Kenyatta University Repository
Kenyatta University Institutional Repository is a digital archive that collects, preserves and disseminates scholarly outputs of the Institution
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Inflation Targeting and its Effect on Food Price Volatility in Kenya
(African Journal of Emerging Issues, 2024-06) Meni, Fredrick; Kimunio, Isaac
Purpose of Study: The study investigates the effectiveness of inflation targeting in stabilizing food prices by examining its impact on food price volatility and the broader economic factors influencing this instability, including global commodity prices, exchange rate fluctuations, climate variability, and regional conflicts. Inflation targeting, introduced by the Central Bank of Kenya in 2011, aims to control inflation and stabilize prices. Problem Statement: Despite achieving its overall inflation objectives, Kenya continues to face volatile food prices, posing significant socioeconomic challenges, especially for low-income households that are heavily burdened by high food costs. Methodology: The study aopted non-experimental research design with secondary quarterly time series data from 2011 to 2022 sourced from the Central Bank of Kenya, Kenya National Bureau of Statistics, and the Food and Agriculture Organization, this research analyzes factors including the Consumer Price Index, exchange rates, and food prices using a Vector Error Correction Model (VECM). Result: The findings indicate that, while inflation targeting has succeeded in controlling overall inflation, it has struggled to reduce food price volatility. This suggests the need for more comprehensive policies that go beyond traditional monetary strategies to stabilize food prices effectively. Conclusion: The results highlight the necessity for a multifaceted approach involving monetary, fiscal, and trade policies to manage food price dynamics, improve food security, support farmers' incomes, and enhance overall economic stability in Kenya.
Fundamental Risk Factors and Financial Performance of Insurance Firms in Kenya
(Research Publish Journals, 2024) Sifuna, Douglas; Omagwa, Job; Mutswenje, Vnincet
The financial performance of Insurance firms plays a vital role in increasing the sector's market value and leads to the economy's overall growth. There exists substantial empirical literature on fundamental risk factors and the financial performance of commercial banks and microfinance institutions. However, few studies have delved much into the relationship between fundamental risk factors and the financial performance of Insurance firms. The downward financial performance trend of the Insurance firms in Kenya is a cause for concerns among various stakeholders. The financial performance has shown a downward trend from 2011 to 2018 before a little bullish movement in 2019. The study investigates the effect of fundamental risk factors on the financial performance of Insurance firms in Kenya. Operating ratio measured financial performance for the Insurance firms as applied by the Insurance regulatory authority. The study's specific objectives are to determine the effect of inflation, exchange rates, and interest rates on the financial performance of Kenya's insurance firms. The study further establishes the moderating effect of capital adequacy on the relationship between fundamental risk factors and the financial performance of the Insurance firms in Kenya. This study adopts Positivism philosophy and an Explanatory research design. The study the Modern portfolio theory, expectations, and the Liquidity preference theory. The study uses quarterly data obtained from the insurance firms in Kenya and uses STATA software to analyze. Data analysis through Descriptive statistics, Pearson's simple correlation, Time-series regression analysis over a time scope of 10 years, Interest rates have a positive but not statistically significant effect on operating ratio as indicated by the p value (P = 0.081 < 0.05). Furthermore, Inflation rates has positive but statistically insignificant effect on Fundamental risk factors with p value (P = 0.863 < 0.05), exchange rate has a positive statistically significant effect on operating ratio (P = 0.000 < 0.05). rom 2014-2021. The hypothesis was tested at the 0.05 level of significance; findings reveal that Interest rates have a positive but statistically insignificant effect on operating ratio at p value of 0.081. Furthermore, Inflation rates has positive but statistically insignificant effect on Financial performance with p value (P=0.863), exchange rate has a positive statistically significant effect on operating ratio (P = 0.000). Therefore, the research suggests the insurance firms should be keen to quantify and control the effect of foreign exchange gain or loss on their financial performance The firms should also take into account the impact of interest and exchange rates to mitigate the impact of their volatility on financial performance.
Toning up Images by Smoothening Edges
(IOSR-JM, 2024) Gatoto, James; Fwamba, Rukia Nasimiyu
Background: Under Partial Differential Equations, an image is a function
2
f x y X ( , ),
. These equations
are used in smoothening of images. The necessity to have an excellent image quality is increasingly required in
the current world. Most of the obtained images are not as smooth as we would want hence they are blurred. Use
of the nonlinear diffusion equation is essential in the current day smoothening of images. This model inputs
smoothness in the denoising process. This research improved the quality of images through the use of nonlinear PDEs of parabolic nature i.e. the heat equation.
