ghanaopendata/ghanaian-research-english huggingface dataset:
Financial literacy and retirement planning of employees in Ghana Immigration Service

The financial systems of the 21st Century have been growing with speed, sophistication and becoming more complex world over. Per this, the economic and social environment in which people take financial decisions has also changed drastically. This has increased individual employees’ responsibility in managing their own finances and securing their financial freedom. The study examined the relationship between financial literacy and retirement planning of employees in Ghana Immigration Service. The quantitative research design was employed. Stratified random sampling method was used to sample a total of 400 respondents. Data obtained from respondents were coded and analyzed with Statistical Product and Service Solutions (SPSS) version 21. Questionnaires were employed in the collection of data to address the research objectives. The data were personally collected by the researcher after explaining the purpose and assuring respondents of confidentiality. The study discovered high levels of financial literacy among employees of Ghana Immigration Service. They were knowledgeable about personal budget, use of ATM, wrong debit, bank account interest, loan interest, bounced cheque and purchasing power of money driven inflation. The study further discovered a positive effect of financial literacy on retirement planning and preparation. Thus, as the financial literacy of the employees with the Ghana Immigration Service increased, it corresponded with their retirement planning and preparations. It therefore recommends that employees are periodically advised by financial experts and analysts during meetings on the benefits inherent in utilizing one’s financial knowledge since it has an impact on the overall wellbeing.

Source: UCC
Financial Literacy and Retirement Planning of Health Sector Workers in the Abura-Asebu Kwamankese District Hospital

This study investigates the relationship between financial literacy and retirement planning of health sector workers in the Abura-Asebu Kwamankese District Hospital. The research employed a quantitative research design and utilized the Statistical Package for the Social Sciences (SPSS) 22 for data analysis. The study had five key objectives: (1) to examine the financial literacy levels of health sector workers, (2) analyze gender differences in financial literacy, (3) determine the retirement planning behavior, (4) analyze educational differences in retirement planning, and (5) ascertain the relationship between financial literacy and retirement planning. The findings revealed that the health sector workers exhibited a moderately high level of financial literacy, with male workers scoring higher than their female counterparts. However, the study also found a relatively low level of retirement planning behavior among the participants, with disparities based on educational attainment. Individuals with higher levels of education demonstrated more proactive retirement planning practices, such as contributing to formal savings plans and developing written retirement strategies. The regression analysis indicated a moderate, yet statistically significant, relationship between financial literacy and retirement planning. While financial literacy was a significant factor, the study also highlighted the presence of other influential variables not accounted for in the model. The study's conclusions suggest the need for targeted interventions and educational programs to address the gender and educational gaps in financial literacy and retirement planning within the healthcare sector.

Source: UCC
Financial Literacy and Retirement Planning of Senior and Junior Staff of the University of Cape Coast

The current state of the global economy has made financial literacy more important as without the right financial knowledge, one can make a wrong decision that can lead to a financial slump. The purpose of the study was to assess the level of financial literacy among the senior and junior staffs of the University of Cape Coast and its effects on their retirement planning. The study was grounded by the expectancy and the financial literacy theories. This study employed the descriptive research design and it was approached quantitatively. The convenience sampling technique was used to select 160 responses from the junior and senior staffs of the University of Cape Coast via questionnaire. The study used IBM SPSS v26 and SmartPLS v4.0 to process the valid and reliable data. The key findings are: there was a moderate level of financial literacy among staff of the University of Cape Coast. Subjective financial knowledge, financial awareness, and financial skills had a statistically positive and significant influence on retirement planning. However, financial behaviour had a statistically positive but insignificant influence on retirement planning. The study recommends that management of the University organize workshops, seminars and other avenues to educate their staffs on the importance of interest rates, financial matters (awareness creation) and the various investment vehicles available to them to serve as a supplement to their retirement income. The research also recommends that University employees should actively participate in financial planning in order to improve their financial literacy.

Source: UCC
Financial Literacy and Retirement Planning of Workers in Mfantseman Municipal Assembly

For both rich and developing nations, including Ghana, financial literacy is critical in retirement planning. As a result, the economic and social climate in which individuals make financial choices has changed. This has enhanced individual employee financial responsibility and financial independence. The research focused on financial literacy and retirement planning for Mfantseman Municipal workers. The study used a quantitative research method. The research sampled 201 people using stratified random sampling. 96.71 percent responded. A systematic questionnaire was used to gather primary data. In terms of the study's issue, the questionnaire met all research goals. Inferential analysis was done using resgression analysis, whereas descriptive analysis utilized percentage distributions to explain phenomena. The research found that employees in Mfantseman Municipality were highly financially literate. The research also showed a gender difference among pensioners in the town. The research also found a link between financial literacy and retirement planning. Finally, financial knowledge influences employees' retirement planning. This implies that as workers' financial knowledge grows, so does their desire to prepare for retirement. The research suggests that workers be reminded of the significance of financial understanding by social welfare and other financial specialists and analysts during meetings.

