Kennedy Munyua Waweru

  • Personal Info

  • Prof. Kennedy Munyua Waweru
  • Contact & Designation

  • Accounting and Finance
  • Professor of Finance, and; Director, Research and Innovation
  • kwaweru@cuk.ac.ke
  • +254 (0) 20 2430127, (0)20 2679456 Ext
  • Mondays and Wednesdays 12.00 - 13.00 Hours,
  • Education

  • Level Qualification Institution Year

    PhD

    PhD in Finance

    Gulu University

    2013

    Masters

    MBA(Finance)

    Egerton University

    2004

    Bachelors

    B.Ed (Science)

    Kenyatta University

    1997

    Level Qualification Institution Year

    Professional Certification

    Certified Investment and Financial Analyst (CIFA) (formerly Certified Securities and Investment Analyst- CSIA )

    KASNEB

    2014

    Short Course

    International Training Workshop on Planning, Building and Management of Science Parks and Business Incubators

    China's Ministry Education Science and Technology

    2011

  • Work Experience

  • Period Institution Position

    October 2025 - Present

    The Co-operative University of Kenya

    Professor of Finance

    August 2017 - October 2025

    The Co-operative University of Kenya

    Associate Professor of Finance

    Jan 2015 - July 2017

    The Co-operative University of Kenya

    Senior Lecturer

    March 2014 - December 2014

    Karatina University

    Senior Lecturer

    December 2012 - March 2014

    Maasai Mara University

    Senior Lecturer

    September 2012 - November 2012

    Mount Kenya University

    Senior Lecturer

    September 2009 - August 2012

    Mount Kenya University

    Lecturer

    September 2006 - August 2008

    Bahir Dar University, Ethiopia

    Lecturer

    January 1998 - August 2006

    Teachers Service Commission- Posted to:
    Rift Valley Institute of Science and Technology, and;
    Athinai Secondary School

    Graduate Teacher/Instructor

  • Research Statement

  • General statement on area(s) of research

    Financial Management and Innovations, Value Chain Finance Capital Markets and Asset Pricing

  • Research Project

  • Title Area(geographic) Funding Body Date

    Green Finance for Kenya

    Kenya

    EU

    2026-2030

    Kenya Country Co-operative Research Project Brief- Enabler and inhibitors of Co-operative membership

    Kenya

    Cooperation Africa

    2026

    Strengthening Producer organizations in Kenya and Tanzania

    Kenya and Tanzania

    Hand in Hand International

    2026

    Tracer study for (KCSE 2022 and 2023 Cohorts) who Qualified but failed to Enroll in Universities - Nairobi Region

    Kenya

    State Department of Higher education and Research (SDHER)

    2025

    Eldoret water and Sanitation Company Chebara - Kapsoya transmission mainline expansion feasibility study and funding plan

    Kenya

    CPF Group

    2024

    Bioeconomy and Circular Economy Fair Network (BioFairNet) Project

    Europe, America & Africa

    EU

    2024-2028

    Kenya Post Drought Disaster Assessment for the (2021-2023) Episode

    Kenya

    USAID

    2024

    Catalyzing Women’s Involvement in Post-COVID-19 Recovery Through Agricultural Cooperatives in Kenya

    Kenya

    IDRC

    2022-2024

    Gender Inclusive Vaccine Ecosystem :Enhancing Distribution and Delivery Systems for Newcastle Disease (ND) and Contagious Caprine Pleuropneumonia (CCPP) among Smallholder Farmers.

    Kenya

    IDRC

    2019- 2023

    Enhancing e-learning using Artificial Intelligence Techniques

    Kenya

    National Research Fund (NRF)

    2018 - 2023

    An assessment of the interactions between equity unit trust funds flow and the Nairobi Securities Exchange market return volatility- Student PhD Research Project

    Kenya

    National Research Fund (NRF)

    2017-2019

    Mobile Money Research Project

    Kenya

    The Co-operative University of Kenya

    2016

    Revenue diversification strategies and resource utilization in Ethiopian public universities

