Financial Behaviour and Growth of Women Groups in Kenya - A Case Study of Joyful Women Organisation Registered Groups in Kajiado County
Loading...
Date
2021
Authors
Gichuhi, Anne Wangui
Mwangi, Lucy Wamugo
Journal Title
Journal ISSN
Volume Title
Publisher
International Academic Journals
Abstract
The role played by women towards nations
development through their productive,
communal, and reproductive roles is very
important. To effectively play these roles
they have grouped themselves in women
groups. These groups have catalysed the
economic and social empowerment of
women. Unfortunately, the sustainability of
these groups has become a big task. Over
recent years there has been an increase in
groups that have disintegrated or become
dormant. The groups have also experienced
a reduction in group membership, total
revolving fund, and members savings.
Joyful Women Organisation registered
groups have experienced reduction in their
number as well as membership numbers
from 2017 to 2019. This has led to the
groups not fulfilling their role of
empowering the lives of their members.
Financial literacy has been linked to growth
of women groups. Low levels of financial
literacy among the group’s members
usually affects their ability to effectively
manage the group’s operations. The general
objective of the study was to establish the
influence of financial literacy on the growth
of JOYWO registered women groups in
Kajiado County, Kenya. Specific objectives
were to investigate the influence of
financial knowledge, financial behaviour,
financial attitude on the growth of JOYWO
registered groups in Kajiado County,
Kenya. This study was guided by the theory
of planned behaviour, social learning
theory and behavioural finance theory.
Explanatory research design was adopted.
Study population was 48 women groups
registered by JOYWO and simple random
sampling technique was used to get a
sample of 43 groups. A semi-structured
questionnaire was used to collect primary
data. Secondary data was collected from
JOYWO annual groups records. Before
data collection, a pilot test was conducted
to assess the validity of the questionnaire.
The reliability of the questionnaire was
tested using Cronbach’s Alpha technique.
Descriptive and inferential statistics were
used to analyse the quantitative data.
Multiple linear regression analysis was
utilised to analyse the collected data to
establish the influence of financial literacy
on the growth of JOYWO registered
women groups in Kajiado County, Kenya.
The data were visually presented in tables
and figures. From the regression results, the
study found that financial knowledge had a
significant influence on the growth of
JOYWO registered groups in Kajiado
County, Kenya. Financial behaviour had a
significant influence on the growth of
JOYWO registered groups in Kajiado
County, Kenya. Financial attitude had a
significant influence on the growth of
JOYWO registered groups in Kajiado
County, Kenya. The study recommended
that JOYWO management should offer
training to members of groups registered by
them to enhance their financial literacy
skills. The government should also develop
policies that mandate the management of
women groups to offer its members with
financial education to enhance their
financial literacy.
Description
A research article published in International Academic Journal of Economics and Finance
Keywords
Financial Knowledge, Financial Behaviour, Financial Attitude and Growth of Women Groups
Citation
Gichuhi, A. W., Mwangi, L. W. (2021). Financial behaviour and growth of women groups in Kenya - A case study of Joyful Women Organisation registered groups in Kajiado county. International Academic Journal of Economics and Finance, 3(6), 317-332