SU+ Digital Repository

SU+ is an online repository for the preservation and promotion of assorted digital content at Strathmore University

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Conferences / Workshops / Seminars + 474
Documents and Proceedings of Conferences, Seminars, Workshops (and more) held at Strathmore University
Digital Archives 178
Assorted collections of resources covering various subject themes contributed by Faculty and Library Staff
Reports / Policies + 10
Public reports and policy documents
Research / Researchers / Publications 4693
Researcher Profiles / Conference presentations / Published research articles / Faculty and Corporate research outputs
Strathmore Heritage Collection 56
A digital chronicle of the History of the University presented through a mix of pictures, videos and digitized publications

Recent Submissions

Credit guarantee schemes and financial performance of women-owned Small Medium Enterprises in Nairobi, Kenya: moderating role of demographic characteristics
(Strathmore University, 2026) Orlanne, Olembe Meutchehe Nadege
Credit guarantee schemes have been widely implemented across many countries as a strategy to empower women-owned enterprises by easing their access to finance. This study sought to investigate the impact of credit guarantee schemes on the financial performance of women-owned SMEs in Nairobi, Kenya. The study specifically focuses on examining how access to credit guarantee loans, participation in credit guarantee supported capacity-building initiatives, and the availability of credit guarantee safety nets affect the financial performance of women-owned SMEs. Additionally, the study aims to assess the moderating effect of demographic characteristics in the relationship between credit guarantee schemes and the financial performance of women-owned SMEs in Nairobi. The study was grounded in financial intermediation theory and agency theory. A positivist research philosophy guided the study, and a combination of descriptive and correlational research designs was employed. The target population comprised 1,291 women-owned SMEs that have benefited from credit guarantee schemes, from which a sample of 306 enterprises were selected using Slovin’s formula. Primary data was collected through structured questionnaires and analysed using SPSS version 29. Descriptive statistical techniques, including means and standard deviations, alongside inferential statistical methods, were applied. Multiple linear regression analysis was utilized to determine the effect of credit guarantee loans, capacity-building interventions, and safety-net mechanisms on the financial performance of women-owned SMEs in Nairobi. The study found that credit guarantee loans, credit guarantee capacity building and credit guarantee safety nets have positive and significant effect on financial performance of women-owned SMEs in Nairobi. Demographic factors significantly moderate the effect of credit guarantee loans and credit guarantee safety nets on financial performance of women-owned SMEs but not with credit guarantee capacity building. The study concludes that credit guarantee schemes influence financial performance of women-owned SMEs. The study recommends that government agencies and financial institutions should expand and strengthen credit guarantee loan schemes targeted at women-owned SMEs to enhance access to affordable and unsecured credit. The study recommends that policymakers and implementing agencies should integrate and strengthen capacity-building programs as a mandatory component of all credit guarantee schemes targeting women-owned SMEs. Training should be continuous rather than one-off, and delivered through accessible platforms such as local business forums, digital learning, and mentorship programs. Further, the study recommends that policymakers and financial institutions should strengthen and institutionalize credit guarantee safety nets such as loan insurance schemes, risk-sharing mechanisms, repayment restructuring options, and emergency financial support systems.
