Browsing by Author "Oluoch, Joseph Ochieng"

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    Influence of Business Training and Financial Literacy on Loan Repayment in Devolved Fund Programmes among Women Entrepreneurs in Homabay County, Kenya
    (East African Nature & Science Organization, 2025-05) Oluoch, Joseph Ochieng; Okello, Perez A Onono
    Women entrepreneurs immensely contribute to economic development in developing nations. In Kenya, women constitute over 70 percent of new business startups. However, women entrepreneurs face several challenges, including discrimination in access to finance . To overcome these challenges, the national government of Kenya came up with initiatives, including the Women's Enterprise Fund and Uwezo Fund, among others. Women access these funds through groups or as individuals. Despite these interventions, women ent repreneurs in Kenya, particularly in Homabay County, still register a high level of loan defaults in these devolved funds. This study examined the influence of business training and financial literacy on loan repayment in devolved fund programmes among wom en entrepreneurs in Homabay County in Kenya using a structured questionnaire with a sample of 397 women entrepreneurs. Based on Cronbach's Alpha values above 0.7 for all the study variables, the data were considered reliable. From the descriptive analysis , the majority of the women entrepreneurs participating in devolved funds in Homabay County were financially literate, had a moderate level of business training, and were aware of loan repayment benefits. There was a high positive correlation between busin ess training and loan repayment, as well as between financial literacy and loan repayment. Regression results also reported a significant positive influence of business training and financial literacy on loan repayment. To improve loan repayment, the fund managers should collaborate with training institutions to develop and implement tailor - made training programmes for women entrepreneurs to enhance their business and financial skills .
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    Influence of Business Training and Financial Literacy on Loan Repayment in Devolved Fund Programmes by Women Entrepreneurs in Homabay County, Kenya
    (Kenyatta University, 2025-06) Oluoch, Joseph Ochieng
    Over the years, women entrepreneurs have immensely contributed to a nation’s economic development and growth. However, they face a number of challenges including discrimination, finance inaccessibility, loan default, inadequate training in entrepreneurship, and inexperience. Women-oriented microfinance institutions have emerged to leverage women entrepreneurs from the discrimination and funds inaccessibility challenges. However, women entrepreneurs in Kenya still register high levels of loan default. This study assessed how business training and financial literacy influenced loan repayment among Homabay women entrepreneurs engaging in devolved funds programmes. Financial Literacy Framework and the Human Capital Theory guided the study. Data was collected from 397 licensed women entrepreneurs using a structured questionnaire through person-to-person interview. The study adopted descriptive and inferential statistics to analyze the data. A multiple linear regression approach was used to establish the influence of financial literacy and business training on loan repayment. The study sent out 397 questionnaires, but only 359 were completely responded to, giving a 90.43 per cent response rate. The study observed that majority of women entrepreneurs participating in the devolved funds programmes in Homabay County were financial literates, had attained a business training, and were aware of loan repayment. The study found a positive correlation between business training and loan repayment, with a correlation coefficient of 0.839. Additionally, it identified a strong positive relationship between financial literacy and loan repayment, with a coefficient of 0.805. The regression analysis revealed that a unit increase in financial literacy would enhance loan repayment by 0.389 among women entrepreneurs. Similarly, a unit increase in business training would boost loan repayment by 0.571. These coefficients were statistically significant at the 5 per cent level. The study concluded that financial literacy and business training are significant contributors of loan repayment in devolved funds programmes by women entrepreneurs in Homabay County. The study recommends that business training sessions and financial literacy campaigns should be offered to women entrepreneurs to enhance their loans repayment rate.