Business Studies (BS)

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Analyzing the Drivers of Foreign Direct Investment Inflows and their Impact on Economic Growth in Tanzania
(New Challenges in Accounting and Finance, 2025-04-08) Mushi, Hellena Mohamedy and Ahmed, Mumtaz
This paper aims to deepen understanding and knowledge regarding the analyzing the drivers of foreign direct investment inflows and their impact on economic growth in Tanzania. Many developing countries aspire to shift from agriculture-centric economies to achieve sustainable development through industrialization. Realizing this goal, however, has been challenging, prompting an examination of the sixty-year trends and effects of FDI on Tanzania’s industrialization trajectory. This study employs a comprehensive approach utilizing time series models, specifically the Vector Autoregressive (VAR) model and the Error Correction Model (ECM), to analyze the dynamic influence of FDI on economic growth. By forecasting the 33-year trajectory of economic growth and FDI inflows using data from the World Bank spanning 1990 to 2020, this methodological framework aims to provide a nuanced understanding of the FDI- economic growth relationship, contributing valuable insights to the economic development discourse. The study’s results highlight the significant role of FDI in shaping both short- and long-term FDI progress, which is critical to advancing Tanzania’s economic growth. This underscores FDI as a key driver for economic growth by facilitating economic upgrading through FDI.
Analyzing the impact of remittance inflows on Tanzania’s social development and economic growth
(Cogent Economics & Finance , 2024-04-13) Mushi, Hellena Mohamedy
This journal article analyses the impact of remittance (REM) inflows on Tanzania’s social development and economic growth (Egrow) spanning from 1990 to 2022 data from the World Bank (WB), International Monetary Fund (IMF) and World Economic Outlook (WEO) were used. The purpose of this article was to measure the relationship between EGrow and REM by using the following variables: Investment (INV), Population growth (POP Grow), Exchange rate (EXCHR), Government Expenditure (GOVEXP) and Inflation (INFL). The study aimed to examine the impact of these factors on REMs on the EGrow concept by integrating it into REM studies in Tanzania. The selected factors on REMs have not been included in most REM studies conducted in Tanzania; thus, their inclusion in the study expands our knowledge of REM utilization in Tanzania. Utilizing the Fourier Stationarity Test and applying the general to a specific technique, this research findings unveil REMs’ positive and notable impact on Tanzania’s EGrow. Additionally, POP Grow, INV, EXCHR, GOVEXP and INFL exert a robust and substantial influence on REM. In conclusion, the empirical findings underscore the pivotal role of REMs in driving EGrow in Tanzania. The journal article recommended that decision-makers create proactive measures to encourage REM inflows.
Catalysts of actual purchase behavior: A theory of planned behavior analysis for local brand products in Tanzania
(Kuala Lumpur International Business, Economics and Law, 2023-12-16) Mushi, Hellena Mohamedy
Purpose – This article examined the factors influencing consumer behaviour to purchase local brand in Tanzania. A lot of research has been done on intention part but few studies have been done on the actual purchase behaviour on the side of local brand in Tanzania as a developing country. Therefore, this article attempts to examine the relationship between, price, quality, family and experience on actual purchase behaviour of local brand in Tanzania. Design/methodology/approach – This article used the Theory of Planned Behaviour (TPB). To achieve these objectives, a quantitative research approach was adopted. A cross sectional descriptive survey was done. Questionnaires used were 384 respondents from Dar-es-salaam, Tanzania. Analysis was performed using SMART PLS 4. Findings – The results show that price, family and experience have positive and significant impact on purchase intention. whilst, quality do not have a significant effect on purchase intention. Finally, intention has positive relationship with actual purchase behaviour of local brand in Tanzania. Research limitations/implications – The study's findings are specific to the Tanzanian context, and it may not be appropriate to generalize these results to other regions or countries with different cultural, economic, or social factors. The study appears to be based on cross-sectional data, which captures consumer behavior at a specific point in time. This approach may not account for changes in consumer preferences and behaviors over time. Practical implications –This research provides practical insights that can inform marketing strategies, product development, and policymaking in Tanzania's local brand market. By understanding the factors influencing consumer behavior, businesses and policymakers can make more informed decisions to support the growth and success of local brands while meeting the needs and preferences of consumers. Originality/value – The author contributes original insights specific to the Tanzanian consumer market, employs a multidimensional approach, applies a robust theoretical framework, and offers practical implications for businesses and policymakers. It enriches the academic literature on consumer behavior in emerging markets and provides actionable insights for promoting local brands effectively in Tanzania.
