Purpose: The study objective was to establish the effect of liquidity management on the financial performance of Teachers DT Saccos in Kenya and to evaluate the moderating effect of the size on liquidity management and financial performance of Teachers DT Saccos in Kenya. Methodology: This study adopted a post-positivist research paradigm to interpret the effect of liquidity management on the financial performance of deposit-taking Saccos in Kenya. The study adopted a descriptive, survey research design. The target population was 18 Saccos classified under teachers' based DT SACCOs according to SASRA records of December 2017 (SASRA, 2018). Census Methodology was used. The study used a data capture form that has been designed by the researcher to collect the data on the independent variables of liquidity management, moderator variable size and dependent variable which was DT Saccos financial Performance. Data were analysed using a combination of descriptive and inferential statistics with the statistical package STATA. Analysed data was presented using graphs and tables. Findings: The study established that there was a significant effect of capacity and purchased funds on the financial performance of Teachers DT Saccos. The study also established that cash position, total deposit, and core deposit had an insignificant effect on the financial performance of Teachers DT Saccos and that size of the Sacco affects the relationship between liquidity management and financial performance of Teachers DT Saccos. Unique contribution to theory, practice and policy:  The study recommended the development of a more robust liquidity monitoring policy as well as enhancement of the oversight on liquidity management practices. The study also recommended that Teachers DT Saccos should reduce the provisions of loan losses as well as their reliance on external borrowing. Further, the study recommended future studies using other factors influencing liquidity in the Teachers DT Saccos. Lastly, the study recommends a comparative study using other financial intermediaries with similar deposit and asset features such as Deposit Taking Micro Finance Institutions.

Purpose: The purpose of this study was to investigate the relationship between financial outreach and financial sustainability of deposit taking microfinance institutions in Nairobi County, Kenya. Methodology: The study employed a positivism research philosophy to determine the relationship between financial outreach and financial sustainability. A population of 13 licensed Deposit Taking Microfinance Institution was considered for this study. Census method was preferred due to small number of target population. A static Panel linear regression model with fixed effect was developed for both operating self-sufficiency and financial self-sufficiency. Secondary data was obtained from Central Bank of Kenya from audited financial statements. Inferential analysis method was employed using Stata statistics software then descriptive statistics tool such as mean and standard deviations were used. several diagnostic tests were conducted namely: normality, multicollinearity, heteroscedasticity, serial correlation, stationarity and Hausman. Results: The study found that number of active clients (breath of outreach) had statistically significant relationship; Average loan size (depth of outreach) had insignificant; age of firm (experience of institution) had insignificant relationship on financial sustainability of DTMFIs in Nairobi County, Kenya. The moderating effect between credit risk management (portfolio at risk) and breadth of outreach (number of active clients) was positive while portfolio at risk and experience of institution (age) and depth of outreach (average loan size) was negative on the relationship between financial outreach and (OSS and FSS) financial sustainability. Further, loan loss provision coverage had positive interaction with number of active clients, age, and average loan size on the relationship between financial outreach and   financial sustainability of DTMFIs in Nairobi County, Kenya. Unique contribution to theory, practice and policy: The study recommended that the government through Central Bank of Kenya should formulate policies that enhance savings with DTMFIs and therefore encourage financial inclusion.  Further, DTMFIs should engage in vigorous financial education to boost financial facilities’ awareness to boost the breadth of outreach and get involved in information collection and sharing to mitigate credit risk.

