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.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:sun/oai:scholar.sun.ac.za:10019.1/86445 |
| Date | 04 1900 |
| Creators | Smith, Matthew Stephen |
| Contributors | Human, Debbie, Boshoff, Christo, Stellenbosch University. Faculty of Economic and Management Sciences. Dept. of Business Management. |
| Publisher | Stellenbosch : Stellenbosch University |
| Source Sets | South African National ETD Portal |
| Language | en_ZA |
| Detected Language | Unknown |
| Type | Thesis |
| Format | xviii, 289 p. |
| Rights | Stellenbosch University |
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