Date of Award

Spring 2022

Degree Type


Director of Thesis

Mustafa Karakaplan

First Reader

Marcelo Frias

Second Reader

Marcelo Frias


The lack of access to financial tools has been a significant problem in many areas around the world for a long time. It prevents certain groups of people from being able to progress financially and improve their economic standing. This issue stems from an overall lack of resources and infrastructure in the area. Without the acquisition of new funds, there is no path to poverty alleviation in underdeveloped areas. Currently, the global response has been to try to provide these resources through various methods, including microfinance activities.

Microfinance institutions have been operating in Kenya for decades. They provide a variety of services that include personal loans, business loans, and personal savings accounts, among others. These services have provided a foundation for growth and show promise. However, as currently constructed, these loans fail to demonstrate an ability to provide lasting economic growth on a regional scale. The key is to develop solutions that expand microfinance activities and are focused on growing Kenya's economy.

This thesis examines historical applications of microfinance by using data samples gathered from academic sources. The data is used to conduct financial analysis that helps determine the current factors that have an impact on microfinance activities and their future implications. It also assesses the economic situation that currently exists in Kenya and the potential for future growth. The main purpose of this thesis is to highlight the factors that positively affect poverty alleviation, illustrate efficacious uses of microfinance that already exist, and propose what an effective application of microfinance activities would look like in the future based on the data gathered in the study.

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