The Role of SACCOS in Financial Intermediation, a survey study in Kinondoni Municipality
The main purpose of this study was to explore on the role of SACCOS in financial intermediation. The study employed a survey study design within a framework of mixed methodology whereby purposive and random sampling procedures were used to select a sample of 60 respondents which involved SACCOS members and SACCOS members of management team in three different SACCOS of Kinondoni Municipality. Data were collected through the use of questionnaire and documentary reviews. Quantitative data were analyzed statistically by the use of computer software (MS Excel) giving frequencies and percentages. The findings of the study concur with findings obtained from the studies by different researchers that revealed the role played by SACCOS in financial intermediation through mobilizing funds from the members with excess cash and channel the excess funds to the borrowers. The findings of the study also highlighted the challenges that are faced by SACCOS in their role in financial intermediation including their perceived significance by public. Based on the research findings, the study recommends that the government and SACCOS should address the challenges crippling the optimal performance of SACCOS. Other recommendations from the study include SACCOS should play a pivotal role in identification of viable investment opportunities for their members and introduction of additional strategies aiming at attracting savings from their members.
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