IDEAS home Printed from https://ideas.repec.org/a/mth/bmsmti/v15y2024i2p260-282.html
   My bibliography  Save this article

Influence of Savings and Credit Co-operative Societies in Enhancing Debt Management Literacy among Members in Moshi Municipality, Tanzania

Author

Listed:
  • Jackson Paschal
  • Nyanjige Mayala
  • Amembah A. Lamu Amos

Abstract

The study explored how Savings and Credit Cooperative Societies (SACCOs) enhance debt management literacy among members in Moshi Municipality, guided by Financial Socialization Theory. Using a convergent design under a mixed methods approach, the target population included nine SACCOs, 13,053 clients, and 20 employees. A sample of 3 SACCOs, 100 customers, and 5 managers was selected through simple random, stratified random, and purposive sampling techniques. Data were collected via questionnaires for customers and interviews for staff members. Validity was ensured by presenting the instruments to research experts, and a pilot test involving 35 participants assessed reliability, with Cronbach's alpha calculated at 0.95, indicating high reliability. The findings revealed that SACCO members generally acknowledge the organizations' role in promoting debt management skills. However, perspectives varied on the effectiveness of the training provided. The study recommended that SACCOs empower members to manage their cash flow better, offering practical knowledge and skills for debt and cash flow management. In conclusion, it emphasized the importance of SACCOs in equipping members with the necessary tools to improve their financial literacy and debt management capabilities.

Suggested Citation

  • Jackson Paschal & Nyanjige Mayala & Amembah A. Lamu Amos, 2024. "Influence of Savings and Credit Co-operative Societies in Enhancing Debt Management Literacy among Members in Moshi Municipality, Tanzania," Business Management and Strategy, Macrothink Institute, vol. 15(2), pages 260-282, December.
    • Handle: RePEc:mth:bmsmti:v:15:y:2024:i:2:p:260-282
    as

