SOCIO-ECONOMIC FACTORS AND EMPOWERMENT OF WOMEN ENROLLED IN TABLE BANKING IN BUSIA COUNTY, KENYA

Abstract

This study investigated the influence of socio- economic factors on empowerment of women enrolled in table banking in Busia County, Kenya. The study used the following theories in supporting the research variables; social network theory, capital formation theory, human capita theory and Schien theory. Descriptive research design was used in the study. The study targeted 63 officials from 21 women table banking groups in Busia County . The study adopted census thus collect data from the all the 63 respondents. The study used primary data which was collected using structured questionnaires. Pilot test was conducted to test validity and reliability of data collection tools. Descriptive and inferential analysis was done by the use of Statistical Package for Social Sciences (SPSS 23) and presented through percentages, means, standard deviations and frequencies. For variable relationships, inferential analysis was examined and analyzed. Data was presented by use of tables, figures and models. Using Pearson correlation coefficient, the findings established a direct and positive relationship between empowerment of women enrolled in Table banking group and independent variables; fund mobilization, access to finance, social capital and capacity building. Further inference using multiple linear regressions showed the proportionate contribution of socio-economic success factors towards empowerment of women enrolled in table banking. This study observed that fund mobilization showed the greatest positive significant predictive power towards empowerment of women enrolled in table banking while access to finance had least positive significant predictive power. In this regard, the study recommended that table banking groups should as well pursue viable and economical external sources of funding to boost their capital base and support the group investment activities. The study recommended that women enrolled in table banking should enhance social capital through social networking. Further, the study recommended that government should come up with policies that would enhance women accessibility to finance since it has positive effect on women empowerment. Key Words: Funds Mobilization, Capacity Building, Social Capital, Access to Finance CITATION : Kesa, S. D., Otinga, H., & Miroga, J. (2023). Socio-economic factors and empowerment of women enrolled in table banking in Busia County, Kenya. The Strategic Journal of Business & Change Management, 10 (3), 420 – 445.