Cover Image
close this bookMicroenterprise Financial Services: K-REP's Move Towards Mobilising Voluntary Savings (K-REP, 1996, 74 p.)
View the document(introduction...)
View the documentAcknowledgement
View the documentExecutive Summary
Open this folder and view contentsChapter One
Open this folder and view contentsChapter Two
Open this folder and view contentsChapter Three
View the documentCited References
View the documentAnnex 1: Tables extracted from the study
View the documentAnnex 2: Study Questionnaires

Annex 2: Study Questionnaires

Serial Number: ___________

K-REP SAVINGS STUDY PHASE II

QUESTIONNAIRE - Business People

Date of interview __________________
Name of Enumerator __________________
Area of enumeration __________________

Location:

1: Rural ____
2: Urban ____

Status of respondent:

1: K-REP Client _____
2: Non K-REP Client _____

A: BACKGROUND INFORMATION

1. Name of respondent _________________________________________

2. Gender of respondent:

1 = Male
2 = Female

3. Year born __________________

4. Level of education: ________

1 = None
2 = Lower primary
3 = Upper primary
4 = Lower secondary
5 = Upper secondary
6 = Higher than secondary
7 = Other (specify)

5. Number of enterprises ___________________

6. Type of businesses ___________________ (CODE: _______)

7. Year started this business ___________________

8. Working patterns:

(a) Days in month open ____________

(b) Hours in a day open (from _______ to _________) Total hrs open ____

9. Number of employees:

Paid - part time _____
Paid - full time _____
Unpaid - part time _____
Unpaid - full time _____
TOTAL _____

10. Please indicate the following regarding the number of children you have;

(a) Total number of children __________________
(b) Children below school-going age __________________
(c) Children in school (Prim, Sec, College, University) __________________
(d) Total number of dependent children __________________

B: CASH FLOW PATTERNS (SEASONALITY OF THE BUSINESS)

11. Please indicate your other main sources of income _______

1 = From other business
2 = From paid employment
3 = From farming
4 = Other (specify) __________

12. Please indicate the periods in the year/month when your business experiences high, medium and low sales

Yearly patterns
(Last year)


Jan

Feb

Mar

Apr

May

June

July

Aug

Sep

Oct

Nov

Dec

High sales













Medium sales













Low sales













Monthly patterns
(Last month)


Week 1

Week 2

Week 3

Week 4

High sales


Medium sales


Low sales


13. What is your estimated level of sales per day/week/month during;

High sales months

Kshs _____

per _____

(Avg/month

Ksh) _____________)

Medium sales month

Kshs _____

per _____

(Avg/month

Ksh) _____________)

Low sales months

Kshs _____

per _____

(Avg/month

Ksh) _____________)

14. I assume that over any one year/month/week your expenses go up and down in the same pattern as your sales.

(a) Is this right?

1 = Yes
2 = No

(b) If not, please explain ___________________________________

15. Please indicate the following with regard to the major expenses you incur during a month in relation to this bus

Type of expense

# of times expense incurred

Approximate amount per expense (in Kshs)

Total expenses per month


Number

1 = day
2 = week
3 = month
4 = year



SALARIES






part time






full time





SUPPLIES






main






minor





INTEREST ON LOANS





OVERHEADS






Rent






Electricity






Water






Telephone






Licence(s)






Other





OTHER (specify)





1.





2.





3.





4.





C: SAVINGS BEHAVIOUR

16. Have you ever made savings in the following ways

a

b

c

d

e

Method of saving

Main reason for method used

Purpose of saving

Frequency per month in

Rating of method of saving

depositing

Withdrawing


#

1 = wk
2 = mn
3 = yr

#

1 = wk
2 = mn
3 = yr

1 = Cash

2 = Individuals

3 = Bank

4 = SACCO


5 = ROSCA

6 = Stocks

7 = Liquid assets

8 = Durable assets

9 = Others

17. Where do you normally get money from to pay for the following;

(a) Foreseen major expenses (e.g school fees, foreseen medical fees etc) _________
(b) Planned investments (e.g building, buying land, expanding business etc) _________
(c) Unforeseen major expenses (e.g sickness, natural disasters, court expenses etc) _________
(d) Unplanned business opportunities which present themselves _________

