RP-Accounting and Finance Department

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A Critical Review of Literature on Organizational Politics and Work Outcomes
(Globeedu Group, 2012) Ndung’u, Penninah Wangui; Muathe, Stephen M. A.
There is not an organization on earth that does not have to deal with politics, only that the degree of organizational politics varies from one organization to another. It is true that organizations have some sort of internal political struggle that can rip it apart. Therefore dealing with this struggle awareness of the landscape, players and rules in which the political game is played must be taken keenly. This is because in one sphere of our life or another are we not both users and recipients of power? For instance a visit to any factory tea-break, office lunch gathering, or faculty meeting would seem to indicate that we are all familiar with office politics and bureaucratic gamesmanship. The concept of organizational politics is key social influence process that can be either functional or dysfunctional to employees and organizations. The relationship between perception of organizational politics, job satisfaction and employee turnover are of paramount importance towards overall organizational success. Social exchange theory, equity theory and theory of procedural justice theory are the different theories which have been postulated in the area of organizational politics. This paper aims at understanding employees' reaction to organizational politics and its relationship between perception of organizational politics, job satisfaction, employee turnover intentions and organizational conflicts.
Performance contracting strategy, public sector reforms and performance of public institutions in the transport sector “in Kenya”
(Center for Enhancing Knowledge, 2012) Gathungu, J. M.; Owanda, W. A.
This study seeks to examine the relationship between performance contracting strategy, public sector reforms and performance of public institutions in the transport sector in Kenya. This study uses the institutional theory. The main objective of the study was to examine the effects of performance contracting strategy, public sector reforms and the performance of institutions in the transport sector in Kenya. The population of interest in this study was all public institutions in the transport sector in Kenya. The study surveyed public sector institutions in the transport sector and collected data through personal interviews. The study used SEM analysis to show the correlation between performance contracting strategy and public sector reforms and how they impact on institutions performance. The study established that performance contracting is a vehicle to achieve reform in the new public management and its use as a strategy in the transport sector in Kenya, leading to efficiency gains, improved service delivery and competitiveness.
Savings Mobilization for Growth of Women-Owned Entrepreneurial Ventures in Kenya (An Empirical Review of the Constraining Factors)
(Centre for Promoting Ideas, 2012-08) Jagongo, A. O.
This study examined internal factors t hat affect savings mobilization for growth of women - owned MSEs. Many women - owned MSEs have received financial and other assistance from various donors to start their business, but their inability to reduce reliance on external sources to grow had remaine d unexplained. The study hypothesized that the main constraints to savings mobilization for growth of women owned MSEs arose from internal and the characteristics of the woman entrepreneurs. The target population were 3,030 women entrepreneurs who had rece ived assistance from the WEDCO project in Kisumu and Kakamega districts in Kenya. Multistage sampling procedure was used to select 300 individual women participants. Questionnaires, interviews and observations were used to collect primary data. Data was an alyzed through correlation analysis, chi - square tests, ANOVA, and means. The major findings of the study were that the number of dependants; education level; cultural and religious attachments; endowed management skills; age and marital status had a signif icant relationship with the savings propensity amongst the women entrepreneurs
Institutionalization of Knowledge Management in Manufacturing Enterprises in Kenya: A Case of Selected Enterprises
(2012-09-24) Cheruiyot C. K.; Jagongo, A. O.; Owino E. O.
In the fast changing business environment, knowledge has turn out to be the basis of every organization in creating and sustaining competitive differentiation. This study sought to examine factors that influence institutionalization of Knowledge Management (KM) in manufacturing enterprises in Kenya. A sample of 60 senior managers in the three selected manufacturing enterprises revealed that there are two critical factors that influence institutionalization of knowledge management. These factors are organizational practices and technological infrastructure. This paper concludes that the organizational practices have the highest influence and therefore when a comprehensive view is taken in instituting knowledge management practices, organizational practices be considered first and technological infrastructure second.
Venture capital (VC): The all important MSMEs finan cing Strategy under neglect in Kenya
(International Journal of Business and Social Science, 2012-11) Jagongo, A. O.
