An Assessment of the Roles of Micro Financing On the Income Generation of Small Scale Farmers in Kenya: A Case of Trans Nzoia County
Journal Title: IOSR journal of Business and Management - Year 2018, Vol 20, Issue 8
Abstract
Small scale farming in Kenya and the world at large contributed to economic growth and sustainable livelihood of their families and society. Small scale farmers in Trans Nzoia County are undergoing a vicious circle as poverty is persistent and lingering in their households. The general objective of this study was to assess the roles of microfinacing on the income generation of small scale farmers in Trans Nzoia County. The specific objectives included to assess the role of training service provision on the income generation of small scale farmers, to determine the role of funds transfer service provision on the income generation of small scale farmers, to evaluate the role of insurance service provision on the income generation of small scale farmers and to appraise the role of savings services provision on the income generation of small scale farmers. A descriptive research design was used. The study targeted a population of 51,036 households and a sample size of 150 households. Simple random sampling technique was used. Primary data were collected using structured questionnaires. Data were analysed using frequency tables, percentages and regression analysis. A five-point Likert scale was used to establish the level of agreement with the statements in questionnaires. Ethical consideration was observed throughout the process of study. The research findings revealed that there is strong positive correlation between the dependent and independent variables and that variation in dependent variables is explained statistically by the independent variables. The regression model is significant in explaining the relationship between the variables since p<0.05. In conclusion, microfinances’ role of funds transfer is the reason why small scale farmers are persistently poor in Kenya as an increment of one unit of funds transfer service results in 26.6% decrease in the income of small scale farmers.
Authors and Affiliations
Birech Eliud Maritim
Keywords
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- EP ID EP412340
- DOI 10.9790/487X-2008037297.
- Views 54
- Downloads 0
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