Article 181 of the Constitution of Kenya 2010 provides for several grounds under which a county governor can be removed from office. This includes; a gross violation of the Constitution, where there are serious reasons to believe that the governor has committed a crime; abuse of office or gross misconduct; physical or mental incapacity to perform the functions of the office of county Governors. The process can emanate from the national assembly within the confines of legislation by parliament which stipulates the procedure of removal. This study appraises the framework for the impeachment process initiated by the Members of the County Assemblies (MCA‟s, in particular, the legality and fairness of their actions. Using constitutional theories, theories of justice and rule of law principles, the research hopes to identify the immediate challenges and future barriers in operationalizing this provision. In light of the foregoing, this study takes the view that, as Kenya proceeds down the devolution path, it may be well worth reflecting on other countries‟ experiences with this form of government. Given South Africa‟s experience over the past 20 years, Kenya may want to consider some of the hard lessons that South Africa has learnt, and also train its system along with the South African one, albeit with moderation. This, together with the experience of the US and Nigeria, can solve the going subjective impeachments in Kenya

Globalization and advancement of the technology compels business organizations to be innovative in order to strive in the market and maintain market share as well as penetrating to the new market. In the past decade’s most of the organization utilized internal resources to survive and maintain competitiveness as it is suggested in closed innovation model. Further, other Scholar suggested that for any organization to be successful and maintain its market share they have to embrace open innovation model which encourages on utilization of both internal and external resources for efficiency and profitability. Currently for a firm to survive in the market they have to focus on innovation strategies. Innovations enables organizations to produce and offer goods and services of high quality, therefore ability of the organization to innovate is significant for an organization to maintain competitive advantage. The objective of this study was to establish the impact of innovation in organization performance a specific case of Tanzania Revenue Authority. The study adopted case study research design and researcher applied both qualitative and quantitative approach to establish the effect of innovation in TRA performance. Secondary data were collected from the records of the organization understudy and other institutions such as Bank of Tanzania, African development Bank and International Monetary Fund; analyses was conducted and establish the impacts of innovation on organization performance at different periods since it was incepted. Development of various systems such as iTAX and TIN in DRD, EFDs in Large taxpayers department, ASYCUDA and TANCIS in Customs and Excise department collectively makes tax administration in TRA efficient and costs effective, reduces processing and clearance time of the goods, reach taxpayers in the remote areas and enhance convenience through online transactions, lessens corruption by avoiding in person transactions. All these benefits derived as a result of process innovation within TRA proves that innovation is indispensable to an organization performance. Findings of this study also revealed that most of the process innovation implemented by TRA considers the ability of users. This work focused on process innovation, other researchers may encompass their research on other factors which affect TRA performance; finally this research may be replicated in other government institutions to establish whether they are affected by innovation in the same way as TRA.

The government of Kenya has been making commendable efforts towards providing affordable energy to its citizens. However, the cost of electricity has been increasing despite reform programmes aimed at reducing costs. This thesis examined some of the critical considerations in the determination of electricity tariffs. Three essays were undertaken. The first essay examined the demand for electricity and made forecasts with a view to ascertain if the official demand forecast was realistic. Using autoregressive distributed lag (ARDL) model and time series data from 1985-2016 sourced from various sources including Kenya Power and Lighting Company (KPLC) annual reports, Kenya National Bureau of Statistics Economic Surveys and Statistical Abstracts, World Bank statistics and Kenya Electricity Generating Company hydro data. The findings showed that the official demand forecast was overstated and encouraged overinvestment in the generation of electricity. Overinvestment pushes the costs of electricity supply increasing the tariffs. Commercial and industrial consumers were projected to continue being the largest consumers of electricity. The finding indicated the need for the Ministry of Energy to revisit the planned investments and prioritize projects that address supply side constraints. The potential increase in costs arising from overinvestment can be prevented by signing take and pay power purchase agreements instead of take or pay removing the current protection offered to the generators. The second essay investigated the efficiency of thermal power plants. Using stochastic frontier analysis and data for 27 thermal generating power plants for the period July 2015 to December 2017 sourced from the power plants and the Energy Regulatory Commission, the study found the plants to be inefficient. Fuel was found to be a significant factor of production. Grid connected plants were found to be more efficient than isolated power plants. The inefficiency largely stemmed from age and ownership. The Malmquist data envelope analysis, however, found improved performance over the study period. To increase efficiency in generation, there is need for the regulator to revisit the methodology used for fuel oil cost adjustments. Ministry of Energy should also encourage private XVI investments in generation and extend the grid to the isolated areas. The third essay sought to explain the electricity tariffs by exploring the drivers of KPLC tariffs. Since the tariffs are set using the cost of service regulation, KPLC cost data for the period 1986-2016 was used for the analysis. Average cost function of KPLC was estimated using ARDL model. The findings indicated output, system losses, system load factor and price of labour to be the drivers of average costs. System losses and price of labour were found to be increasing the average cost. The finding indicated the need for the regulator to set stringent loss reduction targets for KPLC. The Ministry of Energy should facilitate competition in the commercial retailing functions of KPLC as proposed in the Energy Act, 2019 to reduce the commercial losses associated with theft, corruption, billing and metering errors. The regulator should also tie allowed staff costs to improved customer service standards as a way of managing the cost of labour. KPLC was found to be enjoying economies of scale and economies of output density, this indicates the need for the electricity market to retain transmission and distribution of power as a natural monopoly. The Ministry of Energy should also continue with interventions and incentives that increase the system load factor such as time of use tariffs. Encouraging industrial parks and special economic zones through special tariffs could also increase the energy consumption and load factor.

