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The Effect of Selected Macro-economic Variables on Exchange Rates in Kenya
Full text linkPurpose – This paper sought to establish the effect of selected macro-economic variables on exchange rates in Kenya. The selected macro-economic variables for this study were interest rates, inflation rates and trade flows. Methodology – The study was modeled as a descriptive survey. A data collection sheet was used to collect secondary data from the published bulletin and other publications by Central Bank of Kenya and Kenya National Bureau of Statistics for a period of ten years between 2006 and 2015. The data was examined using descriptive, correlation and regression analyses. Findings - Results of the study showed that interest rate had a positive correlation coefficient of 0.446 with exchange rate, Inflation rate and exchange rate had a correlation coefficient of negative 0.395 while the Level of aggregation of trade flows had a correlation coefficient of positive 0.829 to the exchange rate. The value of R square was 0.745, a discovery that 74.5 percent of the deviations in exchange rates in Kenya occurred due to changes in interest rate, inflation rate and trade flows at 95 percent confidence level. The significance value obtained was less than p=0.05 implying that the model was statistically significant in predicting how the macro economic variables of interest rate, inflation rate and trade flows affect exchange rates in Kenya. Implications - The Kenyan shilling has been depreciating in value over the years implying a weakening of its purchasing power in the international markets. Policy makers should come up with policies that will contribute to reversing this trend. Managing the prevailing levels of inflation, interest rates and trade flows will be key as they have been found to significantly affect exchange rates. Value - The study will act as a guide to various banking sector policymakers key being the Central Bank of Kenya and the Treasury in formulation of the policies which will manage exchange rates and spur growth and profitability in this sector. The monetary policy decision makers can innovatively formulate foreign exchange strategies that ensure that the exchange rate in the financial market at any time do not negate investments in the economy. Key Words: selected macro-economic variables, exchange rates in Keny
The Effect of Macro Economic Variables on Stock Market Returns at the Nairobi Securities Exchange
Full text linkPurpose – This paper sought to establish the effect of Macro Economic Variables on the Stock Return at the Nairobi Securities Exchange. Methodology – The study employed a regression and correlation analysis. Monthly secondary data for the period July 2011 to June 2016 was collected from the Central Bank of Kenya (CBK) and Nairobi Securities Exchange (NSE). Data was analyzed using regression and descriptive statistics. Findings - The study established that there was a weak positive effect of 15.7% of the macroeconomic variables that were selected for the study on the stock returns at the NSE. The study further established the exchange rate (US$/Kes) had a major effect on the stock return for the period of study while money supply (M2) and the CBK lending rate had an insignificant effect on the stock return. Money supply was found to have a positive effect on the exchange rate whereas the CBK lending rate was negatively influenced by the money supply and the exchange rate. Implications –All the stakeholders at the Nairobi Securities Exchange should be aware of the macroeconomic variables as they have an effect on the stock return. The exchange rate also ought to be monitored keenly as it had a higher positive effect on the stock return. The Capital Markets Authority of Kenya and the Nairobi Securities Exchange should ensure there are adequate policies related to share pricing as well as enhancing its regulation on the share trading at the Nairobi Stock Exchange. The Government has to continue ensuring that it gives report on the macroeconomic variable status in country as this affects the investor returns that impacts the economy as a whole. Value - The study recommends that the CBK lending rate could be used to lower simultaneously the amount of money supply in the economy and the rate of foreign currency exchange to the Kenya Shilling. The study also recommends that CBK should continue ensuring that it improves on measures that control the money supply, the exchange rate and CBK lending rate as they affect earnings at the stock market
RELATIONSHIP BETWEEN ENTERPRISE PROFILE AND MICROENTERPRISE GROWTH AT KAMUKUNJI IN NAIROBI, KENYA.
