School of Business, Economics and management sciences

The Moderating Role of Firm Characteristics on the Relationship Between Equity Financing and Financial Performance of Micro, Small and Medium Enterprises in Nakuru County

Mon, 01 Sep 2025 00:00:00 GMT

The Moderating Role of Firm Characteristics on the Relationship Between Equity Financing and Financial Performance of Micro, Small and Medium Enterprises in Nakuru County Njoroge, Joseph; Mwengei, Ombaba; Wanjala, Arnold Micro, Small and Medium Enterprises (MSMEs) are important drivers of economic development in many countries and thus is a medium of job creation and poverty alleviation. Although equity financing is increasingly recognized as a sustainable financing option for MSMEs, many enterprises in Kenya continue to experience poor financial performance, with high closure rates reported in urban centers such as Nakuru. Existing studies have explored the direct relationship between financing strategies and performance but have paid little attention to the moderating role of firm characteristics. This study therefore investigates the moderating role of firm characteristics on the relationship between equity financing and financial performance of MSMEs in Nakuru County. The study was informed by the financing life cycle of the firm theory. The study adopted an exploratory research design and targeted 7,384 MSMEs operating in Nakuru County. From this population, a sample of 379 enterprises was drawn using stratified and simple random sampling techniques. Data was gathered using a 5-point Likert scale questionnaire. A pilot study involving 37 MSMEs in Eldoret town was conducted to assess the validity and reliability of the research instrument. Validity was examined through factor analysis, while reliability was tested using Cronbach’s Alpha, with coefficients of 0.7 and above considered acceptable. Data was analysed descriptively and inferentially using SPSS Version 23 and presentation employed bar graphs, tables, explanation and pie charts. Findings revealed that equity financing had a positive and significant effect on MSME financial performance (β = 0.147, p = 0.008). Firm characteristics also had a significant influence on financial performance (β = 0.182, p = 0.000). Moreover, the interaction between equity financing and firm characteristics demonstrated a positive moderating effect on financial performance (β = 0.251, p = 0.000). This implies that firm attributes such as production capacity, managerial competence, and operational factors strengthen the contribution of equity financing to MSME growth andsustainability. The study recommends strengthening MSMEs’ internal financial capacity, promoting equity-friendly financing models, and encouraging profit reinvestment alongside modern management and technology adoption to boost performance and sustainability.

MODERATING EFFECT OF ORGANIZATION CULTURE ON SUSTAINABLE GREEN PROCUREMENT PRACTICES AND ORGANIZATIONAL PERFORMANCE OF MANUFACTURING FIRMS IN NAIROBI COUNTY

Wed, 01 Jan 2025 00:00:00 GMT

MODERATING EFFECT OF ORGANIZATION CULTURE ON SUSTAINABLE GREEN PROCUREMENT PRACTICES AND ORGANIZATIONAL PERFORMANCE OF MANUFACTURING FIRMS IN NAIROBI COUNTY MUTAI, DIANA Manufacturing firms in Nairobi County can achieve strong organizational performance characterized by high productivity, efficiency, profitability, and quality standards through sustainable green procurement practices. However, the sector continues to face persistent challenges such as limited technical efficiency, declining GDP contribution, and shrinking market share. Despite contributing 17.30% of total tax revenue, the sector’s technical efficiency remains comparatively lower. Therefore, the main objective of this study was to establish the moderating effect of organizational culture on the relationship between sustainable green procurement practices and organizational performance of manufacturing firms in Nairobi County. The specific objectives were to determine the influence of green product selection practice, green supplier selection practice, and green product lifecycle practice on organizational performance, and to examine the moderating effect of organizational culture on these relationships. The study was guided by Ecological Modernization Theory, Stakeholder Theory, and the Theory of Performance. An explanatory research design was employed, targeting 554 procurement managers across all manufacturing firms in Nairobi County, from which a sample of 232 respondents was obtained using Yamane’s formula. Stratified random sampling was used to ensure representation, and structured questionnaires were employed to collect primary data. A pilot study conducted in Nakuru County tested the instruments for validity and reliability. Data were analyzed using descriptive and inferential statistics through SPSS version 25, where descriptive analysis included means, frequencies, minimums, maximums, and standard deviations, while inferential analysis involved correlation and regression models. The findings revealed that green product selection practice (β=0.165, p=0.002), green supplier selection practice (β=0.226, p=0.001), green product lifecycle practice (β=0.306, p<0.001), and organizational culture (β=0.074, p=0.047) had a positive and significant effect on organizational performance. Moreover, results indicated that organizational culture significantly moderated the relationships between green product selection practice (β=−0.036, p=0.045, R2=0.573, ΔR2=0.019), green supplier selection practice (β=0.049, p<0.001, R2=0.583, ΔR2=0.010), and green product lifecycle practice (β=−0.084, p<0.001, R2=0.593, ΔR2=0.010) with organizational performance. The study concluded that integrating green product selection, supplier collaboration, lifecycle management, and a sustainability-oriented organizational culture enhances manufacturing firms’ performance, cost-effectiveness, and competitiveness while strengthening environmental and social responsibility. Theoretically, the study reinforces the explanatory strength of Ecological Modernization, Stakeholder, and Performance theories by demonstrating that culture-driven sustainability practices significantly predict firm performance outcomes. The study recommends that firms cultivate sustainability-focused cultures, integrate green product, supplier, and lifecycle initiatives, align cultural values with environmental goals, participate in environmental certification programs, provide continuous employee training, and establish partnerships with environmentally responsible suppliers to optimize sustainability performance and long-term organizational success. The study findings provided valuable insights into how sustainable green procurement practices, moderated by organizational culture, influence organizational performance among manufacturing firms in Nairobi County, offering practical implications for managers, policymakers, and researchers.