Micro finance services have attracted attention among scholars because it has been widely acknowledged as a poverty alleviation policy as well as program. Traditionally, larger financial institutions have been reluctant to advance financial services to the poor because of the relatively high risks involved resulting into a financial gap. Majority of the MSEs do face challenges especially in regard to access to financial services from larger financial institutions including commercial banks. Because of their relative small sizes, most commercial banks consider lending to MSEs as being too risky. The implication of this decision to lend to MSEs by banks is that the operations of most of them are constrained hence poor performance. Thus, most of the MSEs have turned to MFIs as financial partners which has piled up pressure on MFIs for seeking funds. The present inquiry focused on micro finance services and their link with the ability of the Micro-Small Enterprises (MSEs) in Kenya to financially perform. Specifically, the study looked at the products and services that MFIs offer among MSEs and the link between them with the ability of the firms to perform financially. Descriptive survey design was adopted targeting 100 MSEs. Census was used with gathering of information from primary and auxiliary sources. The processing of the gathered data was done aided by SPSS tool using frequencies and percentages. Inferential statistics covering correlation and regression analysis were conducted prior to diagnostic tests. The study noted that Micro finance Institutions offered loan/credit services and products, saving services and products and insurance services to MSEs. The microfinance services offered to MSEs were seen to have a postive effect and relationship with financial performance as controlled by their sizes. The study concluded that MFIs play an important intermediation role in the economy by availing credit facilities to small business that are used to enhance their financial performance. The study recommended that marketing managers of the MFIs should expand the product offering to bring in more new products that are customized for small businesses. The marketing managers of the MFIs in Kenya should invest heavily in promotion and advertisement of loan and insurance product that they offer customers. The finance managers and owners of the MSEs in Nairobi to seek for more credit and loan facilities from MFIs and ensure that the amount is utilized for the purpose of enhancing financial performance of their enterprise. The risk managers of the MSEs operating in Nairobi to increase underwriting of risks with MFIs as this enhances financial performance of their enterprises especially in the event of a calamity. The CBK should formulate stable policies that promote and support the microfinance services and products. The study was limited to a small sample size that affected generalization of the results to other non MSEs firms. The study recommend further studies to be done to bring out the services and products offered by deposit taking Savings and Credit Cooperatives (SACCOs) as they link with financial performance of the small firms. Future studies can also be conducted by singling out firms specifically in the SME category.

The study sought to determine the effect of Key Account Management Orientation and organization structure of Kenya’s Pharmaceutical Industry. The research used a descriptive research design to achieve the objective. For this study, the population included 38 licensed pharmaceutical firms operating in Nairobi, Kenya. This study utilized primary data in the collection of data. Questionnaire method was suitable for collecting and it contained closed ended questions. The questionnaires were administered to either Head of customer care or relationship manager or an equivalent person at the firm. The data collected was later scrutinized through descriptive statistics and inferential statistics. The analysis outcome revealed that KAMO and organization structure had a positive relationship as exhibited by the correlation coefficient of 0.689. The model summary indicated that R-square was 0.475. This means that 47.5% of the variation. In organization structure was due to key account management orientation. This results also imply that 52.5% of the variation in organization structure was either due to error or other factors that were not investigated by the model. The level of significance for the model is 0.001. This value is less than p value 0.05. This connotes to the importance of the model in terms of statistics to predict organization structure based on key account management orientation. Key account management orientation had a beta value of 0.376. This implied that for every unit increase in KAMO, organization structure went up by a value of 0.376. The study recommends that the pharmaceutical industry in Kenya should practice key account management orientation in order to enhance their organization structure since KAMO was found to have an affirmative impact on the industry corporate structure. The research also recommends that the industry maps out specifically what aspects of KAMO are relevant to their industry and invest heavily into those aspects so as to see tangible improvement in their organization structure. ..