Micro, Small and Medium Enterprises (MSMEs) in Africa, have been variously reported to suffer lack of financial resources for growth and sustainability, especially because debt financing for financial institutions is generally expensive. That Equity financing through Venture capital (VC) is a non-bank source of funds considered to be an important alternative financing for small scale enterprising yearning to grow. Studies show that VC has the capacity to reduce problems of information asymmetry, adverse selection and moral hazard. VC though touted as the best alternative financial resource for MSMEs worldwide is still less appreciated by entrepreneurs in Africa in general and Kenya in particular. Empirical studies have shown that VCs portend more risk in financing MSMEs in earlier development stages, however, with proportionate breath; reasonable return is expected from early stage financing, into their mezzanine, growthand early maturity stages. Study reports therefore provide that there should be no cause for alarm on the side of the entrepreneur and the Venture Capitalist. This paper sought to investigate the level of awareness, appreciation and acknowledgement among the Kenyan investment community about the role Venture Capital financing play in boosting industrial development through MSMEs. The study employed a case study methodology that utilized a sample of 106 MSMES out of a target population of 229 MSMES registered in Nairobi Central Business District in Kenya. Data were collected by use of semi-structured questionnaire and personal interviews. Descriptive statistics including correlation analysis, ANOVA and measures of central tendencies using SPSS version 19 were employed to determine the variable associations, relationships and dispersion. The main findings were that all entrepreneurship development stakeholders were largely ignorant of the potentials for VCs to bridge the MSME financing gap. That venture capitalists were not willing to finance MSMEs in Kenya due to their volatility, inability to meet the requirements of venture capitalists and their inexperience in business financial management. That MSMEs in Kenya were found to be scarcely in partnerships, which denied them reasonable capital base requisite to attract VCs. Despite the fact that VC is one of the most relevant and important sources of finance for innovative entrepreneurship growth, this study found lack of enterprising culture to drive the promotion, competition, innovation, sector development and industrialization in Kenya.
Venture Capital (VC): The all Important MSMEs Financing Strategy under Neglect in Kenya
(Centre for Promoting Ideas, 2012-11) Jagongo, A. O.
Micro, Small and Medium Enterprises (MSMEs) in Afri ca, have been variously reported to suffer lack of financial resources for growth and sustainability, especially because debt financing for financial institutions is generally expensive. That Equity financing through Venture ca pital (VC) is a non-bank source of funds considered to be an important alternative financing for small scale ent erprising yearning to grow. Studies show that VC h as the capacity to reduce problems of information asymmetr y, adverse selection and moral hazard. VC though to uted as the best alternative financial resource for MSMEs worldwide is still less appreciated by entrepreneu rs in Africa in general and Kenya in particular. Empirical stud ies have shown that VCs portend more risk in financ ing MSMEs in earlier development stages, however, with proportionate breath; reasonable return is expected from early stage financing, into their mezzanine, growth and early maturity stages. Study reports therefo re provide that there should be no cause for alarm on the side of the entrepreneur and the Venture Capitalist. Th is paper sought to investigate the level of awareness, appre ciation and acknowleggement among the Kenyan invest ment community about the role Venture Capital financing play in boosting industrial development through MSM Es. The study employed a case study methodology that ut ilized a sample of 106 MSMES out of a target popula tion of 229 MSMES registered in Nairobi Central Business Di strict in Kenya. Data were collected by use of sem i- structured questionnaire and personal interviews. Descriptive statistics including correlation analys is, ANOVA and measures of central tendencies using SPSS versi on 19 were employed to determine the variable assoc iations, relationships and dispersion. The main findings wer e that all entrepreneurship development stakeholder s were largely ignorant of the potentials for VCs to bridg e the MSME financing gap. That venture capitalists were not willing to finance MSMEs in Kenya due to their vola tility, inability to meet the requirements of ventu re capitalists and their inexperience in business financial manage ment. That MSMEs in Kenya were found to be scarcely in partnerships, which denied them reasonable capital base requisite to attract VCs. Despite the fact tha t VC is one of the most relevant and important sources of finan ce for innovative entrepreneurship growth, this stu dy found lack of enterprising culture to drive the promotion , competition, innovation, sector development and industrialization in Kenya.
