Analysis of the effects of strategies used by SACCOs on saving mobilization
Waigera, John Macharia
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The study analyzed strategies used by Saccos on savings mobilization. A survey of selected Saccos in Muranga East district was done. In the study savings mobilization means the increase in the amount of Sacco shares and deposits. The researcher wanted to find out the relationship between different strategies used by Saccos and the amount of funds they mobilize. This would help to understand how Saccos can improve their low levels of savings. An examination of various theories underlying savings was done as well as studies of past research work on factors influencing savings. Using stratified random sampling, a sample of 42 respondents was obtained and data collected by use of questionnaires. Various challenges were encountered during questionnaire administration such as respondent fatigue due to lack of implementation of past research work. The data was analyzed through correlation analysis and tests of hypothesis done at 95% confidence level. The results were presented by use of bar-graphs, tables and pie-charts. The different variables being analyzed; convenience, accessibility, reliability, education and incentives were found to have a strong correlation with the independent variable, savings mobilization. The researcher recommends further research on the impact of ICT platforms such as M-¬pesa, M-Sacco, M-kesho, Pesa-Pap and EFT on savings mobilization. This is to establish whether the adoption of these technologies as a convenience measure has helped to increase savings.