Contribution of SACCOs towards welfrae among households in Kidongole Sub-County, Bukedea District

Abstract

The major purpose of the study was to examine the Contribution of SACCOs towards welfare among households in Kidongole Sub-County, Bukedea district. The study is guided by the following objectives; to establish the relationship between savings and acquisition of essential assets by households, to find out whether improved savings culture contribute to households’ ability to pay medical bills, school fees and others, and to determine the relationship between loans issued by SACCOs and households monthly total expenditure. The study design consisted of triangulation of both qualitative and quantitative research designs and both probability and non-probability sampling techniques were employed. Cluster sampling was mainly used in order to obtain the representative sample of people’s annual income while purposive sampling was used so as to capture data from key informants. A sample size of 80 respondents computed using Yamane’s formula was considered, primary data was collected by the use of questionnaires which focused on the research questions. Secondary data was got from journal reports and internet which are in relation to the study objectives. Data was entered into excel, edited and imported to STATA where it was coded and analysed. Data was also presented in tables, charts and multiple regression analysis was used due to availability of more than two independent variables affecting the dependent variable. Findings on the Social demographic and economic characteristics of the farmers were obtained for example the study showed that most of the farmers were females (63.75%), the study also shows that an average farmer in the association was 40 years old and was responsible for up to 8 dependants in his/her household on average. The study indicated that, majority of the households were able to save with the association (93.75%) and there was a significant relationship between savings and asset acquisition. The researcher also emphasized some recommendations to the association that is; the Association should educate, train and sensitize the members and the general public about the importance of saving in line with welfare improvement so that they are encouraged and hence develop the spirit of savings and entrepreneurship.