Borrow Wisely Campaign 2017 Evaluation results Partners 26
Borrow Wisely Campaign 2017 Evaluation results
Partners 26 MFIs delivered the campaign in 17 countries www. MFC. org. pl
Usefulness of the campaign • 79% of participants found the campaign useful • The reason for not finding the campaign useful was the fact that the respondent knew that information before 10% 11% 79% Yes Telephone survey – see slide 34 for detalis No Don't know/hard to say www. MFC. org. pl
Usefulness of the campaign (by countries) • 100% of respondents from Kazakhstan stated that campaign was useful • The campaign wasn’t useful for 16% of respondents in Bosnia and Herzegovina, 11% in Montenegro and 7% in Bulgaria. • Additionally, 15% of respondents in Bosnia-Herzegovina and 10% in Bulgaria had no opinion about the usefulness of the campaign Telephone survey – see slide 34 for detalis www. MFC. org. pl
Campaign key advices 61% of respondents stated that they remembered the borrowing advices from the campaign materials 5% 34% 61% Yes No Don't know/hard to say Telephone survey – see slide 34 for detalis www. MFC. org. pl
Campaign key advices (by countries) • 90% of respondents from Montenegro and 86% from Bulgaria declared remembering the advices • 53% of participants from Bosnia and Herzegovina didn’t remember any of the advices Telephone survey – see slide 34 for detalis www. MFC. org. pl
Campaign key advices The most popular advice mentioned by respondents are: – Control debt – don’t let it control you (25%) ü Avoid multiple loans ü Care about credit history ü Be careful about being a guarantor for someone else's loan ü Smart debt vs. savings – Do I fully understand the contract conditions (22%) ü Read the contract from beginning to end ü Understanding the costs, timing etc. ₋ How much I can afford to borrow (21%) ü How to calculate what you can really afford to pay ü Take a loan in the same currency as your income – Do I know how much I will pay (19%) ü Lower interest rate does not guarantee a cheaper ü Compare different offers www. MFC. org. pl Telephone survey – see slide 34 for detalis
How the campaign helped • • • 23% of respondents learned how to take loans wisely 22% of respondents learned how to calculate household budget and repayment capacity 19% of respondents stated that the campaign made them more aware about the importance of reading and understanding the contract 30% 22% 19% 6% 4% 1% Learned how to borrow wisely Learned how to calculate Learned about the affordable installments importance of reading the contract Telephone survey – see slide 34 for detalis Learned how to look at total credit cost www. MFC. org. pl Learned about the rights Learned about the importance of good credit history
Sharing the campaign materials • 56% of respondents shared the campaign materials with the family members • 18% of respondents didn’t share them with anyone 56% 18% 13% 7% 6% Family members Friends Telephone survey – see slide 34 for detalis Business partners www. MFC. org. pl Did not share it with anyone Don't know/hard to say
Sharing the campaign materials (by countries) • 73% of respondents from Kazakhstan and 64% from Montenegro shared the materials with the family members • 28% of Bulgarian respondents shared the materials with business partners • 24% of respondents from Bosnia-Herzegovina and 18% from Bulgaria didn’t share the materials with anyone Telephone survey – see slide 34 for detalis www. MFC. org. pl
Types of printed materials 68% of respondents saw leaflets, 37% saw brochures and 11% of respondents saw posters 68% 37% 11% 3% leaflet Telephone survey – see slide 34 for detalis brochure poster www. MFC. org. pl none of these
What else could be done? • • • 31% of respondents answered this question The largest number of those who answered the question (30%) want the campaign to have larger outreach Many respondents (25%) would like to participate in other educational events (seminars, consultations) or receive more detailed information about the campaign’s rules (e. g. how to prepare a repayment calendar) Telephone survey – see slide 34 for detalis www. MFC. org. pl
Level of understanding In 90% of cases it was easy to understand the campaign materials 6% 4% 28% 62% Very easy In depth interviews– see slide 35 for detalis Rather easy Rather difficult www. MFC. org. pl Don't know/hard to say
Level of understanding (by countries) • All respondents from Kazakhstan (100%) and 93% from Bosnia-Herzegovina answered that the campaign materials were easy to understand • Some respondents from Romania (23%) and Bulgaria (11%) had difficulties in understanding the campaign materials In depth interviews– see slide 35 for detalis www. MFC. org. pl
Reading the materials later on 91% of respondents declared that they would read the campaign materials later on 3% 6% 91% Yes In depth interviews– see slide 35 for detalis No Don't know/hard to say www. MFC. org. pl
Reading the materials later on (by countries) • 100% of respondents from Kazakhstan and Romania answered that they would read the brochure later • 7% of Bulgarian respondents will not read the brochure later on • 12% of the Bosnian respondents are unsure about reading it later In depth interviews– see slide 35 for detalis www. MFC. org. pl
Design of campaign materials 94% of participants liked the campaign’s materials visually The main reasons for not liking the materials was too much of the contents and the text that was dififcult to read In depth interviews– see slide 35 for detalis www. MFC. org. pl
