Role of Savings and Credit Cooperatives on Economic Transformation of Societies: A Case Study of Unique SACCO in Kabale Municipality.
The study investigated the impact of savings and credit cooperatives on societal economic transformation, focusing on Unique SACCO as a case study. Its objectives included examining the services provided by Unique SACCO to its members, evaluating its influence on socio-economic transformation, and a...
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| Format: | Thesis |
| Language: | English |
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Kabale University
2024
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| Online Access: | http://hdl.handle.net/20.500.12493/2121 |
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| Summary: | The study investigated the impact of savings and credit cooperatives on societal economic transformation, focusing on Unique SACCO as a case study. Its objectives included examining the services provided by Unique SACCO to its members, evaluating its influence on socio-economic transformation, and assessing the challenges encountered by SACCOs in fostering such transformation. Employing a case study research design, data was gathered through interviews and questionnaires. Regarding the services offered by Unique SACCO, findings indicated that key services included savings facilities, management of savings accounts, terms of interest on savings, and credit services. In terms of socio-economic transformation, the study revealed that Unique SACCO contributed to increased income, empowerment of women, food security, enhanced productivity, job creation, improved living standards through loans, community cohesion, and financial advisory services on resource allocation. Challenges identified in promoting socio-economic transformation included inadequate infrastructure, dependency tendencies, concerns over collateral repossession, loan defaults, inadequate government policies affecting SACCOs, mismanagement by officials, and deficiencies in IT infrastructure leading to poor service delivery. The study recommended government intervention in infrastructure development to facilitate market access for SACCO clients, clear policy formulation to support SACCO development and societal transformation, and proactive loan management strategies to enhance SACCO profitability and growth. |
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