Kenyatta University Repository
Kenyatta University Institutional Repository is a digital archive that collects, preserves and disseminates scholarly outputs of the Institution
IMPORTANT LINKS
Communities in DSpace
Select a community to browse its collections.
Recent Submissions
Foreign Exchange Volatility and Financial Performance of Bond Market in Kenya
(Kenyatta University, 2025-10) Maratani, Padwick Brinktonish
Bond markets play a crucial role in the economy by influencing interest rates, facilitating government and corporate borrowing, and signaling economic health. Its movements directly impact borrowing costs for consumers and businesses, and it serves as a key indicator for investors and policymakers alike. However, foreign exchange rate volatility has characterized the Kenyan market environment leading to effects on the markets. This study explored the interrelation between financial performance and foreign exchange volatility of bond markets in Kenya. The precise goal was to investigate the effect of inflation, money supply and interest rate on bond markets performance from a financial perspective. The period of study was from 2010 to 2023. The research was underpinned on the interest rate parity theory, quantity theory of money, monetary theory of inflation, and modern portfolio theory. The research utilized a causal research design and targeted 26 institutions from various sectors including banks, investment Firms, pension funds and insurance. A census was employed in analyzing these institutions. Data collection was done using a secondary data collection tool and the analysis was done using a panel regression model with the aid of Stata version 14. Descriptive statistics, correlation analysis and inferential statistics were conducted. The diagnostic tests which include normality test, heteroscedasticity test and multicollinearity tests were equally carried out. A Hausman test was done to determine whether a fixed effect or a random effect model will be applied in the study. Finally, the study adhered to the ethical considerations throughout the period of study. The findings also indicate that the R2 (coefficient of determination) is 0.694 implying that 69.4 percent of the changes in bond market turnover is explained by inflationary changes, interest rates and money supply. The findings from panel regression analysis indicate an inverse and significant relationship between inflation and bond market turnover holding other variables constant. The outcome from panel regression analysis indicates that interest rates and bond market turnover have a significant and positive relationship. The regression analysis shows that money supply has a positive effect on bond market turnover, holding other factors constant. The study concludes that foreign exchange volatility components (inflation, interest rates and money supply) have a significant effect on bond market turnover. Specifically, inflation has a major and negative correlation with bond market turnover, hence an increase in inflation negatively and significantly influences bond turnover. The study also concludes that interest rates have an important and positive impact on bond market turnover implying that rise in interest rates results in an increase in bond market turnover holding other variables constant. Finally, the study concludes that supply of money has a positive but insignificant effect on bond market turnover. The study recommends that investors should closely monitor inflation rates. Understanding these factors can assist investors make well-versed decisions about when to enter or exit bond positions based on anticipated changes in currency values. Investors should use financial instruments like forward contracts, options, or futures, to guard against unfavorable movements. This strategy helps ensure that inflationary effects do not erode the returns from the bond investment. Regarding the significance of interest rates in bond markets, the study recommends that in volatile markets, focusing on short-term bonds may be advantageous as they typically have less sensitivity to interest rate changes compared to long-term bonds. Additionally, extending duration strategically during periods of expected rate cuts will enhance returns while managing risks associated with foreign exchange fluctuations.
