MST-Department of Animal Science (AS)

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Browsing MST-Department of Animal Science (AS) by Author "Charles, Kennedy Mumo"

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    Financial Literacy and Financial Inclusion of Youths in Nairobi City County, Kenya
    (Kenyatta University, 2025-04) Charles, Kennedy Mumo
    In an effort to promote greater financial inclusion, Kenya has implemented a number of financial sector changes in recent years, propelled by technological innovations like ATMs and mobile banking. This expansion is seen as key to achieving Kenya’s target growth rate of ten percent as outlined in Vision twenty thirty, by expanding access to financial solutions, encouraging investments, savings, and supporting the country’s development objectives. However, despite these advancements, access to formal financial services remains limited. This study aimed to investigate the relationship between financial literacy and financial inclusion among the youth in Nairobi City County, focusing on the roles of investment methods, debt management, financial planning, and saving behaviours. The study was grounded in theories of information asymmetry, behavioural economics, financial education, and financial growth. A causal research design was used, targeting a population of One million nine hundred ninety, three thousand three hundred and ninety youths in Nairobi, with a sample size of four hundred respondents. Data were collected using structured questionnaires, validated through a pilot study with forty participants. Reliability was ensured with a Cronbach's alpha score, and the data were analysed using descriptive and inferential statistics, including regression analysis. The study’s findings showed that the four independent variables; saving behaviours, debt management, financial planning, and investment practices accounted for a higher variation in financial inclusion. Savings had a significant positive effect on financial inclusion, with youths who regularly save better able to access formal financial services. Debt management practices also positively influenced financial inclusion, although to a moderate degree, suggesting that improved debt management skills could reduce financial exclusion. Financial planning techniques were strongly associated with financial inclusion, indicating that youth who engage in organized financial planning are more likely to access accredited financial assistance and make sound financial decisions. Investment practices had a very strong positive influence on financial inclusion, emphasizing the importance of promoting investment literacy among youth. The study concluded that fostering saving habits, debt management skills, financial planning, and investment literacy is crucial to enhancing financial inclusion. It recommended implementation of youth targeted financial literacy education initiatives in educational institutions, financial organizations, and government agencies to equip them with essential financial skills needed for greater financial empowerment.