Electricity Transmission Losses, Electricity Consumption, and Economic Growth in Ghana (Published)
An unsustainable power supply has dire consequences for every economy. Extant studies focused on the nexus of electricity consumption and economic growth to the neglect of electricity transmission losses (ETL). This paper argued that quantifying the effect of ETL on electricity consumption and understanding its implications on growth will incite actions to improve the electricity transmission system in Ghana. Using yearly data from 2000 to 2020 in an Autoregressive Distributed Lag (ARDL) model, the study concludes that ETL reduce the total amount of electric power consumed in Ghana by 34%. Again, a reduction in electricity consumption due to ETL reduces national income and Ghana’s growth at large. Factors including electricity price, exchange rate, and inflation also influenced electricity consumption and economic growth in Ghana. The study suggests massive improvement in its electricity transmission system to reduce electricity losses, increase electricity consumption, and enhance economic growth.
Keywords: Electricity transmission losses, Ghana, Growth, electricity consumption
The Impact of Covid-19 Induced Capital Flight on the Bond and Foreign Exchange Markets In Ghana (Published)
This paper provides evidence on the adverse effects of Covid-19 induced capital flight on the bond and foreign exchange markets in Ghana. Based on trend analysis, the study found significant portfolio reversals after the country recorded its first case of Covid-19 on March 12, 2020. This excessive capital flight had a far-reaching adverse impact on nominal exchange rate. Precisely, the Ghanaian Cedi shed earlier gains recorded in the first half of the year against the US Dollar. The prime contribution of this study is that it provides insight into the impact of the Covid-19 pandemic on the bond and foreign exchange markets in Ghana. To the best of our knowledge, this study is novel in the sense that no prior study has examined the response of the domestic bond market and nominal exchange rate to unanticipated global shocks in Ghana. The findings imply that, over-reliance on foreign portfolio inflows renders the bond and foreign exchange market vulnerable to unanticipated external shocks. Thus, the Covid-19 pandemic is a wake-up call for operationalization of policies to strategically develop the domestic bond market in order to build a wider domestic investor base to cushion the Ghanaian economy from such shocks.
Keywords: COVID-19, Foreign Exchange Market, Ghana, bond market, capital fight
Determinants of Bank Selection by University Students in Ghana (Published)
Purpose – The study examines the bank selection criteria employed by Ghanaian university students. Design/methodology/approach – We used convenience sampling to select 997 students aged between 15-30 years from Kwame Nkrumah University of Science and Technology. Exploratory factor analysis was first conducted to determine the constructs that measure students’ selection of bank criteria. Using binary logistic regression, the extracted constructs were used as independent variable on the bank patronized. The effects of student demographics on the bank selection criteria was also determined using a multiple linear regression. Findings – The study extracted six constructs that measured bank selection criteria by university students. These were operational competence, external influence, physical evidence, e-banking facilities, convenience and cost of operating bank account. Out these, e-banking facility, convenience and cost of operating bank account, were statistically significant at determining the selection of bank. The department students belonged to (social science or pure science) affected the level of weight placed on cost of operation. Age of respondents and department affected the premium placed on e-banking. Finally, employment status and department affected the level of importance student attached to convenience as a selection criterion. Gender of students had no statistical effect on any of the bank selection criteria. Originality/value – The reviewed literature showed that, researchers either explored in isolation, bank characteristics influencing bank selection by clients, or client demographic and preference for bank and its characteristics. This study sought to feel this gap by combining the two, to provide a more robust model in explaining students’ selection of bank.
Keywords: Bank, Criteria, Ghana, Selection, Students, University
Culture of Vote Buying and Its Implications: Range Of Incentives and Conditions Politicians Offer to Electorates (Published)
Each election year and in almost every local and institutional elections the issue of vote buying surfaces. Vote buying has almost become part of every election in Ghana. While the menace is on the increase, it is unclear whether votes bought translate into votes for the buyer or the buying party. This work sought to investigate the range of incentives and conditions politicians give to electorates. Sequential mixed-method design was employed for the study. Data from questionnaire was triangulated with interviews. The target population for this study consists of the entire group of potential voters in Shama District in the Western Region who were 18 years and above. Five (5) communities or electoral areas in the district were selected for the study. These communities were Atwereboanda, Komfueku, Beposo, Nyankrom and Shama. A sample size of three hundred (300) was chosen for the quantitative (questionnaires administered) aspect of the research while twenty of them were purposively selected for the qualitative (interviews conducted) aspect of the study. Two party activists were also interviewed to support the data. Non-probability (convenience, proportional and purposive) sampling techniques were employed to select the district, communities and respondents for the study. The study revealed among other things that: (a) Items that are used to buy votes include silver pans (basins), cloths, gas cylinders, laptops, money, outboard motors, wellington boots and party branded items; and (b) During vote buying, conditions are not actually attached to the incentives except where there are doubts that one wants to take the incentive without reciprocating with his/her vote. Enforcing laws on vote buying by all stakeholders including the police, the judiciary, the Electoral Commission of Ghana (EC) and resolving to fight corruption among leaders who also use all means to make money to engage in vote buying would go a long way to solve the menace
Keywords: Culture, Election, Ghana, Politicians, Vote Buying, Voting Conditions, Voting Incentives
Assessing the Effect of Lead Time Management on Customer Satisfaction (Published)
The Microfinance Industry (MFI) emerging from the banking industry, lead time management is very important since the sector is highly dependent on very recent technology and customer service efficiency ethics which is capable of drastically reducing lead times. Customers are also highly informed and their demands and expectations are high. Customers want instant solutions when it comes to their financial or banking services. It is therefore important for microfinance companies to effectively manage their lead times to achieve higher levels of customer satisfaction. This study adopts the methodology of a hybrid approach consisting of qualitative and quantitative approaches in examining the impact of lead time on customer satisfaction in the microfinance industry, a sub sector of SMEs in Ghana. Sample size of 150 staff and customers mostly petty traders was considered from five selected branches of Talent Microfinance Company limited. In selecting the sample size of the petty traders for the survey, the Slovin’s sampling method was used. The study findings revealed that that minimizing waiting time in a bid to enhance customer satisfaction level can typically improve the competitiveness of microfinance services in Ghana as these are deemed the basic requirements for social development as well as for human civilization. Furthermore, establishing a scientific, workable and efficient banking system improves efficiency and enhances the competitiveness for banks to be an important society role. This is a requirement for banking industries own development, and a new inevitable challenge for modern Ghanaian financial institutions to increase the banking management development. The study recommends among several others that there is the need for improvement in academia or higher learning in Ghanaian microfinance institutions to link with other financial institutions in Ghana and identify gaps in the knowledge, values, skills and attitudes of their graduates most especially in TMCL.
Keywords: Customer Satisfaction, Ghana, Lead Time, MFIs, SMEs
Analysis of Poverty Trends in Ghana (Published)
The definition of poverty differs across regions and localities in reference to traditions and what society perceived to be poor characterises of a household. In the past, poverty was defined based on household indices such as income levels, consumption and expenditure patterns among others. However, in our efforts to estimate poverty level of households or communities, one has to take into consideration the multi-dimensional nature of poverty and factors that contribute to poverty including both human and social indices normally drafted into poverty reduction projects and strategies.