Full text linkThe paper provides knowledge on the relationship between enterprise profile and microenterprisegrowth at Kamukunji. A correlational survey research design meets theobjective of the study. The sample includes 354 micro-enterprises selected by systematicsampling from KamukunjiJua Kali Association membership register. Data were collectedusing structured questionnaire, observation guide and field notes. Independent variablesinclude category, age, type of business, priority growth goal, and sources of funds.Dependent variable contains growth in sales, employees, departments, and divisions.Descriptive statistics such as frequency distribution, percentages, standard deviation, crosstabulation and non-parametric analysis of variance tests the relationship betweenvariables
Effect of Financial Literacy on Voluntary Retirement Planning Among Employees of State Corporations Under the Ministry of Health in Nairobi County, Kenya
Full text linkPurpose - The study sought to determine the effect of financial literacy on voluntary retirement planning among employees of state corporations under the Ministry of Health in Nairobi County, Kenya. Methodology – This study adopted a descriptive study design and uses primary data collected using a questionnaire with a five point Likert scale on the parameters of each variable. The study applied simple random sampling technique to select respondents to participate in the study. Data is analysed using means, percentages and frequencies. Multiple regression analysis was used to test the relationship between financial literacy and voluntary retirement planning. Findings – Financial literacy was found to influence the level of voluntary retirement planning among the employees since they are able to make key decisions that involve money in such a way that there is minimal risk to them. The study also established that financial literacy has a positive impact on voluntary retirement planning, however the results indicate that other factors such as income levels, age, marital status and level of education are also strongly related to retirement planning. Implications – To boost the voluntary retirement planning process, the eventuality of retirement should be made obvious for all the employees in the Kenyan economy so as to influence peoples’ attitude and receptiveness to the process. There is therefore need to develop financial education programs that focus particularly on important financial planning aspects for employees that will help them strike a balance between consumption and saving. Value – The findings of this study would also be valuable to the Retirement Benefits Authority and the Government of Kenya in development of policies and regulation
Evaluation of hepatoprotective activity of methanol stem bark extract of Haematostaphis barteri Hook. F. against paracetamol and carbon tetrachloride-induced liver injury in rats
Full text linkBackground: The ethnomedical uses of Haematostaphis barteri commonly known as blood plum has been documented in literature. The efficacy of its stem bark extract in management of liver diseases is well acclaimed among communities of Northern Nigeria. Objective: To evaluate the hepatoprotective activity of methanol stem bark extract of Haematostaphis barteri against paracetamol and carbon tetrachloride (CCl4)-induced hepatotoxicity in Wistar rats. Methodology: Phytochemical and acute toxicity studies were carried out. Liver damage was induced in different groups of Wistar rats using paracetamol (3 g/kg) and 1 ml/kg of CCl4 (1:1 in olive oil). The effect of Haematostaphis barteri extract was tested for hepatoprotective activity by evaluating serum biochemical parameters and liver histology. The extract was also tested for antioxidant activity using in-vitro DPPH free radical scavenging method. Results: Phytochemicals present include tannins, sterols, alkaloids, saponins, triterpenes, flavonoids and anthraquinones. Oral median lethal dose was estimated to be >5000 mg/kg. Pre-treatment with the extract (250, 500 and 1000 mg/kg) significantly (p<0.05) reduced alanine aminotransferase and alkaline phosphatase levels compared to paracetamol and CCl4 toxic groups respectively. These results were supported by the protection against hepatocellular necrosis in the extract treated groups as well as the DPPH radical scavenging activity. Conclusion: The results obtained suggest the stem bark extract of Haematostaphis barteri possesses hepatoprotective activity. Keywords: Haematostaphis barteri, Hepatoprotective, Paracetamol, Carbon tetrachlorid
Corporate Image and Brand Performance of Kenyan Universities