Board-level drivers of climate disclosure readiness among firms listed on the Nairobi Securities Exchange: the moderating role of climate governance
(Strathmore University, 2026) Golo, Kame Isaac
The climate disclosure landscape is changing with climate related disclosure now evolving from voluntary to mandatory across various jurisdictions. In Kenya, transition is underway with mandatory adoption of the International Sustainability Standards Board (ISSB) Sustainability Disclosure Standards, IFRS S1 and IFRS S2 scheduled for January 2027 for Public Interest Entities (PIEs) which include publicly traded companies. This study evaluated the readiness of firms listed on the Nairobi Securities Exchange (NSE) to comply with the impending climate disclosure, IFRS S2, and sought to understand the board-level drivers that shape readiness. Specifically, the study explored the influence of board factors, board size, independence, and gender diversity, on firm readiness and examined the moderating role of climate governance in this relationship. Past studies have discovered mixed findings on the determinants of climate disclosure readiness, highlighting the need for further investigation. This study extends existing literature by including climate governance as a moderator, offering more nuanced understanding of the relationship between board attributes and climate disclosure. The study was grounded in Resource Dependence, Upper Echelons, Agency, and Legitimacy Theories. The study adopted a positivist research philosophy, undertaking content analysis of annual reports and sustainability reports for the period 2021 to 2024 of 55 firms listed on the NSE. The study conducted quantitative statistical analysis, including descriptive analysis and Ordinary Least Squares (OLS) regression to examine correlation between dependent and independent variables. The study further conducted inferential robustness across pooled OLS, random effects mixed modelling, and within-firm fixed effects with Hausman specification selecting fixed effects as the preferred specification. The study found that climate governance is a key driver of climate disclosure readiness. The moderating effect of climate governance on board size and independence were determined to be insignificant. The interaction with board gender diversity on the other had showed significant but negative effect implying that the influence of female directors on board was more pronounced when formal climate governance mechanisms were weak. The findings of this research demonstrate that firms need to invest in formal climate governance mechanisms to strengthen compliance readiness. Key words: Board-level drivers, Climate disclosure, Climate governance, Content analysis, Disclosure readiness, ISSB IFRS, OLS regression, Random effects, Fixed effects
Factors influencing the financial sustainability of carbon projects in Kenya: the moderating role of institutional capacity
(Strathmore University, 2026) Njenga, Alice Wanja
Climate finance has increasingly become a critical tool for supporting low-carbon transitions and climate-resilient development, with carbon finance playing a central role through the generation and trade of carbon credits. However, despite the growing adoption of carbon projects in Kenya, their financial sustainability remains a significant challenge due to economic constraints, socio-environmental dynamics, technical limitations, and institutional gaps. The goal of this study was to examine the factors influencing the financial sustainability of carbon projects in Kenya. Specifically, the study sought to determine how economic, socio-environmental, and technical factors affect financial sustainability, and how institutional capacity moderates the relationship between these factors and the financial sustainability of carbon projects in Kenya. The study was grounded in the resource-based view theory, the stakeholder theory, and institutional theory, which collectively explain how internal resources and capabilities, stakeholder relationships, and institutional structures influence the long-term sustainability of carbon projects. A descriptive cross-sectional research design was employed, and primary data was collected using structured questionnaires administered to project managers, financial officers, and monitoring and evaluation officers from Gold Standard-certified carbon projects in Kenya. Data was analyzed using descriptive statistics, Pearson correlation, and multiple linear regression analysis to determine relationships among variables and test hypotheses. The correlation analysis revealed that all independent variables were positively and significantly associated with financial sustainability. Economic factors showed the strongest relationship, followed by socio-environmental factors, while technical factors exhibited a moderate but significant relationship. These findings indicate that strong financial structures, community engagement, and technical capacity are all associated with improved financial sustainability of carbon projects. The regression results further indicated that the independent variables significantly influence financial sustainability. In the non-moderated model, economic factors had the strongest and statistically significant positive effect, followed by socio-environmental factors, while technical factors was not statistically significant. The moderated regression results indicated that institutional capacity does not have a statistically significant moderating effect on the relationship between the independent variables and financial sustainability, as all interaction terms were insignificant. The study concludes that the financial sustainability of carbon projects in Kenya is primarily driven by economic factors, supported by socio-environmental dynamics, while technical factors play a complementary role. Additionally, institutional capacity does not moderate this relationship. The study recommends that project developers strengthen financial management and funding diversification, enhance community engagement, and improve institutional frameworks to support sustainable carbon project development.” Keywords: Carbon Finance, Financial Sustainability, Institutional Capacity, Socio- Environmental Factors, Technical Factors, Kenya.