The Effect of Macroeconomic Determinants on Public Health Expenditure in Kenya

Tue, 01 Apr 2025 00:00:00 GMT

The Effect of Macroeconomic Determinants on Public Health Expenditure in Kenya Nyaboga, Cynthia; Matundura, Erickson; Naftaly, Mose Health spending remains a significant concern in low and middle-income countries due to limited financial resources allocated to the health sector. In Kenya, one of the key objectives of the government's Big Four development agenda, which is targeted for completion by 2022 and partially realized in some counties by 2023, is achieving universal health coverage. Over the years, health has remained a top priority and a focal point in political campaign agendas, with the government consistently investing substantial funds in the sector. A majority of Kenyans rely on public health insurance, while only a small percentage can afford private insurance or out-of-pocket healthcare payments. This has contributed to increased poverty levels and a higher dependency ratio. Despite these efforts, Kenya continues to face challenges in the allocation of public health expenditure. This study aimed to examine the impact of macroeconomic factors on Kenya's public health spending. This study aimed to examine the effects of corruption, unemployment, and tax revenue on public health expenditure in Kenya. The research was anchored on public expenditure theory, and an explanatory research design was adopted. Secondary data from the Kenya National Bureau of Statistics (KNBS) was utilized, covering annual time series data from 1990 to 2023. Stationarity testing was conducted using the Augmented Dickey-Fuller (ADF) test, Phillips-Perron (PP) test, and Kwiatkowski–Phillips– Schmidt–Shin (KPSS) test to check for unit roots. The study employed the Autoregressive Distributed Lag (ARDL) model to assess the relationship among the variables. The long-run ARDL analysis revealed that corruption (-2.231, p-value = 0.002 < 0.05), tax revenue (0.075, p-value = 0.025 < 0.05), and unemployment (0.227, p-value = 0.03 < 0.05) had a significant impact on public health expenditure in Kenya. To enhance prudent public health expenditure, the study recommends strengthening anti-corruption laws, optimizing tax revenue through efficient policies and broadening the tax base to support public services. Addressing unemployment through job creation and investment in education is essential for maximizing labor force utilization and ensuring sustainable public health financing.

MODERATING EFFECT OF ORGANIZATION CULTURE ON HUMAN RESOURCE MANAGEMENT PRACTICES AND EMPLOYEE PERFORMANCE IN PUBLIC UNIVERSITIES IN NYANZA REGION, KENYA

