IBMRD's Journal of Management & Research

Vilas S. Epper ¹, John Osoro Nyangweta ²

Affiliations
1 Dr. Babasaheb Ambedkar Marathwada University, Aurangabad, IN
2 Ministry of Education, Science & Technology, KE

Abstract

Inclusive financing strategy is the delivery of financial services at affordable costs to sections of disadvantaged and low-income segments members of the society. Previously, the main stream Commercial Banks had left out low income earners who constitute a big percentage of the Kenyan population. Development through Financial Inclusion in Kenya aims at improving the standard of living of the people. Improvement in living standards has not been confined to economic gains, or increments in per capita income. It has certainly involved improvements of people to social, cultural and political spheres of life. Rural development involves the transformation of the economic, social, cultural and political conditions of the rural people for the better in order to enable them actively participate, consciously bring about their development, take their own share of benefits and sustain such benefits for long. Surprisingly, however, two notable issues remain constant across the foregoing half-a century in attempts to address poverty and equal opportunity. About one billion people globally earn per capita income of less than one dollar per day. Increasingly poverty worsens the problems of the poor in the world today. Particularly in Sub Saharan Africa, a sharp contrast of increasing disparity between the rich and the poor, men and women or urban and rural people. Financial inclusion Strategy is the delivery of financial services at affordable costs to sections of disadvantaged and low-income segments members of the society. As a result, companies in India have developed m-payment systems on the lines of M-PESA, a mobilebased financial service, in Kenya, to increase financial inclusion by providing deposit and withdrawal services to customers in remote areas. These have increased mobilization of money in form of capital for investment to rural areas which is inaccessible by big commercial banks.

Keywords

Financial Inclusion, Financial Strategy, Financial Services, M-PESA

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John Osoro Nyangweta , Andreas Reinsch

Abstract

Following international developments and aspirations to improve the TVET sectors around the globe in anticipation of major technological change and increased international competition, the government of Kenya appreciates the key function played by TVET Institutions and Technical Universities in imparting technical skills required for priority sectorsin attainment of Kenya Vision 2030 and the "Big Four Agenda". Technology and innovation are pre-requisites for the creation of employment, the motivation for entrepreneurship, creation of wealth as well as the building and development of human resources required for the transition to a knowledge-based economy cannot be underestimated. To this end, it is critical to enjoin the goals of Vision 2030 and the "Big Four Agenda" in line with the aspiration Sustainable Development Goals (SDG'S).

The Vision 2030 proposes the intensification of the application of "hands-on-skills" to increase industrial output and productivity in terms of added value and quality. Kenya has highly cherished the need for innovation and technology as key drivers for socio-economic development. This has been the magic behind the massive economic growth and development of the Southeast AsianTigers (Hong Kong, Singapore, South Korea and Taiwan) and other economic powers, such as India and China. Kenya is seen by many as a powerhouse of Africa and this is true from many perspectives. For Kenya, the time has come to capitalise on its potential and to catch up with the most advanced economic powers around the globe. Achieving this, Kenya will be well-placed to actively participate in the expected sustainable economic development of the rising of Sub-Saharan Africa.

Keywords

Big Four Agenda, Collaborative, Sustainable Development Goals, TVET.

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John Osoro Nyangweta ¹

Affiliations
1 Deputy Director, Technical Education, KE

Abstract

The Kenya National Qualification Framework is a learning outcome-based qualifications framework, encompassing of all educational and training sectors and all types of learning; recognized, non-formal and informal training. The Kenya National Qualifications Framework comprises of levels; each being identified by a unique set of Level Descriptors. The National Qualifications Framework is the fundamental tools through which National Education and Training Qualifications are registered and accredited. The Kenya National Qualifications Framework is constituted of principles and guidelines by which data of student's achievements are enumerated to facilitate National acknowledgement and appreciation of skills attained and expertise, where by guaranteeing an integrated, robust and vibrant system that inspires life-long training. The modern advancement in national productivity can be achieved through updated technologies and skilled workforce. There is need to contextualize the upsurge ambitions of youth and intensifying aspiration for advanced skills to match with market demand and aspirations of labour Market needs. The Recognition of Prior Learning is the process used to identify, assess and certify an RPR candidate's level of understanding, skills attainment and competencies assimilated in 'Jua-kali' sector or formal training, similarly as work or life experiences, against prescribed standards or learning outcomes.

Keywords

Kenya National Qualifications Framework, Level Descriptors, Recognition of Prior Learning (RPL), Jua-Kali Sector (Informal Sector in Kenya).

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John Osoro Nyangweta ¹

Affiliations
1 Deputy Director, Kenya National Qualifications Authority, KE

Abstract

The Kenya National Qualifications Authority was set up in 2015 with a goal of coordinating and harmonizing Education, Training, Appraisal and Quality of certificates conferred in the country, the main objective of advancing quality and international comparability education and training. The Authority's mandates as stipulated in the Kenya National Qualifications Framework (KNQA) Act No. 22 of 2014 and KNQA Regulations, 2018. The obligations of the Authority cuts across the Basic, TVET and University Sectors in Kenya. The KNQA assures quality of Qualifications, accrediting and registering of Qualifications Awarding Institutions (QAIs), professional bodies, external assurance agencies as well as domestic and foreign assessment. The Authority registers Qualifications Awarding Institutions, National Qualifications and Learners record data base as specified in both the Act and the regulations aforementioned above. The Authority also harmonizes and coordinates quality of all qualifications conferred in the country; with the opinion of enhancing excellence of qualifications and global comparability in qualifications in the region. In line with this, UNESCO has directed all nations to institute the process and timeline for developing qualifications frameworks globally for educational recognition and comparability.

Keywords

Kenya National Qualifications Framework (KNQF), Qualifications Awarding Institutions (QAIs).

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