CHAPTER ONE

INTRODUCTION TO THE STUDY

1.0 Overview

This research study will focus on the factors influencing the shifting of customers from

microfinance institutions to other financial institutions and will be a case study of Capital Sacco

Limited Meru.

1.1 Background to study

According to Mortis (2000), microfinance lending institutions are recognized and acknowledged

as vital and significant contributors to economic development. Hence, they have been given great

emphasis in the recent past because they are considered as essential actors in achieving social

and economic development in both developed and developing countries.

Kenya which has an estimated population of 40 million people and per capita income of US $

260 is categorized by the World Bank to be among the poorest countries in the world (World

development report 1992). One of the main challenges facing Kenya’s development agenda

remains in finding a sustainable poverty eradication strategy. As a result, Micro and small

enterprises have been identified and seen as one of the strategy that can bring faster

development. Lending institutions therefore, play a big role in financing the micro and small

enterprises for faster development. Microfinance institutions are also highly rated for

employment creation and are therefore important in Kenya where unemployment and under

employment are estimated at between 25% and 35% respectively.

During the period preceding the First World War most economics of the world were product

driven. However, as the 20th Century progressed, customers became sophisticated and

demanding, making the manufacturers be more accountable of customer requirements (British

Council, 2002). These changes brought about the growth of market research and surveys, which

were conducted to capture the needs of customers, hence, companies became market-driven.

Nowadays however, companies have become more customer driven and must therefore examine

the needs and expectations of the individual customer with the aim of producing their

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products/services accordingly. With an ever more competitive future, flexibility, adaptability and

customer oriented approach are vital to an organization’s survival. The future is customer-driven

since without customers, the business does not exist, there will be no jobs and no salaries (British

Council, 2002).

Unsatisfied customers will always shift to other organizations offering similar services.

Customers now have a wide choice of product and service providers to choose from and

satisfaction by one provider will bring repeat purchase. However, dissatisfaction will not only

cause the customer to move to another provider, but will move along with other customers. This

calls for good quality customer service that will offer customer satisfaction. According to

Richard Gerson (1994), customer satisfaction is achieved when a customer’s expectation has

been met or surpassed. According to Philip Kotler (Millennium edition), the key to customer

retention is customer satisfaction. Effective and efficient customer service is crucial not only for

immediate sales but also for long-term customer retention / loyalty which results to sustained

growth in market share and profits. It is important for organizations therefore, to address issues

relating to customer service because good customer services bring loyalty hence retention of

customers.

1.2 Statement of the problem

There are several factors that are currently affecting the operations of microfinance institutions in

Kenya, especially Capital Sacco Limited, the main ones being, high rates of inflation and

corruption practices. There have been frequent complaints by customers annually about

insufficient funds, loan lending policies, high interest rates, and short repayment period. This has

been attributed to the reasons leading to shift of customers to competitors in service

organizations in Kenya.

The main problem at Capital Sacco Limited is that all loan applicants are given a choice of

repaying loans within a given period of time which has been short. Additionally, late payments

by any borrower results in suspension of further loans to the group. High or unpredictable

inflation rates are regarded as harmful to lending institutions. They add inefficiencies in the

2

performance of lending institution, and make it difficult for lending institutions to budget or plan

long-term programs. Inflation can act as a drag on performance of lending institutions because

they will be forced to shift resources away from products and services in order to focus on profit

and losses from currency inflation. Uncertainty about the future value for money discourages

investment and savings, and inflation can impose hidden tax increases, as inflated earnings push

taxpayers into higher income tax rates.

With high inflation, financial institution’s lending rates, lending capacity/policy and loan

repayments and interest rates are adversely affected. Where fixed exchange rates are imposed,

rising inflation in one economy will cause its exports to become more expensive and affect the

balance of trade. There can also be negative impacts to trade from an increased instability in

currency exchange prices caused by unpredictable inflation.

The wide use of Internet as a way of sending and receiving money through M-Pesa, Airtel

Money and Orange money has challenged Capital Sacco Limited market share. Most people are

using M-Pesa, Airtel money and Orange money which is quite affordable and a very fast way of

doing business and personal transactions. The money transfer services are quite convenient and

accessible. This study will establish the factors contributing the shift of customers to other

financial institution in the Banking Industry, a case study of Capital Sacco Limited Meru.

