Effect of Umwalimu SACCO Services on Socio-Economic Development of Teachers in Rwanda

Authors

  • Hagenimana Jean de Dieu Mount Kenya University
  • Hesbon Opiyo Andala Mount Kenya University

DOI:

https://doi.org/10.53819/81018102t5064

Abstract

The services provided Umwalimu SACCO in Rwanda play a significant role in improvement of living standard of teachers. Hence, the study sought to determine the relationship between Umwalimu SACCO and Socio-economic development of teachers in Rusizi district in Rwanda. Correlation research design was employed. The population of study consisted of 2503 teachers and staff of the UMWALIMU SACCO Rusizi district branch. The sample size was (98) determined by using the Yamane’s formula. Questionnaires, interview guides and documentary reviews were utilized as primary and secondary data collection instruments. The study findings revealed that the majority of respondents (97.95%) stated that their income increased after getting loan from UMWALIMU SACCO Rusizi district. 47.95% strongly agreed that small projects have improved their children's schooling and 46.93% strongly agreed that small businesses have improved children's access to education, have been able to pay for health insurance and have improved their access to food security because of income received from their businesses. It was found there is a is high correlation between UMWALIMU SACCO services (Credit Provision, Savings, business loans, -housing loans, -Small project loans, Savings platform-SACCO services) and socio-economic development of teachers (Increase of income, education facilities, food security, building houses, increased household savings). The Pearson correlation(r) coefficient was 0.787 with a P-value of 0.000. The study recommended the management of Umwalimu SACCO should create awareness campaigns, increase loans to their customers and train them on how to start small projects. The government and development partners should create a strong supportive policy framework, increasing public awareness and understanding of micro insurance at both regulator and other stakeholder’s levels, and building strong strategic partnerships and alliances. Moreover, the members of Umwalimu SACCO and teachers should also work hand in hand with the managerial staff to improve the services offered in their institution.

Keywords: Umwalimu SACCO, Socio-economic development, teachers and cooperative, Rwanda

Author Biographies

Hagenimana Jean de Dieu, Mount Kenya University

Post graduate student, Mount Kenya University, Rwanda

Hesbon Opiyo Andala, Mount Kenya University

Program leader and research coordinator, school of education, Mount Kenya University, Rwanda

References

Ahisimbiwe, F. (2007). The effect of saving and credit cooperatives on member culture. (Thesis, University of Kampala, Kampala, Uganda)

Cochran, W. (1963). Research Methodology as Sampling Technique 3rd ed. Paris: Golden Hill Publisher.

Edison (2012). Modern economics and definition of Welfare 3rd ed. London: Golden Hill

FinMarkTrust (2008). FinScope Rwanda 2008: Draft technical report. Retrieved from htp//www.bnr.rw

FinScope (2012). Financial inclusion in Rwanda 2008-2012.Access to finance Rwanda. Kigali, Rwanda.

Gatachew, M. (2006). Sustainable SACCO Development, Training Material. Chemonics International Inc, Kampala.

Grawitz (2001). Research in Social Sciences 3rded. Paris: Grill Mach publisher.

Jerry (1989). Definition of cooperative 3rded. Italy: Premium Publisher.

Johnson, D.B (2004). Disadvantages of cooperatives 2nded. London: Machmillan.

Kombo, D. K. & Tromp, D.L.A (2006). Proposal and thesis writing: An introduction. Nairobi, Pauline publication Africa.

Kumar A., et al (2005). Assessing financial access in Brazil. Retrieved from CGAP http://www.cgpa.rg https://doi.org/10.1596/978-0-8213-6131-3

Magill (1994). About role of Sacco 3rd ed. USA: Macmillan hill.

Marguerite, R. (2005). Mobilizing Savings. Washington, DC.

Minecofin (2009). Microfinance document 1st ed., Vol.5Kigali, Kigali- city, Rwanda. Public Library of Rwanda

Murenzi (2008). Research Methodology as statistical method 1st ed. Kigali, Kigali-City: Library Caritas

National bank of Rwanda (2008). Annual report on Bank Supervision. Kigali, Rwanda.

Okoye, G. (2009). The role of financial services cooperatives in savings mobilization and economic development. The ICC-DURBAN, Zululand.

PEARSALL, J. (1996). Ditionnary (Financial Cooperative institutions) 2nd ed. London: Machmillan publisher.

Pressana, C. (1999). Financial Management theory and practice 4thedition. New York USA.

Rosemary, A. (2001). Formal and Informal Institutions ‘lending policies and access to credit by small scale enterprises in Kenya. An empirical assessment, Africa Economic Research Consortium. Nairobi.

Rosenthal, G. G. (2003). The behavioral ecology of visual signaling in sword tails. Univ. of Texas, Austin.

Rutherford, S. (1999). The poor and their money. Oxford University Press, Delhi, India.

Sing, L. (2000). Cooperative marketing in India and Abroad 2nd ed. New Delhi: Golden Hall Publisher.

Smith, G. (1991). Research Methodology as questionnaire technique 4th ed. USA: Macmillan. Umurenge Sacco Kigabiro Annual Reports, 2013-2014

Samuelson, and Marks 2003, Have US financial institutions ‘real estate investments exhibited trend-chasing “behavior? “Review of Economics and Statistics, 7(9), 248- 58.

Schumpeter, D., (2004). Rural Women’s Access to Credit: Market Imperfections and Intrahousehold Dynamics, World Development, doi:10.1016/j. worlddev. 2004.08.005.

Downloads

Published

2022-05-21

How to Cite

Dieu, H. J. de, & Andala, H. O. (2022). Effect of Umwalimu SACCO Services on Socio-Economic Development of Teachers in Rwanda. Journal of Education, 5(1), 130–148. https://doi.org/10.53819/81018102t5064

Issue

Section

Articles

Most read articles by the same author(s)

<< < 1 2 3 4 > >>