CODES

1 = Own savings
2 = Sale/lease of property (e.g land, durable goods, livestock, farm produce etc)
3 = Sale of liquid assets e.g snares, bonds, treasury bills
4 = Withdraw money from business
5 = Seek assistance (free) from relatives, friends and well wishers
6 = Raise money through Harambees (fund raising)
7 = Borrow from relatives or friends
8 = Borrow from employer
9 = Borrow from money lenders
10 = Borrow from formal financial institution (SACCO, Bank, credit NGOs etc)
11 = Salaries
12 = Insurance
13 = Others (specify) _____________________

FOR THOSE WHO SAVE IN BANKS

18. Please indicate the following:

a

b

c

d

Bank with which you have an account

Number of Accounts held

Types of accounts

Reasons for such accounts

Reason for choosing this bank

KCB

Barclays bank

Standard


National bank

Co-op bank

Post bank

Other (specify)

19. Please indicate the following regarding the account(s) you operate

Type of account

No. of deposits made per month

Appr. amount deposited per month

No. of withdrawals made per month

Appr. amount withdrawn per month

Current account

Savings account

Fixed deposit account


Other

CODES FOR A, B, C, D & E OF QUESTION 16

(a) Methods used to save

1 = Keep money in house/shop/pocket [CASH]
2 = Save with individuals (entrusted friends/relatives/suppliers etc) [INDIVIDUALS]
3 = Save in bank [BANK]
4 = Save in other institutions (SACCOs) [SACCO]
5 = Save in local ROSCAs [ROSCA]
6 = Re-invest in stocks [STOCK]
7 = Use extra money to buy liquid assets e.g shares, treasury bills, bonds etc [LIQUID ASSETS]
8 = Purchase durable assets (plots, buildings, machines etc) [DUARABLE ASSETS]
9 = Others (specify) [OTHERS]

(b) (i) Reasons for saving in the house/shop/pocket

1 = Available all the time
2 = No limitations on any amount required
3 = Limited or no costs involved
4 = No complicated procedures
5 = No alternative methods (e.g banking facilities)
6 = Easy to track
7 = Other

(b) (ii) Reasons for saving with individuals

1 = The only safe alternative
2 = Less temptations
3 = Limited or no costs involved
4 = No complicated procedures
5 = Establishes closer links - higher possibilities of assistance
6 = Other

(b) (iii) Reasons for saving in banks

1 = Safety
2 = Less temptations
3 = Bank is near/easily accessible
4 = Possibility of getting other services (credit)
5 = Interest earned
6 = Chequing facility
7 = Other

(b) (iv) Reasons for saving in other financial institutions

1 = Safety
2 = Less temptations
3 = Institution is near/easily accessible
4 = Possibility of getting other services (credit)
5 = Interest earned
6 = Other

(b) (v) Reasons for saving in local ROSCAs

1 = Safety
2 = Less temptations
3 = Enhances group solidarity
4 = Enforcement aspect enhances discipline in saving
5 = Low interest on expected loan
6 = Other

(b) (vi) Reasons for saving in form of re-investments in stocks

1 = Less temptations (money not completely liquid)
2 = Easy to convert into money (liquidity)
3 = Limited/No costs
4 = Good returns
5 = Other

(b) (vii) Reasons for saving in form of purchase of liquid assets

1 = Safety
2 = Less temptations
3 = Returns earned
4 = Possibility of using assets as collateral
5 = Easy to convert into money
6 = Other

(b) (vi) Reasons for saving in form of purchase of durable assets

1 = Less temptations (cannot be converted into money easily)
2 = Possible returns through appreciation in value
3 = Service durable asset provides before re-sale
4 = Other