Mon, 01 Jan 2024 00:00:00 GMT

MODERATING EFFECT OF ORGANIZATION CULTURE ON HUMAN RESOURCE MANAGEMENT PRACTICES AND EMPLOYEE PERFORMANCE IN PUBLIC UNIVERSITIES IN NYANZA REGION, KENYA ANDITI, DUNCAN Employee performance is vital for the success of public universities in Kenya. However, many institutions face challenges in achieving satisfactory outcomes despite implementing various Human Resource Management (HRM) practices. This study investigated the moderating effect of organizational culture on the relationship between HRM practices and employee performance in public universities in the Nyanza region, Kenya. Specifically, it examined the effects of recruitment, reward systems, training practices, and human resource planning on employee performance, alongside the moderating role of organizational culture. The study was guided by the Ability-Motivation-Opportunity (AMO) Theory, Human Capital Theory, and the Action Regulation Theory of Career Self-Management. A descriptive research design was employed, targeting 3,129 employees from five public universities. A sample of 355 teaching and non- teaching staff was selected using stratified random sampling. Data was collected using structured questionnaires, and the results were analyzed using SPSS version 23, with hierarchical regression applied to test the hypotheses. The findings indicated that recruitment (β = 0.165, p < 0.05), reward systems (β = 0.478, p < 0.05), training (β = 0.811, p < 0.05), and human resource planning (β = 0.912, p < 0.05) had a significant positive impact on employee performance. Furthermore, organizational culture (β = 0.238, p < 0.05) significantly moderated the relationship between these HRM practices and employee performance. The study concluded that effective HRM practices, when supported by a strong organizational culture, significantly enhance employee performance. The study recommends that public universities improve recruitment by focusing on potential, offer competitive rewards, implement targeted training, and involve employees in human resource planning to boost performance. Future research should explore other potential moderating variables on HRM practices and performance to further enhance institutional outcomes.

EFFECT OF FINANCIAL INCLUSION ON MICRO, SMALL AND MEDIUM ENTERPRISES’ FINANCIAL PERFORMANCE IN BARINGO COUNTY, KENYA

Wed, 01 Jan 2025 00:00:00 GMT

EFFECT OF FINANCIAL INCLUSION ON MICRO, SMALL AND MEDIUM ENTERPRISES’ FINANCIAL PERFORMANCE IN BARINGO COUNTY, KENYA CHERUTO, ALICE Financial sectors that mobilize savings and allocate resources for economic purposes play a pivotal role in fostering financial inclusion (FI). FI provides essential information and discipline for economic agents, enabling effective resource allocation and risk management. This, in turn, influences financial performance. Despite its significance, financial institutions in Baringo County, Kenya, are underperforming, depriving micro, small, and medium enterprises (MSMEs) of the benefits of FI. Consequently, this study aimed to address these challenges by analyzing the effects of financial access, financial usage, clients` bank loans, and clients’ awareness of financial products on MSME performance. The study adopted descriptive and cross- sectional survey designs, guided by Financial Inclusion and Credit Access theories. The target population comprised MSMEs registered and licensed by the Baringo County government. Data were collected from 111 MSME owners/managers across six sub-counties using purposive, stratified, and simple random sampling techniques. A structured questionnaire was used to gather primary data through face-to-face interviews. Data analysis involved descriptive and inferential statistics. Results on financial access indicate that the mean interest rate was 18.5%, while the number of lending institutions and distance to the lending institutions were 4 and 2.46 km, respectively, while 86.5% were requested for collateral, 38.7% had entrepreneurship skills and finance infrastructure. Results on bank loan usage indicate that the mean saving balance was Kshs 67,030, while the number of daily bank transactions and the number of electronic payments to banks were 4 and 6, respectively. Results on the bank loan capacity of clients indicate that financial institutions could meet 86.5% of clients' needs and offer services to 61.3% of clients, with various financial institutions available for lending to MSMEs, while most MSME owners/managers obtained loans from group contributions, accounting for 39.6%. Results on clients’ financial product awareness showed that 91% of the MSME owners/managers were aware of the financial products, 78.4% received guidance on credit access, and 51.4% underwent financial skill training on credit risk management. Regression results on financial access revealed that the number of lending institutions and the entrepreneurial literacy level positively increased performance by 46.5% and 95.1%, respectively, while interest rates decreased performance by 33%. Results on bank loan usage showed that savings balances and the number of daily bank transactions positively increased MSME performance by 98.7% and 108.6%, respectively. Additionally, results on the effects of clients’ bank loan service quality and the range of options available to clients positively influenced financial performance by 182.08% and 156.8%, respectively. Lastly, regression results on the effect of clients’ financial product awareness on MSME performance indicated that guidance on credit access and financial skill training on credit risk management increased performance positively by 258.6% and 144.5%. Therefore, it is recommended that financial institutions implement targeted interventions to address these factors. There is a need for training entrepreneurs to gain financial literacy to assist them in managing MSMEs. Additionally, there is also a need for entrepreneurs to receive training in financial literacy to aid in the management of MSMEs.