Financial Practice as a Determinant of Growth of Savings and Credit Co - Operative Societies’ Wealth
(International Journal of Business and Social Science, 2012-12) Olando, C.O.; Mbewa, M.O.; Jagongo, A. O.
Savings and Credit Co-operative Societies (SACCOs) in Kenya have been investing over the years with the objective of maximizing their wealth. As is the case with all investments, wealth maximization is a key objective whenever SACCOs have chosen an investment avenue from a universe of possible investment vehicles. Studies have shown that lack of sufficient Growth of SACCOs’ Wealth has made it difficult for them to absorb their operational losses, which has threatened their sustainability. This has led to the losses being absorbed by members’ savings and share capital, hence lose of members’ savings. While the purpose of SACCOs is to mobilize members’ funds and grant credit for the members’ development, this has made it difficult for the SACCOs to grow their wealth, achieve this objective and contribute favorably to National Domestic Savings. This failure to build enough SACCOs’ wealth, through accumulation of institutional capital, is attributable to weak financial stewardship, inappropriate capital structure and imprudent funds allocation strategy. The purpose of this paper is to assesses the financial practice as a determinant of growth of wealth of SACCOs with a view of ameliorating the situation for socio-economic development. This study used descriptive design in soliciting information on the determinants of growth of SACCOs’ wealth. Data was collected from the census of 44 SACCCOs in Meru county using a questionnaire and document review tool, and analyzed using both descriptive and inferential statistics. The study findings indicated that Growth of SACCOs wealth depended on Financial stewardship, Capital structure and Funds allocation strategy. The study further found that SACCOs inadequately complied with their by-laws; incomes from investments did not adequately cover their costs. The study recommends that SACCO should; continuously review credit policies, establish irrecoverable loan provision policies, develop sound staff recruitment policies, use appropriate financing mix. And that the Government should review legal framework to ensure that institutional capital is used to grow SACCOs wealth. Keyword: Capital Structure, Growth of SACCOs’ Wealth, Financial Stewardship, Funds Allocation Strategy, Institutional Capital, Operational Losses, Sustainability of SACCOs
Demand for Money: Implications for the Conduct of Monetary Policy in Kenya
(Canadian Center of Science and Education, 2013) Kamau, A.W.; Sichei, M.M.
The paper analyses demand for different monetary aggregates (M0, M1, M2 and M3) in Kenya for the period 1997:4-2011:2. Dynamic frameworks are used to estimate and uncover parsimonious and empirically stable demand for money functions. Price, real GDP, nominal 91-Day Treasury bill rate, nominal interbank rate, nominal deposit rate and foreign interest rate affected the long-run demand for money functions to different degrees. The demand for money functions is found to be unstable over the period for the parameter values, implying that the current monetary targeting policy framework is inappropriate. However, there are challenges in adopting an alternative monetary policy framework.
Budgetary control as a measure of financial performance of State Corporations in Kenya
(2013-02) Adongo, Kenneth Odour; Jagongo, A. O.