(c) (i) Purpose for which respondent saves money

1 = Use in emergencies
2 = Use in business deals that may arise any time
3 = Use in routine day-to-day transactions
4 = Use in routine monthly expenditures (salaries, rent, electricity etc)
5 = Planned short-term (up to 3 months) investment
6 = Planned long-term (more than 3 months) investment
7 = To earn interest
8 = To build up credit worthiness
9 = To minimize extravagance (thriftiness/temptation to spend)
10 = To pay school fees
11 = For other social obligations (marriage, burial rites, religious rites etc)
12 = To purchase consumer durable (bicycle, car, TV, fridge, etc)
13 = Monitor your expenditures
14 = Other (specify)

(d) (i) Number of times in a month deposits are made (indicate actual number of times)

(d) (ii) Number of times In a month withdrawals are made (indicate actual number of times)

(e) How respondent rates the method he/she uses to save

1 = Excellent/very good
2 = Good
3 = Fair
4 = Poor/bad

5 = Very poor/bad

20. How far is your bank from your business premise (in Kms) ________

21. How do you regard the distance to your bank from this business? __________

1 = Very far (a big problem)
2 = Fairly far (not a big problem)
3 = Not far/near/okey (not a problem at all)
4 = Other (specify) _________________

22. What do you LIKE most about this bank? ________________

1 = Nothing
2 = Distance/proximity of bank to business premises
3 = Interest rate on deposits
4 = Interest rate on loans
5 = Minimum balance for opening accounts
6 = Minimum balance required for operating account
7 = Minimum balance for earning interest
8 = Opening hours of the bank
9 = Closing hours of the bank
10 = Flexibility introduced by Automated Teller Machines (ATMs)
11 = Time taken to receive service
12 = Attitude (e.g politeness, concern) of bank officials
13 = Possibility of getting credit
14 = Mobile facility
15 = Other (specify)

23. What do you DISLIKE most about this bank? ______________

1 = Nothing
2 = Distance/proximity of bank to business premises
3 = Low interest rate on deposits
4 = High interest rate on loans
5 = High minimum balance for opening accounts
6 = High minimum balance required for operating account
7 = High minimum balance for earning interest
8 = Opening hours of the bank
9 = Closing hours of the bank
10 = Time taken to receive service
11 = Attitude (e.g rudeness, arrogance, lack of concern) of bank staff
12 = Low possibility of getting credit
13 = High bank charges
14 = Other (specify)

D: PERCEPTIONS ABOUT THE PROPOSED K-REP SAVINGS SERVICES

K-REP is thinking of introducing savings services among Its financial services to MSEs.

Please give us your opinion on the following:

24. Would you open an account with the proposed K-REP bank? ____________

1 = No
2 = Yes

25. If no, please explain

26. What TWO MOST critical things would make you open an account with the proposed K-REP bank:

(a) First consideration _______________
(b) Second consideration _______________

CODES

1 = Proximity/nearness of bank to my business premise
2 = Favourable interest rates on deposits
3 = Reasonable interest rates on loans
4 = Low minimum balance for opening accounts
5 = Low minimum balance required for operating account
6 = Reasonably low minimum balance for earning interest
7 = Early opening time of the bank
8 = Late closing time of the bank
9 = Possibility of bank opening during week ends
10 = Fast services
11 = Good attitude (e.g politeness, concern) of bank officials
12 = Possibility of getting credit
13 = Good public image of the bank
14 = Other (specify)
15 = Easy opening procedures
16 = None

27. If you were to open an account with the proposed K-REP bank, please indicate the following;

(a)

(i) Number of times you would make deposits # ___________ per __________
(ii) Approximate amount to be deposited each time Kshs ______________

(b)

(i) Number of times you would make withdrawals # ___________ per __________
(ii) Approximate amount to be withdrawn each time Kshs ______________

LOCATION OF BANK

28. If you were to decide where to locate the bank, which place would you select? ___________

1 = Same estate/area
2 = Same town
3 = Nearest town
4 = Outside same area BUT served with a mobile unit
5 = Anywhere safe provided area is well linked with transport services
6 = Other (specify)

29. Why would you select this place as opposed to other alternatives? ________

1 = Near my business
2 = Near my residential house
3 = Security
4 = Served well by public transport and communication means
5 = Other (specify)