Source: UCC
Financial literacy and saving behaviour among Teaching and Non-Teaching Staff of Swedru School of Business

The aim of this study was to compare the financial literacy and saving behaviour among teaching and non-teaching staff of Swedru School of Business. A total of 194 staff comprising of one hundred and twenty-five (125) teaching staff and sixty-nine (69) non-teaching staff were selected for the study. Data was collected through the use of questionnaire. Based on the findings it was established that teaching staff exhibited knowledge on personal finance and knowledge on insurance than non-teaching staff. However, non-teaching staff had knowledge on savings and borrowings, knowledge in retirement planning and exposure to financial and monetary issues than teaching staff. In terms of general knowledge on personal finance, knowledge in savings and borrowings, knowledge on retirement planning and knowledge in insurance, males showed much knowledge than females. It was also confirmed that gender, age, marital status and educational level are determinants of financial literacy. The study recommended that workshops should be organised by Welfare Committee of Swedru School of Business on personal finance; so as to ensure prudent and efficient personal financial management practices especially, among the non-teaching staff.

Source: UCC
Financial literacy of small business owners, financial records keeping and enterprise performance in the Tarkwa-Nsuaem municipality

The purpose of the study was to examine financial literacy of small business owners, financial records keeping and enterprise performance in the TarkwaNsuaem Municipality of Ghana. Financial literacy level and operating performance of those enterprises as a measure of business economic performance was examined. In addition, the study examined financial records kept by small business owners. It was an explanatory study which employed quantitative methodology and survey strategy. Findings were based on responses from 120 small business owners, comprising 60 retailers, 30 artisans and 30 food manufacturers. Data was analyzed using Descriptive Statistics, Index Pool, Chi-square Test for independence, Independent Sample T-Test and Linear Regression. The study revealed that there is a weak positive correlation between the financial literacy and performance of small business enterprises. It came out from the results that most small business owners are confronted with some complicated financial decisions in running and managing their businesses. Most small business owners’ lack of knowledge, skill and attitude to manage the finances of their organization in a professional way poses a significant obstacle to performance growth of sustainable small scale enterprises. Finally, it can be concluded that the financial literacy of small business owners have a significant influence on small business performance. Developments in the financial markets make financial literacy increasingly important for financial well-being. Therefore, in order to boost the financial literacy of small business owners within the municipality, policy makers should specifically design programs and workshops targeted at further enhancing the financial literacy levels of these owner-managers.

Source: UCC
Financial Literacy, Access to Digital Finance and Performance of Smes in Selected Commercial Areas in The Central Region of Ghana

ABSTRACT The study assessed the relationship between financial literacy, digital finance and SMEs' performance in commercial areas of the Central Region. The specific objectives were to analyse the level of knowledge and use of digital platforms by SMEs; assess the relationships between financial literacy and access to digital finance; assess to digital finance and performance of SMEs. It was also to analyse the mediating effect of access to digital finance on the relationship between financial literacy and performance of SMEs. Using a quantitative research approach data was gathered from 400 SMEs in Cape Coast, Mankessim, Assin Fosu, Agona Swedru and Kasoa. Self-administered questionnaires were shared and a purposive sampling technique was employed. Using SPSS to test descriptive statistics, results from objective one indicates that, managers of SMEs in the study areas have more knowledge and utilize Mobile Money more than any of the country's digital platforms. The relationships between financial literacy, access to digital finance and SMEs' performance were assessed using PLS-SEM. Financial literacy was found to have a positive and significant impact on access to digital finance and access to digital finance also had a positive and significant impact on performance. Lastly access to digital finance partially mediates the relationship between financial literacy and SMEs' performance. This means, access to digital finance is just as important as having financial knowledge in terms of improving performance, therefore using digital platforms to trade would enhance firm performance. Digital trading platform providers should enhance their advertising and focus on making their platforms easy to use for the average consumer

Source: UCC
Financial Literacy, Access to Finance and Livelihoods in the Hohoe Municipality: A Study of the Intervention by Plan International Ghana

