Causes & Effects of Financial Exclusion in the Banking Sector: the case of Zimbabwe
The study sought to establish causes and effects of financial exclusion in Zimbabwe from 2009 to 2011 . The study adopted both descriptive and exploratory research designs owing to the qualitative and insightful nature of the study . A diverse sample of 200 comprising bank managers , the unbanked...
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| Language: | English |
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International Journals Of Multidisciplinary Research Academy
2022
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| Online Access: | https://cris.library.msu.ac.zw//handle/11408/5332 http://www.ijmra.us |
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| author | Wilson Nyarugwe Gabriel Maibvisira Florence Mudzurandende |
| author2 | Branch Manager at Banc ABC |
| author_facet | Branch Manager at Banc ABC Wilson Nyarugwe Gabriel Maibvisira Florence Mudzurandende |
| author_sort | Wilson Nyarugwe |
| collection | DSpace |
| description | The study sought to establish causes and effects of financial exclusion in Zimbabwe from 2009 to
2011 . The study adopted both descriptive and exploratory research designs owing to the
qualitative and insightful nature of the study . A diverse sample of 200 comprising bank
managers , the unbanked population , bank clients and officials from the Central Bank was used
and the sample was drawn from the three delimited towns. Structured and semi- structured
questionnaires, in-depth interviews and observation were used to gather data from the chosen
sample . The study came out with fundamental findings inter –alia ; the majority of the unbanked
population were in the informal sector , the rural and the low income population, the crisis of
2003 -2008 eroded people‟s confidence in banks resulting in self exclusion, financial exclusion
impacted negatively on the economy as a result of liquidity crunch and an estimated US $ 2.5
billion is circulating outside the formal banking system thereby reducing the country to a “cash
economy,” and the majority of the unbanked are the general population and the small to medium
enterprises who cannot meet the stringent bank loans requirements. Major recommendations are ; the need for banks to increase frequency of their mobile banking units to the marginalized
unbanked in rural areas , banks to revise their bank charges so as to attract and retain depositors,
banks to practice sound corporate governance and business ethics to regain depositors
confidence . |
| format | research article |
| id | ir-11408-5332 |
| institution | My University |
| language | English |
| publishDate | 2022 |
| publisher | International Journals Of Multidisciplinary Research Academy |
| record_format | dspace |
| spelling | ir-11408-53322022-12-21T11:02:09Z Causes & Effects of Financial Exclusion in the Banking Sector: the case of Zimbabwe Wilson Nyarugwe Gabriel Maibvisira Florence Mudzurandende Branch Manager at Banc ABC Lecturer in the department of the Graduate School of Business Leadership at Midlands State University, Zimbabwe. Lecturer in the department of Business Management at Midlands State University. Financial exclusion Financial inclusion Unbanked Liquidity crunch Banking sector The study sought to establish causes and effects of financial exclusion in Zimbabwe from 2009 to 2011 . The study adopted both descriptive and exploratory research designs owing to the qualitative and insightful nature of the study . A diverse sample of 200 comprising bank managers , the unbanked population , bank clients and officials from the Central Bank was used and the sample was drawn from the three delimited towns. Structured and semi- structured questionnaires, in-depth interviews and observation were used to gather data from the chosen sample . The study came out with fundamental findings inter –alia ; the majority of the unbanked population were in the informal sector , the rural and the low income population, the crisis of 2003 -2008 eroded people‟s confidence in banks resulting in self exclusion, financial exclusion impacted negatively on the economy as a result of liquidity crunch and an estimated US $ 2.5 billion is circulating outside the formal banking system thereby reducing the country to a “cash economy,” and the majority of the unbanked are the general population and the small to medium enterprises who cannot meet the stringent bank loans requirements. Major recommendations are ; the need for banks to increase frequency of their mobile banking units to the marginalized unbanked in rural areas , banks to revise their bank charges so as to attract and retain depositors, banks to practice sound corporate governance and business ethics to regain depositors confidence . 2 12 1 14 2022-12-21T11:02:08Z 2022-12-21T11:02:08Z 2012-12 research article https://cris.library.msu.ac.zw//handle/11408/5332 http://www.ijmra.us en International Journal of Marketing and Technology 2249-1058 open International Journals Of Multidisciplinary Research Academy |
| spellingShingle | Financial exclusion Financial inclusion Unbanked Liquidity crunch Banking sector Wilson Nyarugwe Gabriel Maibvisira Florence Mudzurandende Causes & Effects of Financial Exclusion in the Banking Sector: the case of Zimbabwe |
| title | Causes & Effects of Financial Exclusion in the Banking Sector: the case of Zimbabwe |
| title_full | Causes & Effects of Financial Exclusion in the Banking Sector: the case of Zimbabwe |
| title_fullStr | Causes & Effects of Financial Exclusion in the Banking Sector: the case of Zimbabwe |
| title_full_unstemmed | Causes & Effects of Financial Exclusion in the Banking Sector: the case of Zimbabwe |
| title_short | Causes & Effects of Financial Exclusion in the Banking Sector: the case of Zimbabwe |
| title_sort | causes & effects of financial exclusion in the banking sector: the case of zimbabwe |
| topic | Financial exclusion Financial inclusion Unbanked Liquidity crunch Banking sector |
| url | https://cris.library.msu.ac.zw//handle/11408/5332 http://www.ijmra.us |
| work_keys_str_mv | AT wilsonnyarugwe causeseffectsoffinancialexclusioninthebankingsectorthecaseofzimbabwe AT gabrielmaibvisira causeseffectsoffinancialexclusioninthebankingsectorthecaseofzimbabwe AT florencemudzurandende causeseffectsoffinancialexclusioninthebankingsectorthecaseofzimbabwe |