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Problems facing saccos
1)weak leadership and governance that result to poor coordination of Sacco activities.
2)competition from already established and strong firms e.g commercial banks.
3)inadequate financial resources that hinder expansion.
4)Unfavourable government policies e.g changes in cooperative legislation.
5)insufficient technological development e.g need to cope with the pace of information Technology advancement
6)inadequate government support
Solutions
1)cultivating strong leadership to minimise resource wastage.
2)Proper management of scarce resources through avoiding corruption.
3)investing in appropriate information technology.
4)understand customer needs and wants.
5)Ensure the Sacco is more competitive through better focus, products and service provision.
6)The Sacco should work in partnership with the government for better policy and legislation.
nijoh answered the question on November 7, 2017 at 20:48
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