THE EFFECTS OF MICROFINANCE INSTITUTIONS ON THE SOCIO-ECONOMIC STANDARDS OF KILIFI COUNTY

The study was carried out in Kilifi County in areas that include Mariakani, Kilifi, Mtwapa, Maweni, Kaloleni, and also Ganze, & Bamba which are considered among the top poorest areas in Kenya. The diversity in roles played by Micro Finance Institutions clearly reflects that the needs of individuals and enterprises living within such areas can change significantly over time. The main objective of the research was to determine the effect of Micro Finance Institutions on the socioeconomic standards of Kilifi County residents in relation to employment, social responsibilities and revenue generation. This study used descriptive data where research questionnaires were administered to a sampled size of 100 respondents whom the researcher intended to reach among the sampled target of 1000 beneficiaries and Micro Finance Institutions officials and used published and unpublished literature available in the public domain as secondary data from scholars and government planning dealing with Finance and promotion of rural developments in Kilifi County.