MICRO-FINANCE ACCESSIBILITY AND SUSTAINABLE GROWTH OF ENTREPRENEURIAL ECOSYSTEM AMONG MAASAI WOMEN OWNED SMALL HOLDER BUSINESSES IN KAJIADO COUNTY
MICRO-FINANCE ACCESSIBILITY AND SUSTAINABLE GROWTH OF ENTREPRENEURIAL ECOSYSTEM AMONG MAASAI WOMEN OWNED SMALL HOLDER BUSINESSES IN KAJIADO COUNTY
Daniel Ole Moiko - Student - Master of Science in Enterpreneurship, Jomo Kenyatta University of Agriculture and Technology, Kenya
Dr. Godfrey K. Makau - Jomo Kenyatta University of Agriculture and Technology, Kenya
ABSTRACT
This study explored the effect of micro-finance accessibility on the sustainable growth of entrepreneurial ecosystems among Maasai women-owned smallholder businesses in Kajiado County. The Maasai community, renowned for its rich cultural heritage, has historically faced economic challenges, particularly with respect to women's empowerment and economic participation. This research aimed to highlight the role of micro-finance in facilitating sustainable growth among Maasai women-owned smallholder businesses, identify potential challenges in accessing microfinance and opportunities for further development in the entrepreneurial landscape of the community. The study was anchored on the theory of women empowerment, dual process theory, financial literacy, Cochran’s cultural theory and microfinance credit theory. The study used a descriptive survey approach, and target a range of microfinance institutions, licensed small holder Maasai women owned businesses and the county administration staff in Kajiado county. The study used questionnaires to collect data from Maasai women entrepreneurs, micro-finance institutions, local authorities, and other stakeholders involved in the entrepreneurial ecosystem in Kajiado County. Data collected was analyzed using statistical packages for social sciences version 26 and then presented in tables, charts and graphs for interpretation. The findings revealed that financial literacy and sociocultural practices had a moderate positive significant influence on sustainable growth of entrepreneurial ecosystems among Maasai women-owned smallholder businesses in Kajiado County. However, loan accessibility and social empowerment support had a moderate negative significant influence on sustainable growth of entrepreneurial ecosystems among Maasai women-owned smallholder businesses in Kajiado County. The study therefore concluded that financial literacy and sociocultural practices influence sustainable growth of entrepreneurial ecosystems among Maasai women-owned smallholder businesses in Kajiado County. The study therefore recommended for robust improvement on financial literacy through awareness campaigns and education, promotion of non-retrogressive socio-cultural practices that promote women empowerment, formulation and development of training manuals and brochures to offer more relevant information on microfinancing for small scale business units and to develop more social empowerment support programs to enhance growth of businesses among aspiring women entrepreneurs within the Maasai community in Kajiado county. The study further suggested that more studies could be done to examine the impact of cultural marginalization on the sustainable business performance among rural women groups in Kenya.