Challenges facing small scale industries in adoption of solar energy in Tanzania: A case study in Mbeya city
(Mzumbe University, 2019) George, Lena
The study examined the challenges faces small scale industries in adoption of solar energy sources in Tanzania: The specific objective was to assess the cost of solar appliances towards adoption of solar energy, to assess the capacity of solar appliances towards adoption of solar energy and third objective was to assess the SSI’s awareness of solar technology towards adoption of solar energy. The study also used both qualitative and quantitative approaches to collect and analyze data; both primary and secondary data were used under this study. The primary data was obtained from a sample of 80 respondents through questionnaires, observation checklist and Focus Group Discussion. Also, secondary data was obtained through documentary review whereby reports, journals, thesis and dissertations documents based on solar power were reviewed. The qualitative data obtained under this study was analyzed through content analysis and the quantitative data analyzed by using Statistical Package for Social Science (SPSS) and interpreted by content analysis to give the general picture of the study. The results findings revealed that, high percentage of entrepreneurs in small scale industries are capable to pay the cost of solar appliances sold in the market for operating their industrial activities but not comfortable with the payment system. As there are fewer investors of solar appliances which can power small scale industries, the mode of payment for big appliances is cash based and many entrepreneurs prefer paying by installment. Also, on the case of capacity of solar appliances, the results revealed that most of the appliances available have low capacity compared to the needs of the entrepreneurs in small scale industry. As the small-scale industries need more powerful batteries and appliances to power their extracting and milling. Last but least the results revealed that the awareness level of solar technology to small scale industries entrepreneurs is still very low to impact the informative decision making of the adoption of using solar energy for industrial activities. industries. Also, the study recommends that more investment should be made in the renewable energy sector including solar energy in particular. That will increase the competition on the service provided and reduce the price of the appliances and solar systems which can be used by small scale industries. This will help the country to run into industrial economy in 2025.
Digital marketing strategies and SMEs performance in Tanzania: insights, impact, and implications
(Cogent Business & Management, 2024-10-02) Mushi, Hellena Mohamedy
This article examines the interconnected nature of digital marketing strategies, encompassing search engine optimization, content marketing, social media marketing, email marketing, influencer marketing, paid advertising, and data analysis and the performance of small and medium enterprises (SMEs) in Tanzania which encompasses various factors, including sales growth, market share, and market development. A total of 335 small and medium-sized enterprises (SMEs) used a systematic random selection method for data collection. The necessary data was gathered by the researcher using a structured questionnaire. Partial least squares–structural equation modeling (PLS–SEM) was used in the data analysis process. The results of the study demonstrate a notable correlation between the digital marketing strategies dimension and the SMEs Performance dimensions in Mbeya City. Additionally, the article reveals that there were no observed moderation impacts of dynamic environment on digital marketing strategies and SME performance. The article emphasizes the necessity for entrepreneurs to properly utilize digital marketing strategies. This article provides significant insights for scholars and practitioners interested in utilizing digital marketing methods to enhance the performance of SMEs in Tanzania. These insights are derived from a comprehensive synthesis of the most recent research in the field. Research for future studies was recommended.
Enhancing brand loyalty in Tanzanian public higher education institutions
(Marketing and Branding Research, 2025-04-25) Mushi, Hellena Mohamedy
In the competitive environment of Tanzanian public higher education, maintaining a competitive edge requires an innovative approach to institutional branding. This article focuses on understanding the elements that influence brand loyalty among local students, particularly university image, perceived teaching quality, self-efficacy, and intention. Grounded in the Theory of Planned Behavior, the research employed proportionate random sampling to select participants and distributed 1,000 questionnaires across five public universities in Tanzania, receiving 400 valid responses for analysis using Structural Equation Modeling. The results indicated significant direct effects of university image, perceived teaching quality, and intention on brand loyalty, while self-efficacy exhibited no statistically significant impact. The findings underscored the critical role of perceived teaching quality and university image in shaping student loyalty toward a university's brand. Additionally, the study highlights the importance of intention as a mediating factor in influencing brand loyalty. These insights contribute to enhancing institutional branding strategies in Tanzanian public higher education. The study also offers practical recommendations and identifies areas for future research to strengthen branding and foster loyalty among students.