MODERATING EFFECTS OF FIRM CHARACTERISTICS ON THE RELATIONSHIP BETWEEN FINANCING SOURCES AND FINANCIAL PERFORMANCE OF MICRO SMALL AND MEDIUM ENTREPRISES, IN NAKURU COUNTY, KENYA

Wed, 01 Jan 2025 00:00:00 GMT

MODERATING EFFECTS OF FIRM CHARACTERISTICS ON THE RELATIONSHIP BETWEEN FINANCING SOURCES AND FINANCIAL PERFORMANCE OF MICRO SMALL AND MEDIUM ENTREPRISES, IN NAKURU COUNTY, KENYA NJOROGE, NJERI Micro, Small and Medium Enterprises (MSMEs) are important drivers of economic development in many countries and thus is a medium of job creation and poverty alleviation. MSMEs financial performance is enhanced by access to equity financing, debt financing and government financing programs which is affected by underlying factors such as inadequate finance, political interference, poor market accessibility, size and low entrepreneurial knowledge. In Nakuru County MSMEs are affected by inadequate funding, political interference and market expansion. It is with this regard that the study sought to explore the moderating effects of firm characteristics on the relationship between sources of finance and the financial performance of MSMEs in Nakuru County, Kenya. The specific objectives were to determine the effect of equity finance sources, the effect of debt financing sources, the effects of government financing programs and the moderating role of firm characteristics on the relationship between equity financing sources and MSME’s financial performance, debt financing sources and government financing programs and MSME’s financial performance. The study was informed by pecking order theory, the trade-off theory and the financing life cycle of the firm theory. The study employed an exploratory research design which assisted in employing questionnaire as a research instrument. The study employed stratified and simple sampling methods. The target population was 7,384 MSMEs in Nakuru County out of which a sample size of 379 was selected. Validity was tested using Rasch measurement model and reliability was tested using Cronbach Alpha where a value ≥ 0.7 was considered reliable. Likert scale of 5 points also was employed to test content validity and a pilot study of 37 MSMEs in Eldoret town was done. Data analysis was enhanced by the use of SPSS Version 23 and presentation employed bar graphs, tables, explanation and pie charts. The data was analyzed through hierarchical linear regression model. The direct effects findings were that equity financing had a positive and significance effects (β=0.147, PV=0.008), debt financing sources had a negative and no significance effects (β=-0.039, PV=0.521), government financing programs had a direct positive and significance effects (β=0.33, PV=0.000) and firm characteristics had a positive and significance effects (β=0.182, PV=0.000) on financial performance of micro, small and medium enterprises in Nakuru County. Firm characteristics were found to have positive effects and significance moderating effects on the relationship between equity financing sources and MSMEs financial performance (β=0.251, PV=0.000), firm characteristics had a negative and no moderating effects on the relationship between debt financing sources and MSMEs financial performance (β=-0.048, PV=0.632) and firm characteristics had a positive and no moderating effects on the relationship between government financing programs and MSMEs financial performance (β=0.006, PV=0.938). Therefore, MSMEs owners and managers should go for equity financing sources for the sources promotes higher profits hence high liquidity and as debt finance and government financing programs source increase, the profit also decreases. Also, management style and production capacity promote MSMEs financial performance. Furthermore, MSMEs in Nakuru should work on operations of the business for it negatively affects financial performance.