1.3 Objectives of the study

1.3.1 General Objective

The main aim of the study will be to evaluate the factors influencing the shifting of customers

from microfinance institutions to other financial institutions

1.3.2 Specific Objectives

i. To investigate how the loan lending capacity of Capital Sacco Limited contributes to shift

of customers to other financial institutions.

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ii. To identify how lending/credit policy adopted by Capital Sacco Limited contributes to

shift of customers to other financial institutions.

iii. To determine how loan repayment period in Capital Sacco Limited contributes to shift of

customers to other financial institutions.

iv. To evaluate how interest rates of Capital Sacco Limited contributes to shift of customers

to other financial institutions.

1.4 Research questions

The study will seek to answer the following research questions:

i. To what extent does the loan lending capacity adopted by Capital Sacco contribute to

the customers’ shift to other financial institutions?

ii. What is the effect of loan lending/credit policy formulated by Capital Sacco on the

customers’ shift to other financial institutions?

iii. To what extent does the loan repayment period adopted by Capital Sacco contribute

to customers’ shift to other financial institutions?

iv. What is the effect of interest rates charged on loans by Capital Sacco on the

customers’ shift to other financial institutions?

1.5 Significance of the study

This study will be of benefit to the lending institutions in that it will guide them in policy

formulation, policies that will guide the organization in day to day management of operations. It

is for this reason that microfinance institutions will be able to come up with mission and vision

which direct employees and management achievement of common goal to success. The study

will also benefit the Kenyan government in identifying the problems facing these lending

institutions with a view to providing solutions which may include donations, grants and subsidies

meant for the welfare of the management of financial lending institutions in Kenya. To the small

scale entrepreneurs in different sectors of the economy, the study will benefit them since they

will be more informed on how lending and microfinance institutions are managed, and also how

these institutions can provide short term loans to boost their business.

4

1.6 Limitations of the study

The limitations of the study may include the following: Challenges of literature review may crop

up especially if the materials will not be available. The researcher will then collaborate with the

microfinance and even the supervisor on ways to get the literature review. The respondents may

be suspicious as to why the research will be conducted and this may lead to a slow response rate.

To remove the suspicion, the researcher will explain and convince them that it will be for

academic purposes only. The respondents may not have enough time to answer all the questions

or they may not understand the questions. The researcher will request them to sacrifice their time

and also get someone to explain the questions to them. The researcher also may have limited

time to carry out the research due to other commitments such as work.

1.7 Scope of the study

The study will be conducted at Capital Sacco Limited head office in Meru town and two of its

branches. The target population for this study will be the Top management, middle level

management and employees at Capital Sacco Limited offices represented by 5, 10 and 15

respectively. The category of respondents targeted will be 30 respondents who will be picked

from the three main strata as above. The research shall be carried out within a six months period,

with the main aim of finding out the main factors contributing to the shift of customers to other

financial institutions in Kenya, a case study of Capital Sacco Limited in Kenya.

5

CHAPTER TWO

LITERATURE REVIEW

2.1 Introduction

The chapter focused on giving in-depth view on what other writers have said thus enabling the

researcher to develop the foundation and background of the study about factors that influence

shift of customers from microfinance institutions to other financial institutions. The chapter will

hence discuss causes of customer dissatisfaction in an organization’s services that could cause

them to seek for similar products and services from competitors.

2.2 Review of past literature

2.2.1 Lending capacity

Lending capacity is the amount on reserve, for members to apply. This is influenced by inflation

rates that are mainly caused by sudden rise in prices of other items but mainly household

commodities in the market. This has a multiplier effect on the money lending institutions lending

capacity, in that most loan applicants will apply for huge sums of money, to spend on their daily

needs due to high prices of basic goods. But the fixed cost of processing loans of any size is

considerable, assessment of potential borrowers, their repayment prospects and security

administration of outstanding loans, collected from delinquent borrowers and so on. Ransom

(1997)

There is a breakeven point in providing loans or deposits below which banks lose money on each

transaction they make. Low income earners usually fall below the breakeven point. In addition,

most Customers have few assets that can be secured by the institution as collateral. As

documented extensively by the management, even if they happen to own land, they may not have

effective title deeds for the property. This means that the institution will have little resource

against defaulting borrowers from the institutions. Adams (1960)

From a broader perspective, it has long been accepted that the development of a healthy national

financial system is an important goal and catalyst for the broader goal of national economic

development. However, the efforts of national planners and experts to develop financial services

