While the rise of mobile/ digital payments in Kenya- popularly known as M-Pesa - and its impact on reducing poverty and helping marginalized groups improve their ability to manage risks have been written about extensively, there has been much less attention paid to more recent developments in the rise of digital credit for mobile banking users popularly known as “digital loans” or “digital credit”. Since the launch of the first digital loan product in Kenya - MShwari - by Safaricom and the Commercial Bank of Africa (CBA) in 2012, the country has experienced a significant increase in the size of the digital credit for mobile banking market, both in terms of providers and the total amounts of loans disbursed. For instance, as of 2018, a total of KES 230 billion have been disbursed by the M-Shwari platform alone. It is estimated that there were over fortynine other digital platforms in 2017. This brief focuses on youth borrowers as they have been identified as the major users of digital loans in the FinAccess 2019 study (FSD Kenya,2019). Furthermore, there have been concerns relating to late repayments, loan defaults and increase in the debt burden amongst the youth. This has been documented across all users of digital borrowers but rife among young users (ibid). Consequently, this study focused on understanding the reasons behind the over-indebtedness among the youth in Kenya. The research on which this policy brief is based is one of the first to estimate the levels of over-indebtedness and financial capabilities among youth digital loan borrowers in Kenya to give a detailed understanding of the sources of overindebtedness.

Organizations exist and operate as open system systems, continuously interacting with a dynamic and turbulent external environment. These interactions yield opportunities and threats, which are the strategic implications. The purpose of this study was to examine the strategic implications of devolved governments to the Local Authorities Pension Trust, and the management of the implications. The researcher used an interview guide to collect the necessary data, where he interviewed the top management in the organization, and applied content analysis tools to interpret it on the basis of strategic underpinnings. Evidence was adduced in the findings in support of the strategic implications of devolved governments culminating into opportunities and threats to the organization, including investments, markets, partnerships, resources and leadership opportunities and threats. It was also observed that the management of these strategic implications requires a multi approach, as there is no one sufficient criteria to harness all the opportunities and surmount every challenge faced by the organization. Strategic change, diversification, use of emergent strategy, strategic partnerships, and a holistic socio-economic products approach were the key methodologies used to manage the strategic implications. Thus, strategic implications are as inevitable as the organization’s interactions with the external environment, and as such organizations must be proactive in developing and sustaining appropriate responses for a guaranteed bright future. Nonetheless, further research is recommended to determine the factors affecting the implementation of pension schemes in county governments in Kenya, and also evaluate the relationship between pension schemes and devolved governments in Kenya.

This study sought to investigate the effect of selected accounting variables on stock liquidity for firm’s listed at the Nairobi Securities Exchange. In particular the study examined the effect of debt to equity ration on stock liquidity, the effect of dividend yield on stock liquidity, the effect of asset turnover ratio on stock liquidity and the effect of earnings per share on stock liquidity for firms listed at the Nairobi Securities Exchange. The study was addressing the gap of whether the selected accounting variables had an effect on the stock liquidity and whether one can use them to predict the stock liquidity at the bourse. The study used a descriptive design model. The population of this study comprised of all the listed firms at the Nairobi Securities Exchange from January 2008 to December 2012. The sample constituted all the firms that comprise the NSE 20 Share Index. Analysis was conducted through the use of regression analysis and ANOVA. The results indicated that accounting variables, as represented by the predictor variables only influenced ten percent of variations in stock liquidity as indicated by the adjusted R square statistic. The model thus only explained a small proportion of the variations in stock liquidity. The study also found debt to equity ratio to have a positive and sizeable effect on stock liquidity. Thus a shift in debt to equity ratio influences a same direction shift of the stock liquidity; dividend yield to have a positive but lesser effect on stock liquidity. It was further inferred that the effect of dividend yield on stock liquidity was found to be half that of debt to equity ratio. Asset turnover ratio was found to have a negative and but slightly larger relationship with stock liquidity. This means that stocks shade off their liquidity with increase in the asset turnover and earnings per share were also found to have a negative relationship with stock liquidity. The ANOVA test of significance on the four predictor variables only found earnings per share to be of significance in predicating stock liquidity in the model. On the basis of the findings, the study recommends that of the selected accounting variables of firms in the Nairobi Securities Exchange only earnings per share can be reliably used as a basis for projecting stock liquidity variations of listed firms. It is therefore suggested that factors and accounting variables be studied to determine those that can be reliably used to predict stock liquidity variations at the Nairobi Securities Exchange.