Smart Water Strategies and Organizational Performance: A Case of Nairobi Water and Sewerage Company in Nairobi City County, Kenya
(Kenyatta University, 2025-08) Waweru, Oscar Andrew
The NCWSC was highly committed to ensuring effective water management. The company had achieved 80% of its strategic plan. However, it faced significant challenges between the years 2014/15 and 2018/19. In 2014/15, NCWSC produced 201.8 million cubic meters of water, while the amount sold was 124.7 million cubic meters. By 2018/19, both production and sales had declined to 180.1 million cubic meters and 114.5 million cubic meters, respectively. These declines were primarily attributed to climate change and erratic rainfall, partly due to the droughts experienced in 2016 and 2017. Additionally, Non-Revenue Water (NRW) losses due to physical leaks or inefficiencies stood at 36.4% in 2018/19, exceeding the sector's recommended maximum of 25%. This study aimed to assess how smart water strategies impacted the Nairobi Water & Sewerage Company’s performance in Nairobi City County, Kenya. In this context, the study specifically aimed to; examine the influence of storage capacity location on the performance of Nairobi Water & Sewerage Company in Nairobi County Kenya; establish the influence of customer service effective water billing tokens on the performance of Nairobi Water & Sewerage Company in Nairobi County Kenya; explore the influence of innovation leakages on the performance of Nairobi Water & Sewerage Company in Nairobi County Kenya. The study was anchored on three key theories; resource-based view theory, structural contingency theory, and balanced scorecard concept. A descriptive research design was adopted. The target population was 94 participants within NCWSC's Nairobi operations and all the 94 respondents were selected as the sample using a census sampling technique. Data was collected using questionnaires. A pilot test was first conducted with nine respondents from NCWSC who were not part of the actual study to minimize bias. In order to calculate the coefficient that describes the correlation of an instrument, Cronbach's alpha test was applied. A tool's correlation coefficient must exceed 0.7 if it is to be considered reliable and as such, the study aimed to obtain a correlation coefficient of 0.8. The variables were analyzed using descriptive statistics - mean and standard deviation - and multiple linear regressions. The results were presented in tabular and graphical formats. The study achieved a response rate based on 94 questionnaires administered to managers and staff at Nairobi Water and Sewerage Company. The adjusted R-squared value indicated that organizational performance variation was influenced by innovation in water leak detection, customer service in water billing tokens, and storage capacity location. Regression analysis showed significant positive contributions from these factors, confirming their strong influence on organizational performance. The study examined the impact of smart water strategies on Nairobi Water & Sewerage Company’s (NWSC) performance. Findings revealed that digital metering, automated distribution, and data-driven decisions enhance efficiency, revenue collection, and service delivery. Strategic storage facility placement minimizes supply disruptions, while smart billing improves transparency and payments. Innovations in leak detection reduce water losses and costs. The study recommends adopting advanced technologies, optimizing storage locations, enhancing billing systems, and investing in modern leak detection. Future research should explore AI, IoT, and policy impacts
Financial Resource Mobilization and Counties’ Sustainable Development in Kenya: A Case Study of Tharaka Nithi County Government
(Kenyatta University, 2025-09) Kabete, Mathew Muturi
County governments in Kenya are constitutionally assigned fourteen responsibilities, which demand substantial financial resources beyond the allocations received from the national government. However, local governments have historically faced financial constraints and inefficiencies, creating a persistent gap between their potential revenue generation and actual fiscal performance. Tharaka Nithi County, like many others, has underperformed in mobilizing local revenue despite its capacity to enhance fiscal independence. This study sought to investigate the effect of financial resource mobilization on sustainable development in Tharaka Nithi County, Kenya. The specific objectives were to determine the effect of revenue diversification on sustainable development in Tharaka Nithi County Government, to evaluate the effect of budget utilization efficiency on sustainable development in Tharaka Nithi County Government and to analyse the effect of community participation on the relationship between financial resource mobilization and sustainable development in Tharaka Nithi County Government.. The study was guided by the Public Goods Theory and the Sustainable Development Theory and employed a mixed-methods design, combining quantitative and qualitative approaches. Data were collected through questionnaires and interviews involving county officials, national government personnel, and local citizens, using both stratified random and purposive sampling techniques. Reliability and validity of the research instruments were ensured through pilot testing, expert review, and statistical checks, while ethical research standards were strictly observed. Data were analyzed using Microsoft Excel and SPSS and presented thematically and descriptively. Findings revealed that taxes and levies, grants and transfers, public-private partnerships, and county enterprises income all played a significant role in promoting sustainable development within the county. These revenue streams contributed to infrastructure development, improved service delivery, and promoted inclusive growth. However, the study also established that several challenges hindered effective financial mobilization, including an inflated public payroll, ethnically-driven politics, illicit financial outflows, overreliance on external borrowing, and widespread corruption. The study concluded that strengthening Own Source Revenue is vital for reinforcing county-level sustainable development, as it enhances fiscal resilience, funds essential services, and reduces dependency on national allocations. It recommended that Tharaka Nithi County should expand its revenue base by formalizing the informal sector, streamlining tax procedures, and fortifying institutional and legal frameworks. Moreover, leveraging public-private partnerships can facilitate infrastructure projects, promote economic growth, and enhance service delivery, thereby ensuring long-term sustainable development.
