Business Reporter
Government, through the Ministry of Finance and Economic Development, has commissioned the second FinScope Financial Consumer Survey to assist in assessing the impact of the financial inclusion policies implemented since the last survey in 2011.The survey, which will also assist in the refinement of policies to enhance financial inclusion and access to capital, will involve interviews with more than 4000 participants drawn from urban and rural areas countrywide. All provinces will be covered in the survey.
FinScope Consumer Survey is a nationally representative study of demand for, usage of, and access to financial services.
It seeks to measure and profile levels of access to and use of financial services by all bankable adults, across income ranges and other demographics.
“The Ministry of Finance and Economic Development requests all Government, local authorities, provincial and district administration officials, the police, political and community leaders, as well as, ordinary citizens to give all the necessary assistance and support to the survey teams to enable them to carry out this important national assignment,” the Finance Ministry said in a statement.
The survey will be conducted by FinMark and a number of local companies and organisations.
The Research Continental – Fonkom has been engaged as the research house and will be directly responsible for the field research.
Africa Corporate Advisors has been engaged as the local project co-coordinator and will also attend to the logistical arrangements for the assignment while the Zimbabwe National Statistical Agency will ensure that the survey is executed in compliance with the necessary quality and standards of a national survey.
A 2011 FinScope survey showed that 40 percent of Zimbabweans are financially excluded using neither formal nor informal products/services to manage their finances but mainly rely on family/friends while 38 percent of are formally served.
Financial exclusion is particularly high in the rural areas possibly due to limited accessibility to banks and formal salaried employment opportunities and current products/services seem to focus on adults who receive a regular salary.