The squatter issue has been a problem in Kenya since the advent of colonialism. Successive governments have not been able to adequately deal with the problem. This study explores the limitation of the current legal framework in addressing the squatter problem in Kenya. It shows the extent to which the classification of land in the Constitution is an impediment in dealing with the problem. It also navigates through the National Land Commission which is a constitutional commission and other institutions and their viability in dealing with the problem at hand. It also explores the concept of indefeasible title which has failed to mitigate the problem. The study draws best practices and concludes by stating that the country should resolve the problem and ensure that there is equitable access to land and security of tenure for peace and development. It recommends changes to the Constitution and the select land laws to address limitations if the current squatter problem is to be effectively dealt with.

This research project was a study on the various growth strategies adopted by Small and Medium enterprises with specific focus to Oyugis town. Small and Medium enterprises (SMEs) make important contributions to economic and social development of any country. Consequently, the growth of the SME sector directly affects the performance of the nation. In all economies they constitute the vast majority of business establishments and they are usually responsible for the majority of employment opportunities created which account for one third to two thirds of the turnover of the private sector. The ability of SMEs to create, access and commercialize new knowledge on global markets is fundamental to their sustained competitiveness.The study used a descriptive research design. The study targeted SMEs operating in Oyugis Town, Homa bay County. The study selected a sample of 40 through simple random sampling technique. The study collected both primary data and secondary data where a questionnaire was used as source of data. The researcher administered the questionnaires individually to all respondents. Descriptive statistics was used to summarize the data. This included percentages, frequencies, bar graphs, pie charts and tabulations while qualitative analysis was done in prose. The study concluded that most of the business had embraced growth strategies such as marketing, pricing, market penetration among other strategies and such businesses have additional advantages such as increase in the total sales volume annum, increase in assets and remain competitive in the market. Likewise, the study concluded that that market penetration strategy is one of the growth strategies mostly adopted with most of organizations focusing on various aspects of market penetration. However, SMEs in the area under study are faced with various challenges such as stiff competition from large companies, changes in information technology and lack appropriate structures for dealing with SMEs in financial support, poor infrastructure, insecurity and the generalperception that they offer lower quality than bigger companies‟ hence dwindling SMEs potential even after the adoption of the growth strategies.

The aspect of employee satisfaction has now more than ever become more critical because of globalization of the workplace, incidents of organizations undertaking restructuring measures to maintain a leaner workforce and the need to build customer communities in a networked world. This study was motivated by the acknowledgment that retention of suitable levels of employee satisfaction and getting to know how to manage the factors that influence employee satisfaction leads to improved and increased organizational performance. For this reason, management has embraced the concept of employee motivation and satisfaction so as to retain the long term relationship with the employees in a cordial environment. The study was based on the fact that overall success of an organization depends on the commitment and engagement of the employed by understanding and promoting the factors that influence employees’ performance and adopting practices that improve flexibility of work schedules and quality of working life. The data for this study was collected using questionnaires from a sample of seventy employees representing about twenty nine percent of total employees in KWAL. The data was analyzed using descriptive measures, percentages and frequency distribution tables. From the research findings, relationships were found to exist between the survey independent variables with the dependent variables. Precisely the research established that factors that influence employee satisfaction include: Recognition, employee participation in management decisions; feedback, goals and on-job training. Besides, relationships were found to exist between the variables under study and the identified indicators per variable. The respective indicators of each of these variables were as follows: Recognition – Individual value, Performance, Gender equitability, Promotion, and competitive terms. Management – Teamwork, Decision making, Leadership skills, and Supervisors – subordinates relationships. Feedback – communication and Performance feedback. Goal indicated that the independent variables (i.e personal characteristics, job and role-related factors, professional commitment and HR practices) were stronger predictors of organizational commitment, job satisfaction and turnover intentions in professional employees than the technical employees. It was also noted that age, education, professional commitment, role overload, supervisory support, job security, promotional opportunities, distributive justice and participation in decision making were the most important predictors of employee satisfaction among employee. These results are significant for theory, policy and practice. Out of the insights of findings of the study, it is recommended that both Line and HR managers should try to understand factors and establish work-related practices that enhance the most ‘desirable’ component of employee commitment so as to promote employee performance and the organization as a whole.

The study focuses on the effects of diversification strategy on the performance of Kenyan Commercial state-owned corporations. It critically looks at whether or not these corporations use diversification strategy and then goes ahead to examine the relationship between diversification strategy and performance of the same corporations. The main areas explored include theories of diversification, types of diversification and organizational performance. To achieve this objective a cross-sectional survey study was conducted on 14 Kenyan commercial state-owned corporations including Kenya Meat Commission, Kenya Power and Lighting Company, Postal Corporation of Kenya, National Bank of Kenya and Kenya Reinsurance Corporation among others. Structured questionnaires were administered in the 14 selected Kenyan Commercial state-owned corporations. A sample of five employees from each selected state-owned corporation was interviewed resulting to total of 70 respondents. However, only 44 respondents filled and returned their questionnaires. Data was collected and the responses coded into labeled categories and thoroughly analyzed. Since this was a descriptive study, the data obtained was analyzed using statistical tools. Frequency distribution tables, mean scores and standard deviation were used to determine the relationship between diversification strategy and organizational performance in the Kenyan commercial state-owned corporations. The information was presented by use of tables and charts. According to the study, most of the organizations had been operating for more than ten years while most of the employees had worked for the same organization for more than six years. This means that the data collected was factual and credible for the study. This study revealed that diversification strategy has a positive relationship with performance in the Kenyan commercial state-owned corporations.

