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MICROFINANCE SERVICES Rethinking Financial Services

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. % . (1.9 . million) of .

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MICROFINANCE SERVICES Rethinking Financial Services






Presentation on theme: "MICROFINANCE SERVICES Rethinking Financial Services"— Presentation transcript:

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