    Ethiopia

    Bahir Dar University

    2007

  • Grants and Projects

  • Project / Programme Title Partner / Agency Dates

    Eldoret water and Sanitation Company Chebara - Kapsoya transmission mainline expansion feasibility study and funding plan

    CPF Financial Services

    2024

    Corporate Strategy Development

    CPF Group

    2023

    Kenya Rural Transformation Centers Digital Platform

    AfDB

    2020-2025

    Book Chapter Writing Grant

    OSSREA

    2011-2013

    Index Based Livestock Insurance Training Manual Development

    ILRI

    2011

  • Publications

  • Journal Title/Name Date of Publication Volume and Pages Internet Link

    East African Journal of Science and Technology

    30/11/2025

    Vol. 14, No 2

    https://doi.org/10.62103/unilak.eajst.14.2.025

    Journal of the Kenya National Commission for UNESCO

    31/07/2025

    Vol. 5(2). July 2025

    https://doi.org/10.62049/jkncu.v5i2.296

    International Journal of Research in Business and Social Science.

    31/12/2024

    Vol 13(9), 274 –285.

    https://doi.org/10.20525/ijrbs.v13i9.3807

    PLoS ONE

    31/08/2024

    Vol 19(8): e0308088

    https://doi.org/10.1371/journal.pone.0308088

    Review of International Cooperation

    30/04/2024

    107/2023- Special issue on the Cooperative Identity

    https://ccr.ica.coop/en/media/library/review-international-cooperation/review-international-cooperation-1072023-special

    Plos One.

    31/03/2023

    Vol 18(3): e0283076

    https://doi.org/10.1371/journal.pone.0283076

    International Journal of Social Economics

    30/09/2022

    Vol 50 (2) 165-179

    https://www.emerald.com/insight/content/doi/10.1108/IJSE-03-2022-0165/full/html

    African Journal of Co-operative Development and Technology

    31/12/2021

    6(2), 73-80

    https://journals.cuk.ac.ke/index.php/12/article/view/63/58

    African Journal of Co-operative Development and Technology

    30/06/2021

    Vol 6(1), 1-10.

    https://journals.cuk.ac.ke/index.php/12/article/view/40

    African Journal of Co-operative Development and Technology

    30/06/2021

    Vol 6(1), 18-27.

    https://journals.cuk.ac.ke/index.php/12/article/view/42

    African Journal of Co-operative Development and Technology

    30/06/2020

    Vol 6(2), 73-80

    https://journals.cuk.ac.ke/index.php/12/article/view/38

    International Journal of Research in Business and Social Science

    31/08/2019

    Vol 8(5) 156-171

    http://www.ssbfnet.com/ojs/index.php/ijrbs/article/view/308/433

    International Journal of Finance & Banking Studies

    03/01/2019

    Vol 8 No. 1 pp 21-36

    http://www.ssbfnet.com/ojs/index.php/ijfbs/article/view/263/278

    International Journal of Finance & Banking Studies

    13/03/2018

    Vol 7 No. 1 pp 13-26

    http://www.ssbfnet.com/ojs/index.php/ijfbs/article/view/15/16

    International Journal of Finance & Banking Studies

    12/11/2017

    Vol 6 No. 6 pp 1-15

    http://www.ssbfnet.com/ojs/index.php/ijfbs/article/view/18/18

    International Journal of Finance & Banking Studies

    31/10/2017

    Vol. 6 No. 6 pp 39-50

    http://www.ssbfnet.com/ojs/index.php/ijfbs/article/view/18/18

    International Journal of Finance & Banking Studies

    15/04/2017

    Vol. 6 No. 3 pp 39 - 50

    http://www.ssbfnet.com/ojs/index.php/ijfbs/article/view/26/27

    International Journal of Business and Management

    26/03/2017

    Vol. 12 No. 4. pp 178 - 185

    http://www.ccsenet.org/journal/index.php/ijbm/article/view/66454/36484

    Journal of Business Studies Quarterly

    31/03/2017

    Vol. 8, No 3 pp 52-64

    http://jbsq.org/wp-content/uploads/2017/03/March_2017_3.pdf

    International Journal of Economics and Finance

    25/02/2017

    Vol. 9, No. 3 pp 257-265

    http://ccsenet.org/journal/index.php/ijef/article/view/66323/36090

    Journal of Economics and Finance

    31/08/2016

    Vol 7, No. 4 pp 72 – 83

    http://www.iosrjournals.org/iosr-jef/papers/Vol7-Issue4/Version-1/H0704017283.pdf

