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Effect of Financial Risks on Financial Performance of Listed Commercial Banks in Rwanda
No full textFinancial risk influences the financial performance of commercial banks as the business of banks is all about taking risks and when a bank takes measured risks which can monitor, control, and manage, it affects tremendously its performance. This research aimed at examining the effect of financial risks on financial performance among listed commercial banks in Rwanda. The study used correlation design with a quantitative approach while the sample size was 363 respondents. Data was analyzed through descriptive statistics and inferential statistics (correlation and regression analysis). Results showed that liquidity risk has no significant effect on the financial performance of listed commercial banks (β=.084, p>.05). However, it is observed that credit risk has a significant effect on the financial performance of listed commercial banks (β=.774, p<.05). Similarly, market risk is observed to have a significant effect on the financial performance of listed commercial banks in Rwanda (β=.287, p<.05). It is recommended that there is need promote financial resilience among listed commercial banks in Rwanda by encouraging diversified funding, proactive risk management, adaptive lending strategies, strong financial practices, collaborative deposit protection, nuanced risk understanding, specialized training, informed risk-taking, and collective best practice development. It is hoped that the study will enable the listed commercial banks to improve risk management practices in the selected commercial banks so as to enhance their financial performance. This study will be valuable to other academicians for benchmark as they conduct their studies on the similar subject. Future research directions include extending the survey to all Rwandan financial institutions to improve reliability, exploring financing diversification for liquidity risk, examining credit risk within economic fluctuations, and studying banks' management of foreign exchange and stock price volatility for enhanced financial stability insights
Entrepreneurial Finance and Performance of Small and Medium Sized Enterprises in Kiambu County, Kenya
No full textSmall and Medium Enterprises have contributed greatly to the Kenyan economy. They account for over 90% of all businesses in the country and provide employment opportunities to the majority of the population. Access to finance is a critical determinant to the success and growth of small and medium enterprises. The objective of this study is to assess the effect of access to entrepreneurial finance on the growth of Small and Medium sized Enterprises in Kiambu, Kenya. The target population is the 889 registered Small and Medium sized Enterprises in Kiambu County. The theories looked at in this study are Compensatory Theory of Profits, Traditional Theory of Capital Structures, Pecking Order Theory and Liquidity Preference Theory. The research used the descriptive design and concentrated on registered SMEs in Kiambu County due to their concentration thus a good representation. The target population for this study constitutes of the 889 SMEs in Kiambu County as registered in the Kiambu Business Directory. Using the Yamane sample size formula, a sample size of 276 businesses were selected to represent the target population. Thus, 276 questionnaires were administered out of which 214 were dully filled and returned representing a response rate of 77.5 percent. Data was analyzed using SPSS version 23. It involved both descriptive and inferential statistics and it was presented using pie charts, tables, graphs, and figures. From the analysis results, the correlation between angel financing and performance of SMEs was positive and statistically significant (0.544, 0.000<0.05). The coefficient of angel financing was positive (0.188) and statistically significant (0.001<0.05). The outcomes of correlation between venture capital and performance of SMEs was also positive and significant (0.535, 0.000<0.05). The coefficient of venture capital was positive (0.218) and statistically significant (0.000<0.05). The study concluded that angel financing positively and significantly affects the performance of SMEs. Venture capital is a positive and significant determinant of the performance of SMEs. Own funding by the SMEs also contributes positively and significantly to the performance of SMEs. The study recommended that before the inception of SMEs, the founders ought to look for adequate capital necessary for efficient running of the operations of the enterprise as well as a capital that enables the purchase of adequate stock. This can be done through conjunction between venture capitalist, SMEs through Micro and Small Enterprises Authority and the ministry of Cooperatives and Micro and Small Enterprise to develop a funding framework for SMEs anchored on venture capital and angel financing.
