Determinants of the probability of obtaining formal financial services in Tanzania
2013
Seluhinga, Nicetus Simon
Journal article
Show more [+] Less [-]Tanzania is among the poorest countries in the world. Like many other developing countries, the individual households’ access to formal financial services is very limited. The government has adopted series of economic reform measures since mid-1980s that include financial liberalization. The present study analyzed the determinants of individual access to formal financial services for livelihood sustainability in Tanzania. Data for the study were collected from various sources – both primary and secondary. Primary data were collected from the three districts whereby two wards were selected from each district. Secondary information was gathered from documentary sources as in the form of reports, records and review of literature. Results show that education, income and distance to formal financial service were significant and positive correlated to access of formal financial institutions in Tanzania as far as sustainable development is concerned. The study recommended the government and other stakeholders including individuals to provide education both formal and informal, improve the individuals’ income security through investing (micro enterprises) and opening more formal financial services nearby the community in order to enhance sustainable development.
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Bibliographic information
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