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EFFECTS OF CREDIT RISK MITIGATION STRATEGIES ON PROFITABILITY OF MICROFINANCE INSTITUTIONS IN NAKURU TOWN
No full textFULL TEXTCredit risk is on an increasing rate and is becoming an area of concern to many people and institutions in the lending business globally. This kind of exposure leads to instability and poor financial performance of microfinance institutions. Microfinance institutions are exposed to credit risk and therefore it is important for them to come up with mitigation strategies. The current study sought to find out the effects of credit risk mitigation strategies on the profitability of microfinance institutions in Nakuru town. The objectives of the study were to determine the role of loan appraisal procedures, debt recovery policies, credit risk monitoring and diversification of credit products on the profitability of microfinance institutions in Nakuru town. The study used a sample size of 75 respondents who were drawn from selected microfinance institutions in Nakuru town. The target population for the study was 500 respondents drawn from various microfinance institutions in Nakuru town. The sample size comprised of respondents drawn from various microfinance institutions drawn in Nakuru.Questionnaires were the main data collection tool that was used. Data was analyzed using the Statistical Package for Social Sciences (SPSS) and was presented in form of frequency tables, charts and graphs. The results revealed that credit risk monitoring was negatively correlated with profitability. However, this correlation was not statistically significant hence the null hypothesis 3 was retained and concluded that there was no evidence based on the sample to suggest that credit risk monitoring as associated with profitability. This is in agreement of the findings from a study carried out by Saunders, (2012) in the United States, the findings indicated that debt recovery policies largely affected the profitability of microfinance institutions. He looked at various microfinance institutions in the country and also investigated the policies that were being used in debt collection. The results revealed that credit risk monitoring was negatively correlated with profitability. The results revealed that credit risk monitoring was negatively correlated with profitability
Refining the face of Kenya: The dynamics under the 2010 constitution for diversity
No full textThe Commission finds that during the mandate period the state adopted economic and other policies that resulted in the economic marginalization of five key regions in the country: North Eastern and Upper Eastern; Coast; Nyanza; Western; and North Rift.
The constitution of Kenya 2010 represents the climax of a protracted period of agitation for an all-inclusive, responsive and democratic basis of governance. It constitutes a prescription for a united nation whose foundation lies in a government based on the essential values of human rights, equality, freedom, democracy, social justice and the rule of law'.?
While seeking to deliver an 'indivisible sovereign nation' where peace and unity reign, the constitution explicitly recognizes the ethnic, cultural, religious, wender, regional, social and political diversity of the Kenyan people. It seeks to ensure equality and fairness in these various aspects of differentiation through i number of mechanisms some of which include: recognition of diversity; entrenchment of democracy as the basis of governance; national values; a comprehensive Bill of Rights which is supposed to form an integral part of Kenya's democratic state and to act as the framework for social, economic and cultural policies; recognition of the needs of vulnerable members of the society; a representative, open and all-inclusive system of government; openness, equity and accountability in the management of public finance; establishment of an equalization fund to be used to provide basic services to marginalized areas so as to bring them to a level as close as possible to other areas; and establishment of a definite criterion for sharing national resources
INFLUENCE OF RISK BASED INTERNAL AUDIT ON FINANCIAL SUSTAINABILITY OF NON-GOVERNMENTAL ORGANIZATION IN NAKURU COUNTY, KENYA
No full textFULL TEXTFinancial sustainability requires appropriate risk based audit practice hence effective and efficient internal audit. Most non-governmental organizations are faced with sustainability challenges which can be attributed to difficulties in the design, monitoring and implementation of project financing strategies which may impact negatively on overall sustainability. The financial sustainability of an organization is a measure of the organization‘s ability to meet its financial obligations. Many Non-Governmental Organizations (NGOs) in Kenya largely depend on foreign funding. The declining state of foreign funding coupled with the Miscellaneous Amendment Bill of 2013 imposes a strain to an already constraining situation. The study was to determine the influence of risk based internal audit on financial sustainability of non-governmental organization. The study was specifically looking at the influence of Internal Audit Transparency, Internal Auditors Competency, Internal Auditors Independence and Management Support on financial sustainability of NGOs in Nakuru County Kenya. Theories underpinning this study were: Auditing Theory, Stakeholder Theory and Theory of Budgeting. Descriptive research design was used. The researcher used a sample frame of 79 NGOs. From each NGO the researcher targeted three officials namely program managers, grants