Title Text Findings from the FinScope Consumer Survey Dates, authors and references to be placed here Nepal 2014
Partnering for a common purpose Making Access Possible (MAP ) is a diagnostic and programmatic Title Text framework to support expanding access to financial services. The MAP methodology and process has been developed jointly by: Dates, authors and references to be placed here At country level, the core MAP partners, collaborate with other donors to ensure an inclusive, holistic process. In addition to the above MAP members, to formalise the MAP Nepal process, there is a technical committee comprising the following additional members:
FinMark Trust and FinScope • FinMark Trust is an independent trust with the Where : Title Text purpose of “Making financial markets work for the 22 countries - 17 African countries, Pakistan, poor ” across Africa and now in Asia in order to Thailand, Myanmar, Laos and Nepal and currently increase access to financial services for the ongoing in India. unserved and underserved that ultimately lead to the Dates, authors and Objective : development of inclusive financial systems that can references to be placed here benefit all people To measure and profile levels of access to and use of financial services by all adults, across income ranges and other demographics, in order to inform stakeholders and develop policy. • FinScope is a representative study of the usage of and access to financial services. The FinScope survey is used to better understand money matters, with an emphasis on the market needs and attitudes to both informal and formal financial offerings and usage. The FinScope survey further sheds light on consumer behaviour by exploring individuals ’ interactions with the financial sector as a whole
Objectives of FinScope Nepal 2014 Title Text To describe the levels of financial inclusion (i.e. levels of • access to financial products and services – both formal and informal) Dates, authors and references to be placed here To describe the landscape of access (i.e. the type of products • and services used by financially included individuals) To identify the drivers of, and barriers to financial access • To stimulate evidence-based dialogue that will ultimately lead • to effective public and private sector interventions that will increase and deepen financial inclusion
Introduction, background, and context Context of financial inclusion in Nepal… Title Text Nepal is classified as a Least Developed Country (LDC) and • has both low levels of per capita income and a sizable population classified as poor Dates, authors and references to be placed here Farming is a key component of livelihoods management for • many households in Nepal as well as a key income generating activity Nepal has just experienced a catastrophic earthquake, with • devastating effects on infrastructure and its people. These effects will be felt for many years, mainly by the poor Nepal Rastra Bank (NRB) embarked on a strategic five-year • action plan (2012-2016) to undertake a major program to reform the financial sector, highlighting financial inclusion as a strategic priority.
Methodology of the FinScope Study
Sampling and Methodology Coverage and Sample and fieldwork Respondent profile Methodology validation Title Text • Universe: Adult population • Fieldwork conducted from • Sample representative at Dec 2014 – Jan 2015 in Nepal national, regional, and urban/rural Dates, authors and • Nepal residents 18 years and • Questionnaire translated and references to be placed here • Sample drawn using older conducted in Nepalese language probability proportional to population size • 4,014 interviews conducted by • Survey data weighted to IDA Census 2011 adult population • Sample methodology and data weighting by IDA with oversight from FMT . CBS provided the sampling frame
Household population size, area profile 5.4 million households, average household size: 4.9 Unweighted Weighted Title Text Census 18+ adult sampled sampled population population % population % Development region Dates, authors and 1176 29.3 1,230,729 22.7 Eastern 1,230,743 references to be placed here 1230 30.6 1,962,226 36.2 Central 1,962,238 630 15.7 1,065,628 19.6 Western 1,065,599 540 13.5 695,019 12.8 Mid-Western 695,014 438 10.9 469,695 8.7 Far Western 469,703 Ecological region 498 12.4 363,706 6.7 Mountain 363,698 1668 41.6 2,532,023 46.7 Hill 2,532,041 1848 46 2,527,568 46.6 Tarai 2,527,558 Rural/urban 3204 79.8 4,377,722 80.7 Rural 4,377,722 810 20.2 1,045,575 19.3 Urban 1,045,575 Total 5,423,297 4,014 5,423,297 Sample was weighted based on probabilities of selected EAs within each stratum being chosen. These weights were then adjusted to be in line at an overall level with key Census variables
