Abstract
This dissertation is presented on the topic, “Debt management literacy and financial performance of SACCOs in Kumi County”. The overall objective of the study was to determine the effect of Debt management literacy on financial performance of SACCOs in Kumi County and to achieve this the researcher used one specific objective Vinz; “To determine the effect of Debt management literacy on financial performance of SACCOs in Kumi County”. In carrying out the study, the researcher used a case study research design because of its ability to investigate the study variables in detail. The population under study was 150 (N) people and a sample population of 108 (n) people consisting of; SACCO board members, SACCO management team members and SACCO members. The sample size was determined by use of both probability and non-probability sampling techniques. In data collection, the researcher used a duo approach with the use of; Questionnaire survey method which allowed collection of firsthand information within a short period of time and interview method employed on some key informants i.e. SACCO Board members as this was intended to probe for more information, get clarification and capture facial expression. Two tools in this context were used i.e. Research Questionnaire and interview guide. The data collected was both quantitative and qualitative in nature. Data analysis was carried out in two fold; Quantitative data was analysed using Statistical Package for Social Scientists (SPSS) version 25*64 bit. Qualitative data was recorded in the researchers note book and transcribed for a clear meaning. The research findings highlighted a strong positive relationship between debt management literacy and financial performance of SACCOs with R = 0.666. The study confirmed that Debt management literacy explains 44.4% of financial performance as evident with R2= 0.444. The researcher based on the study findings recommended creation of awareness and corporative member education on debt management; Documentation and implementation of a comprehensive credit or debt management policy; There must be a clear line of authority as to who authorizes and approves what and creation of a policy on relationship management strategies so as to ensure long and lasting beneficial relationships with clients.
Highlights
The first modern cooperation emerged in certain working class environments in European industrial cities in 1840s, i.e. in Great Britain and France
The analysis showed that there is a significant strong positive relationship between debt management literacy and financial performance of Savings and Credit Cooperatives (SACCOs) evident with R=0.666 with significance at p= 0.000
The analysis revealed that debt management literacy explains 44.4% of financial performance of SACCOs evident with R2 =0.444
Summary
The first modern cooperation emerged in certain working class environments in European industrial cities in 1840s, i.e. in Great Britain and France. The pioneers of modern cooperation emerged in working-class environments in European Industrial cities in the 19th Century. The second generation of the pioneers of modern cooperation emerged, in certain European rural environments in the late 19th century. In the frequency distribution above the researcher observed that 40 male respondents representing 45.5% and 47 female respondents representing 53.4% of the total respondents participated in the research study. The implication of this distribution is that there are more females than males in Kumi SACCOs
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