Financial literacy is crucial in the current economy and delivering it in a savings group setting can be more effective than traditional classroom methods. Plan International Ghana aims to improve access to finance and livelihoods by providing financial literacy education. Thus, this initiative serves as an intermediary in offering financial literacy education. This study assessed Plan International Ghana's initiative on promoting financial literacy, access to finance, and livelihoods in the Hohoe Municipality of Ghana. The study employed a cross-sectional design. In addition to selecting field officers for key informant interviews, a sample size of 310 beneficiaries was generated using a simple random sampling technique based on Krejcie and Morgan's (1970) sample size determination table. Descriptive statistics, regression analysis and SEM were used to analyse the quantitative data with the assistance of SPSS software and Stata version 14, while the qualitative data were analysed thematically. The findings of the study indicated that, beneficiaries within 20-29 years displayed the highest scores of financial literacy, as well as those who have been beneficiaries for a longer period of time. The conclusion was that, exhibiting and putting the financial literacy knowledge to use is essential to increasing access to finance and that, financial literacy alone is not enough to improve livelihoods among beneficiaries. Thus, it was recommended for beneficiaries take advantage of the peer learning and support networks provided by Plan International, actively engage and practically apply lessons crucial for improving financial literacy and behaviour.

Source: UCC
Financial literacy, financial behaviour and savings behaviour among owner-managers of small and Medium-scale enterprises in Awutu Senya East District

Financial literacy and behaviour have attracted increasing attention in both the developed and developing world due to its role in financial decision and their influence on savings habits of Small and Medium Enterprises (SMEs) owners. This study examined the influence of financial literacy, financial behaviour on savings habits of SMEs owners in the Awutu Senya District of Ghana. The study used across-section data set within a descriptive research design. The study employed quantitative approach in the study and data collection was done using questionnaire. A total of 201 SMEs owners were selected using censes method. Analyses of the data were done by using both descriptive and influential analyses. The study revealed that financial behaviour has positive influence on savings habit of SME owners. In addition, financial literacy has positive influence on savings habit of SMEs owners. Furthermore, the study revealed that age of the SME owners has positive influence savings habit of SME owners. Finally, educational level of the SME owner is also positively related to savings habit of the SME owners. The study therefore recommends that government and NBSSI must offer financial education to SME owners which will help their business operations. Also, National Commission for Civic Education should establish Financial Literacy Information Sharing Group to provide financial literacy education to SMEs owners. Also, government should set up special financial institutions that will cater for the financial needs of SME owners by giving soft loans in order to expand their business.

Source: UCC
Financial Literacy, Financial Inclusion and Economic Empowerment of Women Micro-Entrepreneurs in Accra Metropolis, Ghana: Moderating Role of Social Network and Patriarchal Culture

This study scrutinises the effect of financial literacy and financial inclusion on the economic empowerment of women micro-entrepreneurs in Ghana. It also examined the moderating role of social networks as well as patriarchal culture on women micro-entrepreneurs‘ economic empowerment. The investigation utilized positivist philosophy, quantitative approach, cross-sectional study design and explanatory research design. Structured questionnaires were administered to a sample of 480 women micro-entrepreneurs from three sub-metros of Accra Metropolis, Ghana. The data was analysed utilizing the PLS-SEM (version 4) algorithm for inferential statistics. The outcomes of the investigation discovered that financial literacy positively influenced the economic empowerment of women micro-entrepreneurs. Also, social networks positively moderated the connection amid financial awareness as well as economic empowerment. Again, social networks positively moderated the relationship between usage and economic empowerment. Financial inclusion significantly and positively influenced the economic empowerment of women micro-entrepreneurs. Patriarchal culture negatively moderated the relationship between usage and economic empowerment. However, patriarchal culture did not significantly moderate the relationship between financial literacy and economic empowerment. The study recommended that policy makers intensify financial literacy, financial inclusion and social network programmes. Also, women's advocacy groups should sensitise the populace on the negative effects of some patriarchal cultures on women micro-entrepreneurs in Ghana.

Source: UCC
Financial Literacy, Financial Inclusion and Performance of Micro-Enterprises in the Cape Coast Metropolis, Ghana.

