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The Impact of Informal Financial Groups on Socio‐economic Development in Tanzania.
- Source :
- African Development Review / Revue Africaine de Développement; Mar2019, Vol. 31 Issue 1, p99-114, 16p
- Publication Year :
- 2019
-
Abstract
- Financial deepening is universally considered to be one of the vital means to trigger inclusive growth, in economies the world over, Tanzania being no exception. However, the lack of traditional collateral among the poor has made it virtually impossible for them to have access to financial services particularly in the formal financial institutions. It is in this context that the informal financial groups (IFGs) are so crucial in filling the financial inclusiveness gap among the poor in Tanzania. It is thus crucial that the efficacy of IFGs in improving the well‐being of the poor is assessed. It is in this context that the present study employs a quasi‐experiment mixed methodology to answer research questions. Findings have categorically shown that membership to IFGs has a positive and significant impact on various socio‐economic variables. Efforts to intensify education and training activities in IFGs, and their access to loans are some of the key recommendations that this paper suggests. It is hoped that the newly promulgated 2017 National Microfinance Policy shall be implemented to that effect. [ABSTRACT FROM AUTHOR]
- Subjects :
- ECONOMIC development
BANKING industry
FINANCIAL performance
MEDICAL care
POVERTY
Subjects
Details
- Language :
- English
- ISSN :
- 10176772
- Volume :
- 31
- Issue :
- 1
- Database :
- Complementary Index
- Journal :
- African Development Review / Revue Africaine de Développement
- Publication Type :
- Academic Journal
- Accession number :
- 136445962
- Full Text :
- https://doi.org/10.1111/1467-8268.12366