ghanaopendata/ghanaian-research-english huggingface dataset:
Financial appraisal of logging operations in the timber Industry: the case of Naja David group limited

In the recent past, Ghana’s timber industry contributed about 6% of Gross Domestic Product (G.D.P.) employs millions of Ghanaians directly or indirectly and also being a good foreign exchange earner. The industry is currently facing some challenges; the dwindling fortunes of logs which is the main raw material, constant increases in costs of fuel and spare parts, power crisis, and economic crisis leading to loss of markets. There has been less research in this industry to explain why most companies are collapsing. The research took an aspect of the industry – logging operations, to measure the financial efficiency and effectiveness of equipment deployed for operations. The research also sought to evaluate on financial terms whether it would be cost effective to outsource the logging operations. The study employed the Stochastic Frontier Approach (S.F.A.) to assess the performance of equipment used. This is modelled using Cobb-Douglas and Translog costs functions. Using both models provided a comparative dimension to the study. The descriptive summary showed equipment usage is highly variable over the years. The Translog model showed a low level costs performance whilst the CobbDouglas Model showed a high level performance. Financial analysis of logging operations indicated that the group is making and could make more significant savings by insourcing logs. Given the variations in the finding, the research recommends further in-depth research of equipment performance industry-wide. The research also recommends the acquisition of modern equipment and technological expertise to increase recovery and reduce costs. Lastly, it is also recommended that timber companies register FSC Certification to open the foreign markets

Source: KNUST
Financial Appraisal of MTN Sponsored Activities - the case of the Africa Cup of Nations, 2008.

The investment in sponsorship in recent times has grown to a level that one wonders what corporate bodies envisage to achieve, by pumping so much resource in there. There are definitely different reasons why different corporate bodies would invest on different sponsorship platforms. The entry of the MTN in the Ghanaian market has seen a massive investment in the sponsorship of Music and Football activities. One of such investments is the title sponsorship of the 28th Africa Cup of Nations hosted in Ghana in February 2008. This study is aimed at establishing the objectives that under pinned MTN’s investment in the 2008 Africa Cup of Nations, and how these objectives were evaluated, and any lessons there off for sponsors. The sponsorship objectives of MTN were corporate, marketing and media. Qualitative and quantitative targets were set out and evaluated. Data was collected from both primary and secondary sources. The main primary sources were interviews and observation. The secondary sources were management and project reports from MTN. The data was analysed with the use of Microsoft Excel. Emphasis is more on the financial evaluation of the investment in terms of its Net Present Value, Payback, and Return on Investments. There is also analysis of actual performance as against planned targets. It must be noted that the data gathered is under strict confidentiality and should be for academic purposes only.

Source: KNUST
The Financial Challenges Facing Small and Medium Enterprises (SMES) in the Ashanti Region: A Case Study of Kwabre District

There is growing recognition of the important role Small and Medium Enterprises (SMEs) play in economic development. More generally, the development of SMEs is seen as accelerating the achievement of wider economic and socio-economic objectives, including poverty alleviation. However, SMEs are entangled with myriad problems mitigating their growth in Ghana; notable among them are, lack of access to credit. This stems from the fact that SMEs have limited access to capital markets, both locally and internationally, due to perception of higher risk, informational barriers, and the higher costs of intermediation for smaller firms. As a result, SMEs often cannot obtain long-term finance in the form of debt and equity mostly from the formal financial institutions, particularly the commercial banks. This study therefore is to assess the financial challenges facing the financing of SMEs within the Kwabre District of the Ashanti. The study used both primary and secondary sources of data gathered through questionnaires and interviews. The study found that the financial services mostly offered to SME managers and owners were business advice and SME Banking. The main banking services rendered to SMEs are overdraft, trade credit, cash management, and business Advice. The major financial challenges identified included unwillingness of the financial institutions to give credit to the SMEs due to high default rate, poor proper book keeping, attitude of management and monitoring that militate against the SME Banking Unit of the banks were identified. The study recommends that banks should identify the constraints of the SMEs on one-on-one basis and put in strategies to surmount not only financial challenges but technical as well. Also SMEs are advised to be shareholders of the banks so as to push their course through. It is also recommended that a special common fund be constituted for the SMEs by government. A national policy for financing should be instituted, implemented and monitored. It is expected that the government should provide resources to create an incentive scheme for financial institutions to make flexible loans to SMEs in Ghana.

