DIGITAL FINANCIAL INNOVATIONS AND FINANCIAL EMPOWERMENT OF WOMEN TABLE BANKING GROUPS IN KIRINYAGA COUNTY, KENYA
DIGITAL FINANCIAL INNOVATIONS AND FINANCIAL EMPOWERMENT OF WOMEN TABLE BANKING GROUPS IN KIRINYAGA COUNTY, KENYA
Gibson Magochi Muthoga - Postgraduate Student, Department of Accounting and Finance, School of Business Economics and Tourism, Kenyatta University, Kenya
Dr. Francis Gitagia (PhD), (CPA) - Lecturer, Department of Accounting and Finance, School of Business Economics and Tourism, Kenyatta University, Kenya
ABSTRACT
Despite the growth of table banking initiatives, financial empowerment among women groups has remained relatively low, with limitations observed in access to financial resources, decision-making autonomy, and income-generating capacity. The research examined the effect of digital financial innovations on the financial empowerment of women table banking groups in Kirinyaga County, Kenya. The specific objectives of the study were: to determine the effect of mobile wallet-based group savings platforms, mobile-based credit access, digital bookkeeping systems and mobile payment integration on financial empowerment of women table banking groups in Kirinyaga county, Kenya. The study was anchored on the Institutional Theory and Resource-Based View Theory and adopted a descriptive census research design targeting all 343 registered women table banking groups in Kirinyaga County, represented by group leaders or financial representatives. A census approach was used, with primary data collected through structured questionnaires for the period 1st January 2024 to 31st December 2024. Diagnostic tests for normality, multicollinearity, heteroscedasticity, and linearity confirmed the validity of the regression model. Data were analyzed utilizing SPSS through descriptive statistics and inferential techniques including Pearson correlation and multiple regression analysis, with results presented in tables. Mobile-based credit access had a positive and statistically significant effect, digital bookkeeping systems had a negative and statistically significant effect, and mobile payment integration had a positive and statistically significant effect, with mobile payment integration exerting the strongest influence. The study concludes that digital financial innovations significantly enhance financial empowerment among women table banking groups by improving access to financial services, strengthening transaction efficiency, and supporting financial inclusion, although challenges associated with digital bookkeeping limit its effectiveness. The study recommends strengthening capacity building on digital bookkeeping systems, enhancing usability of digital financial tools, improving integration of mobile financial platforms, and promoting digital financial literacy among women groups, while policymakers and county governments should develop supportive frameworks to enhance adoption and effective utilization of digital financial innovations..