Full text linkThe highly competitive arena of the higher education sector implies the need for a goodcorporate image. Corporate image is recognized in the literature to have a positiveimpact on customer loyalty and is also a great way of differentiating an organizationfrom its competitors as well stimulating consumers purchase. The higher educationsectors’ products and services are increasingly similar today hence the need for theinstitutions to devise strategies to differentiate their products. Literature acknowledgesthe role of corporate image as an asset which could give an organization a chance todifferentiate itself with hope of maximizing its market share, acquiring new customersretaining existing ones, as well as counteracting the competitors’ actions in order toensure success and improved performance. Organizations in the service industry are in business of creating outstanding service experiences for their customers. The management of corporate image however, is not an easy one especially in the serviceindustry given the intangibility nature of services. An organization’s propermanagement of its corporate image, can add value to a firm in a variety ways.Conversely, a negative image can destroy an organization’s reputation and isolate theircustomers. Empirical study results on corporate image and brand performancerelationship however report mixed findings hence the need for the current study. Thisstudy investigated the relationship between corporate image and brand performance ofKenyan Universities. Data for the study were collected using a semi structuredquestionnaire. The study focused on key informants mainly universities’ corporateaffairs or public relations managers or their equivalent. The study findings indicate thatthe relationship between corporate image and brand performance is statistically significant. It explained 45.1% of variation (=.451). The standardized regressioncoefficient (β) value of the computed (composite index) scores of corporate image was.672 with a t-test value of 5.290 and a significance level of p-value=.000. The findings ofthe study support the notion that corporate image impacts brand performance. Thistherefore implies that an organization that invests in brand marketing activities relating to corporate image should experience enhanced brand performance. The study’scontribution to the higher education sector is in terms of addition to the body ofknowledge. It also provides policy and managerial implications. The study only coveredKenyan universities. A similar study could also be carried out in the future focusing o
Socio-demographic and treatment-related variables associated with CD4 cell counts in Kenyan HIV patients on second-line regimens
Full text linkBackground: CD4 cell response in patients on second-line therapy has not been evaluated in Kenya. Patients failing second-line are changed to third-line, however, the drugs used for third-line are expensive and unavailable. Therefore, early identification of potential poor responders to treatment would lead to early intervention and thus improve therapy of patients on second-line. Objectives: To identify socio-demographic and treatment related variables that affect CD4 response of HIV-positive patients on second-line regimens in Kenyatta National Hospital (KNH). Methods: A historical cohort study carried out at KNH between January and April 2016 and entailed collection of patient data from the files. The main outcome variable was CD4 cell count. The predictor variables of interest were sex, age, education level, and ART regimens. Results: All the study participants were on a lopinavir-based regimen. The study involved 84 study participants, 59.5% female study participants and 40.5% male. Male patients had significantly lower baseline CD4 cell counts and lower CD4 cell counts at ART (antiretroviral therapy) switch to second line compared to female patients. Efavirenz-based regimens were significantly associated with low CD4 cell count at ART switch to second-line. Conclusion: Patients should be started on nevirapine-based regimens unless contraindicated. Keywords: CD4 cell count, ART switch, second-lin
Prevalence and Risk Factors for Medication Discrepancies on Admission of Elderly Diabetics at Kenyatta National Hospital, Kenya
Full text linkBackground: Medications discrepancies are defined as the variations in drug regimens during transition from one health care worker or hospital to another. The elderly diabetic patients are at risk of medication discrepancies due to their multiple comorbidities resulting in different medications from the many healthcare providers they are likely to see and physiological changes as a result of advanced age; hence the need for medication reconciliation. Objectives: The main objective of the study was to measure the prevalence and identify risk factors for medication discrepancies at admission of inpatient elderly diabetics at Kenyatta National Hospital (KNH). Methods: The study design was cross sectional descriptive study in which patients aged 60 years and above were recruited at the time of admission at the medical wards in 2016. Convenient sampling was conducted. A comparison of the medication used before and after admission was done to determine the number of discrepancies if any. Admitting clinicians were interviewed to determine if discrepancies were intentional or not. Linear regression was conducted to determine risk factors for the number of errors per patient. Results: Among the 163 patients