Source: KNUST
Financial Controls, Institutional Quality and Public Funds Management [The case of Municipal, Metropolitan and District Assemblies in the New Juaben South Municipality of the Eastern Region of Ghana]

Prior studies point to the fact that there are no enough studies on the internal controls, institutional quality and funds management within the public financial sector in the sub region and in Ghana. This study therefore situates the context of financial controls on quality of public sector funds management in the presence of mediating roles of institutional specific factors. Results from data analysis of the exploratory survey design adopted through the judgmental sampling technique from a sample size of hundred (100) respondents reveals that existence financial control system, implementation of audit findings, risk assessment of internal control systems, among were found to be significant influential factors of institutional quality. Therefore, these control factors including others that may be derived should form the basis of achieving institutional quality since financial controls can lead to institutional quality and that, institutional specific factors can be relied upon in the realization of the quality of public funds management. The study's conclusions suggest that stakeholders should explore additional financial control practices to improve public funds management quality and as well as exploring institutional specific factors alongside financial control factors to expand the relationship between these factors and the quality of funds management.

Source: KNUST
Financial deepening and economic growth in Ghana

This study examined the relationship between financial deepening and economic growth in Ghana using quarterly time series data from 1983 to 2008. Specifically, it investigated the long-run and causal relationship between financial deepening and economic growth in Ghana using the cointegration, vector error correction (VECM), vector autoregressive (VAR) and Granger causality approaches. The results of the cointegration analysis showed the presence of one long-run relationship among real GDP per capita, credit to private sector to GDP, gross fixed capital formation to GDP and real interest rate. No cointegration was found when financial deepening was measured by M2Y. Capital stock and financial deepening in the long-run model exhibited positive and significant relationship with economic growth (real GDP per capita) except for real interest rate which was negatively related to growth. The results of the Granger-causality test suggested a bi-directional causality between economic growth and financial deepening when the ratio of credit to private sector to GDP was used to proxy financial deepening. Similarly, the study found a bi-directional causality between the share of gross fixed capital formation to GDP and economic growth and between financial deepening and interest rate. However, the direction of causality changed to unidirectional running from economic growth to financial deepening when the ratio of broad money to GDP was used to proxy financial deepening.

Source: KNUST
Financial decentralization and supply of Tracer non-drug consumables in Effiduase District Hospital

The Ministry of Health (MoH) has decentralised some of its functions including planning / budgeting, financial management, and procurement procedures to the district, which is the focus of implementation to correct internal weaknesses and promote effective and sustainable health care operations Management of Non-Drug Consumables (NDC) has of late followed the financial decentralization concept where BMCs are given their own monies in the form of Financial Encumbrance (FE) against their plans and budgets, to procure NDC for use. In addition, a cost-recovery system is introduced to ensure availability and sustainability of these items. The study thus sets itself to assess the level of financial decentralization in relation to supply of TNDC in Effiduase District Hospital by looking at planning/budgeting, financing, and procurement practices to establish the level of autonomy given to the hospital for improvement in the supply of TNDC. The study was quantitative and qualitative, descriptive and cross-sectional, and focussed on planning/budgeting, receipts, generation and disbursement of funds, and examination of the procurement practices in the supply of TNDC. Data collection technique included the administration of both structured and unstructured questionnaire (open-ended and closed) to key informants, use of available information and some observations. The study revealed that, there were shortages of TNDC at the facility even though planning and budgeting were decentralised and the BMC did budget for TNDC. With respect to funding, the study revealed sources as IGF (56%), GoG (38.5%), and DPF (5%) in order of decreasing contribution to the supply of TNDC. Recovery of IGF was as low as about 31%, yet a high disbursement for other things like building a ward (which is noted to be a capital project) was found other than restocking NDC. Financial autonomy was realised at the hospital for both the collection and disbursement of IGF. Even though FE was decentralised and released quarterly, there were a lot of inflexibility including delays, substantial cuts, and sometimes embargoes from spending, and no virement was allowed between two major items except between sub-items under an item. Capitalisation at the RMS for the initialisation of the ‘cash & carry’ of NDC also sustained a cut of about 50%. All these were external administrative restrictions that affected the flow of cash to fund the supply of TNDC. Procurement, on the other hand, was on ad hoc basis and no reorder level was established to curtail shortages. Full autonomy was given to the hospital in procurement, yet the staff had little or no training in the procurement guidelines and policies of the MoH. Unavailability of Revenue Collectors at strategic points to collect TNDC funds could account partly for the low recovery level. In conclusion, even though planning/budgeting, financing, and procurement functions in relation to the supply of TNDC were transferred to Effiduase District Hospital from the centre, resources to undertake these functions were not adequately provided

