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Effect of Working Capital Management on Financial Performance of Savings and Credit Cooperative Societies in Sheema Municipality, Uganda
Author: Natukunda Neema, Andrew Nyakundi, Tom Mulegi, Manyange Michael and David Nyambane
Publisher: IDOSR JOURNAL OF HUMANITIES AND SOCIAL SCIENCES
Published: 2023
Section: Faculty of Clinical Medicine and Dentistry
Abstract
This study examines the impact of working capital management on the financial performance of
Savings and Credit Cooperative Societies (SACCOs) in Sheema Municipality, Uganda. SACCOs
play a vital role in Uganda's economic development, contributing to the country's GDP and
providing financial services to a significant portion of the population. However, SACCOs have
faced challenges in managing their working capital, particularly in cash management, accounts
receivable management, and accounts payable management. The study employed a descriptive
research design with a sample size of 106 respondents. The data was collected using
questionnaires, and the study used multiple regression analysis to analyze the data. The
findings indicated that cash management and accounts payable management had an
insignificant effect on financial performance, while accounts receivable management had a
significant effect. The study recommends the implementation of automated systems, effective
internal controls, and staff training to improve SACCOs' working capital management. The
research is valuable for government policymakers, scholars, and SACCO management teams.