    Download full text from publisher

    File URL: https://www.macrothink.org/journal/index.php/bms/article/download/22197/17112
    Download Restriction: no
    File URL: https://www.macrothink.org/journal/index.php/bms/article/view/22197
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Léon, Florian & Zins, Alexandra, 2020. "Regional foreign banks and financial inclusion: Evidence from Africa," Economic Modelling, Elsevier, vol. 84(C), pages 102-116.
    2. Mara Ferreri & Lorenzo Vidal, 2022. "Public-cooperative policy mechanisms for housing commons," International Journal of Housing Policy, Taylor & Francis Journals, vol. 22(2), pages 149-173, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Hu, Yue & Liu, Chang & Peng, Jiangang, 2021. "Financial inclusion and agricultural total factor productivity growth in China," Economic Modelling, Elsevier, vol. 96(C), pages 68-82.
    2. Peterson K. Ozili, 2021. "Financial inclusion research around the world: A review," Forum for Social Economics, Taylor & Francis Journals, vol. 50(4), pages 457-479, October.
    3. Alicia Girón & Amirreza Kazemikhasragh & Antonella Francesca Cicchiello & Eva Panetti, 2022. "Financial Inclusion Measurement in the Least Developed Countries in Asia and Africa," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 13(2), pages 1198-1211, June.
    4. Olatunji A. Shobande & Simplice A. Asongu, 2021. "Financial Development, Human Capital Development and Climate Change in East and Southern Africa," Working Papers 21/042, European Xtramile Centre of African Studies (EXCAS).
    5. Iddrisu, Abdul Malik & Danquah, Michael, 2024. "The financial inclusion agenda: Examining the role of conventional banks in deepening access to formal credit," Economic Systems, Elsevier, vol. 48(2).
    6. Guillermo Boitano & Deybi Franco Abanto, 2020. "Challenges of financial inclusion policies in Peru," Revista Finanzas y Politica Economica, Universidad Católica de Colombia, vol. 12(1), pages 89-117, June.
    7. Léon, Florian, 2020. "The provision of long-term credit and firm growth in developing countries," Economic Modelling, Elsevier, vol. 90(C), pages 66-78.
    8. Shahid Manzoor Shah & Amjad Ali, 2022. "A Survey on Financial Inclusion: Theoretical and Empirical Literature Review," Journal of Policy Research (JPR), Research Foundation for Humanity (RFH), vol. 8(4), pages 310-330, December.
    9. Mohsin Shabir, 2024. "Does Financial Inclusion Promote Environmental Sustainability: Analyzing the Role of Technological Innovation and Economic Globalization," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(1), pages 19-46, March.
    10. Saidane, Dhafer & Sène, Babacar & Désiré Kanga, Kouamé, 2021. "Pan-African banks, banking interconnectivity: A new systemic risk measure in the WAEMU," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 74(C).
    11. Adeabah, David & Abakah, Emmanuel Joel Aikins & Tiwari, Aviral Kumar & Hammoudeh, Shawkat, 2023. "How far have we come and where should we go after 30+ years of research on Africa's emerging financial markets? A systematic review and a bibliometric network analysis," Emerging Markets Review, Elsevier, vol. 55(C).
    12. Besong, Susan Enyang & Okanda, Tellma Longy & Ndip, Simon Arrey, 2022. "An empirical analysis of the impact of banking regulations on sustainable financial inclusion in the CEMAC region," Economic Systems, Elsevier, vol. 46(1).
    13. Weidong Chen & Xiaohui Yuan, 2021. "Financial inclusion in China: an overview," Frontiers of Business Research in China, Springer, vol. 15(1), pages 1-21, December.
    14. Dong, Jiajia & Dou, Yue & Jiang, Qingzhe & Zhao, Jun, 2022. "Can financial inclusion facilitate carbon neutrality in China? The role of energy efficiency," Energy, Elsevier, vol. 251(C).
    15. Ozili, Peterson Kitakogelu & Adamu, Ahmed, 2021. "Does financial inclusion reduce non-performing loans and loan loss provisions?," MPRA Paper 109321, University Library of Munich, Germany.
    16. Ben Krishna & Satish Krishnan & M. P. Sebastian, 2023. "Examining the Relationship between National Cybersecurity Commitment, Culture, and Digital Payment Usage: An Institutional Trust Theory Perspective," Information Systems Frontiers, Springer, vol. 25(5), pages 1713-1741, October.
    17. Guowei Wang & Ashenafi Mehari & Paolo Vincenzo Genovese, 2024. "The Relationship between Spatial Behavior and External Spatial Elements in Ancient Villages Based on GPS-GIS: A Case Study of Huangshan Hinterland, China," Sustainability, MDPI, vol. 16(9), pages 1-34, April.
    18. Lovena Ramdani & Sharanam Abbana & Ferina Marimuthu, 2024. "Enhancing Operational Risk Management in the Mauritian Banking Sector: A Structured Approach," International Journal of Economics and Financial Issues, Econjournals, vol. 14(4), pages 1-8, July.
    19. repec:igg:jamtr0:v:4:y:2022:i:1:p:1-13 is not listed on IDEAS
    20. Zhai, Shixian & Peng, Chao & Sheng, Yu, 2023. "Assessing the impact of digital financial inclusion on agricultural total factor productivity in China," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 26(3), January.
    21. Lee, Chien-Chiang & Wang, Chih-Wei & Ho, Shan-Ju, 2022. "Financial aid and financial inclusion: Does risk uncertainty matter?," Pacific-Basin Finance Journal, Elsevier, vol. 71(C).

    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mth:bmsmti:v:15:y:2024:i:2:p:260-282. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Technical Support Office The email address of this maintainer does not seem to be valid anymore. Please ask Technical Support Office to update the entry or send us the correct address (email available below). General contact details of provider: http://www.macrothink.org/journal/index.php/bms .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.