Effect of microfinance services on poverty reduction in Makueni County

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Author: 
Fidelis Nduku Mutua, Ariemba Jared and Kingori Robert
Abstract: 

Poverty is a condition in which a person of a community is deprived of the basic essentials and necessities for a minimum standard of living. This study was carried out to show the effect of Microfinance services on poverty reduction in Makueni County. Descriptive research design was used to assess the extent to which poverty alleviation correlates with Microfinance services which are savings, training, micro-insurance and micro-credit. The study targeted 6 deposit taking institutions in Makueni County. Systematic simple random sampling method was used to select 244 MFI members from the deposit taking microfinance. Primary data was collected using questionnaires and presented by descriptive statistics methods like pie charts and graphs. Multivariate regression model was used to determine the relative importance of the variables with respect to poverty reduction. The study found that Microfinance services have positive and significant effect on Poverty reduction. The research recommends that the government should formulate and review the existing policies on MFIs to incorporate the emerging issues due to changes in the banking industry.

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   Vol. 07, Issue 03, March 2017

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