Enabling Environment Of Banking Essay Online For Free - Free Essay Example

The purpose of this research was to assess the banking sector in Rwanda and its enabling environment to attract other banks within East African community. The research was carried out in Kenya Commercial Bank and Equity bank with the following research objectives; examining the nature of Rwandan banking industry, identifying the environmental factors in Rwanda that are conducive for banking sector and assessing the strategies that Rwanda banking industry has used to attract other banks within East African community. The researcher reviewed literature related to previous studies carried out in areas related to the topic giving emphasis to the nature of banking industry in Rwanda, environmental factors conducive for environment, strategies used to attract foreign banks and the banking sector in Rwanda. The researcher used descriptive and analytical research while the study population was 126 employees and customers of the selected banks. The sample size of the research was 95 employees from the selected banks. The data collection tools were questionnaires and interview guide while analysis and interpretation of data was done using tables and figures. Data collected was analysed based on the frequencies and percentages of respondents views. The research found out that the banking sector in Rwanda is very good (60%), and 32% described it as good. Meaning that Rwandan banking sector is good enough to attract other commercial banks within East African community, the factors necessary for the attraction of foreign commercial banks within East African Community are security (20%), stable currency (16%), and nature of the banking industry (29%), a wide market (9%) and conducive environment, there is a relationship between banking environment and attraction of commercial banks in Rwa nda (96%) meaning that attraction of commercial banks and banking environment are related. The research concluded that the nature of Rwanda the nature of the banking industry in Rwanda is good enough to attract other commercial banks within East African community and has favoured the foreign commercial banks that opened up in Rwanda from east African region and the environmental factors in Rwanda that are conducive for banking sector in Rwanda included security, stable currency and nature of the banking industry, a wide market and conducive environment. The research recommended that the government of the republic of Rwanda should continue ensuring that the banking environment is conducive by continued supervision and monitoring of the sectors, controlled inflation and stabilising the currency. TABLE OF CONTENTS LIST OF TABLES LIST OF FIGURES LIST OF ABBREVIATIONS ACRONYMS ATM : Automated Teller Machine CAMELS: Capital, Asset Quality, Management, Earnings, Liquidity, and Sensitivity CAR: Capital Adequacy Ratio EAC: East African Community EDPRS: Economic Development and Poverty Reduction Strategy FDI: Foreign Direct Investment FSDP: Financial Sector Development Program GDP: Gross Domestic Product IMF: International Monetary Fund KCB: Kenya Commercial Bank MBA: Master of Business Administration NBR: National Bank of Rwanda RDB: Rwanda Development Board Rwf: Rwandese Franc USA: United States of America DEFINITIONS OF THE OPERATIONAL TERMS Bank A bank is a financial institution that accepts deposits from and extends credit facilities to customers. Banking environment Banking environment refers to the environment in which banks operate in relation to financial policies, security and government laws. Foreign banks Foreign banks refers to banks from outside countries Attraction of foreign banks Attraction of foreign banks refers to the strategies and procedures directed towards making foreign banks coming in the country to join the banking sectors. CHAPTER ONE 1.0 INTRODUCTION In this chapter the researcher presents the introduction to banking sector and the enabling environment to attract other banks. The researcher also presents the background to the study, problem statement and the objectives of the study including general and specific. The chapter further presents the research questions, scope of the study, limitations, significance and the conceptual framework. Environmental turbulence in the modern banking business has forced the banks to adopt strategic reactions for survival and continuity. Banks predominantly react by diversifying their loan portfolio or by stepping up their screening and monitoring. During a financial crisis arranging banks retain larger portions of loans and form more concentrated syndicates, reflecting an increased need to screen and monitor borrowers. During a crisis, agency problems are attenuated in syndicates that lend to repeat borrowers and that are composed by experienced arrangers (Taylor, 2008). A liberalized a nd attractive banking industry especially in developed countries coupled with an increasingly complex and dynamic business environment has created hyper-competition not only in the banking sector but in different industries (Robinson, 1991). With increased labor migration, governments, civil society, and the private sector are now faced with the prospect of attracting more worker remittances, migrant association donations, migrant capital investment, as well as trade opportunities. Governments and businesses need to ask themselves what they can do to help lower the costs of remittances and attract more money. An enabling environment is one that facilitates with ease economic interaction among players. Five factors that enable a particular economic environment are: The presence of a significant number of economic players, communication and networking efforts, readily available information about transactions, policy, business initiatives, and ventures aimed at key economic sectors and resource availability to enhance initiatives and motivate players (Arteaga Jeffus, 2007). Governments and businesses can promote initiatives that not only address cost reduction in the transfer of remittances, but also enable other elements of an economic environment that is attractive for migrant transfers of various kinds (Watson and Tony, 1998). Attracting foreign investments are one of the driving forces of the process of globalization and are a defining element of the modern-day world economy. Foreign commercial banks promote the restructuring of industry at the regional and global levels and thus ensure the integration of a national economy into the world economy more effectively than trade (Williamson, 1996). 1.1 Background to the Study Industry competition involves business firms which compete for the same customers. This means therefore that if new markets are not created the number of customers would decline with the declining profitability of the firms in the same industry. Industry environment factors directly influence a firms prospects and they include; entry barriers, competitor rivalry, availability of substitutes and the bargaining power of buyers and supplier, among others. For companies in competition against one another, the external environment constitutes the industry within which the firm operates (Taylor, 2008). Competitive strategies involve the changes in a firms strategic behaviours to assure success in transforming the future environment. They therefore, constitute a set of decisions and actions that result in the formulation and implementation plans designed to achieve a firms objectives. It is a reaction to what is happening in the environment. Equally they involve the changes in a firms strategic behaviours to assure success in transforming the future environment. Ideally, the company gains competitors customers by taking over part of the competitors market share attracting non users of the product, at the same time encouraging current customers to consume more of the product and this forms the basis for market penetration strategy (Arteaga Jeffus, 2007). Rwanda has steadily reformed its commercial laws and institutions since 2001 with support from the World Bank. Rwanda made the biggest-ever improvement in the Doing Business reform category by jumping 76 places in one year, ranking 67 out of 183 countries in the 2010 report. The financial sector is also healthier, and together this progress reflects:   Reforms have been adopted   in 7 of the 10 doing business topics, major laws were prepared and adopted, including a company law, a secured transactions law, an insolvency law, a labor law, a law establishing the commercial courts, and another estab lishing the commercial registration agency. A Doing Business unit has been set up within the Rwanda Development Board (RDB) and is effectively leading the preparation and implementation of the investment climate reform agenda through enhanced public-private dialogue. The one-stop center in the RDB is also more effective. As a result, it is now easier, faster and less expensive to do business in Rwanda; Time to start a business was cut from 14 days to three days and the number of procedures was cut to two from eight. The cost of starting a business has dropped from 109 percent to 10 percent of income per capita between 2008 and 2009, time to register a property was reduced to 60 days   from 371 days and the cost to register property dropped from 9.6 percent of property value to 0.5 percent between 2007 and 2009, time to import was reduced from 42 to 35 days, and time to export was reduced from 42 to 38 days between 2008 and 2009, fiscal administrative procedures for busines ses are being streamlined and the Value Added Tax law amended, resulting in the reduction in the number of tax payments from 34 to 26 and reduction in time to prepare, file tax returns and pay taxes from 160 hours to 148 hours between 2009 and 2010 (NBR, 2011). All banks in Rwanda earned substantial profits in the first quarter of 2011, registering the strongest recovery from a dire 2009, the year that was characterized by high interest expenses and billions of bad debts, followed by a net loss of Rwf 300 million last year. However, things turned around in 2012 with a robust rebound in the financial industry, awarding banks with high profits in contrast to the pain they endured during the financial meltdown. In fact banks should maintain their optimism because Central Bank increases credit designated for the private sector by 20 percent(Independent newspaper, 2nd June 2011). The good performance in the industry is a result of a prudent fiscal policy for the last five years and increasing lending to stimulate economic growth. The current growth has not been hampered by the Central Banks tight rules that govern the financial game in Rwanda. Banks work in an austerely monitored environment, but there have been a series of monetary easing measures of late. For example, the Central Bank in 2010 massively slashed its key repo rate the rate at which it lends to commercial banks to a record low of six per cent from nine per cent in 2009. This development came on the heels of a stimulus package of Rwf20.21 billion in the banking system in 2010 in addition to Rwf14.51 billion that was spent a year earlier in form of short and long term deposit liquidity facilities to banks (NBR, 2011) Commercial banks, especially the East African Community banks including Equity and KCB banks from Kenya are fighting for more business case in Rwanda. The competition is more on savings account and credit accounts as these are seen as the main cash cows in the banking industry. Th e success in the Rwandan business environment is attributed to the conducive banking environment in the banking industry (National Bank of Rwanda [NBR], 2001). 