Oral health plays a vital part of the general health of an individual. Poor oral hygiene status lowers the quality of life of all individuals alike as it affects aspects of their lives such as chewing, speech and their facial appearance. According to the 2015 STEPS survey, 32 per cent of individuals reported to have pain in the oral region in the past 1 year in Kenya. However, only 11 per cent visited a dentist. The aim of the study was to examine the socio-economic determinants factors of utilization of oral healthcare services in Kenya. The study estimated a logit model and analyzed data from the 2015 STEPS survey. The findings indicate that the presence of oral pain, education and poverty, were the most significant determinants of oral health services utilization. Individuals who had pain, who had higher levels of education and those who belonged to rich wealth quintiles were more likely to use oral health care services. Investment in promotive and preventive oral healthcare services can aid in raising awareness on when to seek care leading to improvements in individuals’ oral health status. There is also need to subsidize the cost of oral health care services.

The agricultural establishments registered at the NSE have been experiencing variation in stock prices at the NSE. Despite majority of the listed firms in the agricultural sector displaying very high stock prices, the firms have showed falling stock prices in the last five years compared to firms from other sectors. The evidence of the effects of days in a week anomaly in the stock markets with the effect being empirically inconclusive. This investigation sought to determine the day of the week (DOTW) influence on stock prices of listed agriculture firms in Kenya. This investigation utilized descriptive research design. The target population was seven agricultural establishments registered at the NSE in the year 2019. Secondary data for the daily stock prices from 1st January 2019 to 31st December 2019 for each of the 5 days of the week was used. Average monthly data was utilized in this investigation. The data was sourced by a data collection schedule. Descriptive statistics and linear regression were utilized for analysis. The research employed dummy variable regression to establish the DOTW effect. The significance of the investigation was tested with F-test. The investigation found that Monday had the lowest stock prices among the listed agricultural firms in Kenya for the period between January and December 2019. Wednesday showed the highest stock price of listed firms in Kenya. Thursday was the most volatile day for agricultural stock prices at the NSE. The investigation recommends that the investors to avoid basing their investment on the DOTW. Nairobi security exchange ought to undertake an investigation to ascertain why Monday had the lowest stock price compared to other days. It ought to similarly establish why Thursday had the greatest volatility of the market. Though the Wednesday stock price effect is not significant, investors can consider selling their shares on the day to maximize returns through high prices. The investigation was limited by the size of the population where agricultural firms are few. Monthly data was used to increase the data points. secondary data are also general and tends to be historical. Most current data were used (2019). This investigation recommends a similar investigation using other listed firms like manufacturing firms to establish whether there is a DOTW effect on the share prices of quoted establishments.

In a short term, low interest rates minimize credit risk since refinancing costs are lowered and the net worth of borrowers is increased, which decreases credit risk of outstanding bank loans. Because of the number of outstanding loans being higher in comparison of that of new loans, the low interest rates therefore only make the portfolio less risky only in the short term. The objective of the study was to establish the effect of the lending interest rate on the default rate of Kenyan Micro-Finance Institutions. In addition it is focused on review of the growing empirical and theoretical studies which have endeavoured to examine the range of magnitude and effects of lending interest rates on the default rate of Micro-Finance Institutions. The target population was all the 13 licensed MFIs. Secondary sources of data were employed. Panel data was utilized, data was collected for several units of analysis over a varying time periods. The research employed inferential statistics, which included correlation analysis and panel multiple linear regression equation with the technique of estimation being Ordinary Least Squares (OLS) so as to establish the relationship of the lending interest rates and by extension the control variables, collateral and derivatives, and the default rates of MFIs. The study findings were that lending interest rates have a significant association and relationship with default rate. Lending interest rate has a significant negative relationship with default rate. The study made recommendations to policy makers like the National Treasury and CBK to regulate the interest rates in order to mitigate default rates. Recommendations were also made to MFIs, and by extension, other financial institutions, to utilize interest rates in order to mitigate default rates by customers. Further recommendations were that particular focus should be made on the lending interest rates in order to mitigate default rates.