Financial literacy and financial inclusion are essential for micro businesses' sustainable growth and expansion. The inability of the managers/owners to make prudent financial decisions can compromise the performance of their businesses. To this end, the study examined the effect of financial literacy on the performance of micro-enterprises in the Cape Coast Metropolis. The human capital, theory of planned behaviour and resource-based theories underpinned the study. The study used a quantitative approach involving 167 micro-enterprise managers/owners sampled from 508 registered members in the Cape Coast Metropolis. The level of financial literacy was analysed using criterion analysis. Precisely, descriptive statistics were used. The study found that micro-enterprise managers/owners in the Cape Coast Metropolis have low level of financial literacy. There was low performance of micro enterprises. Regarding financial inclusion, the evidence shown that the respondents access the financial various products and services. It evident that financially literate micro enterprise managers/owners were more financially included and access the financial products and services. Finally, it became evident that financial literacy has a positive effect on the performance of micro-enterprises. In conclusion, financial literacy improves the performance of micro-enterprises. As a result, it is recommended that micro-enterprise manager/owners should be more educated on financial literacy to help them become abreast with the basic financial concepts and practices in financial decision-making to spur growth and expansion of business activities.

Source: UCC
Financial literacy, microfinance, and performance of artisanal fishermen in Elmina fishing community

The growth of Ghana’s fishing sector has been spectacular in the past years leading to the sector generating more than GHS1billion in revenue annually and accounting for 4.5 percent of Ghana’s GDP while creating employment for about 210,000 people directly in the sector. However, the financial literacy of the fishing community in Ghana is reported to be low with an unimpressive performance. The study investigated the relationship between financial literacy, microcredit, and performance of artisanal fishermen in Elmina fishing community of Ghana by employing Partial Least Square Structural Equation Modeling. A survey of 214 randomly sampled fishermen was conducted using a standard questionnaire to provide empirical answers to the underlying questions of this study. The study showed that there is a positive effect of financial literacy on financial well-being. The results further indicated that fishermen with poor financial knowledge and financial wellbeing lead to their inability to acquire credit facilities from microcredit institutions. Regression estimation results reveal that there is a positive and significant effect of financial behaviour on the performance of fishermen. The study recommended that the Ministry of Fisheries should put in place programmes that will improve the financial education of fishermen.

Source: UCC
Financial management in secondary schools in the Nzema - East district - the dilema of headmasters

Financial management in schools is bedevilled with challenges and so are rated low in terms of the administrative functions of headmasters in the district. This is a diagnostic study of the dilemmas that heads of schools face in financial management in secondary schools of the Nzema-East District. One hundred respondents expressed their views on the subject. Four sets of questionnaire and an interView guide were adopted as the main instruments for the study. Nine major questions were spread across all the four sets of questionnaire. The interview guide contained 13 major questions. The researcher applied Cronbach's Alpha to ascertain the reliability of the 9 main items of the questionnaires and the result was .743. The study analysed levels of exposure to capacity-building training in financial management by heads, effective use of regulations and the perception of heads' management of school funds among others. Evidence from the study suggests that dilemmas were rife in financial management for heads. Heads' inability to train, poor payment and embezzlement of fees, stalled information on finances to school personnel especially the financial standing of the schools, audit reports, poor payment of fees and unsound practices in financial management were predominant. With money still very difficult to come by and in order to maintain the confidence of stakeholders and well-wishers to commit funds to teaching and learning as well as infrastructural development, it is recommended that the Ghana Education Service should intensify the training of headmasters to enable them adopt good practices in financial management in the schools.

Source: UCC
Financial management practices and Healthcare Delivery: Evidence from Oda Government Hospital

The study aims to assess the financial management practices of Ghana Health Service. The specific objectives were to evaluate the effect of budgeting on healthcare delivery, to identify the effect of financial accountability on healthcare delivery and also determine the effect of financial controls on healthcare delivery. The study adopted the survey design. A sample size of 69 out of the population of 223 staff in Akim Oda Government Hospital was used. The instrument used for data collection was a self-administered questionnaire. The statistical technique used to analyse the objective was regression technique. The study found that budgets are consistent with the dictates of the accounting and financial management principles in Oda Government Hospital. The study also observed that financial accountability is fairly high in the Oda Government Hospital. The study indicated that overall, financial control is high in the financial management practice of the hospital. It is however recommended that the management of the Oda Government Hospital draws up a plan to monitor the work progress and performance of all staff of the hospital and reduce the period for evaluation to half of the present period. The Hospital management should draw up a plan to review their financial management practices from time to time to meet international standards and also, management of the Oda Government Hospital should work to maintain and improve their financial control in order to meet the strength of the budgetary practices and financial accountability.

Source: UCC