The study aimed at investigating the impact of digital financial services on the financial performance of Commercial Banks in Kenya using secondary dataset generated from the Central Bank of Kenya (CBK) and the Communication Authority of Kenya (CAK) for a period of five years (2015-2019). To achieve this objective, the study used a multiple regression and Pearson correlations. The study using the Pearson correlations found negative correlations between mobile money (registered mobile money accounts, active mobile money agents and mobile money deposits and withdrawals), digital payments (P2P transfers) and performance of commercial banks. However, the study found positive and significant relationship between customer deposits, Gross non-performing loans and performance of commercial banks in Kenya. The study therefore concludes that digital financial services offered by Fintech companies have a negative impact on the performance of Commercial banks in Kenya and recommends that commercial banks should continuously develop more digital financial services and collaborate more with Fintech companies to improve on their performance. The originality of this study will be of benefit to managers of Commercial banks. JEL: G21, G23, N27, O30, O31, O39 <p> </p><p><strong> Article visualizations:</strong></p><p><img src="/-counters-/edu_01/0965/a.php" alt="Hit counter" /></p>

Micro-credit plays a major role in development strategies. This is in view of its direct relationship to both poverty alleviation and improvement of the living standards. However, commercial banks are still largely absent in the provision of micro credit. This phenomenon may be attributed to credit policies associated with loans provided by the formal sector. Since many businesses in small and micro enterprise sector are largely poor and lack tangible assets that can be pledged as collateral in conventional lending, banks are unwilling to provide credit facilities to them. For this reason, The objectives of the study were to determine the effects of macroeconomic, group leverage, group capitalization and group characteristics on the portfolio quality of investment groups financed by the Sidian bank in Nairobi region The study adopted a descriptive survey research design since it establishes the relationship between the dependent and the independent variable. With the target population being all the 56 investment groups in the 9 branches under the Sidian bank within Nairobi region. The study used secondary data, which was obtained from the Sidian bank offices in each of the branches within Nairobi region. Data analysis was conducted using descriptive statistics including percentages, frequencies, means and standard deviation. In addition, inferential analysis was carried out using correlation analysis and multiple regression analysis. The study found that macroeconomic variables, group leverage level, group capitalization and group characteristics influences portfolio quality of investment groups financed by the Sidian bank in Kenya positively and significantly. The study concluded that group leverage level had the greatest influence on portfolio quality of investment groups financed by Sidian bank in Kenya followed by macroeconomic variables, group capitalization level and finally group characteristics had the least effect. The study recommends that the Sidian bank need to manage their portfolios, by understanding that not only the risk posed by each credit but also how the risks of individual loans and portfolios are interrelated. The study also advances as long as such banks have enough reserves to finance such investments. The study further recommends that regulatory authority (CBK) and other stake holders should create an enabling environment that removes all these inefficiencies to the policy concern of high cost of credit.

The main goal of many listed firms at NSE is to grow and sustain growth in financial performance. Internal factors and external factors are viewed as critical drivers for the financial performance of listed firms on NSE. This paper focuses on investigating the influence of macro-economics and corporate governance factors on the financial performance of listed firms at NSE. The review of earlier studies in this field has shown lack of consensus on the effect of corporate governance and macro-economic factors on the financial performance of listed firms at NSE, thus the need for this study. The population of this study comprised of all the sixty-three (63) listed firms at NSE in Kenya and licensed by the Central Bank of Kenya (CBK) as at December 2017. The study used Panel data covering a period of seven (7) years from 2011 to 2017. The data was collected from, KNBS, CBK published financial annual supervisory reports, and published annual financial reports for the fifty-five (55) firms which were consistently listed at NSE and whose data was available. The study used correlation and multiple linear regression to analyze the data. The study established that the macro-economic and corporate governance factors accounted for 99.5% of the financial performance of listed firms in Kenya (R2 = 0.995). Additionally, the study established that the macro-economic factors had a negative significant influence on the financial performance of listed firms at NSE, which is specified by a strong statistically significant negative relationship (r = -0.495, p < 0.05). Comparatively, the findings of the study revealed that corporate governance factors had a significant positive influence on the financial performance of listed firms at NSE (specified by r = 0.551, p < 0.05). In conclusion, macro-economic and corporate governance factors have a statistically significant influence on the financial performance of listed firms at NSE. The study recommends further research on other macro-economic and corporate governance factors not included in the study to determine their influence on the financial performance of listed firms at NSE. Some of the macro-economic factors of interest for future research include but not limited to the level of unemployment in the economy, the level of stock market, and money supply. On the other hand, corporate governance factors include the board composition in terms of age, ethnicity, race, profession, experience, frequency of holding board meetings, and number of board committee.

This study aimed to find out the factors influencing the development of the Nairobi Securities Exchange. The general objective of this study was to determine the factors that affect the development of the NSE. The specific objectives were to determine the effect of market information; market efficiency; market transparency; market openness; transaction processing system and operating/transaction cost; legal and regulatory framework on the development of the NSE. Both primary and secondary data collection methods were used. A semi-structured data collection questionnaire was used to collect primary data on institutional factors while secondary data was collected on market capitalization from 2006 to 2015 which was used as the indicator of NSE development. The study employed a descriptive research design to describe the empirical data. The population of study was all licensed stock brokers in the Nairobi Securities Exchange. A regression model was used for data analysis and hypothesis tested with a 0.05 significance level. This study concludes that market information, market efficiency, market openness, market transparency, transaction processing system and transaction/operating cost and legal and regulatory framework affects the development of Nairobi securities Exchange.The study recommends that developing countries to initiate policies to foster growth and development as countries liberalize their financial systems and further enhance domestic resource mobilization.

The study sought to determine financial factors determining micro-loan uptake by women enterprise groups in Nakuru East Constituency, Nakuru County. The government of Kenya acknowledging that women had been marginalized in access to formal financing, and hence introduced the Women Enterprise Fund (WEF) to provide an alternative, easily accessible and affordable finance. However despite the efforts made by the government, most women enterprises still are not accessing the funds as anticipated in this government endeavors. There has been concern among various stakeholders that even though the government has availed affordable funds for women with minimal regulatory factors, some of these funds lie idle with lenders therefore Specifically, the study sought to establish the extent to which financial characteristics, lending procedures, financial literacy and loan repayment policies affect micro-loan uptake by women enterprise groups in Nakuru East Constituency, Nakuru County. The research employed descriptive research design. The target population was 322 women groups in Nakuru Town East Constituency. Nassiuma's formula was employed to sampled 82 groups. Primary data was collected through semi structured self-administered questionnaires. Both descriptive and inferential statistics were used to analyze data. Multiple regression analysis was used as the principal data analysis method. From the study findings,financial characteristic, lending procedures, and financial literacy and loan repayment policies has a significance influence on uptake of micro-loans by women enterprise groups in Nakuru East Constituency, Nakuru County. From the finding the researcher recommended that MFIs and governments should design products specifically tailored to meet the needs of women so as to address their challenges. Women should be equipped with financial literacy skills; this can be through conducting workshops to teach these women how to start and maintain their businesses in proper financial state at all times. The study suggested that further research should be carried out to assess the effect of group dynamic on loan repayment Key terms: Financial Factors Micro-Loan Uptake, Women Enterprise Groups