6

for their nations’ majorities have often failed since World War II, due to high inflation rates,

leading to financial institutions failing to have sufficient funds for their members. Adams (1960),

in their classic analysis ‘Undermining Rural Development with Cheap Credit’

Ransom (1997), uses the simplest dynamic model to bring out this idea whereby the lending

capacity is controlled by the Central bank that determine how much reserve rates should a money

lending institution maintain and has an impact on the lending capacity. The lending capacity is

thus a weighted average of the short – and long – run inverse as set and standardized by the

Central bank of Kenya. It follows that, as the long-run (direct) supply of money to financial

institutions tends to be much higher than the short-run one, this very simple dynamic model

predicts the need to regulate the amount of finances to be loaned to Financial institutions keeping

in mind the rate of inflation has adverse effects, due to the distorted signals they send to the

market. Artificially high rates of interest charged by central bank discourage future shortages in

money available for the customers to borrow. Temporary controls may complement a recession

as a way to fight inflation. However, in general the advice of economists is not to impose lending

capacity rates controls, but to liberalize it by assuming that the economy will adjust and abandon

unprofitable economic activity.

2.2.2 Lending/Credit policy

A policy is typically described as a principle or rule to guide decision and achieve rational

outcome. Policy refers to the process of making important organizational decisions including the

identification of different alternatives such as programs or spending priorities and choosing

among them on the basis of impact they would have. Policies can be understood as political,

management, financial and administrative mechanisms arranged to reach explicit goals. A

lending policy is a statement of philosophy, standards, procedures and guidelines that employees

must observe in granting or rejecting a loan request. These policies determine which members of

the industry or business will be approved for loans and which will be rejected and must be based

on the central bank relevant laws and regulations. Manual policy document (2010) publication.

In addition a lending policy whether stringent or liberal is composed of lending terms which are

the methods used to analyze credit requests and used in decision making. Lending terms are

7

therefore are a combination of credit conditions and standards of advancing credit. Recovery

includes all efforts of collecting loan balances in arrears to maintain a profitable loan portfolio

(Alexis, 2010).

Lending policy is the primary means by which senior management and the Board of an

institution guides the lending activities. It therefore provides the scope for achieving the loan

portfolio quality and returns, guides the risk tolerance levels in a manner commensurate with the

institutions strategic direction, Boah (2010). Lending policy enables an MFI to limit bad debts

and improve cash flows since loans are in most cases the core business activities in MFIs. The

credit policy also assures a degree of consistency among departments by writing down what is

expected of each department as well as ensuring consistence in handling customers based on pre

determined parameters. Riach (2010)

According to Rukwaro (2001), the lending policy must thus either be efficient that is able to

assess loan applicants’ characteristics than expected profit maximization. The lending policy has

to take into consideration the value at risk, being a value weighted sum of individual risks,

provides a more adequate measure of monetary losses on a portfolio of loans than default risk.

Capital Sacco Limited derives a value at Risk measure for the sample portfolio of loans and

shows how analyzing this can enable money lending institutions to evaluate alternative lending

policies on the basis of their implied credit risk and loss rate, inflation and make lending rates

consistent with the implied Value at Risk.

Lending/Credit policies vary from institution to institution and are always supplemented to by

more detailed guidelines and procedures. The variations arise due market conditions,

geographical locations, personnel and portfolio objectives but under all circumstances credit

policies tally with the lending activities. Lending/Credit policies vary from institution to

institution and are always supplemented to by more detailed guidelines and procedures. The

variations arise due market conditions, geographical locations, personnel and portfolio objectives

but under all circumstances credit policies tally with the lending activities. Navanjas (2009)

8

In addition a credit policy specifies the authorization procedures for credit decisions Farquhar

(2010). This can be illustrated where MFIs Management give Branch managers’ authority to

approve loans depending on the limits and risks associated with given credit applicant (FINCA,

2010). Loans exceeding Branch limits are forwarded to senior management usually at regional

levels and head office hence influencing outreach.

Lending/Credit policies are periodically reviewed and revised by management to incorporate

changes in strategic direction and risk tolerance or market conditions (Elliot, 2009). Policies are

revised to incorporate customer preferences so that they are served according to their

expectations. MFIs review credit policies on average after three years (Credit manual, 2009). The

reviews are used to evaluate the performance of the policy in terms of achieving desired

objectives ranging from profitability to customer growth and outreach.

