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Determinants of crowdfunding adoption among Small and Medium-sized Enterprises in Nairobi City: the moderating role of firm size
No full textFull - text thesisWhile crowdfunding is a potentially viable and attractive option to get funding, its acceptance and adoption is low among Kenyan small medium enterprises. Therefore, the main objective of this research was to establish the factors that influence the adoption of crowdfunding as a viable financing option for SMEs in Nairobi City, Kenya. The specific objectives were to determine the influence of regulatory support, practical viability, knowledge and infrastructural support on the adoption of crowdfunding as a source of financing by SMEs in Nairobi City. The study also sought to examine how firm size influences the relationship between key determinants and the adoption of crowdfunding among SMEs in Nairobi City County. This study was anchored on the Unified Theory of Use and Acceptance of Technology (UTAUT) and the pecking order theory. The methodology for the proposed study was guided by the positivism philosophy. The study adopted a descriptive cross-sectional research design. The target population consist of 21,100 registered SMEs in Nairobi’s CBD Stratified random sampling was utilized in the selection of 392 small medium enterprises. Primary data was gathered using a structured questionnaire that was self-administered through a fill and wait method. To enhance validity, a pilot study and an expert review was carried out. For this study, the Cronbach’s alpha cutoff value that was adopted is <0.7. The data obtained from questionnaires was coded and entered into the SPSS. Descriptive statistics, including mean and standard deviation, was used to describe the data. Inferential analysis, using binary logistic regression, was used to examine the association between the dependent and independent variables. The findings of this study offered insights into the barriers and enablers of crowdfunding adoption, offering practical recommendations for policymakers, regulators, and SMEs to enhance crowdfunding uptake as a financing alternative, thereby fostering small medium enterprises’ growth and innovation in Nairobi City County. The study established that regulatory support has a positive and significant influence on the adoption of crowdfunding as a source of financing in SMEs in Nairobi City County. In addition, the findings showed that knowledge has a positive and significant influence on the adoption of crowdfunding as a source of financing in SMEs in Nairobi City County. Moreover, the study established that infrastructure support has a positive and significant influence on the adoption of crowdfunding as a source of financing in SMEs in Nairobi City County. However, the study revealed that practical viability does not have a significant influence on the adoption of crowdfunding as a source of financing in SMEs in Nairobi City County. Also, the study found that firm size has a positive and significant moderating effect on the relationship between regulatory support, knowledge, infrastructure support, and the adoption of crowdfunding among SMEs in Nairobi City County. Therefore, the study recommends that SME owners and managers should enhance their understanding of crowdfunding and financial literacy through educational programs, focusing on campaign creation and financial management. They should also improve digital skills and engage with crowdfunding platforms offering robust technical support. By leveraging their firm’s size and assets, SMEs can enhance their attractiveness to investors and improve crowdfunding adoption. Crowdfunding platforms should provide accessible educational resources, such as tutorials and webinars, to boost entrepreneur confidence. Policymakers should simplify the regulatory framework, enforce stronger privacy regulations, and improve oversight to build trust and encourage crowdfunding adoption
Meditiating effect of code compliance implementation on the relationship between corporate governance and financial performance of listed firms in Kenya
No full textFull - text thesisThere is growing recognition that robust corporate governance practices can enhance transparency, accountability, and investor confidence, which are crucial for financial growth. Compliance with corporate governance codes is expected to mitigate risks, improve decision-making, and foster sustainable financial performance among listed firms. This study sought to establish the mediating effect of corporate governance code compliance implementation on the relationship between corporate governance and financial performance of listed firms in Kenya. It also sought to establish the controlling effect of risk management on the relationship between corporate governance and financial performance of listed firms in Kenya. The study adopted agency and stakeholder theories based on positivism philosophy and correlational research design. The study targeted 41 firms listed at the NSE for ten years between 2014 and 2023. It was based on balanced panel secondary data from the annual reports of individual firms from the NSE website. This study adopted an event study methodology in the data collection. This was done 4 years before the code and 6 years after the code. The data was gathered via data collection sheet and analysed through descriptive and inferential techniques. The inferential statistics involved the use of multiple regression analysis. The findings showed that integrated reporting requirements, governance audit and mandatory director training had a positive effect on financial performance. However, board structure had a negative effect on financial performance. On the other hand, risk management showed a positive controlling effect on the relationship between corporate governance code implementation and financial