Strategic Planning and Performance of International Non-Governmental Organisations: A Case of TechnoServe Kenya
(Kenyatta University, 2025-07) Okodoi, Norbert Aluku
The non-governmental organizations (NGO) operating in Kenya continue to face many performance challenges. Technoserve is a registered NGO in Kenya and works in the sectors of entrepreneurship and horticulture, supporting youth and women-led programs. In 2022 Technoserve reported a decline in their financial targets and funding. In the same year, the government listed Technoserve as one of the NGOs that failed to meet regulatory obligations. In a staff survey, the staff reported low self-esteem and high staff churn at the institution. These performance gaps imply that perhaps there was a performance issue at Technoserve. This study sought to examine how strategic planning is conducted at Technoserve for performance. Specifically, it sought to assess the influence of the strategic intent on performance, the impact of environmental analysis on performance and the effect of the implementation matrix on performance. The study was based on the resource dependency theory, the contingency management theory and Vroom’s expectancy theory. The study used the descriptive research design, specifically the cross-sectional design. The target population were the 245 employees at Technoserve. The sample size was determined using the confidence interval method, to select 152 respondents. A structured questionnaire was then developed, that was related to the research objectives. A pilot test was conducted on 10 respondents from a similar NGO, and content validity was employed to fine-tune the tool. For reliability, Cronbach’s alpha coefficient was used. The results of the Cronbach’s alpha coefficient was 0.789 implying that it exceeded the threshold of 0.7 hence the questionnaire was reliable. Data was collected via the face-to-face method and analysed using SPSS version 24.0 The data was analysed using descriptive analysis and inferential statistics employed. From the results of the inferential statistics, it was found that there was a positive and significant effect of strategic intent (beta=0.097); environmental analysis (beta=0.127); and implementation matrix (beta=0.719) on performance. The study found out that 59.8% change in performance improvement was influenced by strategic planning. The study concluded that for performance at Technoserve, Technoserve needs to assign resources when formulating their strategic intent. Technoserve’s goals and targets therefore need to be aligned with their vision and mission, and qualified and motivated staff need to implement strategic planning. The study concluded that for performance at Technoserve, Technoserve needs to conduct their environmental analysis jointly among all staff, and assign resources to determine their strengths, weaknesses, opportunities and threats. The study concluded that Technoserve needs to use the two tools jointly for their environmental analysis, namely, the SWOT analysis and the PESTEL analysis tool. The study also concluded that for performance, an implementation matrix formulated with SMART indicators will improve performance at Technoserve. The study also recommended that other scholars need to examine the other dimensions of strategic planning that influence performance in the NGO sector.
Work Environment and Service Delivery by National Police Officers in Nairobi City County, Kenya
(Kenyatta University, 2025-09) Wilson Ileny Nasike
Police officers' provision of services in Nairobi City County, Kenya, has been declining in key areas such as assurance, tangibility, reliability, empathy, and responsiveness. Examining how the workplace affects the county's police service delivery was the goal of this study. In particular, the research evaluated how police service delivery is affected by the physical, psychological, social, and flexible work environments. The research was guided by the Person–Environment Fit Theory, Conservation of Resources Theory, Human Relations Theory, Social Exchange Theory, and the SERVQUAL Model. A descriptive research design was employed, targeting a population of 6,416 police officers across various ranks in the twelve police sub-counties of Nairobi City County. The population was divided into twelve groups using stratified sampling, and a representative sample of 377 officers were then be chosen using simple random selection. A semi-structured survey was used to gather data, incorporating both quantitative and qualitative responses. Because the population is heterogeneous, Pilot study was carried out in Kiambu County, Kenya, to determine validity of the collection instrument. Face validity was ensured by examining all items representing the study variables. Evaluating content validity entails checking a survey tool to ensure it contained all the needed items or questions for the study. Ensuring construct validity in this study was achieved by using relevant theories, operationalizing of study variables, and a five-point Likert scale. Reliability was evaluated using the Cronbach Alpha Coefficient, where a threshold of 0.7 is deemed acceptable. Both descriptive and inferential statistics were used to analyse quantitative data. The descriptive statistics encompassed the mean and standard deviation, whereas the inferential analysis consisted of Pearson correlation and multiple linear regression. Qualitative data was analysed through content analysis and conveyed in a narrative format. Results from the quantitative analysis were presented through tables and pie charts. The researcher guaranteed that involvement stems from informed consent, with every participant engaging voluntarily. The study found that the physical work environment significantly influenced service delivery, with better infrastructure improving efficiency. Workplace flexibility positively impacted performance by reducing burnout and enhancing officers’ work-life balance. The psychological work environment played a crucial role in officers' effectiveness, while a positive social work environment fostered teamwork and job satisfaction. Recommendations include improving police infrastructure, implementing flexible scheduling, strengthening psychological support systems, and fostering a positive social work culture. Enhancing these factors will improve officer morale, productivity, and overall service quality, ultimately leading to better law enforcement outcomes in Nairobi City County, Kenya