Riro, Jerusha KeruboMusau, SalomeNjoka, Charity2024-11-132024-11-132024Riro, J. K., Musau, S., & Njoka, C. (2024). The Effect of Microfinance Services, Financial Literacy and Financial Health of Women Members of Selected Microfinance Banks in Kenya. Journal of Finance and Accounting, 8(7), 44–63.https://doi.org/10.53819/81018102t7021https://ir-library.ku.ac.ke/handle/123456789/29371Journal ArticleThe World Bank identifies the financial health of women as crucial for poverty reduction and economic development. This study aimed to assess the impact of microfinance services and financial literacy on the financial health of women members of selected microfinance banks in Kenya. Specifically, it examined the effects of micro-credit, micro-savings, and micro-insurance services, as well as the moderating role of financial literacy. Guided by empowerment, gender stratification, finance growth, and information asymmetry theories, the study employed an explanatory research design within a positivist framework. The target population included 37,773 women with active deposit and loan accounts in 14 microfinance banks in Kenya, with a sample size of 384 respondents. Findings revealed that micro-credit, micro-savings, and micro-insurance services significantly enhance the financial health of women. Additionally, financial literacy positively moderates the relationship between microfinance services and financial health. The study recommends that microfinance institutions diversify their financial products beyond traditional micro-credit and implement educational programs to improve awareness and understanding of micro-savings services among womenenArticle