example of a swot analysis of a sacco society

SWOT ANALYSIS OF A SACCO SOCIETY

SWOT ANALYSIS OF
A SACCO SOCIETY

BY STEPHEN KIRITU MWANGI A CO-OPERATOR

S-STRENGTH -Loyal membership-Ready market for product and services offered-Favorable interest rates-Credit facilities are accessible and conditions not stringent-Management is accessible and approachableMember recruitment and marketing-Board and member confidence-Strong , transparent and Informed leadership-Established team and team work-Competent , committed and hardworking staff-Experienced management and skilled staff-Good reputation, positive image and brand

W-WEAKNESSES -Most members are net borrowers and not savers-Savings are not realized out of personal decision but as a result of the minimum set by the general meeting-Leadership through democratic practice and often leaders would want to be loyal to the electorate -Leaders lack entrepreneurship/business skills-Disregard of policies (i.e. credit policy) by management -Pressure and demand from members because of promise during the election period-Increasing poverty levels and inflation forcing members to seek cheap financial support-perpetual borrowers-Members not able to do self-appraisal of projected investments

O-OPPORTUNITIES-Unsatisfied demand from the members/customers-Amendments to the Co-operative Societies Act, Rules and By-Laws i.e. open up membership, diversity in other products (Front Office Services)-A sound representation in the Apex bodies (corporate image, synergies)-Open agency banking-Advancement and Growth in Technology e.g. mobile banking (MPESA, ZAP)-Aggressive marketing and publicity campaign of products and services-Potential to attract more membership because of its financial stability and good customer service

O-OPPORTUNITIES CONT-Salary processing for members -Regulated business environment-A wider and unexploited and untapped market regions -Introduction of new loan products-Innovativeness in product branding-Poor performance of other SACCOs in the region-Opening of branches and service centres to bring services closer to members-Close relations with the employer-Embracing of partnership with other organization and stake holders-Education and training of members

T-THREATS-Competition from micro-finance institutions and banks-Change of policies and legal framework-Increasing poverty levels and inflation-HIV/AIDS pandemic-Retrenchments and redundancies affect the capital base and membership-Technological changes in the financial and business sector-Ageing membership-High rate of member withdrawal-Lack of awareness ,ignorance and poor patronage among some members-Transfer of SACCO members from their work place

THANK YOU

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