Thesis (MComm)--Stellenbosch University, 2014. / ENGLISH ABSTRACT: In recent years the African banking industry has received much attention from international investors. The international attention received by Africa is due to trends such as globalisation and the profit potential that exists at the bottom of the economic pyramid. Within Africa, Tanzania has become a hub of investment for both international and South African banks. Banks such as South African based First National Bank have publically stated that one of their main priorities at the moment is securing the bank as a participator in the Tanzanian financial service industry. The Tanzanian banking market is currently served by fourty-eight banks and the minister of finance encourages further investment and entry into the country. Despite the large number of banks in Tanzania, the penetration rate of banked individuals remains low with approximately nine per cent of the population being members of the formal banking system. The low penetration indicates the Tanzanian population’s reluctance or inability to partake in the banking sector. Research suggests that poor attitudes held by Tanzanians towards the banking industry are a key factor causing the low penetration rate of banking in the country. While consumer behaviour literature has found that attitudes exert a critical influence on consumers’ behavioural intention, attitudes cannot be viewed as the sole predictor of behaviour. The Theory of Planned Behaviour, that evolved from the Theory of Reasoned Action, extends the relationship between attitudes and intentions to include the influence of subjective norms and perceived behavioural control. Thus the Theory of Planned Behaviour states that behavioural intentions are determined by: (1) attitudes, (2) subjective norms and (3) perceived behavioural control. This study was conducted in Dar es Salaam, Tanzania, and utilised the Theory of Planned Behaviour as a guideline to measure the influence of attitudes, subjective norms and perceived behavioural control on unbanked consumers’ intentions to open a formal bank account. Unbanked individuals were studied to provide banks doing business in Tanzania with insight into the factors that influence these consumers’ to become banked. The knowledge gained about unbanked individuals can be used to develop marketing strategies to increase the banked population of Tanzania. Research has shown that the average Tanzanian banking client is between the ages of twenty-seven and thirty-four and has a tertiary education. Thus the sample selected for the study was individuals who where studying towards a tertiary education in Tanzania between the ages of eighteen and twenty-seven. These individuals were selected as they are the most likely potential clients of Tanzanian banks. They are also potentially the most profitable clients for banks as they will likely earn more than other individuals once commencing formal employment. The Theory of Planned Behaviour was adapted to account for the unique characteristics of the Tanzanian financial services industry. Exploratory research identified the following dimensions as being possible influencers of intention to open a formal bank account in Tanzania: (1) trust, (2) attitude towards saving, (3) perceived relative advantage, (4) access convenience, (5) perceived value and (6) attitude towards banks. After data collection in Tanzania the model was further revised by conducting an exploratory factor analysis. The exploratory factor analysis identified the following dimensions as influencing intention to open a formal bank account: (1) attitude towards saving, (2) attitude towards banks, (3) self-efficacy, (4) access convenience, (5) reference groups, (6) perceived relative advantage, (7) perceived value, (8) attitudes towards banking, (9) trust, (10) future financial independence and (11) future benefits. Regression analyses were used to test the relationships suggested in the model. Significant relationships were found between the independent variables (1) future financial benefits and (2) reference groups and the dependent variable intentions. Relationships were also found between the independent variable future benefits and the dependent variable attitude towards banking. The empirical findings were used to develop strategies suggesting ways to increase the banked population of Tanzania. By increasing the banked population of Tanzania the Tanzanian economy, Tanzanian citizens and banks doing business in Tanzania will benefit. As banking facilitates economic growth an increase in the banked population of Tanzania would likely lead to increased economic growth in the country. Tanzanian citizens will benefit from the study as by opening formal bank accounts they will experience the many benefits of banking. Lastly banks doing business in Tanzania are likely to experience increased profitability as a result of the increased