An evaluation of the role of community thrift societies in economic resilience in Aguata Local Government Area, Anambra State
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style:
- Recommended for :
- NGN 5000
Background of the Study
Community thrift societies have long been instrumental in fostering economic resilience among residents in Aguata. These groups facilitate savings, credit access, and mutual support, thereby enabling members to invest in income-generating activities and cushion economic shocks (Ndu, 2023). Thrift societies operate on the principles of trust and solidarity, allowing individuals to pool resources for both personal and communal development (Ife, 2024). In the context of limited formal financial services, these societies offer a practical alternative for achieving financial stability and promoting economic growth (Chukwu, 2025). However, challenges such as mismanagement, limited scale, and lack of regulatory oversight can undermine their effectiveness. This study examines the contributions of community thrift societies to economic resilience in Aguata, assessing how these groups enhance financial security, support entrepreneurial ventures, and foster community development while identifying the constraints that limit their impact.
Statement of the Problem
Despite their potential, community thrift societies in Aguata face challenges that hinder their ability to fully contribute to economic resilience. Issues such as poor management practices, inadequate record-keeping, and limited financial capacity restrict their effectiveness (Ndu, 2023). These challenges reduce the societies’ capacity to provide substantial financial support during economic downturns, thereby affecting members’ ability to invest in income-generating activities (Ife, 2024). The lack of formal support and oversight further exacerbates these challenges, necessitating a comprehensive investigation into the operational issues and potential improvements to enhance the impact of thrift societies (Chukwu, 2025).
Objectives of the Study:
To evaluate the economic contributions of community thrift societies in Aguata.
To identify challenges affecting the operational efficiency of these societies.
To recommend strategies for improving their effectiveness and financial resilience.
Research Questions:
How do community thrift societies contribute to economic resilience in Aguata?
What challenges hinder their effective operation?
What measures can enhance their financial support capabilities?
Research Hypotheses:
H₁: Community thrift societies significantly improve economic resilience among members.
H₂: Operational challenges negatively impact the effectiveness of thrift societies.
H₃: Strategic interventions can enhance the financial capacity of these societies.
Significance of the Study
This study is significant as it evaluates the role of community thrift societies in promoting economic resilience in Aguata. The findings will provide valuable insights for policymakers, community leaders, and development agencies to strengthen these groups, thereby improving financial security and fostering sustainable community development (Ndu, 2023).
Scope and Limitations of the Study:
This study is limited to the role of community thrift societies in economic resilience in Aguata Local Government Area, focusing on local operational challenges and impacts without extending to other financial institutions.
Definitions of Terms:
Community Thrift Societies: Informal groups that pool savings for mutual financial support.
Economic Resilience: The capacity of an economy to withstand and recover from shocks.
Financial Capacity: The ability to mobilize funds for economic activities.
Related Project Materials
An empirical study of the effectiveness of total quality management strategies: A case study of auto manufacturers in Niger State.
Background of the Study: Total Quality Management (TQM) is a management approach that aims to improve the quality of products and services through...
An Evaluation of the Combined Role of Fiscal and Monetary Policies in Nigeria’s Economic Growth
Background of the Study
Fiscal and monetary policies are the twin pillars of macroeconomic management. In...
INVESTIGATING THE ROLE OF EARLY CHILDHOOD EDUCATION IN PROMOTING GENDER EQUALITY
ABSTRACT: This study Investigated the Role of Early Childhood Education in Promoting Gender Equality. The ob...
AN ANALYSIS OF THE COVERAGE OF BLASPHEMOUS INCIDENTS IN DAILY TRUST AND THE PUNCH NEWSPAPERS
ABSTRACT
Conflicts precipitated by religious discords or under such pretext, have resulted in the deaths of thousands of people and destr...
An evaluation of blood pressure screening programs in Bauchi State
Background of the Study
Early detection of hypertension through regular blood pressure screening is a critical component in preventing ca...
A Study on the Effect of Digital Narratives on Nigerian Semantic Expression: A Case Study of YouTube Content
Background of the Study
Digital narratives have revolutionized language use by merging visual, auditory, and textual eleme...
An Assessment of Electoral Violence and Its Impact on Small-Scale Businesses: A Study of Gusau Local Government, Zamfara State
Background of the Study
Electoral violence has far-reaching consequences that extend beyond political processes to econo...
An Examination of Nurses' Workload and Burnout in Psychiatric Hospitals in Sokoto State
Background of the Study
Nurses in psychiatric hospitals are essential in providing care for patients...
The Challenges of Financial Planning and Wealth Management Among SMEs in Kano State
Background of the Study
Small and medium-sized enterprises (SMEs) are the backbone of the Nigerian economy, contributing...
An appraisal of archaeological tourism and its economic benefits in Badagry Local Government Area, Lagos State
Background of the Study
Archaeological tourism has emerged as a dynamic sector that bridges cultural heritage and economic...