managers and accountants. This gave a total of 237 officials who were the targeted population. A sampling technique was used where 115 officials were selected. Data collection was done through use of questionnaires constructed on a likert scale. Questionnaires were tested for validity and reliability. Statistical package for social sciences (SPSS) IBM software was used for analyzing the collected data. Data was analyzed using descriptive statistics which included frequency, percentages, mean and standard deviation and inferential statistics which included regression and correlation analysis and was presented in tables and figures. The study established that audit transparency, auditor competency, auditors‘ independence and management support had significant relationships with financial sustainability of non-governmental organization in Nakuru County. Correlation analysis showed that auditors‘ competence had a significant influence on financial sustainability of NGOs in Nakuru County. On the other hand audit transparency, auditors‘ independence and management support did not significantly influence financial sustainability of non-governmental organization in Nakuru County. The study was of significant to Government as it would assist in formulating effective policies on issues appertaining to the NGOs finances also it was significant to academicians and researchers. The study concluded that audit transparency, auditor competency, auditors‘ independence and management support had significant relationships with financial sustainability of non-governmental organization in Nakuru County. The study recommended that the organizations should ensure that internal auditors department operates independently without undue influence to ensure that the internal auditors perform their duties confidently without fear and favor. Also the researcher recommended that the internal auditors department should ensure they recruit competent auditors in the organizations with sufficient knowledge and skills in auditing to ensure that the audit process is accurate giving an accurate position of the financial standing of the organization
PRAGMATIC STRATEGIES OF APOLOGIES BY ENGLISH AS SECOND LANGUAGE STUDENTS OF THE UNIVERSITY OF KABIANGA, KENYA
No full textFULL TEXTPragmatic features of language vary across different circumstances, languages and cultures. This variability may result to incompetence in language users‟ choice and production of pragmatic strategies leading to pragmatic failure or communication breakdown. This study aimed at examining apology strategies by English as Second Language (ESL) students of the University of Kabianga. Successful communication is possible when ESL learners have pragmatic competence that enables them to use language forms suitable to different situations and contexts. The objectives of the study were to determine the preferred categories of apologies by the selected ESL speakers, to investigate how they respond apologetically in different situations, to find out whether the choice and production of apology strategies are influenced by social factors of social status and gender, and the contextual variable of severity of offence, and finally the appropriateness of the strategies used. The study used Brown and Levinson‟s face and politeness theory and a combination of apology schema based on Holmes (1990) and Demeter (2006). The target population was 602 respondents. Purposive sampling was used to obtain respondents who were undergraduate ESL students working towards a Bachelor of Education degree (English/Literature); both male and female; aged 19-25, from first year to the fourth year of study (8-4-4). The sample size was 242. The student sample was 240; 2 of them were purposively sampled as raters of apology strategies. In addition, 2 lecturer raters were purposively sampled from a population of 4. The language users were homogeneous in aspects such as educational background among others hence it can be assumed that they were a representation of the entire population. Three methods were used for data collection: interview questions, observation and a Discourse Completion Task (DCT) in form of a questionnaire. The DCT contained eighteen situations which were modified from those of Demeter (2006) and Thijittang (2010). They were prepared, typed and given to students who were asked to respond to them apologetically. The instruments were piloted for reliability. Two types of analysis were used on the data collected; quantitative and qualitative analysis. The researcher upheld ethical considerations in form of authorization and permission from National Commission for Science, Technology and Innovation (NACOSTI), Kabarak University, Ministry of Education, Kericho County Commissioner, University of Kabianga and the undergraduate ESL students of the University of Kabianga to carry out this research. The findings of this study reveal that ESL students use varied apologetic strategies, the highest of these being the use of multiple strategy. They were however found to lack pragmatic competence in the realization of apologies. The selected variables; social status, gender and severity of offence influenced the realization of apologies in varied degrees. The findings from the raters suggest that use of multiple apologies and intensifiers for a majority of scenarios were the most appropriate. As a recommendation, instruction in Pragmatics in English language teaching needs to be introduced in Kenyan classrooms with a view of enhancing learners‟ pragmatic competence. Suggested areas of further research include research of how other variables other than the ones used in this study on apology studies, use of non academic language users, among others. This study is anticipated to enrich literature in pragmatics and in particular socio-pragmatics. Moreover, the findings will benefit an academic researcher who may be interested in pragmatic studies among Kenyan English language users