    Journal of Finance and Accounting

    23/07/2016

    Vol 4 No 4 pp 225-233

    http://article.sciencepublishinggroup.com/pdf/10.11648.j.jfa.20160404.18.pdf

    Journal of Business Studies Quarterly

    31/12/2015

    Vol 7, No. 2 pp 2-10

    http://jbsq.org/wp-content/uploads/2015/12/December_2015_1.pdf

    Journal of Business Studies Quarterly

    31/12/2015

    Vol 7, No. 2 pp 221 - 230

    http://jbsq.org/wp-content/uploads/2015/12/December_2015_15.pdf

    Journal of Modern Accounting and Auditing

    30/09/2012

    Vol. 8(9) pp 1371-1380

    www.davidpublisher.org

    International Journal of Business and Management

    16/08/2012

    Vol. 7(16) pp 119-124

    http://ccsenet.org/journal/index.php/ijbm/article/download/16810/13025

    Journal of Business Studies Quarterly

    30/06/2012

    Vol. 3 (4) pp 105 - 118.

    http://jbsq.org/wp-content/uploads/2012/06/JBSQ_june2012_8.pdf

    Journal of Emerging Trends in Economics and Management Sciences

    29/02/2012

    Vol. 3(1) pp 7 - 14

    https://www.questia.com/read/1P3-3112333321/cross-listing-and-dividend-policy-evidence-from-cross

    Journal of Business Studies Quartely

    31/10/2011

    Vol.2 (4) pp.17 - 26

    http://jbsq.org/wp-content/uploads/2011/10/Sep-2011-2.pdf

    Journal of Research in International Business and Management

    14/07/2011

    Vol. 1(5) pp 119 - 123

    http://www.interesjournals.org/full-articles/an-investigation-into-the-cash-balance- management-challenges-in-saving-and-credit-cooperative-societies-saccos-in-nakuru-county-kenya.pdf?view=inline

    International Journal of Business and Public Management

    22/04/2011

    Vol. 1 No.1: 44-59

    http://journals.mku.ac.ke

    Title/Book or Chapter Publication and/or Publisher Editor Date of Publication Page Numbers

    Funding Higher education in Sub-Sahara Africa

    Palgrave, Macmillan

    Damtew Teferra

    31/10/2013 372
    Title Conference Date

    3rd Co-operative Movement Stakeholders Annual Conference and 8th CUK Annual Scientific

    22-24 July 2025

    2nd Co-operative Movement Stakeholders Annual Conference

    Platform Co-operativism Consortium Conference

    6th to 8th November 2024

    1st Co-operative Movement Stakeholders Annual Conference

    13th to 15th June, 2023

    Buttressing Resilience of SACCOs to Shocks.

    9th Technical Committee of Africa Ministerial Cooperative Conference (TCAMCCO)

    23rd -27th May, 2022

    ICIFA 4th Annual Conference

    Investment Strategies in the New Normal

    7th - 8th October 2021

    ICIFA 2nd International Investment Conference

    The Future of Investing

    22nd - 23rd April 2021

    Demutualization, member transactions and financial performance of co-operatives in Kenya.

    ICA Cooperative Research Conference

    November 28-30, 2021

    Effect of measures instituted by SACCOs in response to Covid-19 on member engagement.

    5th CUK 2021 annual Conference

    27-28 July 2021

    Capital adequacy requirements and capital efficiency of deposit taking SACCOs (DTSs)

    5th CUK 2021 annual Conference

    27-28 July 2021

    Relationship between credit risk and loan performance of deposit taking SACCOS in Kenya.

    4th CUK 2020 annual Conference

    27-28 October

    Demutualization, member transactions and financial performance of co-operatives in Kenya.