1.2 Statement of the Problem Competition, both national and international, is increasing in virtually every industry. The key features and the implications of this trend are outlined with specific reference to the banking and financial services industry. The competitive strategy for the banking industry has largely been the identification of potential market niches and segments which could be developed. Due to globalization and liberalization in the world, economies have seen more firms entering into the global markets in general and in the banking industry particularly in upcoming markets. Rwanda government in its process of economic development through conducive climate for investment has attracted many businesses in commercial banks to invest in the country. A liberalized banking sector in Rwanda has witnessed increased competition in the banking industry in Rwanda. More banks especially from foreign countries such as Equity, Kenya Commercial Bank from Kenya, Fina Bank, Access Bank and Eco Bank from Nige ria have invaded Rwanda`s banking sector. In addition to this there are more financial institutions still entering into Rwanda. With the increased competition commercial banks in Rwanda are experiencing a strain on their market share and hence their profitability (NBR, 2009). This means that the banking sector of Rwanda has managed to attract many foreign banks especially from East African community. However the extent to which it has attracted the foreign commercial banks from East African needs to be ascertained. It is therefore, against the above background that the researcher carried out this research and assesses the banking sector in Rwanda and its enabling environment to attract other commercial banks from East Africa. 1.3 Objectives of the study 1.3.1 Main objective The main objective of this research was to assess the banking sector of Rwanda and its enabling environment to attract other commercial banks within East African Community. 1.3.2 Specific objectives of the study The specific objectives of this research were the following;- To examine the nature of Rwandan banking sector ant its environment To identify the environmental factors in Rwanda that are conducive for banking sector. To assess the strategies that Rwanda banking industry has used to attract other banks within East African community. 1.4 Research questions The research question included the following:- What is the nature of Rwanda banking sector and its environment? What are the environmental factors in Rwanda that are conducive for banking sector in Rwanda? What are the strategies that Rwanda banking sector has used to attract other commercial banks from East African community? 1.5 Limitations of the research To every research, process or activity, there are always challenges along the way that tend to disrupt the process. In as far as this research is concerned, the researcher faced the following challenges but was much prepared to handle them and produced a quality research report. Firstly the researcher faced a situation where some of the respondents took long to believe in the purpose of the research. This made them refuse or hastate to fill the questionnaire or accept the interviews. However the researcher did whatever it needed to convince them beyond doubt that the research was purely academic and they provided the required data. In most cases senior management in banks were so busy with work and therefore had limited time to fill questionnaires. However, considering and knowing their situation, the researcher made all the possible appointments with them until they got time for interviews other than questionnaires which took long. The researcher also faced a situation wh ere it was difficult to assess the required literature for the research. However, the researcher was more prepared to do visit all the possible places like libraries, book centers and internet in order to assess a wide range of data. 1.6 Scope of the research 1.6.1 Content scope In carrying out this research, the researcher ensured that the original purpose of the research is not diverted and therefore focused on the Rwandan banking sector and its enabling environment to attract other banks within East African community. 1.6.2 Geographical scope The research was carried out in Equity bank and Kenya Commercial Bank as some of the two foreign banks from East African community. The researcher concentrated on the main branches of the selected banks located in the centre of Kigali City. 1.6.3 Time scope The element of time is very important in the research process because it makes the research more clear and specific. This researcher therefore considered the period from 2009 to 2012. 1.7 Significance of the research The research into Rwandan banking sector and its enabling environment to attract other commercial banks within East African Community will be significant to various sections of people and institutions in various ways among which the following will be included; Submission of the research report is a requirement of Mount Kenya University. Therefore upon its submission the researcher will be allowed to graduate with a Masters Degree in Business Administration Accounting and Finance option. The researcher will also be able to widen understanding in the field of banking and the environmental factors necessary to attract foreign banks. Future researchers in the field of banking will use the knowledge of this research when carrying out research in the related areas. They will be able to widen their understating and make themselves familiar with the banking sector. Equity and KCB Banks will use this research to identify the necessary environmental factors for attracting foreign ba nks and be able see which one they have exploited so far. They will also be able to know far they can fully exhaust the opportunities in Rwanda banking sector. Other foreign banks in Rwanda will also use the knowledge from this research to fully understand the Rwandan banking sector and how they can best exploit it in order to outwit their competitors. The government of Rwanda will use this research to know how far foreign banks understand and appreciate the opportunities in the Rwandan banking sector. This will help the government in providing areas where to base in making future policies related to the industry. Last but not least future investors in banking industry will benefit from this research by knowing the opportunities in Rwanda banking environment that can be exploited to their best advantage. CHAPTER TWO 2.0 LITERAURE REVIEW 2.1 Introduction In this chapter, the researcher reviews literature related to the banking sector, environmental factors that are conducive for banking sector and the strategies that are used to attract foreign banks. The chapter finally presents the summary of the chapter. 2.2 Review of past studies The global financial crisis of 2009 has had a profound impact on banks of all sizes. Institutions grapple with reduced public confidence, heightened shareholder scrutiny and increased regulatory oversight. Troubled banks have been in need of government assistance, intervention and various stimulus packages. Many institutions need to divest certain businesses, while others struggle to fully integrate recent acquisitions (Foley, 2000). Throughout the financial crisis, troubled banks have been in need of government assistance. Intervention and various stimulus packages included everything from the full nationalization of banks in certain countries to modest capital infusions. Other intervention measures incorporated asset purchases as well as liquidity support and guarantee programs. Many institutions need to divest certain businesses, while others struggle to fully integrate recent acquisitions (Gordon, 2011). Banks hit hardest are cleaning their balance sheets and protecting a ssets. Those who fared relatively well are reshaping their business and governance models. The current market turmoil will likely yield positive outcomes as banks reassess the way they do business and learn from these lessons the crisis brought to bear: Improve the way risk is managed across the enterprise, recognize that liquidity is crucial, commanding center stage, look at streamlining businesses by returning to core competencies and seize opportunities through strategic acquisitions, when possible (Emerson, 2007). To effectively manage risk across the enterprise, organizations must define their risk appetite, embed a risk-aware culture and institute more robust risk forecasting and stress-testing. In addition to risk management, liquidity is the focus of attention among executives, boards and regulators. Failing to manage liquidity properly can result in significant reputational damage or worse, insolvency. The fallout from the economic downturn has left banks struggling with other issues key to recovery, including tax and expense management; data quality in risk and finance; and greater regulation and government intervention. The industry response varies by institution. One thing is clear: the financial services industry is in a state of constant flux. Forward-looking institutions understand that formalizing processes and systems whether for risk management, liquidity risk or performance improvement is necessary to support strategic decision-making and prepare for the unexpected (Aslett, 2003). 