Youth Financial Empowerment Programmes And Socioeconomic Development Of Rural Areas In Nyeri County, Kenya

ABSTRACT

There have been numerous policies and programmes on growth, development and

improvement of people and society welfare. This is through empowering the youth by

providing them with the necessary resources and a platform for creating awareness on available

opportunities. Most of these policies and programmes are directed toward a specific sector,

industry or an area with an aim of creating a positive impact in the short or long run to that

sector and the overall economy. This has led to the government and other stakeholders focusing

in the rural areas by using the youths as an instrument of change but the question was if there

is any change despite pumping a lot of resource in these areas. The purpose of this study was

to determine the effects of government and non-governmental organization intervention

through youth financial empowerment programmes on socio-economic development of rural

areas of Nyeri County by providing credits, bringing new technology, markets provision and

finally through imparting them with financial knowledge. The study adopted a descriptive

survey research design. The population of the study was 2 persons from 63 registered youth

groups from Nyeri County, totaling to 126 respondents to represent the whole population of

youth. Purposive sampling was employed to all the targeted respondent making the study

sample size 126 who were beneficiaries of the youth financial empowerment programmes. Data

collection was through primary methods such as interviews and questionnaire and secondary

methods such as journals and government publications. Reliability and validity of the

questionnaire was tested through piloting while ethical considerations were observed by

treating responses with confidentiality. Multiple Regression Analysis and descriptive statistics

(such as mean and standard deviation) were used in the analysis of data. Data presentation was

done by using tables for ease of understanding and interpretation. From the study findings

youth financial empowerment programmes had varying impact on development. Adoption of

current technology was significant in influencing socio-economic development of rural areas.

Credit provision and market provision were also found to have high effect while financial

knowledge was found to have a moderate effect on socio-economic development of rural areas.

In conclusion, to improve productivity and living standard of rural areas of Nyeri County youth

financial empowerment programmes through adoption of new technology, credit provision,

market provision and financial knowledge are of significant effect. The study recommended

that good financial management knowledge such as budgeting, recording, and reporting are of

paramount importance thus more resources such as educative materials should be produced to

enlighten the youth. A policy framework that would involve more youth through public

participation in coming up with empowerment policies should be put in place and involve a

wider net of stakeholders apart from the government, such as private investors and NGO.

Lastly, diversified sources of funding or credit should be involved so as to pump more financial

capital to youth and rural areas which would have great effect on development

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APA

MURUTHI, J (2021). Youth Financial Empowerment Programmes And Socioeconomic Development Of Rural Areas In Nyeri County, Kenya. Afribary. Retrieved from https://afribary.com/works/youth-financial-empowerment-programmes-and-socioeconomic-development-of-rural-areas-in-nyeri-county-kenya

MLA 8th

MURUTHI, JAMES "Youth Financial Empowerment Programmes And Socioeconomic Development Of Rural Areas In Nyeri County, Kenya" Afribary. Afribary, 01 Jun. 2021, https://afribary.com/works/youth-financial-empowerment-programmes-and-socioeconomic-development-of-rural-areas-in-nyeri-county-kenya. Accessed 29 May. 2024.

MLA7

MURUTHI, JAMES . "Youth Financial Empowerment Programmes And Socioeconomic Development Of Rural Areas In Nyeri County, Kenya". Afribary, Afribary, 01 Jun. 2021. Web. 29 May. 2024. < https://afribary.com/works/youth-financial-empowerment-programmes-and-socioeconomic-development-of-rural-areas-in-nyeri-county-kenya >.

Chicago

MURUTHI, JAMES . "Youth Financial Empowerment Programmes And Socioeconomic Development Of Rural Areas In Nyeri County, Kenya" Afribary (2021). Accessed May 29, 2024. https://afribary.com/works/youth-financial-empowerment-programmes-and-socioeconomic-development-of-rural-areas-in-nyeri-county-kenya