FINANCIAL INCLUSION AND WOMEN'S ECONOMIC EMPOWERMENT THROUGH MICRO-FINANCE BANKS IN KISUMU COUNTY, KENYA
FINANCIAL INCLUSION AND WOMEN'S ECONOMIC EMPOWERMENT THROUGH MICRO-FINANCE BANKS IN KISUMU COUNTY, KENYA
Peter Omolo - Master’s Student, Department of Accounting and Finance, Kenyatta University, Kenya
ABSTRACT
This study examined how financial literacy as a dimension of financial inclusion influences Women Economic Empowerment (WEE) through Microfinance Banks in Kisumu County, Kenya.A descriptive correlational design was adopted. The target population was 13,800 women entrepreneurs with active accounts of 3 years and in KWFT, SMEP, Faulu and Rafiki MFBs. Stratified random sampling yielded 100 respondents, with 70% response rate. Data were analyzed using descriptive statistics and simple linear regression via SPSS v26.There was a strong positive correlation between financial inclusion and WEE (r = 0.820, p < 0.001). Financial literacy explained 67.2% of variation in WEE (R² = 0.672). Regression showed financial literacy had a significant positive effect on WEE (β = 0.602, t = 4.531, p = 0.000 < 0.05). Financial literacy significantly influences WEE. MFBs and policymakers should prioritize targeted financial education, budgeting, bookkeeping and credit management for women.
