IMPACT OF SACCOS IN POVERTY ERADICATION AMONG FARMERS IN MURANGA COUNTY, KENYA
Abstract
The main objective of this study was to find out the role of SACCOs in the eradication of poverty of the members’ among farmers in Muranga County. To successfully achieve the study objective the research was guided by the following specific objectives:- To determine the extent to which deposits/share capital help in eradication of poverty among farmers; To find out how the loans issued by the SACCOs help in eradication of poverty among farmers, and to establish the extent to which training of farmers help in eradication of poverty among farmers. The study findings reveal that there was a significant relationship between share capital/deposit and poverty eradication (p=0.000), between loan issued and poverty eradication (p=0.003), but there was no significant relationship between training and poverty eradication (p=0.711). The study concluded that growth in SACCO loans facilitates members in wealth creation. This implies that the size of the loan that a member qualifies will determine the economic status of such a member. The study recommended that the SACCO should continuously encourage members to increase their share capital and also to increase their borrowings so as to increase their economic strength.
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