2.2.3 Loan repayment

Loan repayment is an agreement period by which an owner of property (the lender) allows the

other party (the borrower) to use property or funds for a specific time period, and in return the

borrower will pay the lender a payment (usually interest), and return the property (usually cash)

at the end of the period. A loan is usually evidenced by a promissory note. Examples are

commercial, consumer, mortgage and auto loans.

The capability of borrowers to repay their microcredit loans is an important issue that needs

attention. Borrowers can either repay their loan or choose to default. Borrower defaults may be

voluntary or involuntary (Brehanu & Fufa, 2008). According to Brehanu and Fufa (2008),

involuntary defaults of borrowed funds could be caused by unexpected circumstances occurring

in the borrower’s business that affect their ability to repay the loan. Unexpected circumstances

include lower business revenue generated, natural disasters and borrowers’ illness. In contrast,

voluntary default is related to morally hazardous behaviour by the borrower. In this category, the

borrower has the ability to repay the borrowed funds but refuses to because of the low level of

enforcement mechanisms used by the institution (Brehanu & Fufa, 2008). Research has shown

that a group lending mechanism is effective in reducing borrower defaults (Armendariz de

9

Aghion, 1999). In group lending, the loan is secured by the co-signature of members within the

group and not by the microfinance institution. Each member will put pressure on the others in the

group to meet the loan repayment schedule. Thus, group sanction is important in discouraging

defaults among members in microfinance (Van Tassel, 1999).

According to Rosenberg (1999), Micro Finance Institutions (MFIs) are increasingly a central

source of credit for the poor in many countries. Weekly collection of repayment installments by

bank personnel is one of the key features of micro-finance that is believed to reduce default risk

in the absence of collateral and make lending to the poor viable. Some of the factors that lead to

loan default include; inadequate or non-monitoring of micro and small enterprises by banks,

leading to defaults, delays by banks in processing and disbursement of loans, diversion of funds,

over-concentration of decision making, where all loans are required by some banks to be

sanctioned by Area/Head Offices.

The typical repayment schedule offered by an MFI consists of weekly repayment starting one to

two weeks after loan disbursement. Weekly collection of repayment installments by bank

personnel is one of the key features of micro-finance that is believed to reduce default risk in the

absence of collateral and make lending to the poor viable - Vogelgesang (2003). In addition,

frequent meetings with a loan officer may improve client trust in loan officers and their

willingness to stay on track with repayments.

2.2.4 Interest rates

According to Saleemi (2009), interest is earnings on loans charged on loanees or members. The

major determinants of interest rate are the demand and supply for money in circulation. Finance

lending institutions qualify to give loans to applicants who have met the relevant requirements,

on some occasions loanees default. This study will investigate how interest rates charged by

micro-finance institutions affect their operations and performance.

10

Oyando (2010) pointed out that customers who look to micro-finance institutions for money or

rather funding, are paying through the nose in terms of interest rates as these Money Lending

Institutions seeks to limit their level of exposure.

Many countries have established interest rate ceilings to protect consumers from unscrupulous

lenders. Governments often also face political or cultural pressure to keep interest rates low.

Despite good intentions, interest rate ceilings generally hurt the poor by making it hard for new

microfinance institutions (MFIs) to emerge and existing ones to stay in business. In countries

with interest rate caps, MFIs often withdraw from the market, grow more slowly, become less

transparent about total loan costs, and/or reduce their work in rural and other costly markets. By

forcing pro-poor financial institutions out of business, interest rate caps often drive clients back

to the expensive informal market where they have no or little protection. Brigit and Xavier

(2004)

The process of fixing the usury rate was often questioned and propositions of improvement

sometimes suggested (Baudassé and Lavigne, 2000). In developing countries, the risk of a bad

legislation cannot be dismissed. The inadequate legislations reduce transactions and efficient

functioning of markets (Coetzee and Goldblatt, 1998). That is true for the financial legislations

and in particular for the microfinance sector in Africa, which is dominated by the informal

practices. The cost of an inappropriate legislation could be socially high in this context where the

products of saving are not very diversified

The fixation of different thresholds of usury for banks and microfinance institutions supports the

idea that the credit charge and the risks taken in microfinance are different from those of banks.

