Taking Stock of our achievements and forging the way forward ACCESS FRONTIER Given Current Products Opportunities for MFIs Where are the low hanging fruits Demand vs Supply 7 19 million of ID: 750361
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Slide1
MICROFINANCE SERVICES
Rethinking Financial Services
Taking Stock of our achievements and forging the way forwardSlide2
ACCESS FRONTIER
Given Current Products
Opportunities for MFIs
Where are the low hanging fruits?Slide3
Demand vs. SupplySlide4
7
%
(1.9
million) of
adults 16 years or older
have taken up MFIs
How many adult Tanzanians have taken up MFIs?Slide5
Demographics –
Who are
MFI users?Slide6
6 in 10 MFI users are male which have on average a higher level of education then the general populationSlide7
More than half of MFI users are youth, below 34 yearsSlide8
MFI users have a higher wealth status than the general populationSlide9
MFI users are more likely to be formally employed or business owners than their non-user counterpartsSlide10
One third of MFI clients are based in Dar es SalaamSlide11
MFI clients are more likely to be literate in both Kiswahili and EnglishSlide12
MFI clients have higher levels of numeracySlide13
97% of MFI clients own a mobile phoneSlide14
Why
Tanzanias
take up MFIs and how do they use them?Slide15
Three quarters of MFI clients started to use the service to obtain a loanSlide16
Access to loans is the dominant service feature of MFIsSlide17
3
in 10 MFI clients feel charges/interests are too high Slide18
14% of accounts are group accountsSlide19
3 in 10 accounts are inactiveSlide20
Though 97% of MFI clients own a phone only 22% utilize it to access their servicesSlide21
Repayment conditions are favorable to MFI clientsSlide22
Borrowing for reinvestment in business activities is a key driver for loan uptakeSlide23
Where is the opportunity?Slide24
8 in 10 currently not served by MFIs have a form of identificationSlide25
Proximity is a key challenge of MFIs
Though over half of registered MFIs are located in Dar es Salaam proximity is still a key challengeSlide26
% Uptake of Formal Services per
Formal Service ProviderSlide27
% Uptake of Formal Services per
Formal Service Provider:
Served (i.e. MFI/micro lender clients) vs. Unserved AdultsSlide28
MFI products are perceived to be costly and require a high initial deposit
Perceived demand side barriers
Perceived supply side barriers