Analysis of operational performance of savings and credit cooperatives during COVID-19 pandemic in Manzini region Eswatini
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Date
2022
Authors
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Journal ISSN
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Publisher
University of Namibia
Abstract
Savings and Credit Cooperatives Organisations (SACCOs) suffered the
maelstrom of the COVID-19 PANDEMIC which disrupted the SACCO model
to its core. This study carried out an analysis of the operational performance of
SACCOs during the COVID-19 PANDEMIC in Manzini, Eswatini. With the
guidance from the Resource Dependency Theory (RDT), this study sought to
equip SACCO managers in developing resilient strategies and empower the
SACCO movement to lobby for recognition as an essential service during a
lockdown. A qualitative research with a case study research design was carried
out. Seven SACCO managers under the Manzini region in Eswatini were
interviewed to analyse the impact of COVID-19 PANDEMIC on the operational
performance of SACCOs. Findings of this study included: the participants’
acknowledgement of the arduous operations during the lockdown; SACCOs had
to seek authorisation from the Ministry of Trade and Commerce to open business
as an “essential service”. The use of technology became inevitable for SACCOs,
since working from home became the new normal. Also, the election of the
BODs could not occur in the year, 2020. SACCOs’ innovation strategies
included embracing technology, active communication with the members; via
bulk SMSs, cell phones, emails, WhatsApp and through SACCOs
representatives in the periphery and holding regional meetings. Internal
communication was mostly, virtual. This study recommends that Eswatini
SACCOs should adopt the Six Sigma strategy, monitor customer satisfaction,
strengthen SACCOs’ IT systems, develop Risk management and Business
Continuity Plans (BCPs) and ensure preparedness for future pandemics
Description
A thesis submitted in partial fulfilment of the requirements for the master of business administration management strategy
Keywords
SACCO model, Six Sigma, Business Continuity Plans, Essential service, COVID-19 pandemic, Technology