EFFECTS OF WOMEN PARTICIPATION IN SAVING MOBILIZATION SCHEME ON ENTERPRISE DEVELOPMENT IN NIGER STATE, NIGERIA

Abstract

ABSTRACT

The study assess the effectiveness of women participation in saving mobilization scheme on enterprise development in Niger state. The objectives were to describe the socioeconomic characteristics of the respondents: assess types of saving mobilization engaged by the respondents: identify the various economic development enterprises engaged in by the rural women: factors influencing women participation in saving mobilization scheme: determine the effect of women participation in saving mobilization scheme on enterprise development and identify the constraints associated with rural women participation in saving mobilizations scheme. There (3) local government areas were purposively selected, one hundred and sixty eight (168) respondents were randomly selected for interview from sample frame of 296 registered women cooperatives groups, using 20% based on the number of women in each of the registered groups obtained as sample frame. Well-structured questionnaire was used to obtained data. Descriptive statistical techniques such as the frequency distribution, percentages and mean were used to examine the socio-economic characteristics of the participants in the study area. Also, 3-point Likert type rating scale was used to measure the level of rural women participation in saving mobilization scheme. Inferential statistical techniques namely; Logit regression and Tobit regression were used to determine the effects of women participation in saving mobilization scheme and economic enterprises development respectively. Also, Kendall Coefficient of Concordance was to examine the constraints associated with women participation in saving mobilization scheme. The findings of the study revealed that (31.2%) of the women had formal education with secondary certificate. The major type of saving mobilization were: contribution (81.6%) esusu (73.8%), keeping livestock (55.4.%) and bank (54.8%). The result show that, the value of coefficient of determination R2 was 22.0% as factors that influencing the women participation is saving mobilization scheme in the study are implying that 71.55 % of the variation in the dependent variable is explained by the independent variables in the logit regression model. The increase in education level (0.01%), scale up enterprises (0.10%), annual enterprise income (0.01%), access to credit (0.10%), and amount of saving mobilized annually (0.01%) were all significant and directly related to factors influcing participation in saving mobilization scheme in the study area. This implies that one unit increase in any of the variable will lead to an increase in the level of participation in savings mobilization scheme. Ability to send children to school, improve income, scale up enterprises, self-reliance, ability to acquire more assets, empowerment, access to financial credit facility, access to improve health care services and environmental social impact were effects of saving mobilization scheme on women enterprises development. It was further revealed that increase in investment, increase in income, increase in farm size, opening of new branches, better linkages to market, enhance standard of living, access to credit and diversifying into profitable business are effects of saving mobilization scheme on participant’s enterprises development. The result revealed that eleven constraints were identified as key problems faced by the women participanting in saving mobilization scheme in the study area. Distance to Bank with mean (4.57) as the most serious constraint faced by the participant. Based on the result from the findings of this study, it can be concluded that there is high level of participation by the respondents in saving mobilization scheme in developing their enterprise. It is recommended that, there is need for financial institutions to be closer to the rural communities and responsible for provision of flexible credit funds to assist rural women through cooperatives that will enhance more participation and saving ability.