Mkonya, Lucas K.
(2018)
Factors that Promote Savings in Tanzania; the Case of Banks & Government Employees in Ilala District.
Masters thesis, The Open University of Tanzania.
Abstract
Over years, a number of research studies were conducted by scholars in the country to depict either saving behaviors or determinants of saving behaviors in Tanzania. By this study, the researcher wished to investigate what factors to consider in-depth while promoting savings, particularly now that the country targets to register itself in the medium-income economy by 2025. Successful sustenance of this economic endeavor highly demands capital accumulation in terms of increased saving rates to sustain economic operations during the transit period. Savings being the dependable variable; the researcher identified six independent variables vide literature reviews that promote saving rates to ensure the required break through. Altogether a total of 132 employees of the Ilala Municipal Council were selected to represent the national population in this study. Employees were identified using simple random sampling, cluster and purposive sampling techniques situational requirements taken into account. Primary data forming part of the study were gathered through interviews, self administered questionnaire and documentary reviews; such data were then coded and analyzed using the Statistical Package for Social Sciences Version 21 which presents results by way of units of coefficient / frequency, tables and percentages. In view of a large number of independent variables to interpret, Multiple Regression Analysis was recommended as rightful approach to apply in deriving reliable results on these data findings. Findings established that Financial Developments, Demographic Effects and ICT had great significance in promoting savings; but Interest Rate Effects and Products Innovations were proved to be insignificant to savings; while on the other end Social Security and Unemployment benefits were confirmed to greatly promote dis-saving in the society.
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