This study aimed at finding the causal relationship between stock market development and economic growth in Kenya. The development of a stock market is determined by a number of factors that include market capitalization, liquidity, regulation and trades. This paper sought to investigate the causal relation between stock market capitalization, turnover and economic growth. Previous studies done on African stock markets characterize them to be small and hindered by various factors such as thin trading and illiquidity. These studies also point out that countries with well developed financial markets have a better level of per capita income than those with less developed markets. This notion is also confirmed by theory which states that there is a big role that financial markets (stock markets) play in boosting economic activity through provision of long-term capital for projects and risk diversification. There has not been a lot of work done on causal relationship between stock market development and economic growth in Kenya. Few studies show that traditionally the economy follows the stock market in terms of capitalization and there is some what lack of consensus on liquidity. The Kenyan stock market has made various strides in improving some of the aspects that are deemed to result in the development of the stock market and this has seen the increase in the number of listed firms on the bourse and also the improvement of regulatory laws that govern trading and disclosures. This study therefore aims to use the Granger test for causality on stock market capitalization to GDP ratio which represents the size of growth of the stock market, the stock market turnover ratio and GDP growth in Kenya over the period 1993-2012. The results show a strong positive relationship between stock market development and economic growth stemming from a one sided causal relation from market capitalization to economic growth while market liquidity (stock market turnover ratio) showed a non causal effect to economic growth. With the results found it is recommended that measures that boost the size of the stock market should be implemented so as to raise economic activity as the stock market in Kenya is seen to be forward looking and a proponent of long run economic growth.

The role of teachers in improving the quality of education in the county is critical. Empowerment of teachers and performance of private secondary schools are key strategic initiatives. The objective of the study was to establish the extent of the relationship between teacher empowerment and performance of private secondary schools in Bomet County. A descriptive, cross-sectional census survey was used. The population of the study consisted of all the principals from the twelve private schools in Bomet County. Research used both primary and secondary data. Data was collected using semi structured questionnaires. It was then analyzed using descriptive statistics such as frequency distribution percentages, mean and standard deviations. Pearson correlation coefficient was used to test the strength and significance of the relationship between extent of teacher empowerment and performance of private secondary schools. The study found a strong positive relationship between empowerment of teachers and performance of private secondary schools. The two variables were found to have a correlation coefficient of 0.833; meaning that empowerment of teachers increases performance of schools. The study concludes that teachers should be given greater degree of flexibility in their performance of their duties so as increase school performance. It was recommended that principals should be trained on how to empower teachers so as to fully entrench the concept of empowerment in the education sector for better performance. The study suggested that it further studies should involve more school variables and teachers characteristics to achieve a more understanding on the concept of empowerment.

This study sought to find out the role of interpersonal communication in the use of family planning among women in Kajiado County, The objectives of the study were. Investigating the role of interpersonal communication in creating awareness about family planning use, examining various forms of interpersonal communication used in creating awareness about family planning use, examining the frequency of use of family planning services and investigating the level of knowledge about family planning methods among women in Kajiado County. The study used social cognitive theory and health belief model to explain behavior change in reproductive health .The research utilized descriptive design so as to be able to collect data to describe a specific behavior of subjects under study as it occurred in the environment. The study used a purposive sampling technique to deliberately select a specific population for study. The study had a target population of women with reproductive age between 15-45 years, with a sample size of thirty six respondents. Twenty-five respondents used in-depth interviews, two groups each with five members in the focused group discussions and one respondent for key informant interview were used in data collection. The findings of the study showed that, various communication channels such as broadcast media, print media and interpersonal communication were used in behavior change campaigns. However, various interpersonal communication channels were found to be the most effective method used by women in passing messages of contraceptive use. Although other communication channels were used, they were more commercial and advertorial unlike interpersonal communication which was more informative and educative as it employed dialogue among women.The study recommended that for adequate use of contraceptives and achieving of vision 2030 and MDGs, various stakeholders as the government, media and development partners should engage in effective communication on reproductive health. Further, spousal communication should be enhanced and the media should involve itself in intense education programmes on family planning.