2.2.1 The nature of the banking sector A bank is an institution which deals in money and credit. It accepts deposits from the public and grants loans and advances to those who are in need of funds for various purposes. A bank is a financial organization where people deposit their money to keep it safe. A bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly or through capital markets (Glover, 1986). Banking is an activity which involves acceptance of deposits for the purpose of lending or investing. In addition to accepting deposits and lending funds, banking also involves providing various other services along with its main banking activity. These are mainly agency services, but include several general services as well (Casu Girardone, 2009). A banker is one who undertakes banking activities, accepting deposits and lending money for different purposes. Banking is an activity of accepting funds from the public for th e purpose of lending or investment. The essential features of banking activities are as follows:- accepting deposits from public, lending or investment of such deposits, incidental to the activities of accepting deposits for lending or investing, banks undertake activities like promoting and mobilizing savings of the public, providing funds to trade and industry by way of discounting bills, overdraft, cash credit facility, and transfer of funds from one place to another, Providing agency services to customers, such as collection of bills, payment of insurance premium, purchase and sale of securities and other general services, such as issue of travelers cheques, credit cards, locker facility (Gordon, 2011). Money deposited with the bank is assured as far as its safety is concerned. Further the depositor is allowed to withdraw it whenever required. Banks allow interest on deposits. Such interest helps in the growth of funds deposited with the bank. Thus the rate of interest provid ed on deposits acts as an incentive to the depositors. Banking activities are considered to be the life blood of the national economy. Without banking services, trading and business activities cannot be carried on smoothly. Banks are the distributors and protectors of liquid capital which is of vital significance to a developing country (Arteaga Jeffus, 2007). Efficient administration of the banking system helps in the economic growth of the nation. Banking is useful to trade and commerce. Banking activities are useful to trade and industry in the following ways. Money deposited in a bank remains safe. Precious articles too can be kept in the safe custody of banks in lockers, banks provide credit facilities to their customers. Customers with bank accounts also enjoy better credit in the business world, banks encourage the habit of saving and thrift among people, and they mobilize savings and invest them in productive activities. Thus, they help in increasing the rate of savings and investment in the country. Banks provide a convenient and safe means of transferring money from one place to another and facilitate business dealings/ transactions. Banks collect and realize bills, cheques, interest and dividend warrants etc. on behalf of their customers and foreign trade is facilitated considerably with the help of banks (Aslett, 2003). There are several types of banks, which differ in the number of services they provide and the clientele they serve. Although some of the differences between these types of banks have lessened as they begin to expand the range of products and services they offer, there are still key distinguishing traits. Commercial banks, which dominate this industry, offer a full range of services for individuals, businesses, and governments. These banks come in a wide range of sizes, from large global banks to regional and community banks. 2.2.2 Environmental factors conducive for the banking sector. In recent years, potential environmental liability has had a growing influence in the banking industry. Many banking institutions have adopted environmental risk management programs through the assistance, guidance, and/or requirements provided by various organizations. However, while environmental factors are growing in importance, the systematic use of environmental information throughout the banking industry is still not widespread. One possible cause of this is the lack of widely available, accurate, and comparable information that can be used by the banking industry (Cameron, 1995). Vigorous and sustained economic growth, fuelled by investment and entrepreneurship, is needed for the private sector to create more jobs and increase incomes of the poor. In turn, this will generate the revenues that governments need to expand access to health, education and infrastructure services and so help improve productivity. Various governments need to put in place measures that can attra ct foreign investment. Security should be improved, taxes and foreign policies streamlined in order to assure investors that their money will be put to effective use. But in many developing countries, investment rates are too low, productivity gains are insufficient, incentives for innovation are inadequate, returns on investment are not sufficiently predictable, and not enough secure, safe and adequately paid jobs are being created in the formal economy (Radelet Bhavnani, 2004). Developing countries and their donor partners consequently need to do much more to address the market failures and structural impediments that are holding back productive investment (both domestic and foreign), and to do it better, for longer periods and in a more strategic way. This will instill confidence in the minds of international investors who will then realize a need for enjoying such opportunities. Various countries in Africa have adopted privatization policy and are now encouraging foreign inv estment including banks (Arteaga Jeffus, 2007). Developing countries can help foster an investment climate that enables the private sector to flourish and fulfill its role as the main engine of growth. To do so, they can pursue macro-economic stability, improve the functioning of market-regulating institutions and strengthen procedures for contract enforcement and dispute settlement. Developing country governments can also improve the coherence of their policies in a range of areas such as trade, tax, competition and investment promotion that affect the volume of investment and its development impact. In Africa and East Africa in particular their many international banks that have opened doors, signifying that there is enabling climate that is attracting foreign commercial banks (Migliorisi Galmarini, 2004). Reforming the investment climate requires political will, drive and leadership to take on entrenched interests and inertia. Development agencies need to stay the course and support change agents within the public and private sectors and civil society. Development agencies also need to change the way they do business. They need to have access, individually or collectively, to an appropriate range of aid instruments. Their internal systems should not work against staff pursuing longer-term and riskier interventions. Staff working on the range of subjects relevant for promoting investment should be well co-ordinated. More of the goods and services that development agencies procure can be sourced on competitive terms in developing countries, to support local private sector development. Finally, public sector partners in developing countries can be encouraged to engage more with the private sector, such as through public-private partnerships (Radelet Bhavnani, 2004). The Government of Rwanda with the technical and financial support of its partners each year undertakes to develop an economic and financial program to ensure the short term implementat ion of the medium term program stated in the Economic Development and Poverty Reduction Strategy (EDPRS) is translated into tangible outcomes within the economy. Within the banking industry the National Bank of Rwanda (NBR) has ensured that financial institutions operating within the industry are on track as far as ensuring the smooth running of the economy is concerned. In this regard has been restructured the management of banks operating in Rwanda for the purpose of ensuring the sustainability of the industry. As a result of this restructuring the country is confident that the practice of banking in Rwanda is now conducted in a more professional way. Â  The new monetary policy reform which is one of the key components of the macroeconomic reform program falls within the responsibilities of the National Bank of Rwanda. It aims at creating an environment that is conducive to fostering production and investment within the entire economy through ensuring macroeconomic s tability. The National Banks action is thus geared towards building financial stability within the national economy while deepening the financial system. I take the opportunity to request the media and other stakeholders to work on encouraging Rwandans to use banking services by creating awareness about the importance of banking.   We will keep the banking system growing and contributing to the sustained economic growth of the country. Said the governor of National Bank of Rwanda. Exchange Rate Policy, NBR has continued to sell foreign exchange to the market in order to smoothen Rwandan Franc exchange rate fluctuations and to ensure that Rwandas exports remain competitive. The daily reference rate is more market driven as the interbank foreign exchange market develop. A code of conduct was shortly be in place after ratification by all banks as well as formation of a dealers association; this will guide banks in day to day interbank operations. It is recommended to all comm ercial banks to acquire a Reuters dealing platform in the near future and post their daily exchange rates to their websites where possible. Banking Licenses, According to the Governor, NBR has set a new licensing policy.   