Microfinance Interventions and Financial Empowerment of Women Entrepreneurs in Eldama Ravine, Kenya

Women’s financial empowerment (microcredit, microsavings, business development services, advisory/consultancy) is a vital pillar of sustainable and inclusive development, as women contribute significantly to household welfare, community advancement, and national productivity. Despite the growth of microfinance operations in Kenya, women entrepreneurs in Eldama Ravine Sub-County continue to face restricted access to credit, inadequate savings facilities, and limited advisory and business development services. This study examined the effect of microfinance interventions, specifically microcredit, microsavings, business development services (BDS), and advisory and consultancy (AC) services, on the financial empowerment of women entrepreneurs in Eldama Ravine Sub-County, Baringo County, Kenya. The study adopted a survey research design. Data were collected using a drop-and-pick method. Data analysis involved editing, coding, classification, and tabulation to prepare for statistical evaluation. Anchored on the Social Learning, Resource-Based, and Financial Systems theories, the study adopted an explanatory research design targeting 735 registered women-owned enterprises. A sample of 144 respondents was determined using Slovin’s formula and selected through stratified random sampling. Data were collected through pre-tested structured questionnaires and analysed using descriptive and inferential statistics. Diagnostic tests confirmed model adequacy (Durbin–Watson = 2.110; VIF within acceptable range). Results revealed that microcredit (p=0.044), microsavings (p=0.018), BDS (p=0.023), and AC services (p