The contribution of financial institution in industrialisation, a case study of Dar es Salaam Region-Tanzania

dc.contributor.author	Mwakabhejela, Geofrey
dc.date.accessioned	2020-10-12T06:59:37Z
dc.date.available	2020-10-12T06:59:37Z
dc.date.issued	2019
dc.identifier.citation	APA	en_US
dc.identifier.uri	http://hdl.handle.net/11192/4365
dc.description.abstract	This study was premised on the quest to gain meaningful understanding on the contribution of financial institutions in industrialization and was directed by four specific objectives namely: to assess financial based problems facing industrial development, to identify the sources of financing industrial development, to evaluate the impact of bank loans on industrial development and to develop strategies that can improve access to financing of industrial development in Tanzania. The study conducted by relying on primary and secondary data whereby data collections tools like; interview guide, questionnaires, and documentary review were used. The study sited some industrial development financing channels like; Specialist Banks such As Women Banks, Agriculture Banks, Investment Banks, Pension Funds, Equity Fund i.e. Umoja Trust Funds, Capital Markets (DSE) with a special SME window, Self-Financing (Savings), repayment of installments by current borrowers, However, the study also noted obstructing factors that hinder access to finance such as low national financial savings, Lack of Long term funding options, Poor loan repayment culture, Low levels of financial literacy, public confidence in the financial system, Inadequate Legal and Regulatory Frameworks; Structure and Court inefficiency in handling business related cases; need fairness and speedy decision making especially on credit related cases as defaulters tends to find a rescue at the court and takes advantage of the delays, unpredictable taxes and multiple fees and levies; Challenges due to outdated /biased labor laws and multiple fees payable to multiple Government institutions offering the same services example OSHA and Fire. The study also found that poor loan repayment culture possesses a major challenged towards financing industrial development in Tanzania as it creates good sum of non-performing loans. The study recommends that: savers be given fiscal incentives, decrease of withholding tax on interest income, Pushing financial inclusion by enabling reliable, cost effective financial infrastructure including networks and electronic payment systems; establishment of National Payment Switch to achieve total interoperability, thus reduce transaction costs, Taking actions to enhance confidence of public in the financial system, sustaining the financial transactions confidentiality while respecting the role of the sector to the economy and its sensitive nature, there is need to strengthen the Private Sector, borrowers should have a good culture of loan repayment and there is a need for lenders to develop innovative products/services.	en_US
dc.language.iso	en	en_US
dc.publisher	Mzumbe University	en_US
dc.subject	Industrialization	en_US
dc.subject	Financial institutions	en_US
dc.subject	Industrial development-Tanzania	en_US
dc.title	The contribution of financial institution in industrialisation, a case study of Dar es Salaam Region-Tanzania	en_US
dc.type	Thesis	en_US