| dc.description.abstract | Utilizing remittances technologies is one of the many obstacles that organizations face when
implementing their strategies, how to increase profitability of key sectors from remittances,
adjusting existing policy to improve remittances and enhancing ease of doing business based
on remittances. However, it should be recognized that these difficulties are special due to the
organizational context, whether internal or external, and the nature of the organization. The
goal of this study was to ascertain how cross-border remittances affected Kenya’s strategic
implementation of Vision 2030. The specific objectives were: determining how cross-border
remittance technology affected the strategic implementation of Vision 2030, to assess the
influence of cross border remittances profitability of key sectors of the economy on the
strategic implementation of vision 2030, to assess the influence of Kenyan cross border
remittances regulatory policy on the strategic implementation of vision 2030 and to assess the
influence of cross border remittances ease of doing business on the strategic implementation
of vision 2030 in Kenya. The research was directed by the motives of remittance, open system
and resource-based view theories. The research design used in the study was descriptive. The
51 management staff of the Department of Immigration Services, the 69 employees of the
CBK’s remittances department, the 69 employees of the banks with diaspora banking
departments (Kenya Commercial Bank, Co-operative Bank, and Equity Bank), the senior staff
for vision 2030, and the senior officers in the Ministry of Planning who were in charge of
diaspora remittances and aligning with the blueprint for vision 2030 were the study’s target
populations. Using the Yamane (1967) formula, a sample size of 119 was selected using
stratified sampling technique . The strata were divided according to type of population. After
locating the respondents, they were selected randomly from each stratum. The respondents to
the survey provided information via a questionnaire. For reliability of the instrument, a value
of 0.878 for the total reliability test coefficient was achieved, which satisfied the requirement
for data collection. In order to guarantee content validity, a total Content Validity Index (CVI)
of 0.819 was attained. Additionally, face validity was established utilizing expert judgment,
particularly the supervisor’s feedback. Quantitative data that was displayed in tables, charts,
and graphs was analyzed using descriptive statistics including means, standard deviations,
frequency counts, and percentages. The dependent variable and independent variables were
tested for associations using correlation and regression analysis. The study assessed how
cross-border remittances affected Kenya’s strategic vision 2030 execution. Since all of the p
values were less than 0.05, the correlation results demonstrated that all of the elements
significantly and favourably influenced Kenya’s strategic implementation of vision 2030.
Cross border remittances technology (r =0.802, p = .000); cross border remittances
profitability (r =0.656, p = .000); cross border regulatory policies (r =0.592, p = .000); and
cross border remittances ease of doing business (r =0.678, p = .000), all showed a significant
influence. Additionally, the findings of the regression analysis showed a substantial and
favourable association between each element and Kenya’s strategic implementation of Vision
2030: Cross border remittances technology (R
2 = .643, F = 181.698, p = .000); cross border
remittances profitability (R
2 = .431, F = 76.467, p = .000); cross border regulatory policies
(R
2 = .350, F = 54.445, p = .000) and cross border remittances ease of doing business (R
2 =
.460, F = 86.008, p = .000). It is recommended that in order to enhance remittance
transactions, further comprehensive innovative money transfer methods should be
implemented for technology. The study also recommends that non-governmental
organizations can help Kenyans living in diaspora to facilitate channelling of funds and
resources to effectively grow business. | en_US |
