Factors Affecting Growth of Employee-Based Saving and Credit Cooperative Societies (SACCOS) in Tanzania.

Salehe, Fedi (2023) Factors Affecting Growth of Employee-Based Saving and Credit Cooperative Societies (SACCOS) in Tanzania. Masters thesis, The Open University of Tanzania.

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Abstract

Saving and Credit Cooperative Societies (SACCOS) are crucial financial institutions for overcoming financial exclusion in Tanzania. However, they face numerous problems that negatively affect their survival. This study assessed the factors affecting the growth of employee-based SACCOS in Tanzania, focusing on board leadership/management, employee qualifications and member awareness. Purposive and snowball sampling methods were used to select 15 respondents from SACCOS "X" based in Dar es Salaam, Tanzania. The data were collected through in-depth interviews using an interview guide. The data analysis used thematic and content analysis. The findings suggest that board leadership, employee qualifications and members' awareness were not in a position to support the growth of employee-based SACCOS X. The findings indicated that the growth of employee-based SACCOS was affected by poor board leadership, low qualifications of employees and low members' awareness. The study recommends policy makers to formulate policies that will restrict the employee-based SACCOS from operating without qualified board members, qualified employees and members' awareness. The study contributes to the agency theory by assessing the agency-principle challenges associated with employee-based SACCOS. Keywords: Employee based SACCOS, Growth, Tanzania

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