Examining challenges of SME'S towards their growth in Tanzania: A case study of SIDO-Mbeya
(Mzumbe University, 2019) Hingi, Stephen
The general objective of this study was to examine the Challenges that SMEs are facing towards their Growth. The study was conducted in SIDO-MBEYA in Mbeya region. The study used descriptive research design. This study employed convenience sampling and purposive sampling to collect data from 100 business people, government officials and microfinance officials using interviews and questionnaires. The data was analyzed descriptively and presented through figures, tables and percentages. Quantitative data were collected through questionnaires which were processed using the Statistical Package for Social Science (SPSS). Generally, the study findings revealed that access to finance and credit facilities hugely affected the growth of SMEs within Mbeya city. Lack of or insufficient capital for expansion led to collapse of many businesses, Poor infrastructure like bad and dilapidated road networks greatly impacted negatively on the growth of SMEs due to delays in delivery, high cost of transport. This made some entrepreneurs to relocate to central easily accessible places thus losing their former client base, Socio-cultural factors had much impact on the growth of SMEs but due to modernity and diversity of our culture things has started to turn out well. The study also has revealed that education largely influence growth of SMEs at SIDO Mbeya. The study recommends that: the government should get involved in determining the interest rate and protecting the borrowers; the policies of the MFI, as guided by the Central. There is a need to improve ways of gathering customer information for the purpose of personalized marketing and service in the context of communication.
Factor influencing customer satisfaction on the weight and measure agency services: A study of Mbeya city in Mbeya region
(Mzumbe University, 2017) Mhoja, Husein
This study investigated on the factors that influence customers’ satisfaction towards services rendered by the Weights and Measures Agency. The specific objectives were: (i) to assess whether verification of measuring instruments was a factor determining customers’ satisfaction, (ii) to examine if inspection of packed goods influenced customers’ satisfaction, (iii) to determine whether WMA human resource was a factor influencing to customers’ satisfaction, (iv) to find out whether corruption in WMA influenced customers’ satisfaction and (v) to examine whether budget to run WMA activities influenced customers’ satisfaction. A case study design was adopted, involving a total of 92 respondents of whom 80 were customers of WMA (traders using measuring instruments) and 12 of them were WMA staff and management who identified through purposive sampling. The study population comprised both males and females aged 18 years and above. Generally, findings showed that, customers’ satisfaction was influenced by awareness of weights and measures services which the results showed that 28% of respondents had maximum level of awareness while 72% of respondents had a good level of understanding WMA services. Customers’ satisfaction was influenced also by the regular conducts of verification of measuring instruments where results showed that 66% of respondents had a maximum satisfaction on verification of measuring instruments while 34% had a good level of satisfaction, satisfaction level on inspection of packed goods results showed that majority of respondents were satisfied by inspection of packed goods i.e. 49% good level and 45% maximum level of satisfaction. Also, low level of corruption practices influenced customers’ satisfaction; the results showed that 100% of respondents had never experienced any example of corruption practices within WMA services. But short period of notice of verification given to customers to prepare for verification of their measuring instruments and payment of verification fees contributed to low customers’ satisfaction. Results revealed that period of notice to verify measuring instruments had 48% of low level of satisfaction while 52% was moderate level of satisfaction. On the side of payment of verification fees results revealed that 37% had high capacity of affording to pay fees, 48% had a moderate vii capacity and 15% had a low capacity to pay verification fees. Furthermore, WMA shortage of inspectors of weights and measures plus inadequacy of budget to run activities contributed to low customers’ satisfaction because the WMA failed to protect consumers around all corners of the country and to perform all activities as required. Results revealed that 75% WMA had a minimum number of inspectors of weights and measures while 17% and 8% had moderate and fair level on adequacy number of inspectors to perform WMA activities. On budget to run WMA services results revealed that 50% by 50% had moderate and fair scale of accommodating all costs required to run WMA activities. Conclusively, more education should be provided to all kinds of customers so as to increase awareness on importance of using correct measurements which will also reduce unnecessary complaints from customers on the services provided by the WMA hence customers will continue to be satisfied.
