MAP Zimbabwe
MAP Zimbabwe’s 2016 findings were derived from demand-side analysis from quantitative data provided by the 2011 and 2014 FinScope surveys, the Zimbabwe MSME Survey 2012 and primary qualitative research. The supply-side and regulatory analysis pulled data from interviews, mystery shopping and a range of industry documents.
The initial report highlighted seven key drivers that have an impact on financial inclusion in Zimbabwe. These included:
- Declining income and employment depressing the use of formal financial services
- Dutch disease, brought on by a strengthening US Dollar, which is driving weak exports and strong imports undermining the productive potential of credit but driving cross-border payments
- Banks’ contribution to the retail financial market declining, which requires them to re-think their business models to regain ground
- Payments and mobile money platforms now dominating the retail financial market landscape
- Cross-border retail money flows being a major growth area for Zimbabwe and fundamental for the economy and households to survive
- Informal financial services soaring as communities act collectively to survive
- Private human capital development, specifically financial services to support education, remaining a key priority for most Zimbabweans
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