It is not only a question of guaranteeing the efficiency of the microfinance market but also to set

up a protection against high interest rates. We find this idea from the scholasticism for whom,

little lenders could become a powerful oligopoly which fixes high interest rates allowing an

overexploitation of the borrowers in case of insufficient competition (Baudassé and Lavigne,

2000). This idea of protection appears also with Glaeser and Scheinkman (1998) for whom, an

usury law which restricts the level of interest rates plays a role of social insurance by imposing a

11

transfer of income from the lenders to the borrowers because marginal utility of capital is

stronger with the laters than the firsts who are in a situation of abundance. But for Adam Smith,

setting up a threshold of usury helps solving problems of anti-selection, the lenders will probably

being attracted by high interest rates offered by adventurers at all do not worried about a fund

repayment (Baudassé and Lavigne, 2000; Diatkine, 2002).

On the other hand, the argument of efficiency in favour of an interest rate ceiling is that the

lenders face a legal ceiling will try to minimize the costs of credit to maximize their profit

margin. The liberal economists think that imposing a threshold of usury reduces the possibility of

reaching Pareto's optimum where lender and borrowers can not any more, one and\or the other

one, under certain conditions, improve their satisfaction. The suspension of loan beyond the

usury interest rate reduces not only the satisfaction of the lender but also that of the borrower

who was ready to pay this price but sees itself speechless of an usury loan, without as far as one

other loan at better rate is offered to him (Baudassé and Lavigne, op. cit.).

2.3 Critical literature review

Generally, the main factors contributing to the shift of customers to competitors in service

organizations, a case study of Capital Sacco Limited are the Central Bank of Kenya lending

Capacity to microfinance institutions, the Capital Sacco Limited lending policies, the loan

repayment period and the interest rates charged on loans. There is need for technical support to

transforming institutions and to those who wish to develop savings services, and support to the

process of identifying and securing equity investors. This will lead to customer retention and

organizations prosperity.

As more money lending institutions programs cross the hurdles of operational efficiency and

then full profitability, with strategically applied external support, they can begin to reach tens of

millions of low income families with high quality financial services. In so doing they help those

families lead more secure, empowered, and healthy lives and to provide children with better

economic opportunities. Enlarging opportunities is the ultimate purpose of micro enterprise

finance. It is generally accepted that credit, which is put to productive use, results in good

12

returns. But credit provision is such a risky business that, in addition to other reasons of varied

nature, it may involve fraudulent and opportunistic behavior. MFIs should rather depend on loan

recovery to have a sustainable financial position in this regard, so that they can meet their

objective of alleviating poverty. Whether default is random and influenced by erratic behavior or

whether it is influenced by certain factors in a specific situation, therefore, needs an empirical

investigation so that the findings can be used by micro financing institutions to manipulate their

credit programs for the better (Buvinic, 1997).

In a case study by Opportunity International, high or hyperinflation economic conditions

severely reduced the ability of microenterprises to repay loans. In the study the experience of two

different microfinance institutions was analyzed. In both cases, the loans to clients were indexed

to the U.S. dollar and as the countries experienced high inflation and the resulting devaluation of

their currencies, most clients were unable to make complete payments. This case study shows,

not surprisingly, that macroeconomic conditions affect the risks in the portfolio. The above

review suggests that the level of risk in an MFI’s loan portfolio is influenced by the choice of

lending methodologies, borrowers’ gender, other (microeconomic) institutional factors, and

macroeconomic variables that affect the ability of the borrower to repay loans, Weele and

Markowich (2001)

The role of collateral and guarantees in lending relationship has been widely discussed, and

different conclusions have been reached. Under perfect information, the bank can distinguish

between different types of borrowers, has perfect knowledge about the riskiness of their

investment projects, therefore there is no need for guarantees. Under asymmetric information,

however, collateral and personal guarantees play a role in solving different problems that may

arise (Ono and Uesugi, 2006). In a principal-agent setting, John et al. (2003) find that guarantees

decrease the riskiness of a given loan, and that collateralized debt has higher yield than general

debt, after controlling for credit rationing. Ahamed (2010) describes a credit policy as a

management philosophy spelling out the decision variables of credit standards, credit terms and

collection efforts by which managers in MFIs have an influence on their operations. The credit

policy impacts on the outreach of MFIs depending on the lending approaches used to screen

clients for credit facilities which are either liberal or stringent in nature. These approaches are 13

effective provided managers are competent with the relevant skills, knowledge and experience of

leading teams to achieve targets set (Frey, 2010).