30. How far is this place from your business premise? ______________ Kms

31. What days of the week/month would you like the bank to be open? _____________

1 = Monday - Friday only
2 = Monday - Friday plus first and last Saturdays of the month
3 = Monday - Saturday always
4 = Monday - Saturday PLUS first and last Sundays
5 = Monday - Sunday always
6 = Other (specify)

32. What would you prefer the opening and closing hours of the bank to be?

Opening hour

Closing hour

Weekdays

Weekends:


Saturdays




Sundays

THANK YOU

Serial Number: _________________

K-REP SAVINGS STUDY PHASE II

QUESTIONNAIRE - Non Business People

Date of interview _________________
Name of Enumerator _________________
Area of enumeration _________________

Location:

1: Rural ____
2: Urban ____

A: BACKGROUND INFORMATION

1. Name of respondent _______________________________

2. Gender of household head:

1 = Male
2 = Female

3. Year born ___________________

4. Level of education:

1 = None
2 = Lower primary
3 = Upper primary
4 = Lower secondary
5 = Upper secondary
6 = Higher than secondary
7 = Others (specify)

5. Number of children

(a) Total number of children _________________
(b) Children below school-going age _________________
(c) Children in school (Prim, Sec, College, University) _________________
(d) Total number of dependent children _________________

6. Occupation? ______________________________

1 = Paid worker - permanent employment
2 = Paid worker - casual/temporary/part-time worker
3 = Apprentice/student
4 = Commercial farmer
5 = Subsistence farmer
6 = Unemployed
7 = Others (specify) ____________

7. For how long have you been in this occupation? (in years) ____________

B. CASH FLOW PATTERNS

8. Main sources of income and its inflow patterns

Sources of income

Number of times received

Number

1 = per week
2 = per month
3 = per year

Approximate amount received each time

Full time employment




Part time employment




Allowances/grants




Farming




Pension




Other (specify)




9. Please indicate the following with regard to the major expenses you incur

Type of expense

# of times expense incurred

Approximate amount per expense (in Kshs)

Total expenses per month

Number

1 = day
2 = week
3 = month
4 = year



MONTHLY EXPENSES



Rent






Food


Salaries/wages


Transfers


House overheads


Interest on loans


Other (specify)




DAY-TO-DAY





Food:






Transport


Other (specify)






OCCASIONAL


School fees






Medical bills


Clothing


Durable assets


Other (specify)






OTHER (specify)


1.


2.


3.


4.




C: SAVINGS BEHAVIOUR

10. Have you ever made savings in the following ways

a

b

c

d

e

Method of saving

Main reason for method used

Purpose of saving

Frequency per month in

Rating of method of saving


depositing

Withdrawing


#

1 = wk
2 = mn
3 = yr

#

1 = wk
2 = mn
3 = yr

1 = Cash







2 = Individuals







3 = Bank







4 = SACCO







5 = ROSCA







6 = Liquid assets







7 = Durable assets







8 = Others







11. Where do you normally get money from to pay for the following;

(a) Foreseen major expenses (e.g school fees, foreseen medical fees etc) ________
(b) Planned investments (e.g building, buying land, etc) ________
(c) Unforeseen major expenses (e.g sickness, natural disasters, court expenses etc) ________

CODES

1 = Own savings
2 = Sale/lease of property (e.g land, durable goods, livestock, farm produce etc)
3 = sale of liquid assets e.g shares, bonds, treasury bills
4 = Seek assistance (free) from relatives, friends and well wishers
5 = Raise money through Harambees (fund raising)
6 = Borrow from relatives or friends
7 = Borrow from employer
8 = Borrow from money lenders
9 = Borrow from formal financial institution (SACCO, Bank, credit NGOs etc) 11 = Salaries
12 = Insurance
13 = Others (specify) _______________________

CODES FOR A, B, C, D & E OF QUESTION 10

(a) Methods used to save

1 = Keep money in house/shop/pocket [CASH]
2 = Save with individuals (entrusted friends/relatives/suppliers etc) [INDIVIDUALS]
3 = Save in bank [BANK]
4 = Save in other institutions (SACCOs) [SACCO]
5 = Save in local ROSCAs [ROSCA]
6 = Use extra money to buy liquid assets e.g shares, treasury bills, bonds etc [LIQUID ASSETS]
7 = Purchase durable assets (plots, buildings, machines etc) [DUARABLE ASSETS]
8 = Others (specify) [OTHERS]

