Housing cooperatives were introduced in Kenya in the early 1980s and currently there are 650 registered housing cooperatives which are affiliated to the National Cooperative Housing Union (NACHU). Official statistics obtained from the Ministry of...
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Housing cooperatives were introduced in Kenya in the early 1980s and currently there are 650 registered housing cooperatives which are affiliated to the National Cooperative Housing Union (NACHU). Official statistics obtained from the Ministry of Co-operative Development as at 2010 show 424 housing co-operatives as having been registered, 79 out of these being dormant, 16 having been liquidated and 329 active. This clearly indicates that some housing cooperatives have not achieved the objectives for which they were formed. This begs the question on Corporate Governance Practices have any effect on the financial performance of housing cooperatives in Kenya. A sample size of 59 housing cooperatives was used from a target population of 650 housing cooperatives. Random sampling technique was used to obtain the sample size and was derived using the Fischer formula: . Pearson’s Correlation Coefficient for accountability and financial performance was r = 0.366**, with probability value (p =
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