NBR encourages regional Banks to come to Rwanda looking to merge with the small local banks in Rwanda instead of starting a fresh. They are also encouraging them to open new branches in rural areas instead crowding Kigali City which has enough banks already. The major requirements in starting a bank are a minimum of Rwf 5 billion and a business plan. The governor added. Financial sector deepening, the ongoing programs to implement the Financial Sector Development Program (FSDP) will be accelerated and most of them completed this year. This system will cover the banking system and MFI sector reforms, the capital market development, the non- bank financial service regulation and the modernization of the payments system (Aslett, 2003). Banking sector Reforms, The main priorities this year will include the full application of Risk Based Supervision and improved use of CAMELS benchmarks continued on site review of banks risk management processes and practices (Risk Management Program for Banks), the inclusion of the market risk component in the solvency ratio. Non banking financial sector, this year NBR continued to intensively draft laws so as to establish a more complete legal and regulatory framework for the supervision of the insurance sector, pension industry and other collective investment schemes. The legal instrument to be put in place include ; Regulations and Directives provided within the Insurance law, Insurance contract law, Mandatory insurance law, law regulating pension funds (public and private) and a law governing collective investment schemes, mainly mutual funds, unit trusts and investment companies (Independent news paper, 2nd June 2011). 2.2.3 Strategies used to attract foreign banks Many governments have tried to attract and encourage foreign investment through tax subsidies and tax holidays. Over the past few decades time-series econometric analysis and numerous surveys of international investors have shown that tax incentives are not the most influential factor for multinationals in selecting investment locations. More important are such factors as basic infrastructure, political stability, and the cost and availability of labor. The openness or internationalization of financial services is a complex issue as it is closely related to structural reforms in domestic financial sector with some perceived implications to macroeconomic stability (Migliorisi Galmarini, 2004). Foreign bank entry increases the efficiency of the domestic banking sector. Increased competition tends to reduce costs and to increase profits. The allocation of credits to the private sector may be improved since it is expected the evaluation and pricing of Credit risks to be more sophis ticated this may help foster higher. The presence of foreign banks helps build a domestic banking supervisory and legal framework, and enhance the overall transparency. In order for most governments to attract commercial banks from other countries to come and enjoy business, they improve security and equal investment opportunities. Independent institutions to regulate investments are set up in various countries for example the Rwanda Development Board. Such institutions provide relevant information regarding investing in the countries to prospective investors from other countries. It is through these institutions that foreign investors develop trust and confidence to do business in the country (Gordon, 2011). It is expected foreign banks to provide more stable sources of credit since they may refer to their parents for additional funding and they have easier access to international markets. Thus, domestic financial markets will be less vulnerable to domestic. Foreign banks may reduce the costs associated with recapitalizing and restructuring banks in the post-crisis period. Most of the investors need to know the steadiness and stability of the countrys currency in relation to the dollar. This assures investors that investing in such a country an activity worth a business and that their business will yield some profits and justify participation in such a sector (Galmarini, 2004). In most cases when decisions related to foreign investments are being made concern is given to Liquidity, that is, how liquid is the investment. Exchange rates and leverage of exchange rates, Tax implications tax havens or rates of tax in foreign country, Political stability how stable is the political front for example Zimbabwe is very unstable and therefore few commercial banks would go to there for business. Therefore for governments to attract commercial banks they need to put them in place and satisfy the foreign investors that the market is safe (Chowdhury, 2009). 2.3 Critical review (Gap analysis) The study will seek to identify how the banking sector in Rwanda and its environment as independent variable have been able to attract other commercial banks in East African region (Aslett, 2003). How the policies of the National Bank in Rwanda have favored and pulled other commercial banks from the region to come and participate in the banking industry. The researcher will further asses the gap between the two variables and cover the gap between the variables and the impact that analyses out the penetration of other banks in the banking sector of Rwanda. Foreign bank penetration can have several positive as well as negative implications for emerging and transition countries. On the positive side, foreign bank management practices and information technology may improve the efficiency of the domestic banking system, both directly and indirectly by competing with domestic financial institutions. Also, foreign banks may start to offer new financial services, may stimulate better re gulation, accounting standards and the financial and legal structure more broadly, and may also attract (other) foreign direct investments (FDI). Additionally, a growing supply of foreign bank credit can reduce the costs of obtaining loans for domestic firms. Importantly, foreign banks will be more independent of the local government and may have less incestuous relations with domestic firms. Lastly, well-capitalized foreign banks may be able and willing to keep lending to domestic firms during adverse economic conditions, as opposed to domestic banks which will possibly lower their credit supply (Gordon, 2011). On the negative side, foreign banks might just as well be less inclined to keep up their credit supply in the host country, for instance when the economic environment in their home country deteriorates. Another source of concern is that foreign banks may only provide credit to the large and often foreign owned (multinational) firms, leaving the bad corporate credit risks as well as the retail market and the related payment services to domestic banks (cherry picking). Lastly, foreign bank penetration, whether cross-border or by means of local subsidiaries, may weaken the position of the (less sophisticated) domestic banking system. Domestic banks that are not able to cope with the increased competitive pressures may for instance fail and lead to periods of severe financial instability (Taylor, 2008). Some pros and cons are exclusively related to a specific form of entry: through local subsidiaries or cross-border. Only by buying a subsidiary can a foreign bank provide new funds to recapitalize a troubled banking sector. Additionally, such subsidiaries can in times of crisis operate as a safe haven, and thus reduce the flow of domestic funds abroad as residents can now do their capital flight at home. Finally, cross border credit by foreign banks may lead to specific problems of financial instability. 2.4 Conceptual framework Global banks are involved in international lending and foreign currency trading, in addition to the more typical banking services. Regional banks have numerous branches and automated teller machine (ATM) locations throughout a multi-state area that provide banking services to individuals. Banks have become more oriented toward marketing and sales. As a result, employees need to know about all types of products and services offered by banks. Community banks are based locally and offer more personal attention, which many individuals and small businesses prefer. In recent years, online banks which provide all services entirely over the Internet have entered the market, with some success. However, many traditional banks have also expanded to offer online banking, and some formerly Internet-only banks are opting to open branches (Chowdhury, 2009). Globalization has rendered international expanding activities increasingly important for the survival, growth and success of modern firms. Simultaneously, the banking industry has been undergoing major consolidation in recent years, with a number of global players emerging through successive mergers and acquisitions and going international to look for further investment opportunities (Drogendijk Hadjikhani, 2008). Competition is generally considered a positive force in most industries, it is supposed to have a positive impact on an industrys efficiency, quality of provision, innovation and international competitiveness. However, this issue has always been controversial in banking, as the perceived benefits derived from increased competition have to be weighed against the risks of potential instability. Within this fluid business environment, which is characterized by international mergers and acquisitions and extreme competition between the enterprises, the internationalization of banking work is a subject of major importance for researchers and economists (Germanidi, 1982). The financial crisis and the subsequ ent distrust of the existing banks have created an opportunity for new competitors to enter the market for financial services. An international bank is able to adopt for its presence in a country various forms. More specifically the Creation of representative office is the simplest form of extension, as it formed for an initial investigation of the foreigner banking market. The banks branches of this form do not handle any funds neither they execute financier transactions, while the bank that they represent, is not considered present in the foreigner country, either legally or for tax reasons (Glover, 1986). Globalization is the universal trend in economic markets and the focal point in the twenty-first century. Banking organizations shifted from highly centralized domestic organizations to dispersed global organizations. The main profit of the internationalization of banking work is the increase of the surplus of consumers. For the banking services the surplus of consumer is inc reased when the interest rate of sponsoring is decreased, while the interest-rate of deposits increases. More specifically, for a healthy competition, the profit in question is maximized, after it increases