Effect of Cooperative Societies’ services on Financial Empowerment of Female Fish Sellers at Kisumu Fresh Fish Market, Kisumu Town, Kenya
Abstract/ Overview
Cooperative societies' services are important in women financial empowerment. Though there
exists a well defined female fish sellers' owned cooperative society at Kisumu fresh fish market,
a number of these women still engage in sexual activities to get more fish for sale. This
contributes to the spread of HIV and AIDS in the Lake Victoria region of Kenya. HIV infection
lowers individual job performance thus affecting the region's economy. Based on this, this study
sought to establish effects of cooperative society's services on financial empowerment of the
small scale female fish sellers at the Kisumu fresh fish market in Kisumu County. The study area
choice was informed by the existence of a functioning cooperative society and strategic location.
This study was based on a self conceptualized framework. Studies in this area have not
established the magnitude of the effects of cooperative society's services on the financial
empowerment of these female fish sellers. Specific objectives of the study were to: determine
the effect of soft business loans, value addition and group investments on the ability to settle
expenses, establish the relationship between personal savings and the ability to settle expenses,
establish the relationship between group purchasing power, market sourcing and the ability to
settle expenses. Cross-sectional and correlational research designs were used in this study. A
sample of 133 female fish sellers from population of 200 women was interviewed using
questionnaires. Business records provided secondary data. Simple random sampling technique
was used to select respondents. Frequencies and percentages of responses were established using
descriptive statistics, association between study variables were established using correlation
analysis while direction and magnitude of effect of the independent and dependent variables
were determined using regression analysis. The study findings revealed that personal savings had
a positive significant association with the ability to settle expenses (r=0.236, p<O.O1), group
purchasing power had a positive significant association with the ability to settle expenses
(r=0.234, p<O.O1), market sourcing had a positive significant association with the ability to settle
expenses (r=0.201, p<0.05). This means that they all change in the same direction with the
ability to settle expenses. Regression results revealed that personal savings (~=0.225, p=0.006)
as statistically significant. There existed an insignificant positive relationship between group
purchasing power and market sourcing and the ability to settle expenses. It was recommended
that access to personal savings services be maximally exploited to financially benefit the
respondents. The study findings will be significant in financial empowerment of women, policy
making and research furtherance.