ABSTRACT
The study was conducted in Abia State of Nigeria. The work
identified saving mobilizing institutions and their distribution in the study
area. It also examined the variables that affect saving mobilization as well as
the performance of savings mobilizing institutions in Abia State. Twenty two
rural Communities where rural banks are located were purposively selected for
the study. \AJith the assistance of Bank workers, staff of Cooperatives
department and ADP Staff, respondents were purposively selected from the 22
Communities. The respondents consist of 245 people who had cash savings and 94
people who held savings, in non cash forms. The study was conducted between
July and December, 2003. Descriptive statistics (such as averages, percentages
and frequency distribution) and the regression analysis were used for data
analysis. The study identified 45 rural based banks and 2067 Cooperative
Societies, which are involved in savings mobilization across the State.
However, most of the banks and Cooperative Societies situate in Ohafia
Agricultural zones. The variables that had significant influence on saving
mobilization by banks were age of bank, minimum amount of money required for
operating savings account, interest payment on savings and the projected income
by banks. On the other hand, saving mobilization by Cooperative Societies were
determined by the value of Cooperative reserve, value of loans granted to
Cooperative members and the interest payment on saving. Though most savers
prefer the institutional organizations, a good number patronize itinerant
savings collectors, Workers xii Saving Groups and the thrift and Loan
Associations. Age, disposable income, interest payment on saving and wealth
were statistically significant in influencing cash saving of individuals. On
the other hand household size distance of respondent's house to rural bank,
value of asset and off-season price were significant in determining savings in
non-cash form. The average cash savings by respondents who used banks varied
per household in the three zones. The average savings generated by banks was
N40,771,057, while the average savings generated by the Cooperatives was
N3,706.12. In comparative terms, Cooperatives reached out to a greater
percentage of the rural populace (5.70 percent) than banks which covered 4.76
percent of the rural population. Based on the findings, the work concluded that
both household and institution variables determined the value of savings
mobilized.
MEJEHA, O (2021). Determinants Of Savings Mobilization In The Rural Economy Of Abia State, Nigeria. Mouau.afribary.org: Retrieved Nov 24, 2024, from https://repository.mouau.edu.ng/work/view/determinants-of-savings-mobilization-in-the-rural-economy-of-abia-state-nigeria-7-2
ONYEKACHI, MEJEHA. "Determinants Of Savings Mobilization In The Rural Economy Of Abia State, Nigeria" Mouau.afribary.org. Mouau.afribary.org, 27 Oct. 2021, https://repository.mouau.edu.ng/work/view/determinants-of-savings-mobilization-in-the-rural-economy-of-abia-state-nigeria-7-2. Accessed 24 Nov. 2024.
ONYEKACHI, MEJEHA. "Determinants Of Savings Mobilization In The Rural Economy Of Abia State, Nigeria". Mouau.afribary.org, Mouau.afribary.org, 27 Oct. 2021. Web. 24 Nov. 2024. < https://repository.mouau.edu.ng/work/view/determinants-of-savings-mobilization-in-the-rural-economy-of-abia-state-nigeria-7-2 >.
ONYEKACHI, MEJEHA. "Determinants Of Savings Mobilization In The Rural Economy Of Abia State, Nigeria" Mouau.afribary.org (2021). Accessed 24 Nov. 2024. https://repository.mouau.edu.ng/work/view/determinants-of-savings-mobilization-in-the-rural-economy-of-abia-state-nigeria-7-2