customer base. / AFRIKAANSE OPSOMMING: Oor die afgelope paar jaar het die bankbedryf in Afrika baie aandag ontvang van internasionale beleggers. Hierdie aandag is die gevolg van tendense soos globalisering en die winspotensiaal wat bestaan aan die onderkant van die ekonomiese piramide. Binne Afrika het Tanzanië heelwat beleggings van sowel internasionale as Suid-Afrikaanse banke gelok. Banke soos die Suid-Afrikaans gebaseerde First National Bank het amptelik verklaar dat een van hulle vernaamste prioriteite op die oomblik is om te verseker dat die bank ’n rolspeler is in die Tanzaniese finansiëledienstesektor. Die Tanzaniese bankmark word tans deur agt en veertig banke bedien en die minister van finansies moedig verdere beleggings en toegang tot die land aan. Ten spyte van die groot aantal banke in Tanzanië is die persentasie individue wat gebruik maak van formele bankdienste, slegs ongeveer nege persent van die bevolking. Die lae syfer dui op die onwilligheid of onvermoë van die Tanzaniese bevolking om aan die banksektor deel te neem. Navorsing dui daarop dat die negatiewe houdings van die Tanzaniese bevolking teenoor die banksektor ’n deurslaggewende faktor is wat die lae deurdringingskoers van die bankwese in die land veroorsaak. Alhoewel literatuur oor verbruikersgedrag aantoon dat houdings ’n kritiese invloed uitoefen op verbruikers se voorgenome gedrag, kan houdings nie beskou word as die enigste voorspeller van gedrag nie. Die Teorie van Beplande Gedrag, wat ontwikkel het uit die Teorie van Beredeneerde Optrede, brei die verhouding tussen houdings en voornemens uit om die invloed van subjektiewe norme en waargenome gedragsbeheer in te sluit. Die Teorie van Beplande Gedrag stel dit dus dat gedragsintensies bepaal word deur: (1) houdings; (2) subjektiewe norme; en (3) waargenome gedragsbeheer. Hierdie studie is uitgevoer in Dar es Salaam, Tanzanië, en het die Teorie van Beplande Gedrag gebruik as ’n riglyn om die invloed te bepaal van houdings, subjektiewe norme en waargenome gedragsbeheer op die niebankgebruikers se voornemens om ’n formele bankrekening te open. Niebankgebruikers (individue sonder bankrekeninge) is bestudeer om aan banke wat in Tanzanië sake doen, insigte te voorsien oor die faktore wat hierdie individue beïnvloed om bankdienste te begin gebruik. Die kennis wat opgedoen is oor niebankgebruikers kan gebruik word om bemarkingstrategieë te ontwikkel om die getal bankgebruikers in Tanzanië te verhoog. Navorsing het getoon dat die gemiddelde Tanzaniese bankkliënt tussen seween- twintig en vier-en-dertig jaar oud is en tersiêre onderrig ondergaan het. Die steekproef wat gekies is vir die studie, het dus bestaan uit individue wat besig was met tersiêre opleiding in Tanzanië. Hulle is bes moontlik die mees winsgewende kliënte vir banke, want hulle sal waarskynlik meer verdien as ander individue wanneer hulle formeel begin werk. Die Teorie van Beplande Gedrag is aangepas om die unieke eienskappe van die Tanzaniese finansiëledienstesektor in ag te neem. Verkennende navorsing het die volgende dimensies geïdentifiseer as moontlike oorsake van intensies om ’n formele bankrekening in Tanzanië te open: (1) vertroue; (2) houding teenoor spaar; (3) vermeende relatiewe voordeel; (4) toegangsgerief; en (5) vermeende waarde. Na data-insameling in Tanzanië is die model verder hersien deur ’n verkennende faktorontleding uit te voer. Hierdie faktorontleding het die volgende dimensies geïdentifiseer wat die intensies om ’n formele bankrekening te open beïnvloed: (1) houding teenoor spaar; (2) houdings teenoor banke; (3) selfdoeltreffendheid; (4) toegangsgerief; (5) verwysingsgroepe; (6) vermeende relatiewe voordeel; (7) vermeende waarde; (8) houdings teenoor bankdienste; (9) vertroue; (10) toekomstige finansiële onafhanklikheid; en (11) toekomstige voordele. Regressie-ontledings is gebruik om die verhouding, wat voorgestel is in die model, te toets. Betekenisvolle verhoudings is aangetoon tussen toekomstige finansiële voordele en verwysingsgroepe as onafhanklike veranderlikes en intensies oftewel voornemens as afhanklike veranderlike. Daar is ook verhoudings gevind tussen toekomstige voordele as onafhanklike veranderlike en houding teenoor bankdienste as afhanklike veranderlike. Die empiriese bevindinge is gebruik om strategieë te ontwikkel wat maniere voorstel om die getal bankgebruikers in Tanzanië te verhoog. Dit sal tot voordeel strek van die Tanzaniese ekonomie, die Tanzaniese bevolking, asook banke wat besigheid doen in Tanzanië. Bankdienste fasiliteer ekonomiese groei, wat die land se ekonomie bevoordeel. Tanzaniese burgers sal voordeel trek uit die studie, want hulle sal die voordele van bankgebruik beleef wanneer hulle bankrekenings open. Daarbenewens sal banke wat in Tanzanië funksioneer, groter inkomste genereer. Die Tanzaniese bevolking en ekonomie sal egter eers die volle voordele beleef indien die getal bankgebruikers beduidend toeneem.