Factors affecting the growth of small medium enterprises (SMES): A case of Mufindi district
(Mzumbe University, 2019) Simbeye, D. Y
This paper aims to investigate the factors affecting the growth of small medium enterprises (SMEs) from manufacturing sector in Tanzania. Specifically, this study wants to examine the effect of asset structure, profitability, and quality of information, size and age on leverage. Descriptive analysis and frequency were used to investigate the most significant factors that affect the capital structure choice of Tanzania SMEs during the year 2013. In the first model, both results find a negative and significant relationship for profitability and size with leverage while asset structure, quality of information and age show negative but not significant relationship with leverage. However, using a second model, asset structure shows a significant positive relationship with leverage, while quality of information shows significant negative relationship with leverage. The analysis indicates that firstly; the results are consistent with some capital structure theories such as trade-off theory and pecking order theory. Secondly, quality of information, asset structure, profitability and size are important factors that growth of Tanzania SMEs. Keywords: Leverage, SMEs, pecking order theory, trade-off theory, SMEs Growth
Factors influencing franchisees’ business performance: A study on Tanzania Franchise system
(Mzumbe University, 2019) Mungo, Benjamin
This study explores factors that influence franchisees’ business performance in Tanzania. Using a model of factors influencing franchise system performance as a conceptual framework, an extensive review and synthesis of literature was done. The literature synthesis led to the development of four research issues and a preliminary theoretical framework for the research. The issues and the framework were subjected to empirical exploration using data collected through in-depth interviews. The research was conducted in two stages: preliminary stage and main stage. A total of thirty-two purposively selected franchisees participated in the study; six in the preliminary stage and twenty-six in the main stage. Data were managed and analyzed using NVivo version 11. Through the analysis, a total of twenty-one factors were confirmed as having influence on franchisees business performance in Tanzania. Fourteen of these factors are as identified in the preliminary theoretical framework while seven were newly found in the study. This study has found that four business factors namely brand name, supports, control and supervision are the most important factors influencing franchisees’ business performance in Tanzania. Based on the findings of this study, it is therefore recommended that facilities and supports are important factors for franchisee’s business performance thus franchisors should support franchisees in terms of facilities and business management knowledge, franchisors should take measures to ensure that franchisees comply with system standards and practices, franchisors should have a clear understanding of their brand names position in the market and ensure that they meet the market demand. Finally, being the first comprehensive attempt to study the practice of franchising in Tanzania, this study makes contributions to franchising literature in three important ways, namely, it reaffirms current understanding, identifies new insights and enhances contextual knowledge of the business model
Factors influencing generation Y of Tanzanian market towards postpaid mobile phone services
(Mzumbe University, 2018) Venance, Paulina
Mobile phones are often known as a medium of self-expression and individuality for the younger generation. Generation Y is an important target market for mobile carriers. In the Tanzania market, the mobile phone service industry is facing a very competitive environment, and many studies have shown that maintaining customer loyalty is a very challenging task for marketers nowadays. Therefore, the objective of this study was to investigate the factors that influence loyalty towards mobile phones among Generation Y in Tanzania. The current study examined the relationships between service quality, perceived value, perceived enjoyment, technology perceptions, and customer loyalty. A survey was conducted among 541 respondents in the Generation Y category in Tanzania. Out of the four hypotheses tested, three were supported. The analyses revealed positive relationships between service quality, perceived enjoyment, technology perceptions and customer loyalty. A negative relationship was found between perceived value and customer loyalty. The study also highlighted implications of the study, future research work as well as its limitations.
