Information communication technology as a strategic tool in micro finance institutions in Kenya
lCT is a key enabler. It has rewritten business rules and transformed business rules and transformed businesses. It has added value to business by reducing costs and improving communication and co-ordination between activities so that they run effectively. The study sort to establish the extent to which lCT is used as a strategic tool in MFls in order to compete effectively and survive in a dynamic and turbulent environment. Microfinance is the supply of loans, savings, money transfers, insurance and other financial services to low income people. Micro finance institutions (MFls) which encompass a wide range of providers that vary in legal structure, mission and methodology offer these financial sources to clients who do not have access to mainstream banks or other formal financial service providers. A census study was carried out; data was collected through a questionnaire method. Questionnaires were administered through mail survey and e-mail. The respond rate was 76%. Findings of the study indicated that all MFls have a vision, mission and a business strategy (100%). The extent to which MFls use lCT for strategic roles such as development of business strategy, marketing, attracting customers, market expansion, provision of better customer service and development of new market was to a great extent .Among the challenges faced by MFl as they embrace ICT is high costs involved and regulatory barriers was not a challenge at all.