Factors Affecting the Growth of Tea Saccos in Kenya
Kenyan Sacco sector constitutes a significant proportion of the country’s savings and this has spurred the economy and social development. A Credit union is a co-operative whose main agenda is to collect and pool savings for their members and then provide the members with credit and/or loan facilities (Lari, 2009). It has been established that there are factors that have a great bearing on the growth of Tea SACCOs. The study main objective was to determine the factors that affect the growth of tea SACCOs in Kenya. The specific objectives that guided the study were; determining the effect of internal capital, establishing the effects faced by cooperatives due to competition from other financial institutions such as banks and to establish the effect of managerial abilities of SACCO management personnel. A descriptive research design was incorporated in the study, which mainly describes the current state of affairs. In this study, the population is 34 SACCOs licensed by Sacco Societies Regulatory Authority (SASRA) and that have been in operation in between 2012 and 2016. The study relied on both primary and secondary data as they usually reinforce each other. Primary data, mainly quantitative, which is concerned with the relationship of employee commitment, employee engagement, strategic leadership and firm performance, was collected through questionnaires. Quantitative and qualitative data were collected. In qualitative, questionnaires administered to the employees of Kenya tea SACCOs were used to collect the primary data. Data was analyzed using descriptive statistics and correlation analysis and was presented using tables and bar graphs. Primary data was cleaned and coded before analysis.
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