The Role of Savings and Credit Co-operative Societies (Saccos) on Women Empowerment in Kenya: a Case Study of United Women Sacco

Abstract

Access and control over economic and financial resources is necessary for realizing gender equality and women empowerment for the long-term sustainability of economic growth as well as development. This study was set out to investigate the role of savings and credit co-operative societies (Saccos) on women empowerment in Kenya. The first objective was to measure the status of empowerment of women in the Sacco. The members of the group were found to have benefited through improvement in savings, the ability to access credit/loans necessary for expansion, financial advisory, add capital to investment by members, starting businesses and other benefits. The second objective was to ascertain the factors related to empowerment of female gender. Logit model was employed to determine factors that played an important and significant role on affecting the indicators of women empowerment .Finally, this study sought to determine relationship between SACCOs services/benefits and women empowerment. The benefits of the SACCOs and impact have a positive significant relationship between Saccos and the three indicators of women empowerment. This study relied on primary cross sectional data collected from 42 current members of the United Women Sacco in Nairobi County. This study gave recommendations on the policy implication of the study findings and how they could be applied towards empowering women. In conclusion, the study suggested a further research on the role of institutions and geographical settings towards women economic empowerment.