Factors Influencing Participation of Men and Women in Informal Finance Groups in Gachagi Informal Settlement in Thika Sub-County, Kenya
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Date
2015-01
Authors
Mwangi, J.
Kimani, Elishiba
Journal Title
Journal ISSN
Volume Title
Publisher
Globeedu Group
Abstract
Studies indicate that most people living in the informal settlements are usually poor and financially excluded. As such, they
tend to rely on informal finance groups for their financial upkeep. Given that there exist several informal finance groups and
for different purposes, this study sought to establish the factors influencing participation of men and women in informal
finance groups. The study was conducted in an informal settlement, namely Gachagi in Thika Sub-County, Kenya. The study
adopted a qualitative descriptive design, and was guided by behavioral life cycle hypothesis advanced by Thaler (1954). The
target population was 20 informal finance groups comprising 10 Rotating Saving and Credit Associations (ROSCAs), 5
welfare/clan groups, 3 Accumulating Savings and Credit Associations (ASCAs) and 2 investment groups. Out of the 20
informal finance groups, a sample size of 11 informal finance groups comprising 5 ROSCAs, 3 welfare/clan groups, 2
ASCAs and 1 investment group were selected forming a sample of 55%. The main respondents of the study were men and
women members of the selected informal finance groups including group officials. Key study informants included the
Divisional Social Services Officer (DSSO), the Chief and two elders from the informal settlement. Data collection tools were
Focus Group Discussion guides for men and women in informal finance groups and interview guides for key informants.
Data collected was cross-tabulated for qualitative analysis. Findings indicated that gender, marital status, age, educational
level and economic status influenced participation of men and women in the informal finance groups. Other factors
influencing men and women to engage in informal finance groups were to save money, inculcation of saving discipline and
easy access to their savings and loans among others
Description
Research Article
Keywords
Factors, Preference, Informal finance groups, Informal settlement, Gachagi, Thika, Kenya
Citation
The International Journal Of Humanities & Social Studies Vol 3 Issue 1; January, 2015