Fintech financing and financial performance of Micro, Small and Medium Enterprises in Nairobi, Kenya
(Strathmore University, 2026) Timothy, Mutuku Alfred
Micro, Small and Medium Enterprises (MSMEs) have increasingly been regarded as the drivers of socioeconomic growth specifically among emerging economies through job creation and sustained economic development. Despite their critical role, financial performance of MSMEs remain a concern. It is estimated that nearly half of MSMEs shut down within five years of operation. Similarly, half a million of MSMEs terminate their operations on annual basis (Kenya National Bureau of Statistics, 2023). While fintech is broad, this study narrows to effect of fintech financing with focus to mobile money, peer-to-peer lending, and crowdfunding on MSME financial performance. Furthermore, it integrates financial literacy as a moderating variable, an aspect that has received limited empirical attention within the Kenyan MSME context despite growing evidence of its importance in enhancing fintech outcomes. Therefore, this study examines the effect of fintech on financial performance of MSMEs operating in Nairobi City. It specifically examined the influence of mobile money, peer-to-peer lending and crowdfunding on MSMEs’ financial performance in Nairobi City and how financial literacy weaken or strengthen this relationship. In terms of theoretical underpinning, this research was anchored by financial intermediation theory and technological acceptance models. The study was anchored on positivism research philosophy. The study employed cross sectional research design. The study only targeted licensed MSMEs in Nairobi and exclude unlicensed ones. There are a total of 224,593 licensed MSMEs in Nairobi City. The unit of observation were the MSME owners/operators. The study sample size was 400 MSMEs calculated by employing Yamane formula. Stratified random sampling was used to select 400 MSME owners/operators across six regions within Nairobi. Data was analyzed by the use of descriptive and inferential statistics. The descriptive statistics involved mean and standard deviation while inferential entailed correlation and Ordinal regression. The study established that the regression coefficient of crowd fund has a positive and significant effect on financial performance within the context of MSMEs. The regression result indicated that peer to peer lending has positive and significant effect on financial performance of MSMEs. Mobile money services yielded a positive and significant effect on financial performance of MSMEs. The study also established that financial literacy significantly and positively moderate the nexus between Fintech and financial performance of MSMEs. The study concluded that mobile money services, peer to peer lending and crowd fund technology are significant predictors of financial performance. Moreover, the relationship between financial technology and financial performance is strengthened by financial literacy. The study recommends training and mentorship as the capacity building strategy of players within the sector so that they are imparted with necessary skills and knowledge required to operate fintech tools and overall knowledge of financial management. Strengthening regulatory framework to enhance trust among the players. Key words: Fintech, mobile money, P2P lending, crowdfunding, financial performance, MSMEs, Kenya
Relationship between sustainable practices and non-financial performance of commercial banks in Nairobi Metropolitan
(Strathmore University, 2026) Wairimu, Christabel Njeri
The banking sector has become highly conscious of sustainability, with institutions seeking to balance financial, environmental, social, and economic aspects. This research established the relationship between sustainability practices and non-financial performance (NFP) among commercial banks in Nairobi Metropolitan. Although sustainability has gained attention recently, prior research mainly concentrated on financial outcomes, with limited evidence on non-financial returns including customer loyalty, corporate image, and service quality. This research addressed this gap by examining sustainability practices and their impact on NFP indicators. The study employed a convergent parallel mixed-methods approach. Quantitative data were collected from 148 bank customers through structured questionnaires (98.7% response rate), while qualitative insights were gathered from 15 bank executives and sustainability officers through Key Informant Interviews. The study included all 38 commercial banks across three tiers. Multiple regression analysis assessed statistical relationships, while thematic analysis examined qualitative data. The combined regression model incorporating economic, social, and environmental sustainability dimensions explained 51.2% of variance in non-financial performance (R²=0.512, p=0.000). Social sustainability practices demonstrated the strongest effect (β=0.459, p = 0.000), followed by economic sustainability (β=0.325, p=0.000) and environmental sustainability (β=0.237, p=0.000). Qualitative findings revealed implementation challenges including resource constraints, varying customer awareness levels, and tensions between commercially-driven versus altruistic sustainability programs. The research makes three key contributions. First, it provides empirical evidence from an African banking context, addressing the geographical gap in sustainability-performance literature. Second, it demonstrates that disaggregated sustainability dimensions have differential effects on non-financial performance. Third, through mixed-methods integration, it reveals that successful sustainability implementation requires balancing commercial viability with stakeholder expectations in emerging market contexts. Important limitations include the cross-sectional design constraining causal inference, highly educated sample (97.9% university-level) limiting generalizability, reliance on perceptual measures potentially introducing bias, and geographic focus on Nairobi Metropolitan limiting rural applicability. The study concludes that sustainability practices significantly influence non-financial performance in Kenyan commercial banks, with integrated approaches yielding superior outcomes. Key recommendations include strengthening pricing transparency within economic sustainability frameworks, developing comprehensive diversity and inclusion roadmaps for social sustainability, and implementing formal operational environmental management protocols. Banks should develop integrated sustainability management frameworks aligning economic, social, and environmental functions through shared objectives to optimize non-financial performance outcomes.