The impact of SACCOs on Poverty Reduction in urban community of Zanzibar city in Zanzibar.

Nassor, Nassra Mohamed (2022) The impact of SACCOs on Poverty Reduction in urban community of Zanzibar city in Zanzibar. Masters thesis, The Open University of Tanzania.

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Abstract

This study examines the Impacts of SACCOs on poverty reduction in urban community: A case study of Zanzibar city. The study explored three objectives. First, to assess social factors done by ELIMU SACCOs that leads the economic improvement in Zanzibar. Second, to assess economic factors supported by ELIMU SACCOs in poverty reduction in Zanzibar. Third, to examine the impact of political factors towards economic improvement in Zanzibar. Mixed research approaches of quantitative and qualitative were employed in this study. It consists 80 informants; these are 60 teachers, 10 SACCOs officers and 10 members from the MoEVTZ. Three techniques were used in the study; these are documentary review, questionnaire and interview. Statistical Package for Social Sciences (SPSS) used for quantitative data analysis where descriptive was used for qualitative data. The study used theory called Cultural Theory of Poverty. The findings revealed that household service is the mainly social factor provided by ELIMU SACCOs that sustain economic development. Besides, the findings revealed that ELIMU SACCOs supports its members economically through provision of financial loans, emergency loans and materials loans. Lastly, the data revealed that good decision making that favor lower segment income has a great impact in influence life standard of SACCOs members. The study concluded that ELIMU SACCOs could not enhance high social development because it engaged in fewer social factors that influence development. The study provided areas to be further investigated; these are: the contribution of SACCOs on women struggling against poverty in Zanzibar and impact of SACCOs in improving entrepreneurship in Urban district of Zanzibar. Keywords: SACCOs, Microfinance, Cooperative, Poverty.

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