the interest-rates of deposits by decreasing the interest-rates of sponsoring and the cost of supplies (Gordon, 2011). A second profit from the internationalization of banking work is that the international banking extension increases the effectiveness of international capital by improving and their flow. This means that, the effectiveness of distribution of capital brings in economic contact lenders and borrowers from different countries. Another profit from the internationalization of financier markets, is the increasing degree of convergence of interest-rates of domestic market with those that exist in the Euromarkets. At the same time, the internationalization of financier markets leads to the weakening of the phenomenon of deportation of private investment in the public s ector, as in an environment of free market of capital, the prevention of the private investments from the state, is compensated, relatively easily, with the foreigner saving capital (Aslett, 2003). The cost from the internationalization of banking activities is found in the loss of income for the countries, as the internationalization of work leads to the escape of capital to countries where the committed deposits have higher interest or still, the central bank of that country keeps smaller compulsory percentage of capital from the commercial banks. Banks have an important role in an economy: they are intermediaries between people with shortages and surpluses of capital. Their products include savings, lending, investment, mediation and advice, payments, guarantees, and ownership and trust of real estate. These core activities generate two principal sources of income: interest earnings and provision earnings. In the first case, a bank is working on its own behalf and risk; and in the second case on behalf of and at the risk of its clients. It is usual to distinguish between different banking departments such as investment banking, commercial banking, corporate banking, private banking, trade finance, electronic banking, securities, financing and loans, savings and so on. Some banks specialize in one or more of these areas. Universal banks usually cover all activities (Glover, 1986). As one of the worlds largest economic sectors, and as one that reaches virtually every consumer and business, the financial services industry must be involved in mitigating climate change and its impacts. At the same time, banks face an immense but yet largely untapped opportunity to enter new markets and develop more efficient and environmentally sound industries that will benefit generations to come, while preserving their longstanding leadership role in wealth and capital formation. Banks have the reach, influence and access to capital required to lead the changes needed t o transform the industry (Arteaga Jeffus, 2007).. Figure : Conceptual framework Independent variable Dependent variable Enabling environment Political stability Macro economic policies Infrastructural developments Attraction of commercial banks Business opportunities Secure environment Market availability Impact Bank rate Financial exchange platform Controlled inflation Legal reserve Source: Researcher 2012 2.5 The Banking Sector in Rwanda The Government of Rwanda with the technical and financial support of its partners each year undertakes to develop an economic and financial program to ensure the short term implementation of the medium term program stated in the Economic Development and Poverty Reduction Strategy (EDPRS) is translated into tangible outcomes within the economy. Within the banking industry the National Bank of Rwanda (NBR) has ensured that financial institutions operating within the industry are on track as far as ensuring the smooth running of the economy is concerned. In this regard has been restructured the management of banks operating in Rwanda for the purpose of ensuring the sustainability of the industry. Recent developments in the financial sector highlight the importance of implementing bold strategies to mobilize domestic saving to increase the capacity of the domestic financial system to be in a position to meet the increasing demand of credit to finance big investment projects in the p ipeline (IMF, 2005). The government of Rwanda has tried as much as possible to improve security, stabilize the currency, and creating a conducive climate for foreign investor. Many banks have opened doors in Rwanda and are appreciation the industry. The country is looking forward to receive more foreign banks from East African community and beyond. In 2011, Rwandas economy evolved in a challenging international and regional economic environment. The world economy was marked by high oil and food prices, a sovereign debt crisis in the Euro zone and a debt ceiling crisis in the USA, while in the East Africa sub-region, inflationary pressures have been increasing at a very high pace, never recorded in the last decade. In the EAC region, inflation continued to rise in 2011 mainly owing to the increase in oil and food prices. In December 2011, on annual basis, inflation hit 27.0 percent in Uganda, 18.9 percent in Kenya from respectively 3.1 percent and 4.5 percent in December 2010. During the same period, headline inflation reached 19.8 percent in Tanzania and 14.9 percent in Burundi from 5.6 percent and 4.9 percent in December 2010 respectively (NBR, 2001). Similarly, inflation in Rwanda has been increasing as well but maintained at moderate levels. The annual headline inflation reached 8.3 percent in December 2011 from 0.23 percent in December 2010. Moderate inflation has been achieved due mainly to good harvest that kept domestic food markets stable, a relatively stable exchange rate, as well as well coordinated Government policies to mitigate the exogenous inflationary pressures. Despite the challenging international and regional economic environment, Rwanda managed to sustain dynamic economic activities in 2011, recording high performance in all sectors. Real GDP growth is estimated at 8.8 percent higher than 7.0 percent initially projected and 7.5 percent achieved in 2010. This growth was driven by agriculture sector (+8.2 percent) reflecting the i mpact of ongoing Government reforms and favorable climatic conditions. It was also pushed by the industry sector (+15.1 percent) and services sector (+8.5 percent) both boosted by significant improvement in credit market conditions. The dynamism in the Rwandan economic activities was also marked by a strong improvement in the external sector. The export sector in 2011 continued to perform better, sustained by traditional exports; where formal exports of goods covered 23.8 percent of imports in 2011, from 18.3 percent in the previous year, as a result of more rapid increase in exports. Indeed, exports value increased by 52.8 percent against 17.3 percent for imports. The National Bank of Rwanda has continued to maintain a prudent monetary policy and exchange rare in the economy that has continued to put confidence in the minds of the business community. The banking sector demonstrated positive stance with an increase in the balance sheet of 24.5 percent. The sector has been p rofitable, liquid and well capitalized to sustain growth but also resilient to external shocks as a result of strengthened legal, regulatory and supervisory framework. For instance, the Capital Adequacy Ratio (CAR) increased to 27.2 percent in 2011 from 24.4 percent 2010.This is well above the minimum required Capital Adequacy ratio of 15%, which shows the stability of the financial sector (NBR, 2001). 2.6 Summary In this chapter, the researcher presented literature related to banking sector, environmental factors necessary for attracting foreign commercial banks in the country, the researcher gave emphasis to the nature of banking sector and the strategies that are used to attract foreign banks in the country. The researcher through theoretical review of literature identified the areas related to attraction of foreign commercial banks in Rwanda that other researchers never covered. The researcher also identified the areas the through which the central bank of Rwanda has been instrumental in the attraction of foreign commercial banks through provision of a stable, free and secure banking environment in Rwanda. The relationship between the research variables and how they relate was also reviewed through the conceptual fragment and the reluctant effect was presented. CHAPTER THREE 3.0 RESEARCH DESIGN AND METHODOLOGY 3.1 Introduction This chapter discusses the different methods that the researcher used in carrying out the research. It presents the type of research design that was adopted by the researcher, the population of the research, sample size and sampling techniques. The chapter also presents data collection tools like the questionnaires and interviews together with the sources from where data was got. The chapter further gives the methods of data presentation, analysis and interpretation, the ethical considerations of the research together with validity and reliability. 3.2 Research Design A research design is the arrangement of conditions for collection and analysis of data in a manner that aims to combine relevance to the research purpose with economy in procedure or a conceptual structure within which research conducted (Kothari, 2011). The researcher adopted descriptive and analytical research designs in order to ensure sufficient information and clarity of the research. The researcher based the research on both numerical and non numerical data meaning that it was both qualitative and quantitative. 3.3 Population According to Kothari (2001), the population in a research refers to all items in a unit of inquiry. The population of the research was 151 including 68 employees of KCB and 58 employees of Equity bank main branches located in the centre of Kigali city, 25 senior employees from National Bank of Rwanda were also be considered. Respondents were selected using purposive sampling technique to ensure that respondents with relevant data are contacted. 3.4 Sampling and Sample Size Sample size refers to the number of items to be selected from the population to constitute a sample (Kothari, 2011) The sample size of the study was selected using the Slovins fomula n ÃÆ' ªÃƒâ€¦Ã‚ ¾Ãƒâ€¦Ã‚   N/ (1+Ne2 ), where n is the sample size, N the population and e is the sampling error. (Adanza, 1995). Therefore, the sample size was 126/(1+126(0.0050.005) meaning that the sample size was 95 employees from Kenya Commercial Bank (50) and Equity bank (45) main branches. A sample size of 25 employees from National Bank of Rwanda was also considered. Purposive sampling technique was employed to select relevant respondents. 