Contents 1. Understanding people’s lives Title Text 2. Financial context : Dates, authors and references to be placed here 3. Conclusions
Understanding people’s lives: Demographics Title Text Gender (%) Age (%) Education (%) Illiterate 25 Dates, authors and 18-24 Literate but 23 13 references to be placed here formally… Pre-primary 1 25 - 39 35 53 Primary 15 47 Lower 12 secondary 40-54 23 Secondary 18 school Upper 11 secondary 55+ 19 Tertiary / 5 Male Female higher 58% of the adult population is aged between 18 and 39. 25% of adults claim to be illiterate. 18% claim to have achieved secondary school as their highest level of education against 5% that claim tertiary / higher education Base: 18 years or older, weighted to adult 18+ Census 2011 population
Understanding people’s lives: Access to infrastructure and media channel use in the past month Title Text Media Channel (Multiple response) % % of individuals with access to toilet 77 % Dates, authors and Radio 58 references to be placed here TV 41 % of individuals with electricity for 5+ hrs / day Newspapers 23 75% Internet 14 % of individuals with inside water supply Magazines 14 67 % Base: 18 years or older, weighted to adult 18+ Census 2011 population
Access to facilities Grocery stores and private money lenders are most conveniently placed for • Title Text those who use them. Fewer Nepalese adults use ATMS or Post Offices • Dates, authors and Time taken to access facilities use / aware of (%) references to be placed here 96 91 82 70 67 57 90 53 79 67 48 30 40 32 Grocery store Private money Point of Market Post Office ATM Bank lender access to public transport Within 30 min Within 1 hour FROM MOST TO LEAST ACCESSIBLE Base: 18 years or older, weighted to adult 18+ Census 2011 population
Understanding people’s lives: Income / livelihoods Income generating activities (%) Main source of income (%) Title Text Own farming 49 Own farming 31 Household member Household member 22 16 Dates, authors and Piece work Piece work 19 11 Own business 19 Own business 12 references to be placed here Remittances 19 Remittances 10 Private company salary 6 Private company salary 4 Farm wages Farm wages 6 2 Government salary Government salary 6 5 Salary/wage from… Salary/wage from… 4 3 Pension / Investments 6 Pension / Investments 3 Government grant Government grant 2 1 Do not get money Do not get money 2 Income generating activity (Multiple response) Main source of income (Single response) Although 49% of Nepalese adults claim to get money from their own farming, 31% claim own farming to be their main source of income Base: 18 years or older, weighted to adult 18+ Census 2011 population
Understanding people’s lives: Personal monthly income Title Text Personal monthly income (%) Regularity of income (%) (US$1 = NPR99.21) Dates, authors and No income 2 references to be placed here 2 40 10 24 Regular monthly 27 income No money Less than NPR6,000 Irregular income 71 NPR6,000-9,999 NPR10,000+ Note: 24% did not provide a response to this question • Only 27% claim to earn a regular income and 2% claim to earn no money • 49% claim to earn money from selling their own produce and another 6% claim to earn farm wages • 22 % claim to get money from another household member and 19% through remittances • 42% reported earning less than approximately US$2 per day and 24% claim to earn NPR10,000 or more a month Base: 18 years or older, weighted to adult 18+ Census 2011 population
Household income Household monthly income (%) Number of people who contribute (US$1 = NPR99.21) to household income (%) Title Text 1-2999 3 40 3000-5999 10 Dates, authors and 6000-9999 12 references to be placed here 10000-14999 16 23 15000-19999 14 19 20000-24999 10 25000-34999 10 10 35000+ 11 3 3 Don't know 11 Refused 3 1 2 3 4 5 6 or more • Most households claim to have between 1 and 3 income contributors • Only 13% of households claim to live on less than US$2 per day • Mean PMI is NPR 9,000 vs. mean HH monthly income of NPR 20,500 Base: 18 years or older, weighted to Census 2011 households
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