(b) (i) Reasons for saving in the house/shop/pocket

1 = Available all the time
2 = No limitations on any amount required
3 = Limited or no costs involved
4 = No complicated procedures
5 = No alternative methods (e.g banking facilities)
6 = Easy to track
7 = Other

(b) (ii) Reasons for saving with individuals

1 = The only safe alternative
2 = Less temptations
3 = Limited or no costs involved
4 = No complicated procedures
5 = Establishes closer links - higher possibilities of assistance
6 = Other

(b) (iii) Reasons for saving in banks

1 = Safety
2 = Less temptations
3 = Bank is near/easily accessible
4 = Possibility of getting other services (credit)
5 = Interest earned
6 = Chequing facility
7 = Other

(b) (iv) Reasons for saving in other financial institutions

1 = Safety
2 = Less temptations
3 = Institution is near/easily accessible
4 = Possibility of getting other services (credit)
5 = Interest earned
6 = Other

(b) (v) Reasons for saving in local ROSCAs

1 = Safety
2 = Less temptations
3 = Enhances group solidarity
4 = Enforcement aspect enhances discipline in saving
5 = Low interest on expected loan
6 = Other

(b) (vi) Reasons for saving in form of purchase of liquid asset

1 = Safety
2 = Less temptations
3 = Returns earned
4 = Possibility of using assets as collateral
5 = Easy to convert into money
6 = Other

(b) (vii) Reasons for saving in form of purchase of durable assets

1 = Less temptations (cannot be converted into money easily)
2 = Possible returns through appreciation in value
3 = Service duarable asset provides before re-sale
4 = Other

(c) (i) Purpose for which respondent saves money

1 = Use in emergencies
2 = Use in routine day-to-day transactions
3 = Use in routine monthly expenditures (salaries, rent, electricity etc)
4 = Planned short-term (up to 3 months) investment
5 = Planned long-term (more than 3 months) investment
6 = To earn interest
7 = To build up credit worthiness
8 = To minimize extravagance (thriftiness/temptation to spend)
9 = To pay school fees
10 = For other social obligations (marriage, burial rites, religious rites etc)
11 = To purchase consumer durable (bicycle, car, TV, fridge, etc)
12 = Other (specify)

(d) (i) Number of times in a month deposits are made (indicate actual number of times)

(d) (ii) Number of times in a month withdrawals are made (indicate actual number of times)

(e) How respondent rates the method he/she uses to save

1 = Excellent/very good
2 = Good
3 = Fair
4 = Poor/bad

5 = Very poor/bad

FOR THOSE WHO SAVE IN BANKS

12. Please indicate the following:

a

b

c

d

Bank with which you have an account

Number of Accounts held

Types of accounts

Reasons for such accounts

Reason for choosing this bank

KCB





Barclays bank





Standard





National bank





Co-op bank





Post bank





Other (specify)





13. Please indicate the following regarding the account(s) you operate

Type of account

No. of deposits made per month

Appr. amount deposited per month

No. of withdrawals made per month

Appr. amount withdrawn per month (Kshs)

Current account





Savings account





Fixed deposit account





Other





14. How far is your bank from this premise (in Kms) ________________

15. How do you regard the distance to your bank from this premise? _________________

1 = Very far (a big problem)
2 = Fairly far (not a big problem)
3 = Not far/near/okey (not a problem at all)
4 = Other (specify) _________________________

16. What do you LIKE most about this bank ___________

1 = Nothing
2 = Distance/proximity of bank to house/office
3 = Interest rate on deposits
4 = Interest rate on loans
5 = Minimum balance for opening accounts
6 = Minimum balance required for operating account
7 = Minimum balance for earning interest
8 = Opening hours of the bank
9 = Closing hours of the bank
10 = Flexibility introduced by Automated Teller Machines (ATMs)
11 = Time taken to receive service
12 = Attitude (e.g politeness, concern) of bank officials
13 = Possibility of getting credit
14 = Mobile facilities
15 = Other (specify)