Keywords: Entrepreneurial Finance, Performance, SMEs, Kiambu Count
Effect of Capital Structure on Financial Performance of Selected Commercial Banks in Rwanda: A Case of Bank of Kigali, Equity Bank and I&M Bank
No full textThe global financial crisis of 2007-2009 highlighted the importance of bank Managerial efficiency and effectiveness. This study seeks to assess the effect of capital structure on financial performance of commercial banks in Rwanda. The aim of the study is to examine the effects of Capital structure on financial performance of listed commercial Banks in Rwanda, a case study of selected commercial banks in Rwanda (BK, I&M bank, Equity). It is important to distinguish the banking sector from the general financial sectors and other sectors. The banking industry being a key pillar in the financial industry and economy as a whole needed to be studied in this context. This study was prompted by the knowledge gap generated by the insufficient studies and inconsistent findings about the effects of capital structure. By shedding light on the impact of capital structure on the financial performance of listed commercial banks in Rwanda, the research study's findings were helpful to the management of BK, I&M Bank, and Equity, investors, shareholders, and academics, as well as the government of Rwanda, the Rwanda Stock Exchange (RSE), and the Capital Market Authority (CMA). Leverage level affects a listed commercial bank's financial performance, according to capital structure theories (including the irrelevance theory of capital structure, the Trade-off theory, the pecking order theory, and the agency cost theory that have been investigated). This study adopted descriptive research design. Therefore the overall annual financial reports of 10 of Commercial Banks formed the target population. The main source of data for the study was Secondary data. The financial and income statements panel data covering seven year period from 2016 to 2022 summarized and ratios calculate and analyse using SPSS version 20 to produce inferential statistics using multiple regression analysis so as to determine the relationships between dependent and independent variables. The multiple regression models used considered performance as the dependent variable and was measured in terms of ROA and ROE. Time series data from 2016 to 2022 extracted from the financial statement of the selected banks, and descriptive statistics, financial analysis techniques and ratios, correlation analysis and regression used to determine how capital structure affect the financial profitability of commercial banks. Different research findings revealed that films with a positive foreign equity share performed better after the global financial crisis, it was argued by literature that, this could be because FDI is the more stable source of financing for firms and is less prone to sudden outflow. Moreover, it could provide firms with access to an internal capital market when external markets are tight or distressed. The focus of this paper is selected Bank’s equity share to the total foreign liabilities, the research findings shows that the selected banks grew by 18.8 percent on account of the growth of deposits and capital. The capital position of the banking sector remained above regulatory requirements. As at end June 2022, the aggregate Capital Adequacy Ratio (CAR) of banks stood at 23.1 percent, higher than the minimum regulatory requirement of 15 percent. Selected Banks continue to hold adequate liquidity buffers both in short- and long-term perspective.as at the end of December 2022 The Liquidity Coverage Ratio (LCR) that measures the ability of banks to fund cash outflows for 30 days stood at 224.7 percent, well above the minimum requirement of 100 percent. During the same period, the Net Stable Funding Ratio (NSFR) that gauges whether banks hold enough stable funding to cover the duration of their long-term assets stood at 130.9 percent, higher than 100 percent minimum regulatory requirement. Despite the improvement in bank loan book indicators, credit risk remains the major risk facing the banking industry. The financial sector is expected to remain sound and stable on the back of sufficient capital and liquidity buffers. However, risks remain due to heightened uncertainties in global and domestic macroeconomic environment
The Effect of Inventory Management Strategies on Business Growth in Manufacturing Companies: A Case of Gisakura Tea Factory Ltd
No full textThis study assesses the effect of inventory management strategies on the business growth on manufacturing companies in Rwanda especially at Gisakura tea factory ltd. determining the effect of demand forecasting, establish the effect of lead time, examining the effect of reorder and analysing the effect of safety stock, on business growth in Gisakura Tea Company, from 2020 up to 2023. The literature review defined key concepts and developed conceptual review, theoretical review, empirical review and conceptual framework regarding the effect of inventory management strategies on business growth. This study was conducted on 102 staff members of Gisakura Teak Factory, who were purposively selected due to their small number to respectively answer to questionnaire for data collection to be descriptively and correlatively analysed, with the help of SPSS computer packages, version 20. A mixed survey design, being both descriptive and correlative, was used in this study where, in the inventory management strategies and business growth, this study involved gathering and analyzing data to describe the current state of invetroy management strategies and correlate it with the business growth within a company. The study revealed that the demand forecasting with (β=0.506; p=028); lead time with (β=-0.512; p=024); reorder point with (β=0.906; p=011) and safety stock with data (β=0.840; p=018) indicated its significant positive effects on various aspects of business growth in Gisakura Tea Company Ltd, including contributing to customer retention rates, impacting Net Promoter Score (NPS), and enhancing a reliable and customer-centric brand. Consequently, the study concluded that inventory management strategies positively affect the business growth in manufacturing companies in Rwanda. Therefore, it was recommended, particularly focusing on Gisakura Tea Factory, to invest in cutting-edge demand forecasting techniques. This includes the incorporation of predictive analytics, machine learning algorithms, and thorough analysis of historical data, to optimize it supply chain processes for efficient lead time management, to avoid overstocking, as this can tie up capital and lead to issues such as product obsolescence, and to invest in comprehensive training programs to educate their staff about the holistic impact of inventory management on business growth.