Determinants of Energy Consumption in Kenya: A Macroeconomic Perspective

Mon, 01 Dec 2025 00:00:00 GMT

Determinants of Energy Consumption in Kenya: A Macroeconomic Perspective Aburuki, Sharleen; Mose, Naftaly; Matundura, Erickson To achieve reliable and sustainable energy access in Kenya, it is crucial to explore alternatives to traditional biomass and fossil fuels to address the challenges of limited electricity, affordable and clean cooking energy. Using the Autoregressive Distributed Lag (ARDL) technique, this study assessed macroeconomic factors affecting energy consumption in Kenya from 1980 to 2024. The results indicate that interest rates (β = –0.034, p = 0.038) and trade openness (β = –0.015, p = 0.006) negatively impact energy consumption, while foreign direct investment (FDI) has a positive effect (β = 0.020, p = 0.029). Economic growth and inflation were found to be statistically insignificant. Short-term energy consumption is characterised by inertia, driven by the immediate effects of interest rate fluctuations and trade liberalisation. Initially, FDI seems to reduce energy use due to project delays. The study concludes that structural and external factors— specifically FDI, interest rates, and trade openness—play a more significant role in energy consumption than economic growth or inflation. Recommendations include promoting energy-efficient investments through green FDI and aligning monetary policy with energy objectives.

Determinants of Energy Consumption in Kenya: A Macroeconomic Perspective

Mon, 01 Dec 2025 00:00:00 GMT

Determinants of Energy Consumption in Kenya: A Macroeconomic Perspective Aburuki, Sharleen; Naftaly, Mose; Matundura, Erickson To achieve reliable and sustainable energy access in Kenya, it is crucial to explore alternatives to traditional biomass and fossil fuels to address the challenges of limited electricity, affordable and clean cooking energy. Using the Autoregressive Distributed Lag (ARDL) technique, this study assessed macroeconomic factors affecting energy consumption in Kenya from 1980 to 2024. The results indicate that interest rates (β = –0.034, p = 0.038) and trade openness (β = –0.015, p = 0.006) negatively impact energy consumption, while foreign direct investment (FDI) has a positive effect (β = 0.020, p = 0.029). Economic growth and inflation were found to be statistically insignificant. Short-term energy consumption is characterised by inertia, driven by the immediate effects of interest rate fluctuations and trade liberalisation. Initially, FDI seems to reduce energy use due to project delays. The study concludes that structural and external factors— specifically FDI, interest rates, and trade openness—play a more significant role in energy consumption than economic growth or inflation. Recommendations include promoting energy-efficient investments through green FDI and aligning monetary policy with energy objectives.

SUPPLY CHAIN COST OPTIMIZATION, INFORMATION SHARING AND COMPETITIVENESS OF FOOD AND BEVERAGE MANUFACTURING FIRMS IN UASIN GISHU COUNTY, KENYA

Wed, 01 Jan 2025 00:00:00 GMT

SUPPLY CHAIN COST OPTIMIZATION, INFORMATION SHARING AND COMPETITIVENESS OF FOOD AND BEVERAGE MANUFACTURING FIRMS IN UASIN GISHU COUNTY, KENYA KIPTOO, RACHEL JEROTICH The food and beverage processing sector in Kenya are vital to the national economy due to its role in job creation and its contribution to GDP. However, its competitiveness has faced challenges stemming from high operational costs and inefficient supply chain processes. This study examined the moderating effect of information sharing on the relationship between supply chain cost optimization and the competitiveness of food and beverage manufacturing firms in Uasin Gishu County, Kenya. Specifically, the study investigated how inventory management, strategic sourcing, adoption of technology, and logistics costs influence firm competitiveness, and how information sharing moderates these relationships. The study was guided by the Resource-Based View Theory, Lean Manufacturing Theory and Information Sharing Theory. An explanatory research design was adopted, targeting 924 departmental staff across 22 food and beverage firms. A sample of 279 respondents was selected using Yamane’s formula and simple random sampling employed. Data was collected through structured, closed-ended questionnaires, and a pilot study in Nakuru County was conducted to validate the research instrument. Data analysis was performed using SPSS version 25, incorporating both descriptive and inferential statistics, including correlation and hierarchical regression analyses. Findings revealed that inventory management (β1 = 0.152, p = 0.004), strategic sourcing (β2 = 0.173, p = 0.001), adoption of technology (β3 = 0.232, p = 0.001), and logistics cost (β4 = 0.300, p = 0.000) significantly and positively influenced competitiveness. Furthermore, information sharing significantly moderated the relationships between inventory management (β = -0.103, p = 0.002), strategic sourcing (β = 0.059, p = 0.010), technology adoption (β = 0.087, p = 0.009), and logistics cost (β = -0.182, p = 0.002) and competitiveness. The study concluded that effective supply chain practices, enhanced by robust information sharing mechanisms, play a critical role in strengthening firm competitiveness. The study recommends that food and beverage firms adopt modern inventory systems, invest in advanced technologies with adequate employee training, foster long-term supplier relationships, and optimize logistics through lean practices. Importantly, firms should institutionalize information sharing to enhance coordination, responsiveness, and strategic alignment across supply chain functions, ultimately boosting competitiveness and performance. The study's findings would be valuable to food and beverage manufacturing firms by informing managers on optimizing limited resources for competitive advantage through supply chain cost efficiency, guiding the Ministry of Trade in policy formulation within Kenyan borders, and contributing to the broader academic discourse in supply chain management.

