Dr. Kalunda Elizabeth Nthambi


Dr. Elizabeth Kalunda- Muvui is an Assistant Professor at the United States International University- Africa (USIU-A), in the Chandaria School of Business in the area of Finance and Accounting. She previously served at the Institute of Certified Public Accountant of Kenya in various positions as, Training Manager, Head of Technical Training and Project Co-coordinator-World Bank-IDF. She has also served as the Associate Director at JMG Strategy Innovations Ltd in charge of Business Research. She has also worked at Dedan Kimathi University of Technology, Government Training Institute and Teachers Service Commission.

Dr. Kalunda is a seasoned consultant, facilitator and researcher and has been involved in research in the area of Corporate Finance, Corporate Governance, Women Economic Development and Banking Outreach. She has trained various groups in design thinking, business development, business plans and innovations.

Dr. Kalunda is a member of the Institute of Certified Public Accountants of Kenya (ICPAK), Audit Committee Member of Nairobi County Government and Board of Directors of Kasarani Technical and Vocational College and a Board member in a number of Secondary Schools in Kenya

Academic Degrees;

  • Doctor of Philosophy, Business Administration, Banking Specialization, University of Nairobi.
  • Masters in Business Administration (M.B.A) Accounting option, University of Nairobi.
  • Certified Public Accounting - CPA (K).
  • Bachelor of Education, Moi University


Journal Articles;

Kalunda, E and Ogada, A. (2018), Financial Inclusion Using Traditional banking Channels and its relationship on Financial Performance of Commercial Banks in Kenya, The University Journal, A Doctoral of Eastern Africa (DAEA) Publication.

Ogada, A and Kalunda, E. (2017), Impact of Rights Issue on Share Returns of Firms Listed on The Nairobi Securities Exchange, Kenya, IOSR Journal of Business and Management.

Kalunda, E (2014), Financial Inclusion Impact on Small-Scale Tea Farmers in Nyeri County, Kenya, World Journal of Social Sciences Vol. 4. No. 1. March 2014 Issue. Pp. 130 – 139

Muthama, C., Mbaluka,P. and Kalunda, E. (2013). An Empirical Analysis of Macro-Economic Influences on Corporate Capital Structure of Listed Companies in Kenya, Journal of Finance and Investment Analysis, vol. 2, no.2, 2013, 41-62 ISSN: 2241-0998 (print version), 2241-0996(online) Scienpress Ltd.

Aduda, J. and Kalunda, E., (2012). Financial inclusion and financial sector stability with reference to Kenya. Journal of Applied Finance & Banking, vol. 2, no. 6, 2012, 95-120 ISSN: 1792-6580 (print version), 1792-6599 (online) Scienpress, 2012.

Kalunda, E.N., (2012) Corporate Social Reports of Firms Listed in the Nairobi Securities Exchange, Kenya European Journal of Business and Management,Vol 4, No.8.

Kalunda,E.N. Mbaluka. P., (2012), Test of Endowment and Disposition Effects under Prospect Theory on Decision-Making Process of Individual Investors at the Nairobi Securities Exchange, Kenya. Research Journal of Finance and Accounting, Vol 3, No 6.

Kalunda, E.N., Nduku B, Kabiru, J. (2012), Pharmaceutical Manufacturing Companies in Kenya and Their Credit Risk Management Practices. Research Journal of Finance and Accounting, Vol 3, No 5.


Reviewed a book titled FOCUS by Alex Granger a South African based international Motivational Speaker.


Corporate Finance; Managerial Accounting, Accounting for Non-accountant; Financial Accounting, Introduction to Research methods; International Financial Markets and Managerial Finance.

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