It is a requirement for Kenyan SACCOS to conform to regulations set by Sacco Societies Regulatory Authority (SASRA). Deposit Taking (DT) SACCOS are very instrumental towards the financial sector in serving an increasing number of rural and urban households. They are required to submit their statements of financial position, deposit returns statement, investments report, statement of liquidity and capital adequacy return reports. With varying degree of success, DT-SACCOS has invested in non-core business areas. This is especially true of DT-SACCOS which have liberalized their investment portfolios in the wake of competition from commercial banks. This study seeks to examine the impact of investment decisions on the financial performance of DT-SACCOS in Nairobi City County. The specific objectives of the study were to determine the effect of investment in real estate, lending to members for development, FOSA products and money and bond markets on the financial performance of DT-SACCOS in Nairobi City County. The significance of this research is to gain a better knowledge of the nature, breadth and extent to which investment decisions are to be of importance to DT-SACCOS performance. This examination is going to be based on agency, portfolio, liquidity preference and Tobin Q theory of investment. A causal research design of research and a target populace of 40 DT-SACCOS is going to be relied on. In terms of the sample size, all the 40 DT SACCOS are going to be studied. Secondary data matrices were used in collecting data from the finance managers. Adherence to the ethical considerations was also guaranteed at every stage. The study showed that: investment in real estate had an insignificant inverse effect (β= -257.42, p=0.369) on the financial performance of DT-SACCOS in Nairobi City County while investment in lending to members for development had significant positive effect (β=2141.85, p=0.044); investment in FOSA products had insignificant inverse effect (β= -45.86, p=0.617) while investment in money and bond markets had insignificant positive effect (β=547.61, p=0.255) on the financial performance of DT-SACCOS in Nairobi City County. To this effect, the study recommends that DT-SACCOS should increase their investment base on lending to members as they are basically aware of the formative intent of the co-operatives. This means that when more loans are issued to members of the co-operative, they first consider the gains they will get which emanates from these rational investment decisions for their development and hence the financial performance of the DT-SACCOS.

Purpose: The study is focused to determine the effects of capital structure on financial performance of small tiered deposit taking savings and credit cooperatives societies (DTS) in Nairobi County. Methodology used:  systematic review research design. It involved the evaluation of relevant studies that address the dependent and independent variables using specific criteria. Major findings and conclusions: The reviewed studies indicated that a conceptual framework gap exists. Empirical literature does not offer conclusive results on the nature of relationship between capital structure and financial performance. In addition, the studies were conducted for other prior periods and in other markets presenting a contextual gap. Unique contribution to theory, practice and policy: The study used the pecking order theory to put forth the preference of external funds (debt) over internal funds (equity), in making capital structure decisions, in addition to the trade-off theory, which indicated to mutual exclusivity of debt and equity financing decisions. The study will be beneficial to deposit taking SACCOs in Kenya to adopt capital structure strategies to sustain consistent superior financial performance. The models developed from this study will aid the regulatory institutions that regulate DTS in Kenya to develop policies on Capital structure. The study will add new knowledge on capital structure and financial performance of DTS

Purpose: To investigate the effect of liquidity risk on financial performance of DT-SACCOs in Kenya Materials and Methods: The study will adopt descriptive research design with data comprising of secondary, panel data which will be collected from the 175 DT-SACCOs for the period of five years between the years 2016-2020. Census sampling will be adopted where all the 175 DT-SACCOs will be considered in the analysis. Data will be collected from audited financial statements and other relevant reports submitted by the DT-SACCOs to SASRA. Results: Financial performance of DT-SACCOs has been unstable and fluctuating over the years as measured by ROA. In 2016, ROA was 2.45 percent which rose to 2.69 percent in 2017. In 2018, it dropped to 2.40 percent before rising to 2.60 percent in 2019 and again rising to 2.65 percent in 2020. One the other hand, liquid assets to total assets ratio has been reducing. In 2016 it was 12.49 percent, 11.85 percent in 2017, 11.77 percent in 2018, and 11.62 in 2019 only to rise to 14.43 in 2020 (SASRA Report, 2020). This reflects the oscillation in liquidity thereby posing liquidity risk. As reflected by the existing empirical literature, there is an inconsistency and consensus on the research findings on whether liquidity risk affects financial performance of DT-SACCOs in Kenya. Unique contribution to theory, Practice and Policy: Scholars and other researchers interested in the SACCO sub-sector will benefit from the findings of this study. The findings will add to the body of knowledge existing in this field and provide opportunities for further research in this area. Results from the study will be useful to SASRA and other policy-makers in the SACCO sub-sector to strengthen their regulatory framework as well as in development of a more robust liquidity monitoring policy and enhancement of liquidity management practices. The results will be beneficial to SACCO managers and the board members as it will highlight how profitability is affected by liquidity risk thereby developing more robust liquidity monitoring policy as well as enhancement of oversight on liquidity management practices. SACCO members may get an impetus to continuously hold the management accountable on the level of the profitability. This is so because the members stand to benefit most if liquidity risk is low. In addition, it may lead to members’ satisfaction and trust in the societies and hence increased share contribution.