Abstract: The objective of this study was to investigate the influence of innovations on financial performance of deposit taking Sacco’s in Nairobi County. The study covered a period of 5 years from 2012 to 2016. The research adopted a descriptive survey design employed to all the 41 deposit taking SACCOs in Nairobi County licensed by SASRA. A census study targeted 123 members of staff from the 41 SACCOs. A Structured questionnaire was used to collect primary data from respondents. Secondary data was sourced from the Sacco’s annual financial reports and SASRA supervisory reports. Descriptive statistics like means, standard deviation, co-efficient of variation and percentages was used to summarize results that were presented in tables, charts and graphs. A multiple regression analysis was be used to show the causal relationship between the independent variables and the dependent variable. The results indicated that there was a positive relationship between innovation and financial performance of deposit taking Sacco’s in Nairobi County. The study concluded that innovation is a predictor of financial performance of Saccos in Nairobi County. All the three types of innovation had a positive and statistically significant influence on the financial performance. The study recommended that the government should pass legislation that will support the Sacco’s to adopt more innovation in order to improve performance. This will help them move from the traditional products to more innovative products that are tailored to meet members‟ needs.
Keywords: innovations, financial performance, deposit taking Sacco’s, SASRA.
Title: INFLUENCE OF INNOVATIONS ON FINANCIAL PERFORMANCE OF DEPOSIT TAKING SACCOS IN NAIROBI COUNTY KENYA
Author: HENRY MWINYA WANDERA, DR.TOBIAS OLWENY, DR.WEDA C.W
International Journal of Social Science and Humanities Research
ISSN 2348-3156 (Print), ISSN 2348-3164 (online)
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