Challenges facing equity agency banking; a case of Pokot County, Kenya
Wabwoba, Timothy B
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This study investigated the challenges facing agency banking in West Pokot county: Study of west pokot County was interesting because the researcher was personally inspired to conduct the study by identification of a big number of people without financial access due,lack of traditional bank branches in the region and availability of almost dormant equity bank agents. From literature reviewed, no work had been done on challenges facing Equity agency banking in West Pokot County. The target population for the study consisted of fourty equity agents approved by Central bank and operational. Purposive sampling was used to ensure selection of all 40 agents. The study was conducted by use of Census survey designs. Data was analyzed based on the research questions. Descriptive statistics was used to analyze data. Qualitative data was analyzed by organizing, editing and coding the data into related themes. It was then presented in narratives and interpretive assertions. Data was collected using three instruments: questionnaires for agents , document search was used to get information from the district development office. The finding of the study was analyzed and presented using frequency distribution tables, and percentages. The study found out that mobile phone network failures posted a major challenge to agency banking in the region. From the findings 50% of clients are affected by this problemA0(100%) of agents asked admitted that it was a major problem. Liquidity related problems was also seen as a major problem affecting agency banking with each agent losing atleast 4 clients per week due to the problem. lack of start up capital has also locked up many potential agents from being recruited. The researcher recommends that measures be put in place to improve mobile network in the region since agency banking relies on this networks, also the bank should assist agents to get credit for start up capital and also help in automatically topping up agent float without asking the agent to make a personal visit to the branch to top up, More information and awareness should be put in public to build confidence and trust in agency banking as a secure, efficient and modem way of banking.