Financial Factors Determining Micro-Loan Uptake by Women Enterprise Groups in Nakuru East Constituency, Nakuru County

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 DOI: 10.7176/RJFA/10-8-19 Publication date: April 30th 201

Diagnosis and management of pneumonia in the emergency department.

Pneumonia is a condition that is often treated by emergency physicians. This article reviews the diagnosis and management of pneumonia in the emergency department and highlights dilemmas in diagnostic testing, use of blood and sputum cultures, hospital admission decisions, infection control, quality measures for pneumonia care, and empiric antimicrobial therapy

Aetiology, Antimicrobial Susceptibility and Predictors of\ud Urinary Tract Infection among Febrile Under-Fives at\ud Muhimbili National Hospital, Dar es Salaam-Tanzania

Urinary tract infection (UTI) is a common cause of fever in children and contributes to morbidity and mortality. This study aimed at determining prevalence, aetiology and antimicrobial susceptibility pattern of the isolates at Muhimbili National Hospital (MNH), Dar es Salaam- Tanzania. Demographic data were collected using a pretested questionnaire. 382 febrile children below five years admitted in the general paediatric wards were recruited. Urine specimens were obtained for urinalysis, culture and antimicrobial sensitivity testing. UTI was detected in 16.8% (64/382). Children who presented prolonged duration of fever (7 days or longer) were more likely to have UTI (p< 0.01). Duration of fever, positive leukocyte and nitrite tests were independent predictors of UTI. Isolated bacteria included Escherichia coli (39.1%), Klebsiella spp (31.2%), Staphylococcus epidermidis (6.2%), Staphylococcus aureus (4.7%) and Pseudomonas aeruginosa (4.7%). We observed high resistance of the isolated uropathogens to ampicillin (79.9%), co-trimoxazole (89%) and clavulanate-amoxillin (70.3%). Amikacin had the least resistance (12.5%) from the isolated pathogens

Institutional Micro Credit Determinants and Portfolio Quality of Investment Groups

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.&nbsp;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 howthe risks of individual loans and portfolios are interrelated. The study also&nbsp;recommended that, banks should be allowed to invest more in loans and 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. &nbsp

The Applicability of Pecking Order Theory in Kenyan Listed Firms

The focus of this study was to test the applicability of pecking order theory in capital structure formation of Kenyan firms listed on Nairobi Securities Exchange over the period 2002-2009. The study begins by addressing the factors affecting the formation of capital structure to Kenyan firms. The determinants of capital structure are relevant in testing the applicability of pecking order theory. The pecking order theory is based on the idea of asymmetric information between managers and investors. Managers know more about the true value of the firm and the firm’s riskiness than less informed outside investors. Existing studies have produced conflicting evidence on applicability of the theories hence increasing the need to test the pecking order theory by using data from the emerging markets like Kenya. Significant gaps exist in finance literature as to whether the theory has any application on emerging markets like Kenya. Hence the objective of the study was to test the applicability of pecking order theory. The dependent variable for this study was gearing ratio while the independent variables were internal fund deficit and firm-specific factors like profitability, size, asset tangibility, non-tax shield and growth opportunities. Panel Data were obtained from financial tables of 30 firms processed in NSE and Multivariate Regression was used to analyze the data and test the hypotheses.  The study established that size, non-tax shield, profitability, growth and tangibility are determinants of capital structure as predicted by pecking order theory. The study however found evidence supporting applicability of weak form of pecking order theory on listed Kenyan firms. The results are consistent to previous studies in developed countries. The study recommends for improvement of the bond market in Kenya to increase the availability of long-term external source of funds and provide Kenyan firms with more alternative sources of finance. Keywords: Pecking Order Theory, Gearing, Fund Deficit, Surplus, Capital Structur