Abstract:
This study was aimed at examining the impacts of the Sharing economy on the
individual and community Quality of Life (QOL) and wellbeing by looking at their
associated influencing factors using Village Savings and Loans Associations as a
model of sharing economy in Malawi. An online community-based cross-sectional study
design was conducted from November 2020 through January 2021. In the survey, 402
Village Savings and Loans Associations (VSLAs) members from the Mzuzu City area
participated, recruited using snowball and respondent-driven sampling techniques. The
sample size was computed using a single population proportion using the Yamane
formula. Descriptive statistics and ordinal logistic regression model techniques were
also employed. Additionally, we used the Chi-Square test, two-way ANOVA, and Ordinal
regression model to determine statistical associations between socioeconomic data and
QOL and wellbeing variables with a 5% level of significance. On the aspect of community
wellbeing, the findings of our study indicated that income (levels and disposal) provided
members with options to live a better QOL and wellbeing within the community by
either facilitating payment for better education, eating healthier foods, acquiring assets,
etc. Further, the absence of discrimination provided a platform for voice, inclusion, and
social trust, enhancing freedom of expression. We also found that education facilitated
better earnings and knowledge of public health-related issues. As for the contribution to
the sharing economy, our study has emphasized the role played by trust in enhancing
sharing economy. We recommend and encourage people to join these VSLAs so as
to improve their QOL and wellbeing. However, there is a need to replicate the study
on a larger scale to validate our study findings for effective policy formulation and Quality of Life Among VSLAs Members
implementation geared to improving the overall quality of people’s lives. Based on
these findings, we further recommend that authorities reinstate programs like National
Strategy for Financial Inclusion 2016–2020 and Savings and Loan Groups Best Practice
Guidelines (SLG BPGs) 2016–2017 that could further enhance the future of VSLAs,
which are vital for QOL and community wellbeing of the people in developing countries
like Malawi.