performance. The findings showed that corporate governance code implementation had a positive but insignificant effect on financial performance. The study concluded that corporate governance code implementation had an insignificant effect on the relationship between corporate governance and financial performance of listed firms in Kenya. This study recommends that listed firms increase integrated reporting, governance audits and adoption of corporate governance code for improved financial performance among listed firms in Kenya. There is need for the listed firms to ensure balanced board composition with a reduced number of executive director and increased independent directors in the board. The study recommends similar studies based on other factors influencing financial performance, other listed firms, and primary data. This study is limited by the variables, scope and methodologies adopted
Towards the decriminalisation of attempted suicide in Kenya: diversion as a restorative justice mechanisms
No full textFull - text undergraduate research projectThe Centre for Disease Control (CDC) defines attempted suicide as an attempt where someone harms themselves with any intent to end their life, but they do not die as a result of this action.1 According to the World Health Organization (WHO), 703,000 people die each year as a result of suicide and of these cases, there are even more of those who attempt suicide being projected at least 20 times more frequent than “completed suicides”.2 In 2019, the WHO age-standardised report estimated that Africa carried the highest suicide burden at 11.2 per 100, 000 population while the suicide rate in Kenya was estimated at 11.0 per 100, 000 population.3 Research suggests that psychiatric illness play a major role in attempted suicide with depression and other mental disorders emerging as significant risk factors for both the youth and adults.4 The impact of childhood adversities, including experiences such as sexual or physical abuse, along with substance abuse, stressful life events (such as bereavement, job loss, or relationship breakdown), financial struggles, impending legal issues, and facing or being recently diagnosed with a terminal illness are leading causes for attempted suicide.5 Quantitative studies highlight additional risk factors, such as sociodemographic elements (male gender for completed suicides and female gender for non-fatal suicidal behaviour), younger age, genetic predisposition, and personality traits like neuroticism as contributing factors too.6 Socioeconomic status also plays a role, with low status correlating with increased suicide risk. 7Qualitative research in specific regions further identifies poverty, intimate partner violence, family rejection, social isolation, stigma, and chronic physical illness as contributing factors to suicidal behaviour.8 This complexity suggests a multifaceted interplay of factors, often interacting or modifying each other, contributing to the understanding of the causes behind both suicide and attempted suicid
Audit committee attributes, internal audit function, and fraud risk management: a case of CGIAR organizations in Kenya
No full textFull - text thesisMore than ever, all stakeholders in an entity must work collaboratively to effectively tackle the ever rising risk of fraud. The role of the audit committee has been determined to be central in effectively managing fraud risk in organisations. Whilst numerous past studies have been conducted on the effect of audit committee attributes on fraud risk management their conclusions have been varied. Additionally, these studies did not consider the moderating variables between the audit committee attributes and fraud risk management. Consequently, these past studies demonstrated geographical, contextual, methodological, and conceptual gaps. This study’s objective was to contribute in bridging the noted research gaps by assessing the level of influence of the audit committee attributes on fraud risk management in organizations and the moderating effect of the presence of an internal audit function. The study was conducted on nine CGIAR organizations with a presence in Kenya, targeting a sample of 185 respondents selected through stratified random sampling. It applied the quantitative research design and used a questionnaire with closed-ended questions and a 5-tier Likert scale for data collection. Ordinal logistic regression was used to test the direct influence of audit committee attributes on fraud risk management. The study's findings revealed that the audit committee attributes i.e. composition, independence, meetings, and expertise significantly predicted variations in fraud risk management. The moderation model demonstrated that the internal audit function significantly enhanced the relationship between audit committee attributes and fraud risk management. The study concluded that audit committees that had well constituted and inclusive memberships; that were functionally relationally, and structurally independent; that held frequent and well-structured meetings; and that had committee members with adequate financial know-how were critical in achieving effective fraud risk management. Further, the study also concluded that the presence of internal audit functions enhanced the effectiveness of audit committees in enhancing fraud risk management. The study recommended that policymakers, regulators, CGIAR headquarters, and CGIAR organizations enhance the characteristics of audit committees and institute fraud risk framework. The findings of the study will also inform future research into the interplay between audit committee characteristics and the internal audit function on fraud risk management. The study’s limitations included the limitation of scope to CGIAR organizations; the application of a quantitative methodology which excluded information that could have been derived from adding qualitative approaches; and the exclusion of audit committee members as respondents to the study
