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Title: | Causes & Effects of Financial Exclusion in the Banking Sector: the case of Zimbabwe | Authors: | 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. |
Keywords: | Financial exclusion Financial inclusion Unbanked Liquidity crunch Banking sector |
Issue Date: | Dec-2012 | Publisher: | International Journals Of Multidisciplinary Research Academy | Abstract: | 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 . | URI: | https://cris.library.msu.ac.zw//handle/11408/5332 |
Appears in Collections: | Research Papers |
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File | Description | Size | Format | |
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Causes & Effects of Financial Exclusion in the Banking Sector.pdf | Abstract | 66.09 kB | Adobe PDF | View/Open |
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