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2017 national financial sector survey gets underway

Finance Minister Philip Mpango (left) speaks at a past event. Officials from his ministry took part in the launching of the Finscope Survey 2017 yesterday. PHOTO | FILE

What you need to know:

  • The last Finscope Tanzania survey conducted in 2013 showed that access to formal financial services, both bank and non-bank, had grown from 16 per cent to 58 per cent of the adult population.
  • In a meeting convened by Financial Sector Deepening Trust (FSDT) in Dar es Salaam, FSDT Head of Research Elvis Mushi said, financial sector players have started the process of designing Finscope 2017 with a data search to ensure the outcome is relevant to the industry.

Dar es Salaam. A national financial sector survey, popularly known as the Finscope Survey, for 2017, kicked off yesterday.

The last Finscope Tanzania survey conducted in 2013 showed that access to formal financial services, both bank and non-bank, had grown from 16 per cent to 58 per cent of the adult population.

In a meeting convened by Financial Sector Deepening Trust (FSDT) in Dar es Salaam, FSDT Head of Research Elvis Mushi said, financial sector players have started the process of designing Finscope 2017 with a data search to ensure the outcome is relevant to the industry.

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The meeting was attended by high profile officials from the Bank of Tanzania, National Bureau of Statistics, mobile network operators, ministry of Finance, Repoa, Tasaf, insurance companies and the Tanzania Private Sector Foundation.

The survey targets 10,000 respondents and is expected and findings will be released in June 2017.

According to Mr Mushi, the organisation was coming up with better ways of designing the survey so as to improve the quality of data required by financial institutions.

He said, the design will capture requirements from different stakeholders, developments of similar surveys taken in other places, and new thinking which includes the future of the financial sector.

Mr Mushi added that there was a strong governance structure around the design process which includes the involvement of the National Bureau of Statistics that oversees the sampling of the survey and quality control of the entire process.

Finca Tanzania official Olaf Becker said it was important the survey brings together more players.

Moses Alphonce from Airtel said, it was important for mobile network operators to know their strengths and weaknesses in rural and urban areas.

“Mobile network operators are looking to go beyond basic services like cash in and cash out,” he said.

Given the need to track progress in term of financial inclusion, Finscope Tanzania 2017’s research methodology will not change dramatically compared to the 2013 edition, but will be adjusted to enhance quality, efficiency and effectiveness,” an FSDT statement said.

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