Journal Articles

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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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    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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    Intervening Influence of Financial Development on the Relationship Between Sustainability Practices and Sustainable Development of the Sub-Saharan African Countries
    (Journal of Risk and Financial Management, 2026) Mbugua, James C. N.; Ondabu, Ibrahim T.; Sporta, Fred O.
    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.