Design of campaign materials (by countries) • 100% of respondents in Kazakhstan and Romania liked the campaign materials • 12% of clients from Bulgaria didn’t like the campaign materials visually In depth interviews– see slide 35 for detalis www. MFC. org. pl
Attractiveness of layout 88% of campaign participants liked the layout of the campaign materials 7% 5% 88% Yes In depth interviews– see slide 35 for detalis No Don't know/hard to say www. MFC. org. pl
Attractiveness of layout (by countries) • The layout was attractive to read particularly in Kazakhstan and Romania (100% of respondents) • A small share of the respondents did not like the layout (5% in Bi. H, 7% in Bulgaria) • 11% of respondents in Bulgaria and 6% in Bi. H didn’t have an opinion on this topic In depth interviews– see slide 35 for detalis www. MFC. org. pl
Amount of text • 76% of participants assessed the amount of text as optimal • 14% of respondents was of the opinion that there was too much text 76% 14% 9% 0% It is optimal Too much text In depth interviews– see slide 35 for detalis Not enough text www. MFC. org. pl Don't know/hard to say
Amount of text (by countries) • The amount of text was found to be optimal for all respondents in Kazakhstan. • 26% of the respondents in Bulgaria and 10% in Bi. H answered that the materials included too much text • 15% of respondents in Romania and 12% in Bulgaria had no opinion on the amount of text. In depth interviews– see slide 35 for detalis www. MFC. org. pl
Font size 80% of respondents answered that the font size was optimal, 14% of respondents thought the opposite – that the font size was too small 6% 14% It is optimal It is too small Don't know/hard to say 80% In depth interviews– see slide 35 for detalis www. MFC. org. pl
Font size (by countries) • The largest number of respondents pleased with the font size was seen in Kazakhstan and Romania (100%) • A considerable number of respondents from Bulgaria (27%) mentioned that the font size was too small In depth interviews– see slide 35 for detalis www. MFC. org. pl
Conclusions • The majority of the respondents liked the campaign • The respondents found the campaign useful and informative. They suggested to organize the campaign more frequently and introduce more educational events • The respondents suggested: – Expanding the campaign’s scale and frequency – Educating clients on financial education through workshops, individual consultations, campaigns and online workshops www. MFC. org. pl
BW Campaign 2017 vs. BW Campaign 2014 -2016
Statistics 2014 2015 2016 2017 Number of participating MFIs 11 21 20 26 Number of countries 9 13 14 14 www. MFC. org. pl
Usefulness of the Campaign • Bosnia and Herzegovina: the perception of the usefulness of the campain stabilised at around 70% in the last 2 years www. MFC. org. pl
Level of understanding • Bosnia and Herzegovina: the level of understanding remains on a high level with a small exeption for 2015 www. MFC. org. pl
Rules of the campaign • Bosnia-Herzegovina: a fairly stable share of respondents (3739%) remember the campaign’s messages every year with the exception for 2015 when only 33% remembered the campaign rules www. MFC. org. pl
Conclusions • New MFIs joined the Campaign in 2016 • The comparison of the results of the campain in the period of 2014 -2017 was conducted on the example of Bosnia and Herzegovina • The level of understanding of the campaign’s messages remains high • The perception of usefulness of the campaign increased in 2016 and remained on the same level in 2017 • Remembering the rules of the campaign slightly increased in 2017 but is still on a low level www. MFC. org. pl
Evaluation methodology Objectives Methodology Sample Timeframe • Assess the scale of the campaign outreach • Evaluate the campaign materials (leaflet, brochure) in terms of clarity of messages and attractiveness of the layout • Assess the quality of outreach • The evaluation was conducted by using quantitative approach, specifically in-depth interviews and telephone survey: • In-depth interviews carried out among active borrowers during the monitoring visit • Telephone survey conducted among the clients who were applying for the loan when receiving the campaign materials or the clients who received the campaign materials during the monitoring visit or when visiting the branch • Clients who at the time of campaign applied for credit (and received it or not) and received leaflets/brochures and had a chance to see the poster • Active clients who received monitoring visit from LO and received leaflets/brochures and had a chance to see the poster • The Borrow Wisely Campaign took place in from 1 October till 31 October 2017. The evaluation took place in November - December, 2017. www. MFC. org. pl
Telephone survey respondents 362 respondents from 4 countries participated in the telephone interviews: – 177 respondents from Bosnia and Herzegovina (50 from EKI; 47 from Lider; 50 from MI-BOSPO; 30 from Partner) – 88 respondents from Bulgaria (42 from SIS Credit; 46 from Mikrofond) – 49 respondents from Kazakhstan (ACF) – 48 respondents from Montenegro (Monte. Credit) www. MFC. org. pl
In-depth interviews respondents 244 respondents from 4 countries participated in in-depth interviews: – 99 respondents from Bosnia and Herzegovina (15 from EKI; 19 from Lider; 50 from MI-BOSPO; 15 from Partner) – 10 respondents from Bulgaria (50 from SIS Credit; 50 from Mikrofond) – 19 respondents from Kazakhstan (ACF) – 26 respondents from Romania (Vitas) www. MFC. org. pl
More information mfc. org. pl microfinance@mfc. org. pl
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