Savings and Credit Cooperative Societies' Services and Household Investment among Mwalimu Sacco Members in Nyandarua County, Kenya
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Date
2023-10
Authors
Gichuhi, Fredrick Irungu
Makori, Daniel
Journal Title
Journal ISSN
Volume Title
Publisher
IAJHRBA
Abstract
As per research, a significant portion of
Kenyans do not use financial services, which
also indicates insufficient investment. With
the little or no uptake in household
investments, there is need to sensitize and
empower Kenyans who may be having little
knowledge on matters investment which
informs the basis of this study. This study
therefore focused on savings and cooperative
societies' services and their influence on
household investments among Mwalimu
SACCO members in Ol-Kalou town, Kenya.
The survey sought to explore the influence of
capital mobilization and credit
disbursements, on household investments
among Mwalimu SACCO members in OlKalou town, Kenya. Theories underpinning
this research were Neoclassical Growth
Theory and Keyne's General Theory. The
survey embraced explanatory research
design. The target population was 154 public
schools’ teachers registered as members of
Mwalimu SACCO in Ol-Kalou town in
Nyandarua County Kenya. A total of 64
Public School teachers were chosen at
random to take part in the research as
participants using a simple random sample
method. The information was gathered
through questionnaires. Validity and
reliability tests were conducted on the
questionnaires. The statistical packages for
social sciences(SPSS) was utilized to analyze
the data that have been obtained. Descriptive
statistics like percentages, frequency, mean,
and standard deviation were utilized to
analyze the data. The researcher also
undertook diagnostic tests before conducting
inferential analysis. Correlation and
regression analysis were utilized to give
inferential statistics. Further data displays
included figures and tables, which were
followed by pertinent conversations. The
study established that capital mobilization
and credit disbursements, all have positive
and significant correlation with household
investments amongst Mwalimu SACCO
members in Ol-Kalou town in Kenya. The
study concluded that capital mobilization,
credit disbursements, collateral substitutes
and financial education have significant
effect on household investments amongst
members of Mwalimu SACCO in Ol-Kalou
town in Kenya. Conversely, the survey
recommended that the government should
take this opportunity to support SACCOs in
the country as this will enhance capital
mobilization thus enhancing household
investments. Moreover, strengthening of
SACCOs will make available the highly
needed credit facilities for business people
and potential investors. Conversely, the study
recommended that SACCO management
should continue enhancing the use of
collateral substitutes to unlock financial
access to many people. Additionally,
SACCO members should take advantage of
opportunities provided by the SACCO to
enhance their financial education for better
investment decisions.
Description
Article
Keywords
Capital Mobilization, Credit Disbursements, Household Investments
Citation
Gichuhi, F. I., Makori, D. (2023). Savings and credit cooperative societies' services and household investment among Mwalimu SACCO Members in Nyandarua County, Kenya. International Academic Journal of Human Resource and Business Administration, 4(3), 305- 324