The stock markets play a vital role in the development of the economy in a country by acting as a platform to raise business capital, mobilize savings, control the management of firms, and to raise government capital. The performance of the markets is influenced by different factors among them being macroeconomic factors. This study sought to determine the effects of the volatility of selected macro-economic factors on the stock market returns in Kenya, with a key focus on interest and foreign exchange rate volatility. The study used the NSE 20 share index to determine the stock market returns, the interbank rate to proxy interest rate and the USD/KES for the foreign exchange rate. Panel data from January 2009 to December 2018 was used and daily observations were applied. The study was based on the Markov switching model. The results indicated that during the period under study, there were three regimes characterized as low, medium and high volatility regimes. The longest regime was the moderate volatility regime followed by the high volatility regime. The shortest regime was the low volatility regime. During the high volatility regime, the stock returns followed a random walk with little levels of predictability. In the moderate volatility regime, the historical performance was positively correlated to the stock market returns, while there was no significant effect of the volatility of interest and foreign exchange rates on the stock market returns. The period of low volatility was characterized with significant positive and negative effects of the foreign exchange and the interest rates, and the historical performance on the stock market returns. Based on the results, the study found out that the effects of the volatility of the interest rate and foreign exchange rate differ depending on the distinctive volatility regimes.

Globally, investors are risk averse hence; they implement strategies aimed at minimizing risk at a given level of returns. Logically, investors would prefer lower risk investments projects given the level of returns. “The study sought to examine the effect of portfolio diversification on financial performance of investment firms listed at the NSE, Kenya. The study adopted descriptive research design. The target population included all 5 listed investment firms as at 31st December 2019. The study was therefore a census survey of all listed investment firms that have been in operation during the study period from 2010 to 2019. The study extracted annual secondary data from audited financial statements and other published data of the concerned listed investment firms. The data was collected for ten years beginning 2010 to 2019. The extracted data was recorded on data collection sheets. Diagnostic tests namely test for normality, autocorrelation and multicollinearity, serial correlation and heteroscedasticity were conducted. The purpose of the tests was to ensure that the regression model adopted is robust. The data was checked for completeness and then keyed into excel 2016. The variables were then generated using different functions in excel. The organized data from excel were exported to STATA version 14 for descriptive and inferential analysis. Descriptive statistics involved frequencies, percentages, mean and standard deviation while inferential statistics comprised of pairwise correlation and multiple regression analysis. Regression analysis aid in establishing the effect of portfolio diversification on financial performance of listed investment firms. The study utilized OLS regression models as shown in equation (1) and (2). The significance of the effect of explanatory variables were conducted at 95% confidence level. The Pearson correlation analysis revealed that the correlation between investment portfolio diversification, firm size, liquidity and financial performance was positive. Analysis of variances showed that investment portfolio diversification, firm size and liquidity had a significant effect on financial performance of financial performance among investment firms listed at the NSE Kenya. Additionally, the regression coefficient revealed that investment portfolio diversification had a positive and significant effect on financial performance of investment firms listed at the NSE Kenya. Firm size had a positive and significant effect on financial performance of investment firms listed at the NSE Kenya. Additionally, liquidity had a positive but statistically insignificant effect on financial performance of investment firms listed at the NSE Kenya. Based on study findings regarding the effect of investment portfolio diversification, the study concludes that the positive effect of investment portfolio diversification on financial performance in model equations (1) & (2) implies that improvement in portfolio diversification leads to improving financial performance of the listed investment firms. Regarding the effect of firm size on financial performance, the study concludes that the positive effect of firm size on financial performance implies that increasing firm size in terms of total assets, leads to improvement of financial performance of listed investment firms. Finally, regarding the effect liquidity on financial performance of listed investment firms in Kenya, the study concludes that the positive effect of liquidity on financial performance can be explained by the fact that firms that have adequate liquidity are able to settle maturing obligation without fail hence. The study makes recommendations. Regarding investment portfolio diversification, the study recommends to management of listed investment firms to diversify their investment portfolio. The firms should broaden their portfolio by addition more assets classes to their portfolios. The study also recommends to capital market authority to regulate and encourage investment of listed investment firms to diversify their investment portfolios. The study recommends to management of listed investment firms to improve their assets through additional investment. The listed investment firms should offer more common stock to the current and prospective shareholders to boost their capital.”