%0 Journal Article
%T Examining Challenges Leading to Low Integration of Savings and Credit Co-Operative Societies (SACCOs) in National Economies: A Study of Zambia
%A Matongo Chikuba Shilimi
%J Open Journal of Business and Management
%P 1338-1366
%@ 2329-3292
%D 2021
%I Scientific Research Publishing
%R 10.4236/ojbm.2021.93073
%X <span style=\"font-family:Verdana;\">Savings and Credit Co-operative Societies (SACCOs)
contribute significantly towards economically empowering people and easing
poverty owing to their member-driven structure in ownership, management, </span><span style=\"font-family:Verdana;\">mobilising</span><span style=\"font-family:Verdana;\"> resources </span><span style=\"font-family:Verdana;\">and</span><span style=\"font-family:Verdana;\"> advancing low-cost credit without </span><span style=\"font-family:Verdana;\">need</span><span style=\"font-family:Verdana;\"> for external collateral. In Zambia, SACCOs integration is low,
hence the impetus for this research. The target population included adult-age
Zambians and the sample was derived using multistage and simple random sampling
techniques. Adopting a quantitative approach, data was gathered using a
questionnaire. ANOVA tests on the statistical significance between the
independent and dependent variables </span><span style=\"font-family:Verdana;\">w</span><span style=\"font-family:Verdana;\">ere</span><span style=\"font-family:&quot;\"> <i><span style=\"font-family:Verdana;\">F</span></i><span style=\"font-family:Verdana;\"> (8,
269) = 505.92, </span><i><span style=\"font-family:Verdana;\">p</span></i><span style=\"font-family:Verdana;\"> &lt;</span></span><span style=\"font-family:Verdana;\"> 0</span><span style=\"font-family:&quot;\"><span style=\"font-family:Verdana;\">.05. Research findings reveal </span><span style=\"font-family:Verdana;\">strong</span><span style=\"font-family:Verdana;\">, positive relationship between </span></span><span style=\"font-family:Verdana;\">the </span><span style=\"font-family:Verdana;\">use</span><span style=\"font-family:Verdana;\"> of SACCOs and awareness education, financial literacy, societal
influence, governance, and government regulation, while </span><span style=\"font-family:Verdana;\">the </span><span style=\"font-family:Verdana;\">use</span><span style=\"font-family:Verdana;\"> of SACCOs and income had a significant</span><span style=\"font-family:Verdana;\">ly</span><span style=\"font-family:&quot;\"><span style=\"font-family:Verdana;\"> negative correlation. The correlation between age and gender and </span><span style=\"font-family:Verdana;\">use</span><span style=\"font-family:Verdana;\"> of SACCOs was not significant. The study
recommends that the government takes strategic leadership in reviving the SACCO
sector through awareness education and enacting enforceable legislation to
govern SACCOs. Communities should be empowered to drive the integration
%K SACCO
%K Co-Operative
%K Zambia
%K Economic-Empowerment
%K Poverty-Alleviation
%K Financial Literacy
%K Government Regulation
%K Governance
%K Income
%U http://www.scirp.org/journal/PaperInformation.aspx?PaperID=109562