    4th CUK 2020 annual Conference

    27-28 October

    Does firm size influence the relationship between credit risk and loan performance of deposit taking SACCOS in Kenya.

    4th CUK 2020 annual Conference

    27-28 October.

    Demand Side Energy Management and Customer Behavioral Response in a Rural Islanded Microgrid.

    2020 IEEE PES/IAS Power Africa Conference,

    25-28 Aug. 2020

    2nd ICIFA Annual Conference

    romoting a High Savings and Investment Culture in Kenya and the Region

    March 27th - 29th, 2019

    3rd Annual Co-operative University Conference

    Positioning Co-operatives at the Center of Community Development

    25th - 26th March 2019

    ICIFA Workshop on Derivatives

    Derivatives trading in the NSE

    28th September 2018

    1st ICIFA Conference

    The Growing influence of Alternative Investments with focus on cryptocurrencies and FX Online Trading

    22nd to 24th May 2018

    Mobile money, the symbolism of physical money and emerging dynamics in social relationships among low- income earners in Kenya

    2nd Annual Cooperative University of Kenya Conference on Innovation for Sustainable Cooperative Development

    26th – 27th March 2018

    Writing A Credible Thesis: Methodology and Results.

    St. Pauls University Faculty Research Seminar, at St Pauls University, Limuru, Kenya.

    2nd March 2017

    Users’ Perceptions on the Effectiveness of Enterprise Resource Planning System in Enhancing the Performance of Accounting Information Systems of Public Universities in Kenya

    ICABUMPA- iN4iN Conference.

    27th - 29th October 2015 at the KICC Nairobi, Kenya.

    Revenue Diversification and Resource Utilisation in Ethiopian Universities

    Higher Education Conference in organized by Botswana Tertiary Education Commission

    March 18-20, 2013 Gabarone, Botswana

    Financing of higher education in Africa: A case of Ethiopia public universities cost containment measures

    Management University of Africa 3rd Annual International Conference on Industry and Higher Education

    28th – 30th September 2011 Nairobi Kenya.

    An Investigation into the Cash Balance Management Approaches in Saving and Credit Cooperative Societies (SACCOs) in Nakuru County

    Mount Kenya University Nakuru Campus 3rd Academic Conference

    16th – 17th June 2011, Rift Valley Sports Club, Nakuru, Kenya.

  • Courses Taught

  • Name Description Period

    Financial Management

    Working Capital Management
    Time Value of Money
    Capital Budgeting Decisions
    Corporate Financial Decisions
    Capital Structure
    Mergers and Acquisitions
    Financial Distress
    Dividends Policies and Theories
    Financial Statement Analysis

    2004 present

    Investment and Portfolio Management

    Portfolio risk and return
    Portfolio theory
    Asset Pricing Theories
    Securities Valuation
    Industry and company analysis
    Portfolio planning and construction
    Portfolio performance evaluation

    2006 to present

    Fixed Income Securities Valuation and Analysis

    Fixed-Income Markets: Types of fixed income Securities/instruments Issuance, Trading, and Funding
    Risks associated with fixed income securities
    Valuation and analysis of straight/plain vanilla bonds
    Valuation and analysis of bonds with embedded options
    Term structure of interest rates
    Interest rate volatility
    Fundamentals of Credit Analysis

    2006 to present

    Finance Seminar

    The seminar is focuses on the learner’s ability to research, analyze, synthesize knowledge in various topical areas and present it in a coherent and logical manner. The course exposes learners to the financial management practices and how these relate to finance theory. It also exposes the learner to examination of theoretical and applied models for financial decision making.

    2006 to present

  • Postgraduate Student Supervision

  • Name Institution Qualification Title of Dissertation Period

    Victor M Wambua

    The Co-operative University of Kenya

    PhD

    Social inclusion, legislation and financial performance of agricultural cooperatives in Kenya

    2025

    Bitange Moraa Teresa.