recruited, 1089 medication discrepancies were identified, 63.2% of the patients had at least one unintentional discrepancy. The number of unintentional discrepancies per patient was 1.5 per patient. The most common discrepancy was omissions 236 (98.3%). Independent risk factors for discrepancies were the number of medications prior to admission (adjusted β coefficient 1.377 (95% CI: 0.767, 1.987)), hypertension (β 0.992 (95% CI: 0.094, 1.890)) and those with discharge forms from other facilities (β 0.701 (95% CI: 0.010, 1.392)). Age had a negative association with medication discrepancies (β -0.755 (95% CI: -1.284, -0.226)). Conclusion: The prevalence of medication discrepancies was high hence the need for medication reconciliation to reduce these discrepancies. Key words: Medication Reconciliation, Unintentional discrepancies, Diabetes, Elderly diabetic
Weight changes and associated factors among breast cancer patients receiving chemotherapy at a referral hospital in Kenya
Full text linkBackground: Breast cancer patients experience weight changes during treatment, which adversely affect prognosis. However, cancer treatment in Kenya mainly focuses on tumor eradication with limited attention on weight management interventions. Objectives: To determine weight changes and associated factors among breast cancer patients receiving the first three cycles of chemotherapy at Kenyatta National Hospital. Methodology: A prospective cohort design was adopted. One hundred and forty two female participants aged 18-70 years diagnosed with stage 1, 2 and 3 breast cancers were followed up for three months during treatment. Data was collected after every visit using a structured questionnaire, individual dietary diversity tool and anthropometric assessments. Clinical data was extracted from participant’s medical records. Frequencies, proportions, measures of central tendency and chi square tests were utilized in analysis. Results: The majority of patients (59.2%) had stage 2 breast cancers. The prevalent type of cancer was ductal carcinoma (97.9%). Most of the patients were on adjuvant chemotherapy (66.9%). The mean weight (SD) was 66.6(13.6) kg, 65.9(13.4) kg and 66.1(13.2) kg at first, second and third cycles respectively. Overall (between the first and thirst cycle), the mean weight change (SD) was 0.4(1.6) kg. Majority (48.4%) gained weight and among them, 24.2% gained 2kg and 18.3% gained 1kg. Amidst the patients who lost weight, 19.2% and 11.7% lost 1kg and 2 kgs respectively. Weight gain was significantly (p<0.05) associated with being married and Body Mass Index (BMI) at baseline. On the other hand, weight loss was significantly (p<0.05) associated with diarrhea. .e will be a separate f Reproductive Age and Children unwill be usedg itessues where investibgators have minimal knowlConclusion: Weight changes were observed among the patients with majority of them experiencing weight gain than weight loss hence a need for early initiation of weight management interventions after diagnosis of breast cancer. Key words: Breast cancer, weight gain, chemotherap
Clinical audit of Heparin use in Rift Valley General Hospital, Nakuru County, Kenya
Full text linkBackground: Heparin is a high risk medicine that may cause significant harm if not used properly. It is ranked among the top 5 “high alert” medications by the Institute of Safe Medication Practices because of its low therapeutic index and potential for serious adverse outcomes. Adherence to guidelines and protocols, as well as careful monitoring of heparin use, is important in maximizing benefits of its use and minimizing on harm. Objective: The aim of this study was to examine the processes and outcomes of heparin use in adult in- patients at the Rift Valley General Hospital through the conduct of a clinical audit. Methodology: A structured clinical audit tool was developed through consolidation of information from various sources. The structures supporting heparin use were physically assessed, including the availability of policies, guidelines or protocols, protamine and laboratory reagents. The processes and outcomes of its use were audited through the prospective observation of heparin dosing, administration and monitoring among eligible adult in-patients. Results: Clinical audit revealed there were no policies, protocols or guidelines to guide heparin use at Rift Valley General Hospital. Delayed or lack of heparin monitoring were observed. Heparin termination was done well by introduction of warfarin at least three days before stopping heparin in majority of the patients. The overall clinical audit score at Rift Valley General Hospital was 60.6% which showed minimal compliance to the performance threshold/standard of heparin use. Conclusions: Clinical audit for heparin use in RVGH concluded inadequate compliance to the set standards. There is need to avail guidelines, protocols or policies in the institution and conduct regular monitoring to ensure use of heparin is improved and maximum benefit is realized. Key words: Heparin, clinical audit, monitoring