Establishment of savings and credit cooperative society for Parakuyo Imara: a case of Parakuyo Imara Livestock Primary Cooperative Society Limited in Mikongoro Sub Village, Msata Ward, Bagamoyo District

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Southern New Hampshire University
The Parakuyo Imara Livestock Primary Cooperative Society (Parakuyo Imara) is a community-based organization (CBO) based in Mikongoro sub-village in Msata ward, Bagamoyo district. Most of Parakuyo Imara members are pastoralist MAASAI by tribe. Parakuyo Imara had 22 founder members, comprising of 6 women and 16 men, residents of Mikongoro in the year 2000. The community members face a problem of low level of income, which induces poor quality of livestock and crop production due to poor methods of crop and animal husbandry. The CBO objective was to improve the livelihoods of its members and those of the community as a whole through improved crop production and livestock husbandry practices. The CBO was registered as livestock primary cooperative society under the Cooperatives Act, 1991. The study therefore aims to find out feasible and viable ways of establishing Savings and Credit Cooperative Society (SACCOS) at Msata ward. The study considered SACCOS as the best and simply means of generating capital for investment among poor. The research involved a sample size of 38 respondents 14 were female, and 24 were male. A research finding shows the necessity of establishment of a SACCOS in the community. The community expected the newly established SACCOS to solve the identified problem of low capital investment to boost up income level of the members. The project seeks Members and leaders to mobilize local savings and operate a small-scale credit facility through SACCOS. (Author abstract)