The International Journal of Business & Management

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Credit as an investment capital is an important determinant of economic growth at the individual and national levels. Credit at the individual level influences income generation and employment creation, which can uplift the wealth status of the individual.  Existing literature suggest that the effect of credit on the wealth status has not been well understood and measured. This study was conducted to assess the effect of credit from SACCOS on the individuals’ wealth status by comparing the wealth status of SACCOS’ members and non-members. Longitudinal Data were collected from a sample of 480 respondents in Mbeya district. Multistage and simple random sampling techniques were used to select the study area and respondents. Data analysis employed both descriptive statistics and regression methods where Pooled OLS and the DID in OLS methods were used. The findings reveal a significant positive impact of credit on the wealth status of the individual beneficiaries. Thus, concur with the life cycle theory of saving and consumption. The study recommends early involvement in lifelong savings at young age.


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