17. What do you DISLIKE most about this bank? __________

1 = Nothing
2 = Distance/proximity of bank from house/office
3 = Low interest rate on deposits
4 = High interest rate on loans
5 = High minimum balance for opening accounts
6 = High minimum balance required for operating account
8 = High minimum balance for earning interest
9 = Opening hours of the bank
10 = Closing hours of the bank
11 = Time taken to receive service
12 = Attitude (e.g rudeness, arrogance, lack of concern) of bank officials
13 = Low possibility of getting credit
14 = High bank charges
15 = Other (specify)

CODES FOR QUESTION 12

(a) Number of accounts (note the actual number)

(b) Types of accounts

1 = Current
2 = Savings
3 = Fixed
4 Other (specify)

(c) Reasons for operating such an account

Current account

11 = Liquidity (unlimited access)
12 = Chequing facilities
13 = Faster services (shorter queues)
14 = Other Reasons (specify)

Savings account

21 = Interest
22 = Lower minimum opening balance
23 = Simpler account opening procedures
24 = Only option available
25 = No apparent reason
26 = Other reasons

Fixed account

31 = Interest
32 = Restricted access (to control extravagance)
33 = Other reasons (specify)

(d) Reasons for choosing bank

1 = proximity/distance from this premise
2 = Stability of bank
3 = Low opening minimum balance
4 = Account opening procedures which are easy to comply with
5 = Known to bank officer(s)
6 = Influence of someone with an account with the bank
7 = Fast service - no long queues
8 = Easy to get credit
9 = High interest on deposits/low interest on loans
10 = No apparent reason
11 = Availability of other special services (e.g money link)
12 = No other bank available

13 = Other reasons (specify)

D: PERCEPTIONS ABOUT THE PROPOSED K-REP SAVINGS SERVICES

K-REP is thinking of introducing savings services among its financial services to MSEs.

Please give us your opinion on the following:

18. Would you open an account with the proposed K-REP bank? ____________

1 = No
2 = Yes

19. If no, please explain

20. What TWO MOST critical things would make you open an account with the proposed K-REP bank;

(a) First consideration _______
(b) Second consideration ____________

CODES

1 = Proximity/nearness of bank to my house/office
2 = Favourable interest rates on deposits
3 = Reasonable interest rates on loans
4 = Low minimum balance for opening accounts
5 = Low minimum balance required for operating account
6 = Reasonably low minimum balance for earning interest
7 = Early opening time of the bank
8 = Late closing time of the bank
9 = Possibility of bank opening during week ends
10 = Fast services
11 = Good attitude (e.g politeness, concern) of bank officials
12 = Possibility of getting credit
13 = Good public image of the bank
14 = Other (specify)
15 = Easy opening procedures
16 = None

21. If you were to open an account with the proposed K-REP Bank, please indicate the following;

(a)

(i) Number of times you would make deposits # ________ per ______
(ii) Approximate amount to be deposited each time Kshs ________________

(b)

(i) Number of times you would make withdrawals # ________ per ______
(ii) Approximate amount to be withdrawn each time Kshs ________________

22. If your were to decide where to locate the bank, which place would you select? ________

1 = Same estate/area
2 = Same town
3 = Nearest town
4 = Outside same area BUT served with a mobile unit
5 = Anywhere safe provided area is well linked with transport services
6 = Other (specify)

23. Why would you select this place as opposed to other alternatives?

1 = Near my office
2 = Near my residential house
3 = Security
4 = Served well by public transport and communication means
5 = Other (specify)

24. How far is this place from this premise? _____________ Kms

25. What days of the week/month would you like the bank to be open? __________

1 = Monday - Friday only
2 = Monday - Friday plus first and last Saturdays of the month
3 = Monday - Saturday always
4 = Monday - Saturday PLUS first and last Sundays
5 = Monday - Sunday always
6 = Other (specify)

26. What would you prefer the opening and closing hours of the bank to be?


Opening hour

Closing hour

Weekdays


Weekends:



Saturdays




Sundays


THANK YOU