Reevaluating defilement laws in Kenya - a case for streamlining prosecutorial discretion
No full textFull - text undergraduate research projectIn Kenya, the Sexual Offences Act was initially enacted to protect minors from defilement, focusing primarily on adult offenders. However, a critical issue has emerged where minors engage in consensual sexual activities with each other, despite the law's unequivocal stance that minors cannot legally consent to sex. This legal framework leads to the classification of such consensual acts between minors as defilement, thereby subjecting them to potential criminal liability. The research problem centres on the inconsistency and possible misuse of defilement laws when prosecuting minors involved in consensual sexual relations, raising questions about the appropriateness and fairness of the current legal approach. This research will examine prosecutorial discretion in cases where both parties are underage, analysing how the law is applied in practice and exploring the potential applicability of Romeo and Juliet laws in Kenya. The study will be grounded in the "Best Interests of the Child" theory, which posits that any legal action involving minors should prioritise their welfare and evolving capacities over punitive measures. By employing a doctrinal methodology and comparative analysis, the research will draw on experiences from other jurisdictions to critically evaluate existing legal frameworks and inform potential reforms. The novelty of this research lies in its critical examination of prosecutorial discretion, from which viable recommendations will be made. The study aims to propose a balanced legal framework that addresses the unique circumstances of minors engaging in consensual sexual activities, protecting them from both legal repercussions and exploitation. Ultimately, this research aims to advocate for policy reforms that ensure a more consistent and equitable approach, aligning the Kenyan legal system with the best interests of children while safeguarding them from abuse
An Examination of the relationship between emotional intelligence and opportunity identification among Small and Medium Sized Enterprises in Kenya
No full textFull - text thesisEmotional antecedents of opportunity identification have long been neglected by researchers but have become more critical towards the survival and success of entrepreneurs. Indeed, there has been a deficiency in the level of understanding of the manner in which positive and negative emotions influence the identification of opportunities and the variation in these influences amongst novice and experienced entrepreneurs alike. The general objective of the study is to assess the relationship between emotional intelligence and opportunity identification in Small and medium enterprises in Kenya(SME). Its specific objectives include: to determine the effect of self-awareness on opportunity identification in SMEs in Kenya; to examine the impact of social awareness on opportunity identification in SMEs in Kenya; and to ascertain the role of self-management on opportunity identification in SMEs in Kenya. The study was underpinned by the Theory of Multiple Intelligences and the Social Cognitive Theory. It applied the positivism philosophy and a correlational research design. Primary data was collected from 398 individuals (the business owners of 398 firms within the Medium Trader Shop or Retailer Services and Small Trader Shop or Retail Services sector located within the Nairobi CBD using structured questionnaires. The data from the questionnaires was then cleaned, coded, and inserted in the Statistical Package for Social Sciences to facilitate the conduct of both descriptive and inferential statistical analysis. The study established that there is a positive correlation between emotional intelligence dimensions – self-awareness, social awareness, and self-management - and opportunity recognition. The implication is that SME proprietors who are self-aware are more capable of recognising opportunities. The study further established that there is a positive correlation between social awareness and opportunity recognition. This implies that SME proprietors who have higher social awareness are more capable of recognising opportunities. It also established that there is a positive correlation between self-management and opportunity recognition. The implication is that SME proprietors who have good self-management are more capable of recognising opportunities. The study recommends that policymakers and SME regulators expand emotional intelligence training initiatives to support opportunity recognition. Management should also foster emotionally intelligent work environments by enhancing self-awareness and encouraging empathy and adaptability to promote strategic decision-making and entrepreneurial resilience. Additionally, an enhanced focus on self-awareness will ensure the application of self-assessment which enhances the determination of whether conditions are prime for opening new business ventures
An Evaluation of social-economic implications of mobile money solutions on households in Nairobi, Kenya