The importance of financial stability in enabling an organization to function efficiently and maximize the potential for service delivery cannot be underestimated. The quest for better service delivery under new public management in public organizations in Kenya necessitates the need for public organizations to have proper financial standing in order to run operations and motivate workers through better remuneration as well as improved working conditions. Critique of literature on factors affecting financial performance reveal that gaps remain on the influence of budgetary control on financial performance of public institutions. This study sought to investigate the relationship between budgetary controls and financial performance of state corporations in Kenya. The study sought to determine the salient features of budgetary controls in state corporations, establish the human factors within budgetary controls, establish the process of budgetary control in public organizations, and determine the challenges affecting budgetary control. A descriptive survey design was used to gather data from the state corporation’s managers of the sampled state corporations. 14 corporations were selected from the 138 to participate in the study. Purposive sampling was used to select 42 corporate services manager, finance manager and budget officer from each corporation to participate in the study. A questionnaire, whose content validity was checked through an expertise opinion and reliability through test pre-test methods, was used to gather information. Findings indicate that a positive significant relationship exists between budgetary control and financial performance of state corporations. Budgetary features reflect ability to predict financial milestones of organizations. Human factors within budgetary controls thus managerial commitment, employees’ motivation, employee training, competence as well as the attitude affect the budget control process. Budgetary control process exhibited a positive significant influence on financial performance of state corporations through influence on financial objectives, the allocation of funds as well as investment ventures that organization undertakes. The study recommends sensitization of management and employees of state corporations on the importance of budgetary controls in enhancing financial performance, avoidance of political interference in the budgetary process and use of budgets as tools for management efficiency. Key words: Budgetary control, budgetary process, financial performance, state corporations
The Social Media and Entrepreneurship Growth (A New Business Communication Paradigm among SMEs in Nairobi)
(International Journal of Humanities and Social Science, 2013-05) Jagongo, A. O.; Kinyua, Catherine
Social media is a new phenomenon that has changed how the business environment operates. Businesses are able to gain access to resources that were otherwise not available to them. It has also helped businesses to increase their worthiness, cultivate strategic partnerships and increase their contact with customers and suppliers. It has become important for business owners and marketers to understand how social media work as a communication and marketing tool and how they can significantly grow their businesses. The study focused on establishing the effect of social media on the growth of SMEs in Nairobi. This was done by determining the effect of social media on the market access, customer relationship management, innovativeness and pricing of products of SMEs in Nairobi. The study used descriptive research design. Questionnaires were administered on 246 SMEs in Nairobi, with the respondents being either the owners or managers. Cluster sampling was used to divide the population of interest and then simple random probability sampling technique was used to further identify the specific businesses to be used for the study. Both quantitative and qualitative data was collected and then analyzed using SPSS. The results of the study have been presented in tables and figures for easy interpretation. The study established that social media tools offer greater market accessibility and CRM which in turn have a significant impact on the growth of SMEs. On the other hand, the pricing of products and innovativeness aspects offered by social media have had very little impact to cause any growth in the SMEs. It revealed that geographical barriers can be broken down by the use of social media tools. Additionally, social media allows businesses to communicate speedily and cheaply with customers as well as allow them to construct a database that can be used to generate business leads that may translate to increased sales and thus grow the SMEs. The study recommends that policy makers such as the government should be keen on the current trends of technological adoption by SMEs to come up with policies that encourage best practices for the growth of the SME sector. Issues of copyright and privacy should also be addressed, and training of social media and provision of business solutions that would bridge the gap and encourage more SMEs to adopt the use of social media tools which would lead to their growth.
Bottom of the Pyramid Strategy and Financial Performance of Commercial Banks: An Assessment of Agency Banking Operations in Kenya
(GIFRE.ORG : Global Institute of Research and Education, 2014) Molonko, Brenda; Jagongo, A. O.
Many organizations in Kenya banks included are reaping from clients at the bottom of the economic pyramid. High competition in the banking Industry, has prompted banks to venture into this market segment to improve their financial performance. Agency banking was institutionalized in 2010 by The Central bank of Kenya to increase financial inclusion in the country. Commercial Banks licensed for agency banking have been registering a significant performance after introduction of agency banking. The general objective of the study was to establish the effects of bottom of the pyramid strategy on the financial performance of commercial banks through Agency Banking in Kenya. This study used descriptive research design. A census survey was carried out on all commercial banks undertaking agency Banking. Data collected were analyzed by the use of descriptive statistics using Statistical Package for Social Sciences (SPSS) and presented through percentages, means, standard deviations and frequencies and multiple regressions. The study revealed that Commercial Banks use agency banking to target the low income market segment in rural villages and urban slums. From the findings 57.4% of the financial performance of these banks is attributed to combination of the four independent factors (business growth, cost-saving approach, innovation and new partnerships
A Survey of Private Equity Investments in Kenya
(European Journal of Business and Management, 2014) Gatauwa, James M.