Growth strategy, entrepreneurial capability and business success of SMEs in Mbeya city
(Mzumbe University, 2019) Seif, Juma
The purpose of this research is to investigate the business strategy and performance in Small and Medium-Sized enterprises (SMEs). The research focused on SMEs because of the importance of SMEs in the economy and the high percentage of them in the Tanzanian business population. The present research examined the relationship between entrepreneurial capability, growth strategy and SMEs business success. The entrepreneurial capability consisted of entrepreneurial self-efficacy and improvisational behaviors, and growth strategy included product development strategy, market penetration strategy and market development strategy. This research used a survey methodology, then analyzed by using a descriptive analysis, correlation and regression analysis. Findings showed that each independent variable had mixed results on SMEs business success. The entrepreneurial capability consisted of entrepreneurial self-efficacy and improvisational behaviors, and growth strategy included product development strategy, market penetration strategy and market development strategy have a positive influence in business success. This study contributed to the flow of RBV and provided important contributions for practitioners in developing policies and strategies for business success among SMEs in Tanzania
Higher-order constructs of injunctive and descriptive norms of consumer purchase behaviour of pirated music compact discs
(UONGOZI-Journal of Management and Development Dynamics, 2024-10-24) Mushi, Hellena Mohamedy
This study explores the higher-order constructs of injunctive and descriptive norms within the context of consumer purchase behavior of pirated music in Tanzania. Grounded in the Theory of Planned Behavior, the research aims to understand how subjective norms influence the decision-making processes of Tanzanian consumers regarding pirated music. A structured questionnaire was administered to a sample of 491 respondents, and data were analyzed using Smart PLS to test the relationships between the variables. These results have practical implications for marketers, business owners, and music promoters seeking to enhance CD sales among music users in Tanzania. Injunctive norms, which reflect perceived social pressures to conform to acceptable behavior, and descriptive norms, which reflect perceptions of how others behave, were investigated as independent variables. Consumer behavior regarding the purchase of pirated music was the dependent variable. The findings reveal that both injunctive and descriptive norms have a significant impact on consumer behavior, affirming the strong influence of subjective norms on piracy-related decision-making. Based on these results, recommendations were made to Tanzanian consumers and policymakers. For consumers, the emphasis was placed on increasing awareness of the ethical and legal implications of purchasing pirated music. For policymakers, strategies were suggested to strengthen anti-piracy campaigns and to promote positive behavioral changes through normative interventions. These insights provide a valuable contribution to understanding consumer behavior in emerging markets, where social norms play a critical role in shaping illegal consumption patterns.
Intention, government regulation, self-regulatory efficacy, subjective norm, idolatry and consumer behaviour in purchasing pirated compact disks (CDs) in mainland Tanzania
(Mediterranean Journal of Social Sciences, 2023-09-23) Mushi, Hellena Mohamedy
This study is conducted to explore the factors influencing purchase behaviour and to explain the magnitude of such factors on buying behaviour in Tanzania. Based on a systematic review of literature, a research framework was developed from Theory of Planned Behaviour (TPB). The casual model was empirically tested by using partial least-square structural equation modelling (PLS-SEM). The survey is comprised of 491 usable samples, collected from Generation Y consumers as the main music users in Tanzania. Result suggest that the model is significant and adequate. All antecedents of intention appears to be significant except for idolatry. Self regulatory efficacy and subjective norm are contributing factors to intention construct. Intention, along with self-regulatory efficacy is found to have significant impact on consumer buying behaviour. Government Regulation is found to have non- significant moderating impacts on the relationship between intention and consumer buying behaviour. In addition to theoretical implication, a number of managerial implications are observed. Marketers need to enhance consumers buying behaviour in various stakeholders , reduce music piracy through motivation on self-regulatory efficacy and subjective norm to Generation Y. Overall, the study is expected to confer value to music industry through discourage music piracy by researchers and marketers.
Market orientation and university performance in Tanzania: mediating efficacious leadership style
(Studies in Educational Management, 2025-04-15) Robson,Winfrida and Mushi, Hellena Mohamedy
Universities will function well if the management and administration of the education sector are improved and the resources available are well utilized. These resources include the caliber of professors, instruction, market orientation, and an efficacious leadership style. The purpose of this study is to investigate the relationship between market orientation, university performance in Tanzania, and the mediating impact of an efficacious leadership style. The Resource Based Theory (RBT) was applied. Self-administered questionnaires were used at five of Tanzania's largest public universities to collect data. One hundred twenty responses were analyzed using SMART PLS. The outcomes were as follows: Efficacious leadership demonstrated a significant positive relationship with university performance, and market orientation demonstrated a significant positive relationship with efficacious leadership. An efficacious Leadership Style (EL) had a mediating effect on the relationship between University Performance (UP) and Market Orientation (MO). Policymakers and other interested parties were also provided with the study's recommendations for additional research.
