Role of training programs on the management of saccos in Mombasa county, Kenya

Abstract

The objective of SACCO Societies is member empowerment through savings mobilization, disbursement of credit and ensuring SACCOs’ long-term sustainability through prudent financial practice. The purpose of this study was to establish the role of training programs in the management of SACCOs in Mombasa County. The target population was all SACCOs in former Mombasa District - Mombasa County which had been in existence for over two years in the year 2015. The respondents were the Chief Executive Officers (CEOs) and managers of these SACCOs. The study used Descriptive Survey methodology which enabled the researcher to gather more information to assist in analysis and arrive at accurate results. The data collected was analysed, with respect to the study objectives, using both descriptive and inferential statistics. Software Package for Social Sciences (SPSS) software was used to analyse data. The findings were presented in form of percentages and tables. The study used chi-square tests to test the relationship between training in strategic planning, auditing and membership training and the management of SACCOs. The key findings revealed that the successful SACCO management was greatly influenced by training in financial management, strategic planning, succession planning and supervision. The conclusion is that there was a strong relationship between training and management of SACCOs. The study recommends that the government as well as non-governmental organisations should take an active role in providing training for the proper and successful management of the savings and credit cooperative societies. On the other hand Regular assessment of the performance of SACCOs should be done to organise for intervention if need be.