Private equity investments in the recent past have been very strong and using leverage to make deals has accelerated sharply as well in both developed and emerging economies. Therefore, private equity is a suitable alternative in financing organizations at their various stages of growth. Hence, this study uses an exploratory approach to establish the extent to which private equity investments are adopted by firms, the forms of private equity mostly applicable and the exit strategies of private equity funds. Primary data was collected using a questionnaire as the main primary data collection tool. The findings show that banks and development financial institutions are the top investors in private equity funds and large corporate companies are the top clients in adoption of private equity followed by SMEs while listed companies are the lowest adopters of private equity.
Relationship between Capital Structure and Performance of Non-Financial Companies Listed In the Nairobi Securities Exchange, Kenya
(globalbizresearch.org, 2014) Mwangi, L. W.; Muathe, Stephen M. A.; Kosimbei, G. K.
Corporate failure among companies in Kenya has often been associated with the financing behaviour of the firms. Momentous efforts to revive the ailing and liquidating companies have focused on financial restructuring. A great dilemma for management and investors alike is whether there exists an optimal capital structure and how various capital structure decisions, both short-term and long-term, influence business performance. This study therefore investigated the relationship between capital structure on the performance of non-financial companies listed in the Nairobi Securities Exchange (NSE), Kenya. The study employed an explanatory non- experimental research design. A census of 42 non-financial companies listed in the Nairobi Securities Exchange, Kenya was taken. The study used secondary panel data contained in the annual reports and financial statements of listed non-financial companies. The data were extracted from the Nairobi Securities Exchange hand books for the period 2006-2012.The study applied panel data models (random effects). Feasible Generalised Least Square (FGLS) regression results revealed that financial leverage had a statistically significant negative association with performance as measured by return on assets (ROA) and return on equity (ROE). The study recommended that managers of listed non-financial companies should reduce the reliance on long term debt as a source of finance.
Loan Repayment and Sustainability of Government Funded Micro-Credit Initiatives in Murang’a County, Kenya
(Center for Promoting Ideas, 2014) Mungai John Njangiru; Maingi, J.M.; Muathe, Stephen M. A.
In the attempt to alleviate poverty and empower the poor, many non-governmental organizations and Government line agencies have been providing credit money and social services to rural dwellers in Kenya. The role of these credit schemes is to help the rural poor, to earn a decent living, through their on-going income-generating activities. The government of Kenya overtime has formulated a series of rural development programmes to counter the problem. The most notable and current, is Youth Enterprise Development Fund and the Women Enterprise Fund which were both conceived in 2006 and 2007 respectively. In these programmes, identifying the marginal borrower has not been a simple affair owing to the complex interplay of costs, returns, and risks in credit markets. The role of the government in providing start-up funds and their relationship to sustainability is crucial. The main focus of this research was to analyze the loan repayment and sustainability issues of government micro-credit initiatives in Murang’a County. The specific objective of the study was to establish the effect of borrower characteristics to micro-credit repayment in Murang’a County. The study adopted a positivism philosophy of research, where the researcher was independent on what was being observed and what was studied. Descriptive survey design was used to determine the level of government funded micro-credit loan repayment and its effect on sustainability for other borrowers. The target population was 1520 social and economic groups in Murang’a County. Clustering and Simple Random Sampling techniques were applied to select a sample size of 307 groups including a census of 16 constituency credit officers, who were interviewed. This, in total accounted to 19.5% of the total population. A questionnaire and an interview schedule were used to collect data. Descriptive data were analysed using tables and charts. Qualitative data were analysed using Chisquare, Analysis of Variance and Logit Regression Model. Hypothesis testing revealed statistically significant results, for borrowers’ characteristics effect to loan repayment and sustainability. The study found that due to problems of high risk and high cost of borrowing, uncertainity of repayment capcity on the rural borrower has been reported high due to irregular income streams. Systems should be developed to ensure consistent incomes and expenditure to reduce/remove uncertainty. The study found some spouses who had run away from homes after receiving loans, to evade repayment or to evade the nugging demands from their partners or to part with some/all the amount borrowed. This may be one of the explanations of wife/husband buttering in Cental Kenya reported by the local media.