Materials and Methods: Numerical schemes of ADI (Alternating Direction Implicit method) and 2-EGSOR(2-
Point Explicit Group Successive Over Relaxation) were used to solve the equations in MATLAB subject to an
initial condition of a noisy image, generating various smoothened images.
Results: Comparatively output from ADI is very close to the original image in terms of alignment, smoothness
i.e. refined texture, well outlined contours and overall detail without stair casing. .This method is characterized
with a smaller residue and much time lapse. An error analysis too was carried out using Root Mean Square
Method. ADI & the blocked (ADI and EGSOR) register a comparatively lower RMSE.
Conclusion: The most suitable algorithm for image smoothening is Alternating Direction Implicit Method
Optimization of the Non-Linear Diffussion Equations
(Science Publishing Group, 2024-10) Fwamba, Rukia Nasimiyu; Chepkwony, isaac; Wekulo, Saidi Fwamba
Partial Differential Equations are used in smoothening of images. Under partial differential equations an image is termed as a
function; f(x, y), XÎR
2
. The pixel flux is referred to as an edge stopping function since it ensures that diffusion occurs within the
image region but zero at the boundaries; ux(0, y, t) = ux(p, y, t) = uy(x, 0, t) = uy(x, q, t). Nonlinear PDEs tend to adjust the quality
of the image, thus giving images desirable outlooks. In the digital world there is need for images to be smoothened for broadcast
purposes, medical display of internal organs i.e MRI (Magnetic Resonance Imaging), study of the galaxy, CCTV (Closed Circuit
Television) among others. This model inputs optimization in the smoothening of images. The solutions of the diffusion equations
were obtained using iterative algorithms i.e. Alternating Direction Implicit (ADI) method, Two-point Explicit Group Successive
Over-Relaxation (2-EGSOR) and a successive implementation of these two approaches. These schemes were executed in
MATLAB (Matrix Laboratory) subject to an initial condition of a noisy images characterized by pepper noise, Gaussian noise,
Brownian noise, Poisson noise etc. As the algorithms were implemented in MATLAB, the smoothing effect reduced at places
with possibilities of being boundaries, the parameters Cv (pixel flux), Cf (coefficient of the forcing term), b (the threshold
parameter) alongside time t were estimated through optimization. Parameter b maintained the highest value, while Cv exhibited
the lowest value implying that diffusion of pixels within the various images i.e. CCTV, MRI & Galaxy was limited to enhance
smoothening. On the other hand the threshold parameter (b) took an escalated value across the images translating to a high level
of the force responsible for smoothening.
Top Management Team Characteristics and Performance of Humanitarian Non-Governmental Organizations (NGOs) in Nairobi – Kenya
(IJARKE, 2024-10) Kahindo, Susan Mwihaki; Waithaka, Paul
Research indicates that the attributes of the top managers have an effect on organizations’ outcome. The study investigated the
association between humanitarian NGOs’ performance and the top management team's characteristics. The study aimed to
assess how the demographics, cognitive abilities, psychological traits, and behavioral characteristics of top management in
humanitarian Non-Government Organizations in Nairobi affect their performance. The study is significant to senior
management of humanitarian Non-Government Organizations in Nairobi, as well as scholars in the field of strategic
management. This study was founded upon the Upper Echelons theory, the Resource-Based View theory, and the Balance
Score Card model. In order to fulfill the study's objectives, a descriptive and explanatory research design was employed. The
study aims to survey 486 high-level executives from the 68 humanitarian Non-Government Organizations located in Nairobi.
The sample size was determined using purposive sampling. The study employed a semi-structured questionnaire to gather
primary data. Cronbach's alpha coefficient of 0.7 was used to assess reliability, and assessments of face, content, and construct
validity were carried out. The study analyzed the qualitative data using content thematic analysis and the quantitative data
using both descriptive and inferential statistical techniques. The findings indicate that demographic characteristics, cognitive
characteristics, psychological characteristics and behavioral characteristics of the Top Management Team reported a
substantial impact on performance. Therefore, the study's findings indicated that adopted dimensions of the Top Management
Team characteristics should be embraced by the humanitarian sector for improved performance. In addition, the study
concludes that there is need to develop policies that ensure that the top managers are constituted in a manager that leverages
from the diverse characteristics of the top management team. The study recommendations that further studies can be done
while incorporating other dimensions of the Top Management Team characteristics not covered in the study.