EFFECT OF ENERGY MANAGEMENT PRACTICES ON ATTAINING COMPETITIVE ADVANTAGE AMONG MANUFACTURING FIRMS IN KENYA: A CASE OF SELECTED MANUFACTURERS IN NAIROBI COUNTY
No full textFULL TEXTStudies on energy management have focused principally on environmental conservation, reduction in operation and production expenses, energy savings, lower utility bills, and minimization of energy wastage. However, the gains of energy management practices can be transferred to competitive advantage strategies among manufacturing companies in Kenya so as to boost their efforts in attaining competitiveness. Success in managing competitive advantage arises out of a firm’s ability in identifying and implementing actions that can give the company an edge over its rivals and attain competitive advantage. Manufacturing firms in Kenya are the highest consumers of both electricity and petroleum products. Literature reviewed showed that a sizeable number of multinational companies have left the Kenya market due to high energy costs. In this regard, the study posits that there is need to transfer the gains of energy management practices to competitive advantage strategies. The study objectives were: to determine the effect of implementing energy management regulations on attaining competitive advantage, to examine the effect of implementing company energy management policy on attaining competitive advantage, to assess the effect of implementing energy efficient technology on attaining competitive advantage, and to assess the effect of energy expenses on attaining competitive advantage among manufacturing firms. The study adopted a survey research design, with a study population of 1,459,870 employees employed by manufacturing firms in Nairobi County. A sample of 399 respondents was selected randomly from selected firms in Nairobi County and its surrounding areas. Questionnaires were used to collect primary data while secondary data was obtained by reviewing previous studies in the area of study. Data analysis was done using descriptive statistics (mean, standard deviation, and frequency distributions). Inferential statistics included correlation for test of association, chi-square for test of agreement and regression for test of hypothesis. The study found that energy management regulations, company energy management policies, energy efficient technology and energy expenses are significant predictors of competitive advantage with an explanatory power of 44.8%. The study also revealed that employees are not adequately informed on energy management practices in the sector. Average energy expenses in the sector stood at 10.5% of the total revenue. The study showed that gains from energy management practices can be transferred to competitive strategies such as product differentiation, reduced energy costs, and increased profits. The study recommends that manufacturing firms should consider energy management practices as part of their core strategic agenda in assessing and reviewing their energy management practices. The government agencies and Kenya Association of Manufacturers should assist in implementing energy management regulations, through stakeholder involvement at firm level, offering incentives and rebates in acquisition of energy efficient technologies. Future studies may focus on the influence of firm size, inflation and taxes on competitive advantage. It should be noted that energy management practices yield enormous benefits to all stakeholders and that the practice should not only be considered a competitive tool but rather as a universal practice in attaining competitive advantage
EFFECT OF BRANDING STRATEGIES ON POST GRADUATE STUDENTS’ CHOICE OF UNIVERSITIES IN NAKURU COUNTY, KENYA
No full textFULL TEXTBranding in universities are alternatives to bring differentiation in order to attract the attention of stakeholders. The problem addressed by this study was to examine how branding strategies such as internal branding strategies, external branding strategies and service mix branding strategies influenced postgraduate students’ choice of Universities in Nakuru County, Kenya. The study employed explanatory research design, the population of the study comprised of 3,742 universities postgraduate students, of which 212 were randomly sampled. The universities were inclusive of the campuses which were both public and private. A pilot study was used to pretest the questionnaire from the respondents. Cronbach’s alpha was used to test the reliability of data collection instrument. Data was analyzed using descriptive statistics such as; frequencies, percentages, and Chi-square while inferential statistics methods included Pearson correlation and multiple regressions analysis were used to test the relationship between variables. The study findings indicate that there exists a statistically significant positive relationship between internal branding strategies employed by universities and postgraduate student choice of universities (β = 0.401, p0.05).The results further indicated that there exists a statistically significant positive relationship between service mix branding strategies employed by universities and postgraduate student choice of universities (β = 0.347, p<0.05). It is recommended that the university through internal branding leadership should