Factors influencing performance of savings and credit co-operative societies in Bomet County
The ever changing socio-economic landscape in the co-operatives and Sacco sector in the country is bringing about the need for a total retink and overhaul about the role this sector is supposed to play in socio-economic development of the country, poverty eradication with economic empowerment topping the agenda. In Bomet County there are 18 active Saccos and 10 dormant ones registered for the purpose of uplifting the living standards of the residents but little seemed to have been achieved. This study was guided by the following objectives:- to determine the extend to which management competency influence performance of SACCOs in Bomet County, to determine the extent to which personnel influence the performance of SACCOs in Bomet County, to determine the extent to which computerization influence performance of SACCOs in Bomet County, to determine the extent to which market competition influence performance of SACCOs in Bomet County, to determine the extent to which financial stability influence the performance of SACCOs in Bomet County and to come up with recommendations on how to improve performance of SACCOs for a stable co-operative movement in the country. The study was guided by modern 'Portfolio Theory' or ' Portfolio Management Theory' developed by Professor Horry Markwitz of the University of Chicago in 1952. The Theory guides institutions and savings investors on how to construct their investment portfolios and how to mitigate risks through portfolio diversifications and thus increase returns to investors. The study adopted a descriptive survey research design. By use of questionnaires, 150 respondents who were management staff of the Saccos, who in this case were the target population, were interviewed. Data was also collected using observation and key informant interviews. Simple random sampling was the main method of sampling techniques that was employed in this study. The findings will be significant to the researchers and scholars in that it will form a basis for further research, management of the Saccos as it will act as a guide to setting up strategies of improving their performance. In conclusions the study recommends that the management of Saccos should improve their performance by searching of the best ideas and taking advantage of the available opportunities, make proper financial plans, proper selection of personnel, adapt technological change and improve on competitiveness in order to win the markets and in overall have a financially stable and well managed co-operative movement in Bomet County.