PurposeThe purpose of this study was to investigate the effect of financial literacy on personal retirement planning in Bukavu city in the Democratic Republic of the Congo (DRC), which is a Sub-Saharan underdeveloped country with a weak pension and social security system.Design/methodology/approachThis study used a structural equation modeling and a sample of 361 public sector employees selected in Bukavu city in the DRC. The data were collected through a survey questionnaire, and the data were analyzed using SPSS and SMART PLS software.FindingsThe results from the study revealed that financial literacy has a significant impact on personal retirement planning. Two constructs of financial literacy, respectively, computation capability and financial knowledge were found to have a significant impact on personal retirement planning, while financial education and attitudes toward financial products were found not significant in explaining personal retirement planning.Practical implicationsThe findings from this study can be used by policy makers in the DRC to design socioeconomic programs, aiming to increase the level of financial literacy in the country and awareness on personal retirement planning.Originality/valueThe reviewed studies were based mostly on developed countries, and countries were the social security system works effectively. We have not found a study on financial literacy and retirement planning that has been conducted in the DRC, which is a country with specific characteristics compared to developed countries.

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Performance of firms is predominantly contingent on the deliberate decisions cautiously made and executed by the owners therefore a linkage exists between ownership structure and performance financially. Owners are part of a segment that makes decisions by the virtue of their relationship with the firm. Therefore, the question of what maybe the most efficient ownership structure is relevant. Through the period 2014 to 2018, there was an increase in the listed firms that issued profit warnings with others like Kenya Airways and Uchumi Supermarket running into huge financial losses. This research aims at determining the relationship between structure of ownership on company’s performance financially and are anchored on two explicit objectives: to ascertain whether institutional local ownership impact on performance and to evaluate whether managerial ownership impact on performance. This exploration is built on, stewardship, Agency and stakeholder theories which expound an association of structure of ownership and performance financially of all Kenyan listed firmsthrough2014 to 2018. The examination adopts a causal research design. A census of the 60 listed firms is drawn in this study. Secondary data relating to ownership structure and return on assets is collected using secondary data collection sheet. Panel regression model is utilised to ascertain the relationship between the predictor and dependent variables. The effect of Institutional local ownership on Return on assets is significant as shown by the p values of 0.007. Managerial ownership is found to have an insignificant impact on Return on assets as shown by the p values of 0. 611.The study is recommending that in pursuit for high Return on assets firm can come up with incentives to encourage institutions to invest more in the company to raise performance.

Inappropriate credit policies, as well as inadequate, limited institutional capacity by Kenya's financial sector, led to several of the banking institutions collapsing over what was termed as poor management of credit risks which resulted to increased amounts of loans that were not being serviced. The main aim of the research project was to establish the effects of internal controls on credit risk among the banks listed in NSE. The distinctive goals included to find out the influence of internal control, assessing risk ,activities in control and monitoring among banking organizations listed in NSE. The study was guided by capital asset pricing model, agency theory and modern portfolio theory. The study adopted a casual descriptive research design. The target population encompassed the eleven listed banks in Nairobi Securities Exchange where cencus was done. Both primary and secondary data were collected. The questionnaires were applied to gather data. The diagnostic tests include multicollinearity and normality. Data was evaluated using both descriptive and inferential statistics using SPSS. The findings show that there is a positive and significant link between monitoring and credit risk. The study found that assessment of the risk has a significant way on credit risk and that internal controls that are not strong such as poor ethical values have stimulated the involvement to fraud that leads to income loss and misuse of the income received. The study concluded that risk assessment P=.000 < 0.05, control activities P=.000 < 0.05, monitoring and control environment P=.001 < 0.05 have a significant effect on credit risk among commercial banks listed in NSE. The study recommends that banks should implement proper risk assessment to guide their operations and also implement efficient control activities to guide their operations. Further, the study recommends that banks’ monitoring approaches should be guided towards effective tasks and achieving the goals of the organization. In regard to propositions for more studies, this investigation could be further advanced by looking at the effect on credit risk management in other institutions such as investment banks and microfinances. It will help in the management of credit unions, Savings and Loans Associations, investment banks and microfinances in Kenya.

Purpose: This study sought to analyze the relationship between public debt and financial development in Kenya. The specific objectives were to examine the association between public domestic debt and financial development, to analyze the connexion between public external debt and Kenya's financial development. The study was underpinned on Financial Repression, Financial Liberalization, Lazy Bank Hypothesis, Demand following hypothesis, and the MacKinnon theoretical model. Methodology: The study applied positivism philosophy and explanatory research design. The study used country data hence no need for sampling. Data was collected for 1964 to 2019 from Kenya's Central Bank. Descriptive and inferential statistics were used in the study. Diagnostic tests such as Multi-collinearity, Auto-correlation, Normality, and Unit root were performed.  Specifically, the long-run and short-run relationships were analyzed using the Auto-Regressive Distributive lag (ARDL) bound test for cointegration. An error correction model was applied to examine the short-run association. Finding: The test suggested the presence of a stable long-run relationship between financial development, public domestic debt, public external debt, and interest rate. The study finding indicates that public domestic debt has a statistically significant negative relationship with Kenya's financial development both in the long and short run. Also, public external debt has a statistically significant positive long and short-run association with financial development. Unique Contribution to Theory, Practice and Policy: The affirms liberalization theory by Shaw and Mackinnon (1973), advocating for a reduction in direct government participation in the financial market credit restriction In addition the study's findings are consistent with the lazy bank hypothesis by Hauner (2009) In addition, the government must ensure appropriate market-determined interest rate must be applied in domestic public debt. Furthermore, the government should continue fostering financial liberalization policies that encourage public external debt has its impacts positively on financial development.