No full textFull - text undergraduate research projectThe purpose of this study is to investigate the social-economic implications of mobile money solutions in households in Nairobi, Kenya, focusing on borrowing, saving, and investing. Mobile money solutions, including platforms like M-Pesa, M-Sharri, and KCB M-Pesa, have significantly transformed the financial landscape in Africa, with Nairobi, Kenya, as a prominent focal point of this transformation. These services have provided secure, accessible, and efficient ways for users to save, borrow, and invest, advancing financial inclusion for underserved populations, particularly low-income earners, women, and small businesses. By lowering transaction costs and expanding access to credit, mobile money solutions have become critical tools for personal finance management and business growth, fostering empowerment in marginalized communities. Despite the recognized economic benefits, there is limited research on the broader social-economic impacts of mobile money, particularly in urban areas like Nairobi. This study aims to explore how mobile money usage influences financial behaviors and contributes to social and economic transformation, examining aspects such as cash dependency, financial resilience, social cohesion, and economic stability. Through a detailed analysis of household interactions with mobile money services, this research seeks to illuminate the multifaceted social-economic implications of mobile money in Nairobi, offering insights for policymakers, financial institutions, and other stakeholders interested in leveraging mobile money for inclusive urban development
Risk management practices and financial performance of individual pension schemes in Kenya: the moderating role of regulatory frameworks
No full textFull - text thesisInvestments in Kenya’s pension industry have experienced significant volatility, leading to fluctuations in financial performance and periods of negative returns. This study explores the effects of risk management practices—internal controls, risk assessment, and risk avoidance—on the financial performance of Kenya’s registered individual pension schemes. Anchored in modern portfolio theory and agency cost theory, the research adopted a quantitative, descriptive design targeting the finance team from all 48 registered individual pension schemes in Kenya. A census approach was employed, with structured questionnaires administered electronically to the 48 individual pension schemes, achieving a 98% response rate (47 respondents). Data were analyzed using correlation and cross-sectional OLS regression. Key findings revealed a significant positive effect of risk avoidance practices on financial performance, while internal controls and risk assessment showed statistically insignificant direct effects. The regulatory framework significantly moderated the relationship between risk avoidance and performance amplifying its positive impact. Correlation analysis further confirmed strong associations between all risk management practices and financial outcomes Notably, adherence to regulatory guidelines correlated strongly with improved performance The study concludes that pension schemes must prioritize risk avoidance strategies and align them with regulatory requirements to enhance financial sustainability. Recommendations include institutionalizing proactive risk evaluation protocols, strengthening compliance with Kenya’s Retirement Benefits Regulations (2023), and integrating risk-adjusted metrics into performance monitoring. These findings offer actionable insights for policymakers and scheme managers to mitigate systemic volatility and improve long-term returns. The study acknowledges limitations, including its focus on individual pension schemes in Kenya, which limits generalizability to other pension models or regions. The cross-sectional design restricts causal inferences, and the reliance on self-reported data introduces potential response bias. Additionally, the omission of variables like leadership commitment and macroeconomic factors may oversimplify the complex drivers of financial performance. Despite these constraints, the research contributes theoretically by refining agency and modern portfolio theories, demonstrating how internal controls mitigate agency costs and how risk avoidance aligns with risk-return optimization. Practically, it offers policymakers and pension managers actionable insights, emphasizing the integration of risk avoidance with regulatory compliance, advanced technologies, and adaptive governance. The findings also highlight the need for future longitudinal and mixed-methods studies to explore temporal dynamics and contextual nuances. The study concludes that pension schemes must prioritize risk avoidance strategies and align them with regulatory requirements to enhance financial sustainability. Recommendations include institutionalizing proactive risk evaluation protocols, strengthening compliance with Kenya’s Retirement Benefits Regulations (2023), and integrating risk-adjusted metrics into performance monitoring. These findings offer actionable insights for policymakers and scheme managers to mitigate systemic volatility and improve long-term retur
Bank and customer-specific factors and customer trust in Islamic banks in Kenya: the moderating role of the economic environment
No full textFull - text thesisIslamic banking is pivotal in addressing the financial needs of Muslim communities in Kenya while appealing to non-Muslims through its ethical, interest-free, and socially responsible principles. However, with Kenya’s Muslim population growing at 2.7% annually, Islamic banking struggles to expand, leaving many Muslims excluded from formal financial systems or compelled to use conventional banking products misaligned with Sharia principles. The fragility of Islamic banks, exemplified by the 2022 liquidity crisis at First Community Bank (now Premier Bank), underscores the importance of trust. This study explored the drivers of trust in Islamic banking among customers of Islamic banks, guided by Customer Trust Theory, Theory of Planned Behavior, and Information Asymmetry Theory. Adopting a pragmatism research philosophy and a convergent mixed methods design, it examined bank-specific factors (Sharia compliance, service quality, transparency), customer-specific factors (religious adherence, financial literacy, prior banking experiences), and the moderating role of Kenya’s economic environment (macroeconomic