Effects of Youth Awareness of Financial Services Access from Microfinance Institutions on Livelihood Development in Nairobi County
Main Article Content
Keywords
Livelihood development, financial inclusion, microfinance services, financial literacy, awareness, Nairobi County, youths
Abstract
Access to financial services is a critical driver of economic empowerment, especially among youth in developing countries. In Kenya, where youth constitute over 75% of the population, many face persistent unemployment and underemployment challenges despite their entrepreneurial potential. In urban areas such as Nairobi County, young people often struggle to access formal credit and financial products needed to launch or expand income-generating activities. However, youth access to microfinance services remains limited due to low awareness among youth about available financial products and procedures, coupled with financial institutions' perception of youth as high-risk borrowers. This study, therefore, sought to investigate how youth awareness of financial services access from microfinance institutions on livelihood development in Nairobi County. This study was guided by Sustainable Livelihood approach and applied embraced positivist and interpretivist approaches. Exploratory sequential mixed method research design was employed during data collection. The study targeted 3,400 youth drawn from groups across 17 sub-counties in Nairobi County. It also included key informants from registered microfinance institutions, youth department officials from each sub-county, and representatives from the Ministry of Public Service, Youth and Gender Affairs, the Ministry of Cooperatives, and the Ministry of Industrialization. Yamane (1967) formula was used to obtain 358 youths from the target population. The study used a combination of stratified random sampling, purposive sampling and census techniques to select respondents from different categories. Quantitative data were gathered through the use of structured questionnaires, whereas qualitative data were obtained using key informant interview guides. The quantitative data were analyzed using both descriptive and inferential statistical methods, while the qualitative responses were organized and presented using thematic and narrative analysis techniques. The results revealed that awareness of MFI services is moderately to strongly correlated with livelihood development (r=.659, p<0.05). The regression analysis confirms this relationship, showing that youth awareness of MFI services has a statistically significant positive effect on livelihood development (β=0.522, t=6.29, p<0.05). This indicates that the more informed youth are about microfinance products, procedures, and conditions, the greater their improvements in livelihood outcomes. Qualitative data from key informants further highlighted that while awareness has improved, it often remains superficial, failing to translate into a deep understanding of terms, eligibility, or the full spectrum of development-oriented products. Hence, microfinance institutions, in collaboration with government agencies and youth organizations, should invest in targeted awareness campaigns and financial education programs to enhance youth understanding and uptake of financial services. This would improve youth participation in economic activities and contribute to sustainable livelihood development.
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Published
Jun 8, 2025
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Koske , L. C., Kurgat, A., & Omboto , P. I. (2025). Effects of Youth Awareness of Financial Services Access from Microfinance Institutions on Livelihood Development in Nairobi County. Journal of Frontiers in Humanities and Social Sciences, 3(2), 49–77. https://doi.org/10.69897/jofhscs.v3i2.233
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Author Biographies
Luciana Chepkoech Koske , School of Arts and Social Sciences, Moi University, P. O. Box 3900-30100, Eldoret, Kenya
School of Arts and Social Sciences, Moi University, P. O. Box 3900-30100, Eldoret, Kenya
Alice Kurgat, School of Arts and Social Sciences, Moi University, P. O. Box 3900-30100, Eldoret, Kenya
School of Arts and Social Sciences, Moi University, P. O. Box 3900-30100, Eldoret, Kenya
Peter I. Omboto , School of Business and Economics, Moi University, P. O. Box 3900-30100, Eldoret, Kenya
School of Business and Economics, Moi University, P. O. Box 3900-30100, Eldoret, Kenya