A Survey of the Factors Influencing Investment Decisions: The Case of Individual Investors at the NSE
(Center for Promoting Ideas,, 2014) Jagongo, A. O.; Mutswenje, V. S.
Individual investments behaviour is concerned with choices about purchases of small amounts of securities for his or her own account. Investment decisions are often supported by decision tools. It is assumed that information structure and the factors in the market systematically influence individuals’ investment decisions as well as market outcomes. The objective of the study was to establish the factors influencing investment decisions at the Nairobi Stock Exchange. The study was conducted on the 42 investors out of 50 investors that constituted the sample size. To collect data the researcher used a structured questionnaire that was personally administered to the respondents. The questionnaire constituted 28 items. The respondents were the individual investors. In this study, data was analyzed using frequencies, mean scores, standard deviations, percentages, Friedman’s test and Factor analysis techniques. The researcher confirmed that there seems to be a certain degree of correlation between the factors that behavioral finance theory and previous empirical evidence identify as the for the average equity investor. The researcher found out that the most important factors that influence individual investment decisions were: reputation of the firm, firm’s status in industry, expected corporate earnings, profit and condition of statement, past performance firms stock, price per share, feeling on the economy and expected divided by investors. The findings from this research would provide an understanding of the various decisions to be made by investors based on the prevailing factors and the eventual outcomes for each decision and would identify the most influencing factors on the company’s investors’ behavior on how their future policies and strategies will be affected since investment decisions by the investors will determine the company’s strategy to be applied.
Dividend Payout by Agricultural Firms in Kenya [An Empirical Analysis of Firms Listed on the Nairobi Security Exchange]
(Center for Promoting Ideas, USA, 2014) Ndede, F.W.S.; Waswa, C. W.; Jagongo, A. O.
Agriculture has been a major source of the country’s food security and a stimulant to off-farm employment yet agricultural production remained on decline. Most firms in the agricultural sector have performed below shareholder expectations which have led to shareholder apathy and have contributed to the decline of the rural economy due essentially to unstable and low dividend payout. This research is an attempt to analyze the determinants of dividend payout of Kenya Agricultural sector. It also focused on identifying whether various factors available as per literature influence dividend payout ratio in Agricultural sector in Kenya in existing scenario or not. Statistical techniques of correlation and regression were used to explore the relationship between key variables. Thus, the main theme of the study was to identify the various factors that influence the dividend payout policy decisions of Agricultural firms in Kenya listed on Nairobi Securities exchange. The objective of the study was achieved by adopting panel data estimation technique using multiple regressions because it is the best method to use when dealing with micro-units in the economy. Data analysis was carried out using the Statistical Package for Social Scientists (SPSS) version 17.0. The results show positive relationships between dividend payout and liquidity and profitability. The results also show negative associations between dividend payout and firm’s growth, Firm size and leverage. These results are consistent with the prediction by many authors
SME's access to credit, a case of Kisii county – Kenya
(Global Impact Factor, 2014) Anyieni, A. G.
The banking sector comprises of 49 institutions, 42 of which are commercial banks, 3 mortgage finance companies, one non-bank financial institutions and one building society as at December 2008, according to CBK annual reports. Despite the long existence of commercial banks in Kenya, local, international and multinational, they have shied away from lending to small-scale businesses. It is a well-established fact that access to finance is a major determinant of economic growth (Beck, Levine, and Loayza, 2000). Therefore, access to finance, which has been one of the core topics in development for quite some time, has emerged on the agenda of nearly all governments. The important policy question is: what measures must be taken to foster access to finance? This study therefore attempted to find out lending conditions by commercial banks that affect small-scale business in Kisii County. The study found out that competition, pricing, Commercial banks tight bank requirement as important factor that affect accessibility of loans by SMEs by commercial banks. The study concludes that Majority of the population are locked out of the formal financial sector due to the many strict requirements and stringent conditions required by the banks for one to open an account or access credit because their information is not captured. Consequently, the study recommends that CBK should influence the interest rate.
