The main objective of this study was to determine the key factors that determine the growth of the microfinance institutions. The target population was the people that participated in these MFI’s which in many cases were found to be women groups, middle and low income earners in Voi, however concentration was mainly on the individuals / groups that were registered with the SMEP in Voi.
The method used for this research was exploratory survey. Data collection methods such as questionnaires, observation and interviews were used. Sampling technique was used and results analyzed qualitatively and quantitatively in terms of descriptive statistics. Pie charts, bar charts and frequency distribution tables were incorporated in data presentation. Finally, conclusion on the factors determining the growth of microfinance institutions in Kenya were arrived at and areas for further research pinpointed. Recommendations for better operation and handling of the microfinance were noted