tanzanian households Characteristics of Tanzanian communities Do consumers have access? Dimensions of Inclusion Do they have physical access? Do they meet product/service requirements? Do Tanzanian adults take up services?/have accounts? Who doesn’t? If they don’t Why not? Why did they drop out? Did they have it before? If they did Who does? If they do Which products/services? Direct/indirect? If they do Channel? Do they actually USE the products they take up? Who doesn’t? If they don’t Why not? Framework of analysis for FinScope

  17. Supply-side data enables “access-analysis”

  18. List of regulated financial institutions – type and location • Commercial banks • Other formal non-bank institutions • MFIs, insurance companies • SACCOs • List of financial products – requirements & costs • Savings/Investments – long term (incl. pension and annuity products) and short term • Credit – secured and unsecured • Transactional – transmission and current accounts • Insurance – long term and short term (incl. credit life) What kind of supply-side data do we need?

  19. FinScope 2013 data will be available in the public domain – your participation ensures its value Thank you!

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