3.5 Data collection This refers to the instruments, tools or techniques that are used to collect data from different sources both primary and secondary (Kothari, 2011). This refers to the tools and instruments that the researcher used to collect the data for the research. These included questionnaires, interview guide and documentary review. To ensure validity and reliability of the data collected, data collection tools were clear, reliable, accurate and measurable. The researcher made sure that the instruments were free from bias. 3.5.1 Questionnaire The researcher designed clear questionnaire containing closed and open ended questions which were given to respondents to give their views about the study topic. The procedure for administering questionnaires included introduction, telling respondents the purpose of the study and requesting them to express their views about the study topic. 3.5.2 Interview Guide As earlier said, the researcher expects to hold short interviews with respondents who were not having enough time to fill questionnaires. The researcher did this with the help of interview guide. 3.5.3 Documentary Review This included reviewing written documents from different libraries, book centers and internet. 3.6 Sources of Data The researcher collected data from both primary and secondary sources. The researcher considered both sources as necessary to make the researcher clearer. 3.6.1 Primary Data This refers to data collected a fresh and for the first time and thus happens to original in character (Kothari, 2011) Primary data is data collected directly from the source; it is normally referred to as the original data. The researcher used questionnaire and interviews to get this data directly from respondents. 3.6.2 Secondary Data This refers to data that has already been collected by someone else and which has already been passed through the statistical process (Kothari, 2011) Secondary data is data that is got from written documents like text books, internet, journals and reports. The researcher got this data through the process of documentary review. 3.7 Data Analysis and Interpretation The researcher presented the collected data extracted from questionnaire and interview guide using table and various figures including graphs and pie charts. The presented data was later analysed and interpreted based on the frequencies and percentages of respondents views. 3.8 Ethical Considerations In the process of carrying out the researcher, the researcher maintained a cordial relationship with respondents, remained honest, genuine and focused to the research objectives. As a person of integrity, the researcher did not undertake research for personal gain, nor did the research have effect on others. Information from respondents was treated with confidentiality. CHAPTER FOUR 4.0 DATA ANALYSIS, PRESENTATION AND INTERPRETATION 4.1 Introduction This chapter deals with presentation, analysis and interpretation of the information given by respondents into more useful form that can facilitate decision making. The researcher presents the data by the help of tables and figures. The frequencies and percentages of respondents views were used to analyse and interpret collected data. 4.2 Social demographic characteristics of respondents The researcher analysed the age, education and experience of respondents in order to find out whether data was corrected from knowledgeable, mature and experienced respondents and can be trusted or not. Figure : Age of respondents Figure 2 presents the range of respondents age, in order to determine how old respondents were since are and maturity are related and views normally correspondent with respondents age Source: Primary data 2012 From figure 2, 75% of contacted respondents were above the age of 35. The researcher in interpreted respondents age as enough to make respondents give constructive views since they are all old enough to understand reasons why banks come to Rwanda and conditions that attracted them. Therefore the views given in this research are significant enough to be trusted and relied on in making further conclusions. Table : Gender of respondents Gender Frequency Percentage Male 50 42 Female 70 58 Total 120 100 Source: Primary data 2012 In table1, most of the contacted respondents were found to be female (58%) while their male counter parts were 42%. This according to the researcher meant that the contacted respondents were mainly female which could be the policies of contacted institutions in recruiting employees. Therefore, the views gives were from both male and female and therefore there is gender representation and can therefore be trusted. Figure : Respondents level of education Source: Primary data 2012 According to figure 3, 91% of the contacted respondents hold a university degree. With this image the researcher realise that the contacted respondents were qualified enough to understand the issues under study and their views are significant in making reliable conclusions about the banking sector of Rwanda and its enabling environment to attract other foreign banks in East African community. Table : Length of time respondents have worked in banks Period Frequency Percentage Less than 1 year 33 28 1 3years 65 54 Above 3 years 22 18 Total 120 100 Source: Primary data 2012 According to table 2, 72% of the contacted respondents had spent a period above 1 year. This according the researcher signified that respondents views given were out of experience and should therefore be trusted in making decisions. 4.3 Nature of Rwanda banking sector In this section, the researcher presents views of the respondents related to the nature of Rwanda banking sector so that a conclusion can be made upon them on the nature of the banking sector in Rwanda. Figure : Respondents description of Rwanda banking sector Source: Primary data 2012 According to figure 4, 92% of the contacted respondents described the banking sector in Rwanda as good. This led the researcher to the understanding that Rwandan banking sector is good enough to attract other commercial banks within East African community. Table : Respondents views on whether their expectations from Rwanda banking sector have been met View Frequency Percentage Have been met 81 85 Have not been met 0 0 Not sure 14 15 Total 95 100 Source: Primary data 2012 According to table 3, 81% of the contacted respondents said their expectations from the banking sector have been met. None of the contacted respondents said expectations have not been met. This made the researcher realise that Rwandan banking sector is good enough to satisfy expectations of the attracted banks because of the environmental factors and policies. When asked to give reasons for their answers, contacted respondents said that the business moves on smoothly and uninterruptedly(40%) while others said high profitability levels (38%) and 22% said the government policies are favourable to the banks. This served to make the researcher confirm that Rwandan baking sector has satisfied interests of the attracted banks because of it nature. Figure : How respondents consider Rwandan banking sector in relation to that of other countries Source: Primary data 2012 According to figure 5, 89% of the contacted respondents said the banking environment of Rwanda is much better. However, none of the contacted respondents said it is worse. This made the researcher confirm that Rwandan banking sector is better than in other countries and has capacity to attract foreign banks from East African community. When asked to give reasons for their answers contacted respondents revealed that the country has managed to control inflation compared to other countries (41%) while 29% said the national bank of Rwanda has effective monitoring of commercial banks. 27% of respondents said security in the country is paramount while 3% said there is free competition. This further justified the fact that Rwandan banking sector is attractive and sufficient enough to facilitate attraction of foreign banks from East African region. Table : What the National Bank of Rwanda has done to improve the banking sector What has been done Frequency Percentage Controlling inflation 32 34 Stability of the Rwanda franc 28 29 Training 20 21 Liberalisation 10 11 Monitoring 5 5 Total 25 100 Source: Primary data 2012 According to table 4, respondents contacted revealed that the National Bank of Rwanda has controlled inflation (34%), stabled the Rwanda Franc against the dollar (29%), and offered banking trainings (21%), liberalisation of the economy (11%) and monitoring of the banking environment. This made the researcher realise that the national bank of Rwanda has been very significant in creating enabling environment that has attracted foreign commercial banks from East African community. Figure : What officials from National Bank of Rwanda consider special on Rwanda banking sector than that of other banks Source: Primary data 2012 According to figure 6, it was revealed by the respondents that free completion in Rwanda banking sector makes it special (28%), low levels of inflation (20%) and that the sector is well organised (36%). Respondents also said that the Rwandan banking sector is properly monitored by the National Bank of Rwanda (16%). This means that with no doubt there are enabling factors that have made the Rwandan banking sector special compared to those of other countries. Table : Views of respondents from NBR on whether they think bank policies have favoured commercial banks in Rwanda View Frequency Percent

Business Research - 1332 Words