stability, inflation, regulatory frameworks). Using ordered logistic regression to analyze survey data from 384 both Islamic banking and non – Islamic banking customers in Nairobi, Mombasa, and Garissa, and integrating qualitative insights, the study found that bank-specific factors (Sharia compliance, service quality, transparency) had a significantly positive effect on trust. Customer specific factors (religious adherence, financial literacy, prior banking experiences) also exhibited a significantly positive effect. Contrary to expectations, Kenya’s economic environment did not moderate these relationships, indicating trust resilience across macroeconomic conditions. Qualitative insights revealed regional differences, with Garissa customers prioritizing Sharia compliance more than those in Nairobi. The study recommends institutional reforms to strengthen Sharia governance, service quality, and transparency, alongside customer-centric strategies like tailored financial literacy programs and community engagement. Policymakers should develop sector-specific regulations to enhance stability and inclusivity. By aligning operations with ethical values and customer needs, Kenya’s Islamic banking sector can deepen financial inclusion, reduce reliance on conventional systems, and foster economic resilience, harmonizing the financial landscape with the nation’s socio-cultural ethos. The study advances theoretical frameworks by demonstrating how religious norms (Theory of Planned Behavior) and ethical transparency (Commitment-Trust Theory) drive trust in Islamic banking, offering a faith-based lens for analyzing financial systems. It provides actionable strategies for Islamic banks, emphasizing Sharia compliance audits, digital transparency tools, and tailored financial literacy programs to strengthen customer trust in Kenya’s dual-banking context. Policymakers benefit from recommendations to harmonize regulations with global Islamic finance standards and integrate Sharia literacy into national education, fostering institutional credibility and financial inclusion. The finding that trust resists economic moderation challenges conventional banking models, highlighting Islamic finance’s ethical resilience and offering insights for faith-based sectors globally. Geographic bias toward urban centers (Nairobi, Mombasa, Garissa) limits rural perspectives, while the cross-sectional design overlooks temporal trust dynamics. Reliance on self reported data risks response bias, and Likert-scale measurements may oversimplify nuanced trust constructs like religiosity or digital engagement. The study excludes emerging factors (e.g., fintech innovations, blockchain) and extreme economic scenarios, narrowing its applicability to evolving banking landscapes. Despite log transformations, skewed financial literacy variables and ordinal data constraints may underrepresent complex interactions between trust drivers
The Impact of digital marketing strategies on consumer purchase intention - a case study of Unilever Kenya Limited
No full textFull - text undergraduate research projectDigital marketing has emerged as a transformative force in shaping consumer behaviour and purchase intentions in today's highly competitive and interconnected marketplace. With the proliferation of digital platforms and technologies, businesses face growing challenges to engage consumers effectively and foster brand loyalty. The main objective of the study was to investigate the influence of digital marketing strategies, including mobile marketing, social network marketing, content marketing, and website design marketing, on consumer purchase intention with the general objective of this study been to determine the impact of digital marketing strategy on consumer purchase intention in Unilever Kenya limited and the specific objectives including:To determine the impact of mobile marketing on consumer purchase intention at Unilever Kenya Limited, To establish determine the impact of social media marketing on consumer purchase intention at Unilever Kenya Limited ,To determine the impact of website content on consumer purchase intention at Unilever Kenya Limited and to establish the influence of content marketing on consumer purchase intention at Unilever Kenya Limited. The study adopted a descriptive crosssectional survey design targeting 384 Unilever consumers in kenya. The anchoring theory of the study being Diffusion of innovation theory and the supporting theory of the study been Technology of acceptance modei(TAM). Purposive sampling approach was adopted focusing on a sample of 384 respondents. Primary data was collected through structured questionnaires which were administered to respondents through a pick and drop method. Descriptive statistics-mean statistics and standard deviation and multiple linear regression under inferential statistics were used in the analysis of the data. The results indicated that digital marketing strategies had a significant and positive impact on consumer purchase intention while one had a negative impact, with content marketing and social marketing showing the strongest influence, followed by website design, which showed a significant positive impact, while mobile marketing showed a negative influence. The study reveals that digital marketing strategies on mobile marketing, social media marketing, content marketing, and website design serve as significant predictors of buyer behaviour for sustainable purchasing. Thus, marketers should execute an all-inclusive approach, with a focus on the mentioned areas that would maximize consumer engagement and purchase intention. Further research on other digital marketing strategies is encouraged to influence consumers' purchasing decisions.
Keywords: digital marketing strategies, mobile marketing, social media marketing, content marketing, website design marketing, consumer purchase intentio