Department of Business and Economics

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Author: search.filters.author.Kiai, Richard M.End date: 2019

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    Effect of Collateral Requirement on Financial Performance of Agribusiness Small and Micro Enterprises in Nyeri Central Sub County Kenya
    (International Journal of Economics, Business and Management Research, 2019) Kiai, Richard M.; Kiragu, David; Githinji, Caroline Wanja
    Access to finance is critical to growth as well as development of small and micro enterprises (SMEs) .Most of the SMEs rely on commercial banks for financing of their enterprises. At times collateral requirement could deter some entrepreneurs from acquiring finances which could interrupt business growth as well as development. This study sought to investigate the effect of collateral requirement on financial performance of agribusiness small and micro enterprises in Nyeri Central Sub County. The study was guided by theory of financial intermediation theory. The target population of this study was 950 licensed Agribusiness SMEs. A sample size of 274 licensed SMEs operating in the Nyeri Central Sub County was estimated by the use of the Krejcie and Morgan's criterion. A Cronbach alpha coefficient of 0.7 was used to evaluate the reliability of the semi-structured questionnaire. A response rate of 86.5% was achieved. Inferential statistics was carried out to ascertain the relationship between collateral requirement and the financial performance of agribusiness SMEs in Nyeri Central Sub County. Regression assumptions of independence, linearity and normality were done. Results were interpreted using 5% level of significance. Bivariate regression analysis results indicated that collateral requirement had a negative and statistically insignificant effect on financial performance of Agribusiness SMEs. The study concluded that the collateral requirement by commercial banks affects the SMEs financial performance. The study recommends that Agribusiness SMEs should invest in capital assets which will assist them as collateral in time of accessing credit from commercial banks in order to enhance an sustain their financial performance. Keywords: Collateral Requirements, Financial Performance, Agribusiness Small
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    The Nexus between Social Capital and Household Investment among Financially Included Youth in Kenya
    (ProQuest, 2017) Kiai, Richard M.
    Financial inclusion is a poverty reduction tool and many economies have taken it up as a national agenda. To meet the expected levels of financial inclusion, governments have worked with financial intermediaries to reach the expected target group; the unbanked poor. As per financial intermediation theory, the role of financial intermediaries is to reduce information asymmetry in the financial system. To enhance financial inclusion, many countries and financial institutions have embraced Information Communication Technology (ICT). ICT is recognized as a tool that has worked greatly towards enhancing sharing of information at a low-cost and thus helped in improving financial inclusion. Though many countries have achieved high levels of financial inclusion through ICT, the levels of poverty have not changed. The purpose of this study was to find out the relationship between ICT, financial intermediation, and household investment. Study methodology was a review of the literature on financial inclusion, financial intermediation, ICT and household investment. The study noted that ICT is helping in financial intermediation and thus more people can access financial services. Unfortunately, the levels of ICT capability among the poor is low, and in that case, the poor are not able to use financial services offered through ICT platforms to undertake household investment. This is the reason as to why, despite the high levels of financial inclusion, the poor remains poor. This study recommends that the government make sure that the levels of ICT among the populace is high. Financial institutions should provide financial services with more user-friendly ICT platforms.
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    Effect Of Financial Capability On Investment Among Financially Included Youth: Case Of Nyeri And Kirinyaga Counties, Kenya
    (International Journal of Advanced Research, 2016-08) Kiai, Richard M.; Ng'ang'a, S.I; Kiragu, David, N.; Kinyanjui, Josphat, K.
    Financial inclusion has been found to play a critical role in poverty and unemployment reduction through household investments. This has seen countries put concerted efforts towards enhancing financial inclusion with the main objective of reducing poverty and unemployment. Kenya has also put efforts and has seen notable levels of increase of financial inclusion. Majority of the citizens can now access wide range of financial services. Contrary to high levels of financial inclusion in Kenya, unemployment and poverty levels are still high in Kenya and more pronounced among the youth. The purpose of this study was to establish whether financial capability has any effects on investment among financial included youth in Kenya. Specifically, the study was to establish whether financial products awareness, financial concepts understanding, financial management skills and financial discipline affects investment among financially included youths in Kenya. The study population was Kenyan youth aged between 18 to 35 years from Kirinyaga and Nyeri Counties. A logistic regression analysis was conducted to predict undertaking investments using financial products awareness, financial concepts understanding, financial management skills and financial discipline as predictors. The Wald criterion demonstrated that financial concepts understanding, financial management skills and financial discipline made a significant contribution to prediction. Financial products awareness was not a significant predictor. As a way of enhancing investment and ensuring financial inclusion achieves its objective, this study recommends enhancement of financial capability among the youth.
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