Business Research Method RES/320 Business Research Methods Chapter 7: 2. How do data from qualitative research differ from data in quantitative research? The difference in data from qualitative research and data from quantitative research is found in their root words, quality and quantity. Qualitative research data is the opinions of a certain group. This research also captures the why, would, and how the target audience react to certain issues, situations, and/or products. The data is really useful and in-depth and used primarily by focus groups and interviews. Quantitative research data is truly about numbers, statistics. Therefore, the researchers have to make an effort to contact as†¦show more content†¦Through observation, the data is collected at the exact moment it happens. Observation is less biasing on one’s behavior rather questioning. There are disadvantages of observation as well. The observer must be where the event will take place in order to observe. This action at times is hard to predict. Observation is also slow, experience, and time consuming. When observing for the purpose of data collection, observation is difficult as it relates to one’s intentions attitude, opinion, or preference. The circumstance under which a case can be made for observation is as follows: A parent is interested in observing his or her child in school or in class. On the day the parent is in the class, the child may not demonstrated the said unacceptable behavior in front of the parent. Therefore, the child not demonstrating the behavior causes the parent to schedule a return visit to the classroom. The additional day or days the parent is at the school or in the class are days they are not at work. When the parent is not at work there is room for a domino effect of things occurring, like the parent not getting paid for not working. Chapter 8: 2. What ethical risks are involved in observation? In the use of unobtrusive measures? 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Current Factors Affecting The Rights Of Homeless People Essay

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Essay on Merrill Lynch Internship Experience - 1776 Words

This summer I was offered an internship for Merrill Lynch in my hometown of Towson, Maryland. For eight weeks, I worked five days a week for an average of thirty hours. There are numerous Merrill Lynch offices in the Baltimore and Washington D.C. area. Offices in Annapolis and Baltimore are greater in numbers and advisors. The Towson region only has about fifteen advisors and four client assistants. However, almost all of those advisors started their careers in Baltimore. The Towson office was for more established advisors who already have a distinguished client list. Because the office was much smaller, I was the only intern for the summer, which proved to have both its ups and downs. On one hand, being the only intern gave me†¦show more content†¦Each advisor gave me a positive rating on making the CRCs. However, there were a few instances where I did not correctly highlight the clients assets. 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A Short Note On Salt Water Garbage Islands - 891 Words

Brittany Welch Environmental Science Miss. Batty November 6, 2014 Salt Water Trash Islands An accruing problem has hit many locations around the salt water areas. Its floating trash it’s not only a problem for the oceans but deadly to many marine animals and other species. It has become a more accruing in the last couple years due to commercial fishing, fishermen, and illegal boats taking trash to other countries. Threating is when its harming or something feels in danger and that’s exactly what trash is doing to marine life. Marine life is an organism that lives in the ocean. For example coral, fish, dolphins, and seaweed that lives in the ocean or salt water. Salt water is a type of body water that is a big part of the ocean. Salt water is approximately thirty to eighty degrees Fahrenheit. It also is seventy-one percent of the earth’s surface. This includes Atlantic, Pacific, Arctic, Indian, Mediterranean, Caspian, Baltic, Adriatic Sea, Bering, Coral, E. China Sea, Hudson Bay, James Bay, Gulf of Mexico, Oman, Saint Lawrence, Great Barrier (Australia) and many more. The average depth of the ocean is about twelve thousand four hundred and thirty feet deep. Its max depth is about 6.787 miles deep. The total mass is about 0.023 of the earth’s total mass. The world s oceans are inhabited with over 14,000 species of saltwater fish. Some other sea animals that also live in the salt water are dolphins, turtles, sharks, and starfish. Several types of water plants that callShow MoreRelatedA Letter to His Parent by Jose Rizal4223 Words   |  17 Pages________________________ 9. Bake _________________________ 10. Awake ___________________________ Positive Comparative Superlative 1. Pretty ______________ ________________ 2. Attractive ______________ ________________ 3. Short ______________ ________________ 4. Noisy ______________ ________________ 5. Thin ______________ ________________ Match the synonyms. Write the letter on the blanks. 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Why Did a Campaign for Women’s Suffrage Develop After 1870 Free Essays

string(60) " of a Liberal meeting for shouting for women’s votes\." Women wanted to vote so that they could gain more respect from men, they desired the right to be able to make a difference to the way the country was run. Their views were that they lived in the country therefor they had the rights to vote for the laws they have to obey. Women wanted to have to opportunity to vote for MP’s that support equal rights, giving women a better life. We will write a custom essay sample on Why Did a Campaign for Women’s Suffrage Develop After 1870? or any similar topic only for you Order Now Women wanted to be able to change the divorce law as after marriage the man gained everything and the female was left with nothing. Women craved an education equal to men, so that they can undertake more responsible, independent well paid jobs, that they could not for fill without an education. There were many areas of inequality against women. The divorce law is a string example of this. The men even had legal rights to the children if they had any, even though the woman’s job was to look after the children, while the male was at work. So when the divorce takes place the Man still goes to work, and has to leave the children at home without a mother. Women strongly felt that equality was a basic and natural human right. During the 1800’s many more men had gained the vote, men with possible less resulting influence than some women had. Women weren’t just thinking of themselves, they felt that their education they could bring about better childcare and housing. This would benefit everyone. Their were many reasons why women campaigned for the vote, one of them being that women had to obey the laws as did the men but they had no say through political representatives on what they abided by. Women knew that as long as they had no vote, they had no respect, and as long as they had no respect, they were being paid less. The political inequalities greatly effected women’s social strength, and their economical situation. Women felt that politics had entered the home, though law, therefor women should enter politics. Women found it disgusting that they were being taxed without being represented. They had to pay for the government to go against what they women believe in. All top jobs are not available to females, as they are seen as inferior. This means that opportunities in public life are denied. Generally women have a closer relationship with the children than the males do, as they look after them while the men work. Therefore women know what is better for the children, and their point of view was not considered as they had know social status. The campaign for women’s suffrage started from 1870 onwards was because of a number of reasons. In 1853 Florence Nightingale bought nursing to the public eye as a respectable occupation that women could embark on without being criticised. Women showed much enthusiasm to improve and become more experienced in the profession of nursing and medicine. Florence showed initiative and responsibility that had not been shown in women before. This was an example of some progress that occurred in the 1800’s, but there were still many areas of inequality. In 1870 the married women’s property act was enforced, allowing women to keep i200 of their own earnings. This may not sound much but money was worth much more in these times. This was the start of many changes that age women a more equal role in society. In 1873 a law was imposed allowing women to see their children if they got divorced. This gave them closer relationships with their children, and they would have been looked after better as the men go out to work. In 1884 married women were no longer considered possession of their husbands, this meant more respect in society as they were seen as people rather than belongings. Women’s role gradually become more influential as new jobs became open to women such as; teaching, civil service work and secretarial work had just taken off due to the invention of the typewriter and telephone. I feel the first real rights given to women were that they were allowed to keep i200 of their own earning. This gave women inspiration, as they knew then, that they could use that money to possibly get an education or to start a business. This also let them know that they do have some rights and they are improving. I also believe that a key change in favour of women’s rights is â€Å"The Match Girls† strike. They demanded better pay and conditions, and the publicity forced the company to improve them. I feel that women decided to begin campaigning in 1900 was because of the changes that occurred, women were being given better opportunities so they felt that they had an opportunity to use this beginning to carry on the development to equal rights. Q2 Describe the Ways in Which the Methods of the Suffragists and the Suffragettes Were Different The Suffragettes and the Suffragists were two female dominated groups, who were very alike in principle but used very different methods of persuasion. The Suffragists (NUWSS) were a peaceful, law-abiding group. They did not demand the vote for all women but wanted to be on equal footing with men. The first women to join the NUWSS were well-educated, middle-class women, but in the 1890’s many factory girls wanted to gain the vote, raise their wages and their living and working conditions joined the movement. By 1900 the female cotton workers were the highest paid factory workers in Britain. The Suffragists used their resources and qualifications within the movement’s members to produce banners, postcards and posters. The Suffragettes (WSPU) used totally different forms of propaganda. The suffragettes had one aim; to gain political equality with men. The WSPU was formed on the 13th October 1905 when two women in Manchester were thrown out of a Liberal meeting for shouting