Diversity and Financial Inclusion: The Role of Microfinance Institutions in the Growth of SMES in Kenya
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Date
2023
Authors
Muathe, Stephen
Kori, Blandina
Journal Title
Journal ISSN
Volume Title
Publisher
International Journal of Economics, Commerce and Management
Abstract
Diversity and financial inclusion was viewed as a blended inclusion of commercial activities,
values and value addition on enterprise’s goals and mission. In this study diversity and
financial were discussed as constant work in progress which needed to be maintained and
nurtured for effectiveness. Microfinance institutions were found to be major component of
diversity and financial inclusion. The study sought to assess the role of Microfinance
institutions on the performance of small and medium enterprises. This was a secondary data
study, which involved a review of more than 80 journal articles, government printing and ebooks
for the period between; 2012-2021. The study found that microfinance institution were
a valuable components of diversity and financial inclusion. More findings indicated that
microfinance institutions contributed greatly to the growth of microenterprises as well as to
individual household needs. However, the benefits for microfinance institutions were not
inclusive, in that some stakeholders suffered discrimination, hence, the findings of the study
indicated mixed results. The study recommends that regulatory framework should be more
observant when registering the microfinance institutions to protect the consumers of all
levels.
Description
research article
Keywords
Diversity, Financial Inclusion, Microfinance Institutions, SMEs, Growth, Kenya
Citation
Kori, B., & Muathe, S. DIVERSITY AND FINANCIAL INCLUSION: THE ROLE OF MICROFINANCE INSTITUTIONS IN THE GROWTH OF SMEs IN KENYA.