Exploring effect of community-based financial organizations on financial inclusion in selected low-income communities of Mchinji district, Malawi.
| dc.contributor.author | Ngaiyaye, Phunziro Eunice | |
| dc.date.accessioned | 2025-01-03T13:10:48Z | |
| dc.date.available | 2025-01-03T13:10:48Z | |
| dc.date.issued | 2024 | |
| dc.description | Thesis of Master of Business Administration. | |
| dc.description.abstract | The purpose of the study was to explore the effects of community based financial organizations on financial inclusion in selected low-income communities of Mchinji district, Malawi. The sample size was 400 respondents, derived at statistically using Yamane (1967) formula with 95% Confidence Levels and 5% Margin of Error. The study adopted mixed embedded research design while data were collected using structured questionnaire on Kobo Tool. Quantitative data were analyzed using correlation and regression analysis with the help of SPSS (Version 20). Thematic model was employed in qualitative data analysis. The study findings revealed a strong positive correlation (0.697) between implementing community-based solutions and establishing trust and credibility within the community. A further moderate positive correlation (0.444) existed between implementing community-based solutions and feedback mechanisms. However, the study showed a weak negative correlation (-0.015) between implementing community-based solutions and financial literacy programs. On the other hand, financial literacy programs demonstrated a moderate positive correlation with establishing trust and credibility (0.594) and a strong positive correlation with feedback mechanisms (0.956). Establishing trust and credibility exhibited a moderate positive correlation with feedback mechanisms (0.256). These correlations highlight the interrelatedness of various aspects of CBFO operations and engagement with the community, providing valuable insights into their dynamics and implications for financial inclusion initiatives. The findings furthermore showed that CBFOs offer a diverse range of financial services tailored to meet the specific needs of their members, including village savings and loans, business services and farming services. It was further brought to light that CBFOs offer enhanced access to financial services through awareness and providing financial education to mitigate challenges such as financial literacy and improve access to financial services. However, the mixed perception revealed in the study findings regarding the effects of CBFOs on financial inclusion is an indication for the need of continued efforts to strengthen relations with community members and stakeholders. The study recommended that policy makers should prioritize the development of supportive policies framework with clear lines on community engagement, trust building and feedback mechanism within the CBFOs. These should include among others financial literacy programs, reducing transaction cost and promoting gender sensitive approaches to financial services provision. | |
| dc.identifier.uri | https://dspace.unza.zm/handle/123456789/9068 | |
| dc.language.iso | en | |
| dc.publisher | The University of Zambia | |
| dc.title | Exploring effect of community-based financial organizations on financial inclusion in selected low-income communities of Mchinji district, Malawi. | |
| dc.type | Thesis |