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Intervening influence of financial development on the relationship between sustainability practices and sustainable development of the Sub-Saharan African countries
(MDPI, 2026) Ondabu, Ibrahim Tirimba.; Sporta, Fred Ochogo.; Mbugua, James C. N.
The objective of this paper was to explore how financial development affects the relationship between sustainability practices and sustainable development in Sub-Saharan Africa, where poor institutional quality and shallow financial markets may prevent sustainability gains from translating into measurable improvements in human development, poverty reduction, and environmental outcomes. Both descriptive and explanatory components were included in the study, which employed a longitudinal panel design. Using a positivist, longitudinal panel design, this study analyzes data from 49 Sub-Saharan African countries (2000–2023) sourced from the World Bank, United Nations Development Programme, and Sustainable Development Reports. Data analysis was done using regression models and descriptive analysis. The findings show that financial development does not serve as an effective transmission channel through which sustainability practices impact the achievement of sustainable development. The research concluded that policy interventions should include developing sustainable banking regulations, creating green finance incentives, establishing sustainability-linked lending criteria, and strengthening financial inclusion policies that target sustainable development sectors.
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Capital adequacy and asset quality of deposit-taking microfinance banks in Kenya.
(IJSRP, 2026) Ondabu, Ibrahim Tirimba.; Ochami, Grace Jane Andahwa.; Matanda, Joshua.
The effect of capital adequacy on the asset quality of deposit-taking microfinance banks in Kenya is the central focus of this research. The study's central premise was based on the agency, moral hazard, and institutional theories. The study's target population was 14 deposit-taking microfinance banks in Kenya, with each bank's panel data collected from their audited reports for the years 2019 to 2023. Longitudinal design was the most ideal given the balanced panel data of the banks. Panel data regression was used to determine the causality between the predictor and response variables. The study findings reveal that capital adequacy positively influenced the asset quality of the DTM banks studied (B = 2.587). The association was also significant (p = 0.002 < 0.05). This implied that as MFBs accumulated more capital, the level or amount of NPLs decreased, thus leading to an improvement in their asset quality.
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Green financing in promoting sustainable development in Kenya.
(IISTE, 2026) Njuguna, Peter.; Masioge, Dolphine.
Sustainable development is increasing in popularity globally as countries seek to meet present needs without compromising future generations. Green financing has been touted as a key strategy to direct capital towards sustainable projects. This study analysed the role of green financing in promoting sustainable development in Kenya, particularly in Nairobi County. It focused on sustainable agriculture, green innovation, climate change mitigation, and green infrastructure. The research applied Stewardship Theory, Institutional Theory, Ecological Modernization Theory, and Behaviour Theory to understand stakeholder behaviour and institutional dynamics. Data collection involved ten institutions aligned with green finance goals. Findings indicated weak positive correlations between sustainable agriculture and sustainable development, while green innovation, climate change mitigation, and green infrastructure had weak negative correlations. A multiple regression analysis revealed no significant predictive power, with all indicators failing to demonstrate a positive effect on sustainable development. The study proposed recommendations for educational programs in sustainable agriculture, a policy framework for green innovation, integrated climate change policies, and tailored green infrastructure solutions.
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Fundamental analysis of the agricultural firms listed at the Nairobi securities exchange, Kenya.
(IJRPR, 2022) Dinga, Mackred Ochieng.
This study examined the fundamentals of the agricultural firms listed at the Nairobi Securities Exchange in Kenya. Cross-sectional data covering seven years was obtained from six firms and assembled into a pool of 420 data points. The study employed one-way analysis of variance in performing fundamental securities analysis using ratios data from the published financial statements of the firms. The findings suggest that there are differences among these firms with regard to solvency, liquidity and profitability which lays bare a compelling choice criterion for investors and other stakeholders who are keen on dealing with these firms.
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Effect of portfolio diversification on the financial performance of investment firms listed in the Nairobi securities exchange
(Stratford Peer Reviewed Journals & Books, 2020) Dinga, Mackred.; Kioko, Daniel M.
Investment involves a possibility of variation or deviation in the actual return from the expected return. The return of an investment is a major determinant of whether the investors will sacrifice their present resources or not. The investors are more interested in investments or securities that promise higher returns than those that promise lower returns. Portfolio management still remains as a science that does not give clear answers on the portfolio construction. This study sought to establish the effect of portfolio diversification on the financial performance of Kenya’s quoted investment firms. The specific variables were bond investments, equity investments, mutual fund investments and real estate investments on return on investments for the investment’s firms at Nairobi Securities. The theoretical framework was informed by portfolio theory, Black-Litterman theory and capital asset pricing model. The study adopted descriptive research design approach. The five listed investment companies at the NSE which formed the target population of this study and a census technique was used to select the five listed investment companies in the NSE. The study used secondary data that was extracted from the NSE and the websites of the respective listed investment companies. Data was collected covering 6 years from 2014 to 2019. Descriptive statistics was presented in mean, median, standard deviation while the inferential statistics included diagnostics tests and multiple linear regression model. The results revealed a negative and insignificant relationship between bond investments and return on investments for the investments firms at Nairobi Securities Exchange. There was a positive and significant relationship between Equity investments and return on investments for the investment’s firms at Nairobi Securities Exchange. Mutual Funds’ investments had a negative and insignificant relationship with return on investments for the investment’s firms at Nairobi Securities Exchange. Real Estate investments revealed a positive and significant relationship with return on investments for the investment’s firms at Nairobi Securities Exchange. The study concluded that bond investment has negative influence on the financial performance of investment companies listed firms. Mutual fund investment has a negative influence on the financial performance of investment companies listed firms. In contrast, Equity and real estate have a positive influence on the financial performance of investment companies listed firms. The study recommends that listed investments firms should invest more on the real estate compared to bond and mutual funds securities since real estate had higher significant effect on financial performance. The study further recommends that investment firms should maintain investment in equity so that to increase their financial performance, but they should invest less compared to the real estate investment. The management of the investment firms listed at the NSE should strive to improve the financial performance of their firms to enhance their firms’ equity returns. Based on the weak relationship on bonds and mutual funds with financial performance which is seen by regression analysis, the study recommends that investment firms should consider investing less on bonds and mutual funds given the same market conditions.