The Effect of Microfinance on Rural Women Empowerment in Kikuyu Constituency, Kiambu County in Kenya
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Date
2020
Authors
Karuga, C. W.
Jagongo, A.
Journal Title
Journal ISSN
Volume Title
Publisher
International Academic Journals
Abstract
Microfinance Institutions (MFIs) provide its
members with various services to help
improve their entrepreneurial ventures and
in the end empowering them. Despite many
studies carried on the topic, the effect of
microfinance intervention on the
empowerment of women entrepreneurs in
rural constituencies remains largely
unexplored in Kenya. This study sought to
close the gap by establishing the effect of
Micro Finance on rural women
empowerment in Kikuyu Constituency,
Kiambu County in Kenya. The study
adopted a descriptive research design with
the population consisting of all women
groups in Kikuyu Constituency, Kiambu
County in Kenya. The sample of the study
consisted of the 80 active women groups.
Primary data was gathered using structured
questionnaire for analysis which was done
using the Statistical Package for Social
Sciences (SPSS version 19) to generate the
descriptive statistics and also to generate the
trends results and regression findings.
Findings on the analysis of variance
(ANOVA) indicate that the overall model
was statistically significant as indicated by
an F statistic of 4.863 and p value less than
0.04608. The regression analysis revealed
that micro credit to be statistically
significant with micro training and micro
saving with significance of more than 5% to
be not statistically significant. This study
provides recommendations clear financial
management strategies should be set aside to
address key critical financial difficulties
facing women particularly developing good
financial management technique to provide
adequate responses to challenges and
problems by focusing on women business
processes to minimize claims and enable
women growth and women empowerment
and have clear framework to advice women
on how financial management decisions are
made and the procedure to be followed to
make sure the right decisions are made to
meet the benefit of the customers and
maintain their visibility. This will enable to
minimize any conflict of interest which
might ruin their image and reputation.
Nevertheless, women should focus on
planning issues to improve their
effectiveness and efficiency. Operating
activities which involves receivables,
payments and savings should be well
management to ensure efficiency and
effectiveness to maintain steady cash flows
to finance groups operating long term
projects and goals.
Description
A research article published in International Academic Journal of Economics and Finance
Keywords
microfinance, rural women, empowerment, Kikuyu constituency, Kiambu County, Kenya
Citation
Karuga, C. W. & Jagongo, A. (2020). The effect of microfinance on rural women empowerment in Kikuyu constituency, Kiambu County in Kenya. International Academic Journal of Economics and Finance, 3(5), 92-102