Title:
INFLUENCE OF FINANCIAL RISK MANAGEMENT ON EMPOWERMENT OF WOMEN IN NAKURU EAST SUB-COUNTY

Authors:
Dalmas Monica and Ngahu Solomon

Abstract:
Women, unlike men, earn smaller amounts of income which are mostly utilized to address dayto-day household expenditures. Women have for a long time been marginalized despite the significant role they play in the socio-economic development. Countries which have laid down and implemented strategies on empowering women have witnessed great improvements in their development and growth. However, in Kenya, women marginalization has resulted in their financial disempowerment. The study sought to analyze the influence of financial risk management on financial empowerment of women. The Ford financial empowerment model and the theory of planned behaviour guided the study. A descriptive survey research design was adopted. The study employed a quantitative approach. The target population constituted members of registered women self-help groups (SHGs) in Kenya The accessible population comprised 150 registered WSHGs in Nakuru East Sub-County. A sample of 74 respondents was drawn from the sampling frame using stratified random sampling technique. A structured questionnaire was used to aid in data collection. The questionnaire was subjected to both validity and reliability tests. The data collected were analyzed with the assistance of the Statistical Package for Social Sciences (SPSS) Version 24 software. Data analysis involved both descriptive and inferential statistics. The results of the analysis were presented in tables and were duly interpreted in line with study objective. The study revealed that 17.1% of the variance in financial empowerment was as a result of financial determinants. It was concluded that financial risk management was an important determinant of financial empowerment of women