EFFECT OF MACROECONOMIC DETERMINANTS ON COUNTY GOVERNMENTS’ INDEBTEDNESS POST-COVID-19 PERIOD IN KENYA

Wed, 01 Jan 2025 00:00:00 GMT

EFFECT OF MACROECONOMIC DETERMINANTS ON COUNTY GOVERNMENTS’ INDEBTEDNESS POST-COVID-19 PERIOD IN KENYA KIPROP, RUTH JEPCHIRCHIR The indebtedness of county governments in Kenya played a critical role in shaping post- pandemic economic stability and development, influenced by several macroeconomic factors. While borrowing helped sustain county operations and resilience during the COVID-19 period, it also amplified fiscal vulnerabilities, including declining tax revenue, rising corruption levels, and increased reliance on credit. Many counties entered a debt cycle exacerbated by high-interest loan borrowing. Between 2020 and 2023, county government expenditures surged to 28% of GDP, rising further to approximately 32.1% by the 2023/2024 financial year. Simultaneously, corruption levels, measured by the average size of bribes paid to access public services, increased from Ksh 4,600 in 2019 to Ksh 7,800 in 2021 and remained high at Ksh 7,300 through 2023. This persistent rise in corruption undermined public trust, inflated the cost-of-service delivery, and likely escalated borrowing as counties struggled to fill widening fiscal gaps. In the same period, county own-source revenues, measured as a percentage of total revenue, declined, with many counties reporting shortfalls. As of the first half of the 2023/2024 fiscal year, county governments had accumulated pending bills totalling Ksh 156.34 billion. The study’s overall objective is to examine the effect of macroeconomic determinants on county governments’ indebtedness in post-COVID-19 Kenya, focusing on economic growth, tax revenue, government expenditure, and corruption levels. Anchored on the Keynesian Consumption Theory and Debt Accumulation Theory, the study employed a descriptive and explanatory research design using panel secondary data from 47 counties for 2020/2021 to 2023/2024. Analysis involved descriptive statistics, Pearson correlation, and panel regression .The descriptive statistics indicated that, on average, GDP growth stood at 3.4%, tax revenue at 17.2%, county governments’ expenditure at Ksh 53.9 billion, corruption levels at Ksh 23,500, and county governments’ indebtedness at Ksh 2.18 billion between 2020 and 2024. Pearson correlation analysis revealed that county debt was positively associated with GDP growth (r = 0.492), tax revenue (r = 0.427), government expenditure (r = 0.668), and corruption (r = 0.354). To determine the appropriate model, the Breusch–Pagan Lagrange Multiplier (LM) test was conducted, which rejected the null hypothesis that Pooled OLS is sufficient (LM = 27.386, p < 0.001), suggesting that panel data models RE was more suitable. The F-test for Fixed Effects also rejected the null hypothesis that all county-specific intercepts are equal (F = 12.45, df = 46,138, p < 0.05), confirming the presence of significant county-specific effects and the inadequacy of the Pooled OLS model. The Hausman Specification Test (H = 11.752, df = 4, p = 0.05) rejected the null hypothesis, indicating that county-specific effects were correlated with the regressors. This led to the selection of the Fixed Effects (FE) model as the preferred specification. The Fixed Effects model revealed that government expenditure (β = 0.1724, p < 0.01) and corruption (β = 0.2611, p < 0.05) had positive significant effects, tax revenue had a positive significant effect (β = 0.2982, p < 0.05), and GDP growth was statistically insignificant (β = -0.0284, p = 0.05). The study concludes that excessive spending and corruption are the main drivers of post-COVID-19 county indebtedness. It recommends enhancing fiscal discipline, enforcing strict expenditure controls, strengthening anti-corruption measures, and improving own-source revenue mobilization to reduce debt reliance and ensure sustainable county financing.