The Effects of microfinance products on financial inclusion of residents of Kibera Slums in Nairobi County

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dc.contributor.authorMundia, J.
dc.date.accessioned2024-10-24T14:30:00Z
dc.date.available2024-10-24T14:30:00Z
dc.date.issued2024
dc.descriptionFull - text thesis
dc.description.abstractMotivated by the pressing need to address financial exclusion among marginalized populations, particularly in urban slums like Kibera, the research aimed to assess how microfinance interventions contribute to enhancing access to financial services and promoting economic empowerment within this community. Specifically, the study specific objectives were to establish the effect of micro-credit, micro-savings and micro-insurance on financial inclusion in the informal settlements, Nairobi County, Kenya. The study was underpinned by three theories namely asymmetric information theory, social capital theory, and modern economic theory. The study used descriptive research design and a structured questionnaire in data collection. The study sample comprised of 384 households from Kibera slum in September 2023. Descriptive statistics and regression analysis techniques were used in data analysis. The study established that the micro-credit, micro-savings and micro-insurance positively contributes to the financial inclusion in the informal settlements in Nairobi County, Kenya. Given the positive influence of micro-credit on financial inclusion, policymakers and financial institutions in Nairobi County should consider actively promoting and supporting micro-credit programs. This could involve creating awareness, providing financial literacy programs, and easing access to micro-credit for individuals in informal settlements. The study established micro-saving as a significant predictor of financial inclusion and demonstrating its substantial impact on the respondents. To further enhance financial inclusion, efforts should be made to facilitate and promote micro- saving initiatives. Recognizing the positive contribution of micro-insurance to financial inclusion there is a need to expand and improve the accessibility of micro-insurance services in informal settlements. Policymakers, insurance providers, and NGOs can collaborate to design and implement affordable and tailored micro-insurance products that cater to the specific needs of this demographic. Key Words: Microfinance, financial products, financial intermediaries, small and micro enterprises, financial inclusion.
dc.identifier.citationMundia, J. (2024). The Effects of microfinance products on financial inclusion of residents of Kibera Slums in Nairobi County [Strathmore University]. http://hdl.handle.net/11071/15578
dc.identifier.urihttp://hdl.handle.net/11071/15578
dc.language.isoen
dc.publisherStrathmore University
dc.titleThe Effects of microfinance products on financial inclusion of residents of Kibera Slums in Nairobi County
dc.typeThesis
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MCOM Theses and Dissertations (2024)