Savings and Credit Cooperatives on the Success of Small and Medium Enterprises in Umwalimu Sacco Rwanda

ABSTRACT The study on SACCO and Success or SMEs In Rwancla to sougn explore the role of contributions of SACCOs on the success of StiEs was guided by four research objectives: (I) to determine respondent’s profile in terms of gender, age, marital status, level of education and experience; (ii) to determine the level of contribution of U~ WALIMU SACCOs to SMEs in Rwanda; (iii) to determine the level success of SMEs in Rwanda and; (iv) to determine the relationship between the level of contribution of UMWALIMIJ SACCOs and the success of StiEs in Rwanda The study employed a descriptive survey design specifically the descriptive comparative and descriptive correlation strategies; SAQ were used to collect data from 120 respondents out of 175 target population. Data was analyzed using frequencies and percentages, means and standard deviation and PLCC. The findings revealed that majority of the respondents were male, respondents in the age bracket of 30 — 39years dominated the study; over a half of the respondents were married and with diploma as their highest level of education. Lastly most customers acquire loans for a period of Syears and above. Study went ahead and revealed that the contribution of SACCO to the success of StiEs was very high. Similarly the level of success of StiEs in Rwanda was also very high. Lastly results from P1CC indicated that there was a positive and significant relationship between the level of contribution and the success of StiEs in Rwanda. The researcher recommends that SACCOs should develop varied products that meet various categories of membership needs. Reward of best and regular savers by management should be taken seriously in SACCOs and so is payment of interest on savings deposits and the government should strengthen supervision and licensing and facilitate SACCOs to acquire bank codes to handle salaries for the professional members so as to attract new professionals and retain old ones in SACCOs.