for women’s votes. You read "Why Did a Campaign for Women’s Suffrage Develop After 1870?" in category "Papers" They were arrested outside the meeting for hitting and spitting at policemen. This was quite typical for the Suffragettes as they tried to get publicity though dangerous stunts. The plans of the Suffragettes were very different to those of the Suffragists, as they would get publicity at any cost. They deliberately got arrested for crimes such as arson, window smashing and bombing. When they were in jail for their crimes they often went on hunger strike so they had to be force-fed. The Suffragettes made it clear that they would not stop the havoc they were causing unless their demands were met. Types of leadership were key to the actions of the movements. Millicent Fawcett saw her role as a co-ordinator; she didn’t consider herself to be in charge but to give the effort of the other Suffragists some guidance. She made it clear that the Suffragists used non-violent methods of persuasion to gain the same voting rights as men. The Suffragettes were led in a very different manor, Emmeline Pankhurst and her daughters led the movement forcefully. They were said to have ruled like â€Å"dictators† not listening to others, and not thinking of the consequences of their actions, purely concentrating on their battle for suffrage. The Suffragettes were based in London where all the parliament buildings are based, therefore when they wanted to protest they could do so, and MPs would see and realise how serious they were. I feel that the Suffragists were a group for women who supported women’s rights to vote enough to want to make a difference and get involved but not enough to get arrested or even killed like some of the Suffragettes. The suffragettes were the most effective organisation and used their image to gain popularity and respects with men. They achieved this by calling off all their extreme petitions whilst the war was on. This gained them respect and also gave them a chance to prove themselves that they cared for the country. They proved they could do the same jobs, to the same standard if not better than the men could. An achievement by both organisations is that by 1900 over half the MP’s said they wanted women to have the vote. Though much hard campaigning women’s suffrage took many more years to achieve their original aims but they both did. Suffragists using a much more conventional form of propaganda such as posters etc, but they Suffragettes use much more extreme and extravagant forms. They not only showed that they wanted equal rights but they showed how much they wanted them. They went to many extremes just to gain what they very strongly believed in. Q3 Why Did Many People Oppose Giving Women the Right To Vote Many people opposed giving the women the right to vote because they feared what the women might do, if they had as much power as men did. Many people believed that if women had gained equal rights they would not stop and they would want to take complete control. Some contemporaries strongly believed that women would not vote responsibly but would be influenced by how someone looks rather than the serious political issues of the day. This relates to the lack of women’s education, many people believed that a woman’s place was at home. Most girls did not go to school, the only education women had was to set them up for marriage, to be able to run a household. Many people could not take women seriously because of this and women were looked upon as inferior to men. People also thought that women were too irrational and emotional to make sound judgements. Men and women were thought of to be very different. They should fulfil different roles in life. Men should live in the world of politics and work, and women in the world of the home. Women were the weaker sex, they could not be asked to fight for their country. Therefore, because they are not asked to risk losing their lives during the war, they were not citizens in the fullest sense. The campaign for women’s suffrage had been, hijacked by a small, articulate but unrepresentative minority of feminists. At bottom, most women did not really care whether they had the right to vote or not. Middle-class women would use political rights to develop their careers and neglect their domestic duties. Also, if the educated delayed having families or did not have them at all, a larger proportion of babies would be born to ‘socially undesirable’ elements. The nation would suffer. To give the vote to women would almost certainly lead to a certain extension for men and thus enfranchise unskilled, rootless and generally undesirable people. Basically women were inferior to men, but men feared that women would have their revenge if they gained enough power to do so, men feared for their futures. Women were inexperienced and if they had the right to vote, they would not use their ability correctly, as they cannot research anything into the subject because of their lack of education. However, men had more experience so they could make intelligent and rational decisions. The suffragettes did not made life easier for women. They just made women look crazy, stupid and incapable of making intelligent decisions. Queen Victoria did not think women should have had the right to vote. This was because she thought that there was no point in changing society, because she was happy with the way it was working, and she thought that men’s decisions were intelligent enough. Women had no key role in society, they were childlike, inferior and incapable of making decisions, which could change the future for the whole country, was it worth the risk? Women had no education to prove themselves, and those who did had very little. If women could not prove themselves to their country, how were they supposed to make an impact on society? It was very hard for women to change the way in which people were thinking, women had to look and act intelligent so that people could see that they were just as clever as men. The only reason women had such a bad reputation was because many women worked at home cleaning and looking after the family. This is still an important role, if women were given the same education as men, they would be just as intelligent, the just never had the same opportunities. I believe that the lack of women’s education was the most important factor of why many people did not want to let women have the right to vote. Women were set a bad status, and it would be hard to overcome this and try to act as if they were as intelligent as men were. It would be very hard for women to prove themselves. Question 4 I agree that women over 30 gained the vote in 1918 mainly because of women’s contribution to the war effort. Within the women’s suffrage movement response to the war varied enormously. Mrs Fawcett told members of the NUWSS, â€Å"Women your country needs you†. Many members became involved in war relief work. However not all members wanted to do war work. Some were pacifists who totally disagreed with fighting and war. Mrs Pankhurst, her daughter Christabel and members of the WSPU stopped campaigning and threw themselves into the war effort. Helping he government with recruiting and propaganda. Many middle-class and upper class women became nurses and worked directly with the army. Some of these women had the chance t work abroad; others worked in military hospitals in Britain. Some of these women found life hard, they were not used to working and the shifts night and day were long. VAD was the Voluntary Aid Detachment, these women worked unpaid until 1915. After this they received i20 a year, but had to pay for their uniforms. Some men opposed to women in men’s jobs. They were worried that women doing the same job for fewer wages meant that when the war was over women would be kept on. To avoid this trade, unions made agreements with the government and employers to protect men’s jobs and wages. Despite the hostility women entered all kinds of work, which before the war was thought to be unsuitable for women. Before the war the only jobs for women in transport were as cleaners, attendants and clerks. However, during the war they became bus and train conductors, railway ticket collectors, signal women and porters. 900,000 women were involved in making shells, guns and aircraft. This was dangerous work, using poisonous substances and explosives. At least 300 women died in the munitions factories from the explosions. This shows how devoted women were to their country. Munitions workers were one of the best-paid jobs during the war with wages up to i5 a week. Women were encouraged to help out on farms, to keep the country supplied with food. They worked 10-12 hours a day and did not earn as much as factory women. They could join one of three sections of the land army-agriculture, timber cutting and forage. Women in agriculture would tend sheep, pick potatoes, hoeing, ploughing, help with harvest work and work on the harvest gardens. Women on the land would live on the farm and usually had to pay for their food and lodging. They had to sign up for either 6 months or a year and were not allowed to leave without special permission. After the war the old voting system had to be changed to allow men returning from the war to be able to vote. The law said that all voters must have lived in the country for over 12 months before voting, so women argued that whilst making changes to allow the â€Å"returning heroes† to vote. It would be a good time to add women to the list of voters. The war had shaken the whole structure of society- the working classes lost some respect for the rich, many people had died or lost relatives, the whole of Europe was insecure. 1918 was therefore a time for change or starting afresh. I believe that the work, which women did during the war earned them a lot of respect and this definitely helped them win the right to vote. Women proved to society that they could be intelligent and reliable if the were given the chance. They proved that if they had more power they could help the country and they would make a big difference in the way in which the society was run. The women’s movements before the war helped to raise awareness of the situation of women, this helped their cause, also politicians realised that the violent campaigning would have been renewed if they did not recognise women’s rights. How to cite Why Did a Campaign for Women’s Suffrage Develop After 1870?, Papers