Moderating role of green innovation between sustainability strategies and firm performance in Tanzania
(Cogent Business & Management, 2024-12-06) Mushi, Hellena Mohamedy
This journal article investigates the moderating role of green innovation in the relationship between sustainability strategies and firm performance within the manufacturing sector in Tanzania. With increasing global emphasis on environmental sustainability, this study seeks to understand how green practices influence the performance of firms striving for a competitive edge. A quantitative research design was adopted, with data collected from a structured questionnaire distributed and 340 responses received for analysis from mid-level and senior managers across 10 public and private manufacturing companies in Tanzania. The study utilized SMART PLS 4 for data analysis, testing the proposed hypotheses grounded in Resource-Based Theory (RBT). The findings reveal a significant positive relationship between sustainability strategies and firm performance, highlighting the importance of integrating sustainable practices into business operations. However, while green innovation directly influences firm performance, it does not significantly moderate the relationship between sustainability strategies and performance outcomes. These findings suggest that manufacturing firms in Tanzania can improve performance by adopting sustainable strategies, even in the absence of a moderating effect from green innovation. The study concludes by offering actionable recommendations for industry practitioners and policymakers to encourage sustainable business practices, thereby supporting the broader goal of sustainable development in Tanzania.
The contribution of service quality to customer’s retention in social security schemes : A case of NSSF Mbeya.
(Mzumbe University, 2018) Hamisi, Musa
The study aimed to investigate the contribution of Service Quality to customer’s retention in social security schemes, whereby it examined the effect of empathy on customer’s retention, accessed the effect of tangibility toward customer retention as well as examined the effect of responsiveness towards customer’s retention in social security schemes in Tanzania. NSSF Mbeya Region was taken as study area due to facts that, NSSF is a giant scheme with large membership base, while Mbeya region is one among the region that are growing fast economically, consist of members from different sectors, informal as well formal sector. Respondents for our study were contributing NSSF’s Members. This study contributed the existing literatures in social security industry in Tanzania, provided a clear understanding to policy makers of social security industry on perception of beneficiaries, service provided and customer retention in general so as to enhance reformation of social security operations in general, as well findings provided a clear understanding to NSSF and other social security schemes a valuable information regarding customer’s retention, as well added reference materials for future researches. There were some difficulties encountered during the study as some of the contributing members were reluctant to cooperate and provide required information, some refrained with no specific reason. Structured Questionnaires, and observation were used to collect data from Simple random sampling methods using the Slovin Formula from a sample size of 100 Members. The questionnaires included 4 variables of empathy, 7 variables of tangibility and 4 variables of responsiveness, all factors of independent variables were measured against dependent variable on liner regression analysis. The results demonstrate that customers are satisfied with the services quality offered by NSSF; as well the study found Service Quality has direct effects on customer’s retention. The implication of this finding was that customers place a high reliable on Service Quality. The results obtained should be useful to NSSF Management and Management of other social schemes with respect on how to deal with customers in order to reduce customer’s churn rate or defection, retaining a customer is equal to retain value of organization which eventually lead to organization profit maximization and cost reduction
The impact of policies and regulations on the performance of commercial banks in Tanzania, The case of CRDB and NMB banks
(Mzumbe University, 2019) Mboje, Sylvester
This Dissertation studied what was perceived to be the current problem facing the banking sector today following the unsatisfactory performance for the past three years (2015-2017). Many have been said regarding the poor performance of the banking sector. Hence, this study examines the cause of the problem. The study used Questionnaires and interview methods to arrive to the conclusion. Case study research design was used where CRDB and NMB Banks were selected as our sample study.50 respondents were obtained using purposive and simple random sampling techniques. 10 key respondents were interviewed to get their perceptions on the banking sector's performance. The secondary data collected confirmed our prior suspicious of the problem under study. The findings indicated that poor performance of the banking was the result of introduction of new government policies and regulations found in the Banking and financial institutions Act,2014 and adoption of the international banking standards such as Basel I, II and III. Some of policies introduced by the fifth government of Tanzania such the tight spending, verification of civil servants, transfer of funds to BoT, squeeze of the money supply and government intervention in cash crops business were also factors for poor performance. The results have shown that the non-performing loans (NPLs) had a negative impact on the performance of the banking sector. This was the result of compliance with some regulations that shall be discussed in detail later. The results have also shown that both capital adequacy and liquidity positions of the banks were affected following the decision of the government to transfer funds to BoT and the tight spending policy. Some Banks especially NMB was affected by the decision of the government to remove the civil servants with fake certificates. The squeeze of Money supply in the economy had a great impact in the banking sector.