The Banking challenges faced by people in the rural community in Zimbabwe. A case of Kotwa in Mudzi

Author

Mbewe, Kudakwashe F.

Title

The Banking challenges faced by people in the rural community in Zimbabwe. A case of Kotwa in Mudzi

Abstract

The main aim of the research was to assess the banking challenges faced by people in the rural communities in Zimbabwe using a case study of Kotwa Location in Mudzi district. Banking is essential in the lives of people as it encourages saving however a large part of people in the rural community lack financial access. This was shown by the Finscope survey of 2016 by 30% of the people have access to financial services leaving pit 70% of the people being alienated from the financial services. The study used both qualitative and quantitative methodology and survey design. The study covered the Kotwa locality in Mudzi District in Zimbabwe using a sample of 79 respondents which included rural residents, rural bank workers and customers of the locational bank. Information was collected using questionnaires and observation from the targeted population. Also, secondary data was used give relevance to the field investigation. The finding highlighted that banking in the rural community is of assistance to the people that have the right qualification and those that perceive the service as of relevance. The navigations from the research clearly showed that distance, income and employment status of the individuals at a certain extent has influence on the use of financial services by the rural people, but does not determine one’s usage of the financial services. The rural populace has been given a number of opportunities for them to be engaged in financial services such a s training and proper regulations.

Date

December 2022

Publisher

BUSE

Keywords

Banking challenges

Financial services

Kotwa Location

Supervisor

N/A