ensure an organization culture created which will enhance prospective students’ choice of postgraduate programs and also enhance employees’ positive communication about the university. Universities management should have partnership programme and collaborations with the international institutions to enhance students and staff benefits. They should also support or carry out CSR activities. Postgraduate programs should also be priced fairly in a bid to attract more students, while relevant content and material information should be available for easy access in aiding students for registration of postgraduate academic programs. Universities should enhance the use of social media as a promotional channel for reaching prospective students. Universities should ensure stocked updated reading material through subscription to electronic academic journals
THE EFFECTIVENESS OF COUNSELING STRATEGIES AND REHABILITATION CENTERS IN CURBING CONSUMPTION OF ILLICIT BREWS IN LAIKIPIA COUNTY, KENYA
No full textFULL TEXTConsumption of illicit alcoholic brews is a national concern in Kenya. There are several approaches being used in curbing this menace and counseling is one of them. However, there is little empirical data that shows the effectiveness of counselors’ involvement in curbing consumption of illicit brews and the counseling strategies used in Laikipia County This study was carried out to investigate the effectiveness of counseling strategies used in curbing illicit brews in Laikipia County. Specific objectives included examining the effectiveness of Psychoanalytic therapy in curbing consumption of illicit brews in Laikipia County; establishing the effectiveness of Cognitive therapy in curbing consumption of illicit brews; investigating the effectiveness of Gestalt therapy in curbing consumption of illicit brews; establishing the prevalence of different counseling strategies used in curbing consumption of illicit brews and determining the effectiveness of rehabilitation centers in curbing consumption of illicit brews in Laikipia County. To realize these objectives the study used descriptive survey research design whose outcome was a description of the phenomenon under study. The target population was 548 counselors found in the County, either as private practitioners, school counselors or religious leaders; and the estimated 10,000 consumers of illicit brews in the County. The researcher used a sample of 721 respondents selected through stratified sampling technique guided by Krejcie and Morgan Sample Size Table. This comprised of 351 counselors and 370 consumers of illicit brews. The research instruments were a questionnaire and an interview guide for focused group discussion. The questionnaire had open-ended and closed ended questions. The researcher administered the instruments to the respondents in selected learning institutions, rehabilitation centers, private practitioners and religious centers in Laikipia County. Data obtained was then analyzed using Statistical Package for Social Sciences (SPSS) Version 22. Both inferential and descriptive statistics were used on the data. Inferential statistics included ANOVA and co-efficient determination.The study revealed that Psychoanalytic therapy is used to a significant extent in the area, Cognitive counseling strategy to a significant extent while Gestalt counseling strategy is used to a moderate extent. It also revealed that clients prefer group counseling to individual counseling, while most would rather have family based counseling rather than go through rehabilitation centers. Rehabilitation centers play a modest role in curbing the consumption of illicit brews in Laikipia County. The study revealed that counselors use of Psychoanalytic counseling strategy is more prevalent followed by Cognitive therapy then gestalt counseling strategy. The study recommends that counselors should improve their counseling skills for people addicted to illicit brews while the government and counselors should embark on a sensitization programmes to increase the use of counseling strategies in curbing consumption of illicit brews. The county government should increase the number of rehabilitation homes by investing in low cost community based rehabilitation centers. The government should support co-option of recovering illicit brews drinkers into rehabilitation programs in order to motivate other illicit brew consumers to get counseling. The study has shed light on the various counseling based interventions that are available to social workers and other Government agencies including NACADA officers that could help curb consumption of illicit brews in Laikipia County
DYNAMICS IN ARTISANAL GOLD MINING AND ITS IMPACTS ON COMMUNITY LIVELIHOODS AND THE ENVIRONMENT: A CASE OF NANDI AND WEST POKOT COUNTIES, KENYA