Influence of regulation practices on growth of second hand Motor vehicle dealers in Dagoretti District, Nairobi County, Kenya
(2014) Lithaa, Jamleck Njagi; Ngugi, Karanja; Njagi, Lisbeth
This study sought to establish the influence of regulation practices ongrowth of small and medium enterprises in Kenya with a specific reference to second hand motor vehicle dealers in Dagoretti District in Nairobi County. Despite the high potential of Second hand motor vehicle dealers in contributing to Social-economic development, the sector continues to face binding constraints that limit their potential and growth. In Kenya, motor vehicle dealers have significantly been affected by high collapse ratio or change of ownership. The study variables reviewed include government policy, the clearance process, registration process and the dealers’ integrity. The study adopted a descriptive research design since the researcher gathered information, summarized, presented and interpreted it for the purpose of clarification. The study focused on reviewing four variables i.e. Government policy, Clearance process, registration process, and dealers integrity. The target population for the study comprised of owners and employees of the second hand motor vehicle dealers in Dagoretti District Nairobi County giving the study a target population of 60.Simple random sampling technique were employed to select the sample of 58 respondents, which is 97% of the target population, multiple regression was used to show relationship between independent variable and dependent variable. The findings of study conclude that government policy is a key influence on growth of second hand motor vehicle dealers in Dagoretti District Nairobi County. Therefore, study recommends that the government should provide enabling policies and environment in line with vision 2030 for growth of business in second hand motor vehicle. Key words: Entreprenuership, theories, Government policy, Clearance process, registration process, and dealers integrity.
Determinant of procurement performance at retirement benefit authority in Kenya
(2014) Kingori, Phillip W.; Ngugi, Karanja
In Kenya, the pension system contributes to an estimated 68 percent of the total income of retirees and controls over KShs 510 billion worth of assets in 2011, the industry assets grew by 15.5 percent from Kshs548.7 billion in December 2012 to Kshs633.5 billion as at June 2013. As at December 2011, however, pension managers lost Kshs 500 million, the first drop since industry regulator Retirements Benefits Authority was started in 2002. Reports from Republic of Kenya show that pension schemes in Kenya are associated with loss of billions of money every year due to Poor procurement practice. The study was guided by four objectives (information technology, top management, procurement policy and training. The study was a descriptive research design. The target population was top management, middle level management and low level management in the Retirement Benefit Authority. Questionnaires was the main data collection instruments. The study employed both quantitative and qualitative analysis techniques. A regression model was used to analyze the objectives The collected data was processed using SPSS and presented using frequency tables, bar charts, and pie charts. The study found that information technology, top management, procurement policy and employee competency positively affected procurement performance at the retirement benefit authority. The purpose of information technology was to allow business partners to share information related to customer orders and inventory positions in supply chains. Such facilitation of information sharing by IT helps manage inventories more effectively and streamline operations. The study further found that preparation of procurement policy, frequency of formulation of procurement policy and the evaluation of the same contributes to the retirement authority benefit. According to the analysis of findings, the study concludes that procurement policy was the key factor influencing procurement performance at Retirement Benefit Authority since the P-value = 0.001 which is less than 5%. Keywords: Determinant of Procurement Performance at Retirement Benefit Authority in Kenya.
A Critical Review of Literature on Performance Contracting
(Global Institute for Research and Education, 2014) Muathe, Stephen M. A.; Cheche, S. G.
Public sector reforms aimed at making the public sector efficient in provision of goods and services has been around since the world financial crises of the 1980s that resulted from the unprecedented surge in oil prices and the collapse of centrally planned economic systems of the eastern bloc. These reforms have been characterized by adoption of prudent management of resources through introduction of financial and non-financial controls. One of the key pillars of public sector reforms is the introduction of performance contracting. This paper critically looks at studies conducted on the subject identifying consensus among scholars and controversies as well as gaps that exist in the literature on the subject. Though performance contracting has received positive reception, it is evident that its implementation has not been without challenges.

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