Source: KNUST
The Financial Determinants of Private Investment in Ghana (1970 – 2010)

This study examines the financial determinants of private investment in Ghana using annual time series data from 1970 to 2010. The model specified was based on the flexible accelerator model following works by Blejer and Khan (1984) and Chhibber and Van Wijnbergen (1988). The estimation technique was based on the Autoregressive Distributed Lag (ARDL) model and the application of the Bounds Testing Procedure to test for the existence of cointegration among the variables. Subsequently, the long run and short run dynamic coefficients were estimated. On the basis of the long run estimates, the results suggested that the real interest rate, credit to the private sector, real exchange rate, inflation rate and real GDP growth rate significantly affected private investment in the long run. The findings further suggested that the real exchange rate, the inflation rate and the real GDP growth rate also significantly determines private investment in the short run. The broad money supply to GDP ratio was however found to have no significant impact on private investment in both the short run and long run. The results suggested the need for intensified supply side policies for continued and sustainable growth rates and macroeconomic stabilization policies that would be aimed at boosting private investment in Ghana. Also recommended are policies that would increase competition among financial institutions and increasing awareness of various lending rates, vis a vis intensifying policies that would eliminate the financing constraints faced by private investors.

Source: KNUST
Financial distress and its determinants; evidence from banks in ghana.

The main objective of this study is to assess the financial distress condition and its determinants of a country’s banks. The study adopts the correlational research design. The research employs a quantitative method because it wants to determine whether there are any important correlations between the variables. The study made use of secondary data. Secondary data sources provide knowledge gathered from previous sources: journal paper searches on the Internet or archives, as well as the financial statements of the banks operating in Ghana. The population from banks operating in Ghana and listed on Ghana Stock Exchange. The study purposely selected 5 banks in Ghana from 2012 to 2021. The study revealed that the majority of Ghanaian banks are not in financial distress. Also, it was revealed that the determining factors of the financial distress condition of banks include profitability and capital adequacy but excluded liquidity. Therefore, the study concludes that the determinants of the financial distress condition of banks include profitability and capital adequacy but excluded liquidity. This tells that firms generating an adequate profit and having healthy capital adequacy will suffer a little from financial distress. Therefore, it is recommended that corporate managers must also set and keep the right levels of liquidity, leverage, profitability, and revenue growth to ensure smooth operation and the organization's continuous survival. The government must also pay special attention to the insurance sector to decrease the likelihood of a financial catastrophe by developing a supportive climate and providing the necessary infrastructure

Source: KNUST
Financial distress related causes of project delays in the Ghanaian construction industry

Construction firms are vital in the provision of infrastructure. Construction activities are capital intensive hence it is required of construction firms to be financially resourced. Many construction firms abandon their projects as a result of the phenomenon of financial distress consequently delay project delivery; a phenomenon that has eluded the radar of construction research. It is in this light that this research is necessary to identify financial distress causes in construction firms with their attendant effect on project delay. The research adopted quantitative methodology by utilizing survey questionnaires to collect data. The key findings of the research include payment issues; project financing issues; cash flow issues; economic issues; political influence and cost control issues. Key recommendations advanced for improving the performance of construction firms as a result of this research consist of clients ensuring sound financial and management practices to meet the financial obligations of construction firms in order not to put them in a financially distressed position; construction firms should be offered tax incentives especially those deemed financially distressed whiles executing projects that are strategic to the economy; construction firms should make claims that are devoid of contentious issues so that their payments will not delay to avoid inflation eroding their financial gains.