Key words: Demand Forecasting, Lead Time, Reorder Point, Safety Stock And Business Growt
The Effect of Electronic Banking Tools on Operational Performance of Commercial Banks in Rwanda. A Case of Bank of Kigali (2017-2021)
No full textThe main objective of this research was to assess the effect of electronic banking tools on the operational performance of Bank of Kigali in Rwanda with the specific objectives to determine the effect of internet banking transactions on operational performance in Bank of Kigali , to examine the influence of electronic cards on the operational performance of Bank of Kigali , and to evaluate the impact of mobile banking on the operational performance of Bank of Kigali . The correlational research design was employed in this research. The sample was 72 from the population of 254 Bank of Kigali employees working in operations department, corporate and customer retail department, risk and compliance department and digital banking department at headquarters. The sampling techniques used was stratified sampling. The main instrument of data collection in the study were the questionnaires, interviews, and published reports. The study used Statistical Package for Social Scientists (SPSS. 23) to analyze data collected. The findings revealed The results show that there is a linear relationship between the two variables (independent and dependent) with correlation of height and weight (r= 0.409; 0.356; 0.578 respectively). Furthermore, correlational analysis showed that between electronic cards banking and Operational performance there is significance level indicated by 0.409; 0.356; 0.578 respectively) for a two-tailed test), as these values are all greater than 0.05. model summary showed that 81.9 % changes in operational performance levels of commercial bank could be accounted to changes in internet banking, mobile banking, and electronic cards transactions. The calculated value from ANOVA was greater than the critical value tabulated (48.638> 2.764) and this is an indication that internet banking, mobile banking, and electronic cards transactions significantly influence operational performance level of commercial banks. From the findings on the coefficient of determination, the study found that there was great variation in the operational performance of commercial banks in Rwanda could be accounted to changes in internet banking, mobile banking, and electronic cards transactions of the bank at 90% confidence interval. The researcher has found the electronic cards banking in Bank of Kigali Plc positively effects the operational performance. We have recommended for various players in the banking sectors to adopt electronic banking service as this will enable them to have a larger coverage, flexibility, interactivity, and greater accessibility compared to conventional banking.
Key words: Electronic banking tools, Internet banking transactions, Electronic cards, Mobile banking and Operational performance
Multiple Taxation and Financial Performance of Manufacturing Firms Listed at The Nairobi Securities Exchange, Kenya
No full textThe performance of the manufacturing sector is affected by several factors, key among them being the high costs of doing business. Excessive taxation in the form of high tax rates, double, and multiple taxes are some of the challenges facing manufacturing industries. The main aim of this research was to analyze the influence of multiple taxes on the financial performance of manufacturing firms listed on the NSE. The following objectives were used to guide the study: to determine the influence of corporate tax on performance, to study the effect of excise duty on performance, to establish the effect of customs duty on performance, and to determine the moderating effect of firm size on the relationship between multiple taxes and financial performance of manufacturing firms listed on the NSE. This research adopted the agency theory, ability-to-pay theory, optimal taxation theory, and profit maximization theory. An explanatory research design was used, and the research philosophy was positivism. The study population was the 9 manufacturing firms listed on the NSE as of December 2021. Secondary data from listed manufacturing firms' annual financial reports from 2012 to 2021 was used in the study. Data was analyzed using Stata 20. Descriptive statistics like frequencies and percentages and inferential statistics like correlation and regression were generated. The dependent-independent relationship was shown using correlation coefficients. For hypothesis testing, panel regression was used. The results were presented in tables and figures with relevant interpretation and discussion. Every ethical consideration was followed. Corporate tax had no significant positive effect on financial performance (p=0.947 > 0.05). Results indicate a significant negative impact of excise duty on financial performance (p=0.000 < 0.05). The study found that customs duty significantly influenced financial performance (p=0.022 < 0.05). Firm size significantly affected the relationship between multiple taxes and financial performance, and its interaction with corporate taxes, customs duty, and excise duty affected ROE. It is recommended that managers of listed firms put proper procedures in place to enhance and increase their financial performance through corporate tax planning.