    The Co-operative University of Kenya

    Master of Community Development (MCD)

    Strategies for addressing barriers to women’s participation in agricultural cooperatives in the post-covid-19 recovery period in Kiambu County

    2024

    Dorcas Nyambura Ndegwa

    The Co-operative University of Kenya

    Relationship between credit risk management practices and non-performing loans among deposit taking savings and credit societies in Nairobi County Kenya,

    Master of Cooperative Management(MCM)

    2024

    Munene Cynthia Mukami.

    The Co-operative University of Kenya

    Master of Cooperative Management (MCM)

    The impact of healthcare interventions by agricultural cooperatives on women's socio-economic recovery during the post-covid-19 period in Kajiado County, Kenya.

    2024

    Peter Ochora Mogaka.,

    The Co-operative University of Kenya

    Master of Business Administration (MBA)

    Influence of collective action on access to finance for women smallholder chicken farmers in Makueni County, Kenya.

    2023

    Monica Chepkirui

    The Co-operative University of Kenya

    Master of Cooperative Management (MCM)

    Relationship between capital adequacy requirements and capital efficiency of Deposit Taking SACCOs in Kenya

    2020

    Caroline Ndei

    Karatina University

    PhD

    An assessment of the interactions between equity unit trust funds flow and the Nairobi Securities Exchange market return volatility

    2021

    Victor Wambua

    The Co-operative University of Kenya

    Master of Cooperative Management (MCM)

    Effect of Credit Risk Management on the Loan Repayment Performance for Deposit Taking SACCOs in Kenya

    2018-2019

    Mary Mbugua

    The Co-operative University of Kenya

    Master of Cooperative Management (MCM)

    Influence of Demutualization on the Relationship between Member Economic Participation and Financial Performance of Co-operatives in Kenya

    2018-2019

    Jackson Waweru

    Karatina University

    PhD

    The Influence of Alternative Finance and Conduct on the Relationship between Characteristics and Efficiency of Small and Medium Enterprises in Kenya

    2015 -2018

    Jane Gathigia Muriithi

    Jomo Kenyatta University of Agriculture and Technology (JKUAT)

    PhD

    Effect of Financial Risk on Financial Performance of Commercial Banks in Kenya

    2014 - 2016

    Kaino Bethsy Jepkaintany

    Karatina University

    Masters of Business Management

    Effect of Enterprise Resource Planning System on the Performance of Accounting Information System in Kenyan Public Universities

    2016

    Kimani Beth Wambui

    Karatina University

    Masters of Business Management

    Re-Engineering Investment in Students’ Accommodation Facilities in Public University Through Public-Private Partnerships in Kenya

    2016

    Nzioka Mbinda

    Mount Kenya University

    MBA

    A Critical Analysis of Determinants of the Stock Market Performance on Listed Companies

    2015

    Odhiambo Silas

    Mount Kenya University

    MBA

    Efficacy of Micro Financial Institutions on Growth of Micro and Small Enterprises in Turkana County, Kenya

    2013

    Okerosi Dickson

    Mount Kenya University

    MBA

    The Contributions of Financial Institutions in Promoting Business Enterprises in Turkana County: A Case Study of Lodwar Town, Kenya

    2013

    Kariuki H. K.

    Mount Kenya University

    MBA

    The Management of Public Education Funds by Public Day secondary Schools in Mombasa County

    2012

    Kamau P. K

    Mount Kenya University

    MBA

    Performance of Internet Marketing as a Marketing Strategy in Private Colleges in Mombasa County

    2012

    Wekesa Evans

    Mount Kenya University

    MBA

    Commercialization of Products for Company Y: A University - Industry Initiative in Kenya

    2012

  • Professional Affiliations

  • Organisation Role Period

    Institute of Certified Investment and Financial Analysts (ICIFA)

    Practicing Member

    2014 - Present

    Chartered Institute of Securities and Investment

    Charterd Member

    2019- Present

    Kenya Association of Fund Raising Professionals

    Member

    2024- Present

    Association of Professional Societies in East Africa

    Member, Professional Development and Education Committee

    2019- Present

  • Other Contributions

  • Other Contributions

    Trustee and Chaiman of Finance and Investment Committee of the Co-operative University Staff Provident Fund

    Editor and reviewer of journal articles and conference papers.

    External examiner of PhD dissertations for several universities