Source: KNUST
Financial Development and Agricultural Sector in Ghana: An Econometric Analysis

This study was purposefully carried out to determine the effect of financial development on Agricultural value added as a fraction of GDP. Time series data was employed covering a period from 1961 to 2014. The study also specifically investigated the trend dynamics (short and long run) of financial development and Agricultural value added as a fraction of GDP relationship. For the trend analysis, ARDL Bound test and FMOLS Wald test were used. Three different regression estimators were used for the impact analysis in order to derive a more convincing results. These are; Fully Modified Ordinary Least Square (FMOLS), Autoregressive Distributed Lag (ARDL), and Canonical Cointegration (CCR). The variables employed in this study are Agricultural value added as a fraction of GDP, Broad money supply as a fraction of GDP, Domestic credit to private sector as a fraction of GDP, Agricultural machinery and tractors per Agricultural land and rural population as a fraction of total population. Based on the ARDL coefficient diagnostic test, the result shows, there exist a short-run relationship among the variables and were cointegrated in the long run. Same was the case in the FMOLS Wald test when the variables; Agricultural value added fraction to GDP, M2 fraction to GDP, Domestic credit to private sector fraction to GDP and Agricultural Machinery and tractors per Agricultural land were employed in the model with FINSAP inserted in the model as a deterministic variable. The results from ARDL, FMOLS and CCR all indicated that increased financial development (when Domestic credit to private sector as a share of GDP was used as proxy) leads to a fall in Agricultural value added share of GDP. However with Broad Money Supply share of GDP, it was positively related to Agricultural value added per GDP but significant only in the ARDL estimate. This means, the effect depends on the measure used. These findings concretized the notion that, the best way to improve Agricultural output in Ghana is through subsidy and credit support from Government.

Source: KNUST
Financial evaluation of cocoa mass spraying programme on the revenue generation of the Ghana cocoa board

Cocoa has historically been a key in the economic sector and a major source of export and fiscal earnings to the Ghanaian economy (Bulir 1998; mckay and Aryeetey 2005). Cultivation of cocoa in large quantity started in the 1900 in the country and by the middle 1960s, Ghana was the world’s leading producer of cocoa producing 560,000 metric tons. Cocoa is by far Ghana’s most important crop. It dominates the agricultural sector and is a major source of income for approximately 800,000 farmers and many others engaged in trade, transportation, and processing of cocoa. Due to the massive contribution of the cocoa sub-sector to the socio-economic development of the country, successive governments have formulated various policies to increase the production level of the sub-sector. The National Cocoa Diseases and Pests Control (CODAPEC) programme, popularly known as “cocoa mass spraying programme” was initiated by Government of Ghana through Ghana Cocoa Board. The programme was started in 2001 to provide free spraying of cocoa farms for the farmers in order to control capsids and black pod disease. The National Cocoa Diseases and Pests Control (CODAPEC) Unit was formed to ensure the effective implementation of the project. The aim of the project was to reduce the black pod disease incidence and mired infestation significantly to facilitate increased production of cocoa that would also translate into increasing farmers’ income to enhance the living standard of farmers. It was on this basis that the study sought to identify whether it was worth implementing the Cocoa Mass Spraying Programme. It was found from the study that the programme is enjoying high levels of acceptance from the farmers in the country because it found a significant positive effect of total cost of the programme on the revenue generated which indicates that the programme is financially viable as it yields about 10 times the investment made. The study recommends a continuation of the programme to help boost revenue generation. Also, this study further recommends additional investments into the programme as the study finds a much higher increase in revenue with every cedi of investment in the programme.

Source: KNUST
Financial irregularities and inadequate educational resources in Ghana : a case of secondary schools in Kwahu

The purpose of the study is to analyse the impact of financial irregularities on educational resources of secondary schools in Kwahu zone, eastern region of Ghana. Eighteen (18) out of twenty-one (21) schools in the zone were used for the study. The study adopted both quantitative and qualitative data collection sources. Quantitative data were obtained from the auditor general reports (2014 - 2018) while questionnaire was used to collect qualitative data from thirty-nine (39) school management members, twelve (12) internal auditors and six (6) external auditors. The data collected through the questionnaire were coded and fed into the statistical package for social sciences (spss) software version 26. The study revealed that financial irregularities among the second cycle institutions are caused by management inability to comprehend with all the relevant content of the legal and regulatory framework of school resources and weak internal control systems in the schools. Again, it was revealed that, financial irregularities have contributed immensely to numerous challenges and inadequacy of educational resources facing the schools. These findings suggest that the level of adequacy of school resources will be enhanced if mechanism are instituted to reduce the degree of financial irregularities in the school. It is therefore recommended that, continuous education and training should be given to school management especially headmasters and accountants to be abreast with the applicable laws and regulations governing the use of school resources. This will enable them to do away with the difficulties in comprehending and complying with the financial laws on educational resources.

Source: KNUST