Keywords: Multiple Taxation, Financial, Performance, Manufacturing Firms, Nairobi Securities Exchange
 
Adherence to Hypertensive Medication among Hypertensive Patients Aged ≥ 35 Years Old Attending Muhima District Hospital, Rwanda
No full textThe burden of hypertension is estimated to be over nine million globally. The drain associated with hypertension is worsened by poor medication adherence, among other factors. Medication nonadherence in hypertensive patients is a complex problem that results in enormous health and economic burdens. In Africa, medication adherence is reported as low as 37.5%, while the global rate remains at 45.3%. Therefore, this study was conducted to determine the prevalence and factors associated with adherence to antihypertensive medication among hypertensive patients at Muhima District Hospital, Rwanda. Ministry of Health, Muhima District Hospital and other stakeholders may use these findings to plan and develop evidence-based health interventions to promote adherence to antihypertensive medication. A cross-sectional study was conducted among 272 patients attending NCD service at Muhima District Hospital of Rwanda. A systematic sampling technique was employed to recruit participants. A study questionnaire was used to collect quantitative data. Descriptive analysis (frequencies, mean and percentages), bivariate analysis (Chi-square test with α=0.05) and Poisson logistic regression (AOR and 95% CI) were computed by using SPSS v21.0. The majority of the patients (59.2%) were 55 years and older, with a mean (±SD) of 55.8 (9.9) years. More than half of the participants, 159 (58.5%), were females. This study revealed that prevalence of adherence to antihypertensive medication among participants was 70.6%. Patient-related factors with significant association with adherence included patients who had no problems affording your antihypertensive medication [AOR 1.15, CI (1.03 - 1.28), p=0.011], no problems of transport to go for appointment [AOR 1.15, CI (1.06 - 1.25), p<0.001], patient who never stopped taking their medication due to fear of adverse effect [AOR 1.65, CI (1.51 - 1.81), p<0.0001]. Patient belief that some medications are expensive [AOR 1.08, CI= (1.01 - 1.15), p=0.021 is the only healthcare delivery factor significantly associated with adherence to antihypertensive medication. Therefore, the Ministry of Health, Muhima DH and other stakeholders are recommended to ensure that antihypertensive medications are always available and affordable cost at the hospital’s pharmacy and conduct comprehensive information education communication sessions for hypertensive patients so that they understand the complications of nonadherence to medication.
Keywords: Hypertensive Medication, Hypertensive Patients, Muhima District Hospital, Rwand
Factors Influencing Diarrheal Diseases among Children Under Five Years in Kajiado County
No full textBackground: Diarrheal diseases are among the leading causes of morbidity and mortality in young children. Diarrhea is a preventable disease, but the inadequate knowledge of mother, approach towards the prevention could lead to the high likelihood of diarrhea among children. In Kajiado County, diarrhea is one of the leading causes of morbidity and mortality in children below five years.
Objectives: The study objectives of the study was; to ascertain the influence of maternal knowledge on diarrheal diseases; to identify the influence of hygiene practices on diarrheal diseases and to establish the influence of social economic factors on diarrheal diseases among children under five .
Methods: The study population comprised of caregivers of children under five-.The study used questionnaires and key interview guide to collect the data.
Results: Maternal knowledge significantly impacts the incidence of diarrheal diseases among children under five with caregivers holding polytechnic and university education showing lower odds of their children contracting these diseases (0.964 and 1.409 less odds, respectively). Hygiene practices, such as source of water, handwashing habits, and waste management, were also identified as key factors, with practices like using spring or river water, not washing hands before feeding children, and improper disposal of waste correlating with higher odds of diarrheal diseases (0.7662, 0.7577 less odds, and 0.1932 more odds, respectively). Socio-economic factors, including the child's age, household size, income, and type of housing, were found to influence the prevalence of diarrheal diseases, with older children, smaller households, higher incomes, and living in permanent houses associated with reduced odds of these diseases (0.4986 less odds for children aged 4-5 years, and 0.8993 less odds for those living in permanent houses).
Conclusion: The study concludes that maternal knowledge, hygiene practices, and socio-economic factors impact the incidence of diarrheal diseases.
