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Abstract: Small and medium enterprises play a fundamental role in economic growth and developments.  The economies of all market-oriented nations depend on the efficient operation of complex and delicately balanced indispensable element in these systems - systems of money and credit However, historically SMEs financing remains as major challenge to the growth of SME.  This paper therefore tries to identify some underlying problems from the banks perspective. This study is based on primary data which is collected through personal interview with structured questionnaire and direct observations.  Findings indicate that banks appear to be facing serious challenges of high cost of gathering information and collateral.  Both high costs to gather reliable information on SMEs and high administration costs on loans made to SMEs were found to have fundamental impact on SME lending. Though lack of finance appears to be a major challenge hindering SMEs growth, this hindrance may be mostly enhanced by constraints that are within SMEs themselves.

Keywords: Bank Financing, FNB, Lesotho, Nedbank, SMEs, Standard Lesotho Bank.
Title: Problems and Prospects of SMES Loan Management: Case of Lesotho
Author: Leseko Makhetha, Polasi Sebolelo
International Journal of Recent Research in Interdisciplinary Sciences (IJRRIS)
ISSN 2350-1049
Paper Publications

Abstract: Internal audit is considered as the backbone of the business accounting as it is the section that scrutinizes all businesses transactions of a company. The main objective of the study is to establish the relationship between Internal Audit Independence and Share performance of firms listed in the Nairobi Stock Exchange. The study adopted a descriptive research design targeting 60 companies quoted in the Nairobi Stock Exchange as of December 2013. The study found existence of significantly positive correlation between internal audit independence and share performance (Pearson correlation coefficient r = .456 Sig. = .011). It is recommended that listed companies should adopt effective corporate governance practices that address key auditing independence for effectiveness of audit department.  This will go a long way to cut or eliminate wastage and thus improve company returns to attract investors in the stock exchange market.

Keywords: Audit committees, Board of directors, Business accounting, Corporate governance, Evaluation, Internal audit, Share performance, Share value, Stakeholders, Stock Exchange.
Title: Internal Audit Independence and Share Performance of Firms Listed In the Nairobi Stock Exchange
Author: Otene Lucas Alwala, Oteki Evans Biraori
ISSN 2350-1049
International Journal of Recent Research in Interdisciplinary Sciences (IJRRIS)
Paper Publications

Abstract:Savings are necessary if investment, and hence economic growth and development are to be stimulated. The paper looks at the broad set of possible determinants of private savings in Lesotho using annual time series data for the period 1980-2010. The paper estimates the saving rate function and Error-Correction modelling is used to avoid spurious results.  The results indicate that public savings are important in explaining changes in private savings, both in the short-run and long-run and that the terms of trade negatively influence private savings in Lesotho in the long-run.

Keywords:  Co integration, Economic Growth, Error-Correction Modeling, Private Savings, Lesotho.
Title: Determinants of Private Savings in Lesotho
Author: KALEBE M. KALEBE
International Journal of Recent Research in Interdisciplinary Sciences (IJRRIS)
ISSN 2350-1049
Paper Publications

Abstract: Coffee farmers are elderly averaging 55 years of age and have a high attachment to coffee farms. Coffee is an important crop to the Kenyan economy as it is the fourth foreign exchange earner. The study was carried out to establish the extent of family attachment to farms and particularly coffee farms. Random sampling procedure was employed to obtain data using structured questionnaires, interviews and focus group discussion on a sample of 227 from a target population of 900 coffee farmers in Kisii County. Research was analyzed at 0.05 level of significance using Pearson Correlation with aid of Statistical Package for Social Science. The research findings showed that 62.1% considered important that farm stayed in family ownership, 70.1% considered farm stays farmed by the family, while 73.8% would wish to continue earning from coffee farms even when they will be old enough to carry out farming. Furthermore 45.4% of the respondents indicated unwillingness of retiring from active farming even at old age.  The study found the mean age of farmers to be 57 years while mean acreage of farms being 1.67 acres. The research findings give information on the level of family attachment on coffee farms and how it may direct extension approach in pursuit of improved coffee production.

Keywords: Family, Coffee, farming and attachment.
Title: Family Attachment to Coffee Farms, a Case of Coffee Farming in Kisii County, Kenya
Author: Javan C. Ngeywo, Anakalo A. Shitandi, Evans A. Basweti, Samson M. Makone, Douglas N. Nyangena
International Journal of Recent Research in Interdisciplinary Sciences (IJRRIS)
ISSN 2350-1049
Paper Publications