No full textFULL TEXTMany studies on Artisanal Gold Mining have estimated that it employs an estimated 13 Million people worldwide, with another 80 to 100 million people directly or indirectly benefiting. In sub Saharan Africa it is viewed as an economic mainstay activity providing direct employment to over two million people. Artisanal gold mining uses rudimentary processes to extract valuable minerals from primary and secondary ore bodies, and is characterized by the lack of long-term mine planning. In Kenya, less is known about how different artisanal gold mining communities operate and it is organised. The artisanal gold mining has negative environmental effects and limited positive transformation on the livelihoods of the local communities involved in Nandi and West Pokot counties. The objectives of the study were to determine the impacts of capital assets accessibility in artisanal gold mining on community livelihoods and their environment, evaluate the impacts of artisanal gold mining organizational dynamics on community livelihoods, examine the impacts of artisanal gold mining value chain on the community livelihoods and determine the concentration levels of selected heavy metals at the mining sites. Social capital theory and sustainable livelihoods framework were utilized in conceptualizing the study. The study employed a descriptive and experimental research design. Simple random sampling was used to select the respondents for interview. Primary data was obtained by using questionnaires, interview schedules, focus group discussions guide, key informants guide, observations, and photography with the laboratory tests for heavy metals being done using Atomic Absorption spectroscopy. Questionnaires were pretested before the actual field survey and the Information gathered during this pre-trial were used to modify the survey tools. Factor analysis upheld the construct validity of the instrument. Study variables had a Cronbach’s alpha coefficient of 0.60 thus the instruments were considered acceptable for explanatory purposes. Descriptive statistics and inferential statistics were used in the analysis of data and the results were presented by use of frequency tables, pie charts and graphs. The findings showed that respondents had low access level to capital assets and the ASM gold value chain is informally structured leading to low earnings and negative environmental impacts. Artisanal gold mining activities were disorderly in nature thereby preventing improved livelihoods and environmental conservation. The concentration levels of the selected heavy metals were: Cr, 0.4195 ppm, Zn, 0.5511 ppm, Cd, 0.2470 ppm, Fe, 3.4950 ppm and Pb, 0.6300 ppm in Nandi county and Cr, 0.1790 ppm; Zn 0.8470 ppm; Cd, 0.0050 ppm; Fe, 2.795 ppm; and Pb, 0.7400 ppm in West Pokot County. In conclusion respondents had low access levels to financial support, technology and unclear market channels. Therefore, study recommends improved access to capital assets for production, organized artisanal sector and a clear structured value chain
DETERMINANTS OF TAX COMPLIANCE AMONG SMALL AND MEDIUM ENTERPRISES IN NAKURU CENTRAL BUSINESS DISTRICT, KENYA
No full textFULL TEXTThe main problem facing tax authorities in any jurisdiction lies in persuading all tax payers to comply with obligations put on them by any tax system. Tax is an important stream of revenue for government’s development projects and therefore all efforts must be made by governments to ensure that it is accurately and efficiently collected so as to facilitate the government’s operations. Unfortunately, Kenya Revenue Authority does not collect all the taxes that it ought to. This is attributed to high levels of tax noncompliance. In Kenya, the biggest block of taxpayers on the business sector were Small and Medium Enterprises (SMEs) which were estimated to contribute about 45% of GDP in Kenya and they account for 85% of employment statistics. This study intended to identify the factors that influence tax compliance, specifically focusing on SME’s operating in Nakuru CBD. Small businesses played an important role in the tax system as it was the fastest growing sector in the Kenyan economy however non-compliance to the National tax system and County government tax systems continued to plague the sector. Guiding specific objectives were to determine; effects of tax education and knowledge, compliance costs, perceived opportunities to evade taxes and the penalties and fines imposed by tax authorities and how they affect tax compliance levels. To achieve the objectives, the study employed a survey design approach. A sample size of 212 SMES was picked as a representative of the population of 3506 licensed SMEs operating within the Nakuru CBD. To ensure that various diverse categories of taxpayers and business entities were included in the survey, stratified sampling technique was adopted. The data collection instruments were self-administered structured questionnaires. Data collected was analyzed using descriptive and inferential statistics with the aid of SPSS package. The findings of the study revealed that perceived opportunity for tax evasion has no statistically significant effect on tax compliance among SMEs ( =106.873, Prob> =0.254). There exist a statistically insignificant, negative relationship between perceived opportunity for tax evasion and tax compliance (rho= -0.026; p>0.05). Tax knowledge and education has no statistically significant effect on tax compliance among SMEs ( =90.735, Prob> =0.838), while there exist statistically insignificant, negative relationship between tax knowledge/education and tax compliance (rho= -0.031; p>0.05). It was established that fines and penalties has statistically significant effect on tax compliance among SMEs ( = 131.098, Prob> =0.043), while there exist statistically insignificant, negative relationship between fines/penalties and tax compliance (rho= -0.038, p>0.05). It was proved that tax compliance cost has no statistically significant effect on tax compliance among SMEs ( =110.474, Prob> =0.183). There exist a statistically insignificant, negative relationship between perceived opportunity for tax evasion and tax compliance (rho= 0.024; p>0.05). It is recommended that The Kenya revenue authority should ensure revenue streams are tracked by involving financial institutions since majority as well as enhance its manpower to ensure monitoring and tracking of all income reported by SME operators