Recommendations: The study recommends targeted health education programs.
Keywords: Diarrheal Diseases, Children Under Five Years, Kajiado Count
Effectiveness of Kuzamura Ubuzima Nutrition Support Program for Hospitalized Children in Butare University Teaching Hospital, Rwanda
No full textResearch had shown that malnourished children are more likely to be hospitalized regularly, either because they presented with associated complications of undernutrition or because they are diagnosed as malnourished upon arrival at the hospital. Thus, this paper involved a prospective cohort design to assess the impact of the Kuzamura Ubuzima (KU) nutrition support program on the nutritional status of hospitalized children and the length of hospital stay. The target population consisted of 274 patients who were beneficiaries of the KU program during the specified period. For sampling, pediatric patients enrolled in the KU program between January and July 2017 and patients with complete admission and discharge data available were considered to be part of the inclusion criteria. Document analysis review was used as the data collection instrument, which involved tracking and documenting various health and demographic parameters of the patients. Statistical analysis was performed to determine the correlation between the length of time enrolled in the KU program and improvements in nutritional status. The findings revealed that all patients were ubudehe 3 or less, and the majority of patients were classified as moderately food insecure. Surprisingly, the majority of pediatric beneficiaries were ubudehe 3. This paper concludes that undernutrition remain one of the major challenges in the area of public health, with developing countries such as Rwanda being the most affected. The study recommends there is a need to expand the Kuzamura Ubuzima nutrition program to include more hospitals and other healthcare facilities within Rwanda. Additionally, it is suggested that training sessions should be enhanced to describe the importance of proper feeding, key aspects of balanced diets, and their impact on recovery rates, thus assisting caregivers in making informed decisions about their children's nutrition both in and out of the hospital. The study also emphasizes the need for policymakers to develop and implement policies that encourage better provision of nutrition in pediatric healthcare. Furthermore, healthcare administrators, providers, community partners, and researchers to collaborate in improving nutritional outcomes for hospitalized children through measures such as post-discharge follow-up systems, partnerships with local agricultural organizations, and the integration of nutrition education into healthcare curricula.
Keywords: Hospitalized children, Kuzamura Ubuzima, Nutrition support and program, Butare University Teaching Hospital, Rwand
From Zero to Overwhelm: PANS and PANDAS as Culprits Behind Sudden OCD in Pediatrics
No full textPediatric autoimmune neuropsychiatric disorders (PANDAS) and patient neuropsychiatric syndrome (PANS) are psychiatric illnesses characterized by a rapid onset of symptoms, including obsessive-compulsive disorder (OCD), behavioral symptoms and poor motor functions in children. The rapid onset and severity of OCD symptoms prompted investigations to provide an evidence-based intervention. This case series investigates the causes, diagnosis and treatment of the disease among children presenting with neuropsychiatric symptoms and acute-onset OCD. The diagnostic procedures provided grounds for the indication of medication. Methods: Bacterial infections, autoimmune cases and viral infections among 12 children with PANDAS and PANS were retrospectively studied. Pre- and post-treatment symptomatology were examined to monitor the effectiveness of interventions, following laboratory diagnostic approaches, including the Cunningham panel, serology, stool sample analysis, polymerase chain reaction (PCR), and bacterial cultures to determine the cause of the disorder. Diagnostic results informed treatments like non-steroidal anti-inflammatory drugs (NSAIDs), intravenous immunoglobulin (IVIG), fluid therapy, antibiotics, antivirals, steroids, and selective serotonin reuptake inhibitors (SSRIs) in each child. Post-treatment diagnostic results revealed remarkably improved symptoms of PANDAS and PANS, like inflammation and viral or bacterial infection. A combined therapy of antibiotics and NSAIDs or steroids was used to clear bacterial infections and manage inflammation. SSRIs and antiviral or fluid therapy were indicated for OCD and viral infections, respectively. Conclusions: OCD is a common comorbid disorder among children with PANS and PANDAS. Despite the severity and prevalence, OCD in children raises health concerns. The case series demonstrated the effectiveness of antibiotic therapy, RRIs, cognitive behavioral therapy, IVIG, steroids and NSAIDs in managing OCD in PANDAS and PANS, with a unique rationale of indication to every child.
Keywords: PANS, PANDAS, Sudden Onset OCD, Pediatric OCD, Autoimmune Neuropsychiatric Disorder