A credit policy adopted impacts on the outreach and customer retention in MFIs. However, the

research under looked the impact of managerial competence while implementing the credit

policy as fundamental to achieve lending goals, Zeller & Lapen (2009). Micro finance lending is

associated with default risk which compels management to formulate and implement credit

policies which are used by managers to influence credit accessibility inform of outreach. Once

credit is accessed by customers, manager play a big role with staff in retaining customers which

is achieved on the assumption that managers are competent enough to make financial decisions

which facilitates the achievement of corporate objectives (Tamil, 2009). Managerial competence

is the ability of managers to direct work streams and define outcomes clearly while leading staff

as a team (Jay, 2010).

The capability of borrowers to repay their microcredit loans is an important issue that needs

attention. Borrowers can either repay their loan or choose to default. Borrower defaults may be

voluntary or involuntary (Brehanu & Fufa, 2008). According to Brehanu and Fufa (2008),

involuntary defaults of borrowed funds could be caused by unexpected circumstances occurring

in the borrower’s business that affect their ability to repay the loan. Unexpected circumstances

include lower business revenue generated, natural disasters and borrowers’ illness. In contrast,

voluntary default is related to morally hazardous behavior by the borrower. In this category, the

borrower has the ability to repay the borrowed funds but refuses to because of the low level of

enforcement mechanisms used by the institution (Brehanu & Fufa, 2008). Research has shown

that a group lending mechanism is effective in reducing borrower defaults (Armendariz de

Aghion, 1999). In group lending, the loan is secured by the co-signature of members within the

group and not by the microfinance institution. Each member will put pressure on the others in the

group to meet the loan repayment schedule. Thus, group sanction is important in discouraging

defaults among members in microfinance (Van Tassel, 1999).

2.4 Summary and gap to be filled by the study

14

There have been attempts in the past to study Micro financing and Micro lending but much focus

has been on the impact of MFIs in poverty alleviation, especially in Kenya. Not much has been

done to find out impact of lending policy, lending/credit policy, interest rates and loan repayment

period on customers’ loyalty and reasons for shifting to other MFIs institutions in Meru County,

therefore this research addresses that gap.

Summarise what u have reviewed showing the gap you are saying

15

2.4 Conceptual Framework

Figure 2.1 Conceptual Frame work

Independent variables Dependent Variable

Affects

Source Author (2013)

Explanation of variables

2.4.1 Lending Capacity

This is the ability to give out loans to applicants, in relation to the repayment period and

applicants’ security or guaranteed arrangement. From the lending institution point of view, this

terminology is used to categorize different institutions as per the members’ discretion to get

loans, or funds available to members, which may have been pooled together through monthly

contribution to the pool. This study will find out how lending capacity affects the performance of

Capital Sacco Limited.

2.4.2 Lending Policy

A policy is a statement that is formulated by the management of an organization, to guide its

employees or customers on the day to day organizational / operational activities. Lending

16

Lending capacity

Lending policy

Loan Repayment

Interest Rates

Customers shifting to Competitors

institutions lending policy statements outline to the customers rules and regulations for applying

for loans from the institution. This study will look at how lending policy adopted by Capital

Sacco Limited affects its performance.

2.4.3 Interest rates

Interest is earnings on loans charged on loanees or customers. The major determinants of interest

rate are the demand and supply for money in circulation. Finance lending institution qualifies to

give loans to applicants who have met the relevant requirements, on some occasions loanees

default. This study will investigate how interest rates charged by Capital Sacco Limited affected

its operation and performance.

2.4.4 Loan Repayment

According to Capital Sacco Limited loan repayment is an agreement period within which Capital

Sacco Limited allows the customer to use the funds (loans) for a specific time period, and in

return the borrower will pay interests and the principal amount advanced by Capital Sacco

Limited at the end of the period. This is usually contained in a letter of offer (terms and

conditions) that the borrower signs before the funds are released by Capital Sacco Limited.

17

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NB

REVISE CHAPTER TWO AND FEW CORRECTION IN CHAPTER ONE EG LIMITATION OF THE STUDY

Revise references and indent it as shown the second line from each reference

If you can get a better academic and professional term rather than customers shifting to other

financial institution it would be better – but you fail to get one you can continue

Bring chapter three with revised or corrected questionnaire and chapter one and two

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