An assessment of elements influencing implementation of Universal Health coverage among Counties in Kenya: A case of Makueni County

Abstract

Deposit taking SACCO’s continue to play a significant role in the lives of the poor in Kenya by responding to their needs, concerns and voices by providing easy access of financial services. Financial inclusion is seen as a solution to include on a large-scale previously excluded poorer groups without access to capital into the financial system. The objective of the study was to determine how financial inclusion strategies affect the performance of savings and credit co-operative in Nairobi County, Kenya. The study was guided by the following research objectives: To determine the effect of financial innovation strategies on performance of savings and credit co-operative in Nairobi County, Kenya; To evaluate the effects of financial literacy strategies on performance of savings and credit co-operative in Nairobi County, Kenya; To assess the effect of regulatory reforms on performance of savings and credit co-operative in Nairobi County, Kenya. The study was guided by open systems theory, financial intermediation theory and the Life cycle of saving theory. This study adopted both descriptive research design and causal research design. The study population comprised of the 40 registered deposit taking SACCO’s in Nairobi County and the study used descriptive inferential analysis of data collected. The study identified that financial innovation was most significant in increasing financial performance, financial literacy programs significantly influence performance of SACCO’s while regulatory reforms increases financial performance but not significantly and mobile transactions and accessibility to credit significantly influence financial performance. The study concluded that firms that have not effectively implemented financial innovation financial literacy and regulatory reforms may fail or collapse or otherwise can be absorbed by other well managed SACCO’s, financial literacy significantly influence performance of SACCO’s while regulatory reforms increases financial performance but not significantly, in general financial inclusion strategies affect the financial performance of registered SACCO’S Kenya. The study also recommended the need to invest in financial innovation strategy to reduce cost and increase efficiency in the sector. To retain and increase financial inclusion, the organization must provide quality services which is user friendly and meets customer expectations leading to growth of business,