Perspective of Financial Literacy on Agribusiness Performance in Uganda; A Close Look at Farmers’ Attitude and Social Media Platforms

Tomasi, Mutya

doi:10.36348/sjbms.2020.v05i01.010

Cited by 6 publications

(3 citation statements)

References 27 publications

(67 reference statements)

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“…In an increasingly complex and dynamic economic environment, stakeholders must possess the knowledge and skills necessary to make informed financial decisions (Obi-Anike et al, 2023). Financial literacy enables farmers, agricultural cooperatives, and agribusiness managers to assess risks, manage cash flow, allocate resources efficiently, and access financial markets effectively (Tomasi, 2020). Moreover, it empowers them to navigate challenges such as price volatility, input costs, and investment opportunities, thus enhancing their ability to generate sustainable profits (Hainzer et al, 2023;Syahnaz et al, 2023).…”

Section: Introductionmentioning

confidence: 99%

Quantitative Assessment of the Relationship between Land Management Practices, Financial Literacy, Supply Chain Integration, and Profitability in Agribusiness Enterprises

Riswandi,

Abidin,

Harsono

2024

IJBLE

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This research explores the relationship between land management practices, financial literacy, supply chain integration, and profitability in agribusiness enterprises. Using a quantitative approach with a sample size of 150 respondents, the study investigates the influence of these factors on profitability. Results indicate significant positive relationships between land management practices, financial literacy, supply chain integration, and profitability. Sustainable land management practices enhance productivity and environmental stewardship, while financial literacy empowers stakeholders to make informed financial decisions and access capital markets. Additionally, supply chain integration improves operational efficiency and reduces costs. These findings highlight the importance of integrating good practices in farming, finance, and supply chain management for long-term success in the agricultural sector.

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Section: Introductionmentioning

confidence: 99%

Quantitative Assessment of the Relationship between Land Management Practices, Financial Literacy, Supply Chain Integration, and Profitability in Agribusiness Enterprises

Riswandi,

Abidin,

Harsono

2024

IJBLE

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“…Moreover, the failure of farmers to secure accurate financial records, leading to the declaration of a zero report, presents setbacks in examining taxes well. This lack of transparency in financial reporting is not only a problem for financial stability but also presents risks to tax compliance and potential penalties (Tomasi, 2020). The study targeted examining the effects of proper financial record-keeping and sustainable growth of agribusiness enterprises in Rwanda.…”

Section: Introductionmentioning

confidence: 99%

Financial Record Keeping and Sustainable Growth of Agribusiness Enterprises in Rwanda: A Case Study of Moozays Dairy and Crop Farm Limited

Rwigamba,

Gathiru

2024

AJERNET

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Maintaining valid financial records is critical to making informed decisions about its operations. With no clear record-keeping incentives, farmers should miss important data on income, expenses, profitability, and financial health. The main objective of this research study was to assess the effects of proper financial record-keeping and sustainable growth of agribusiness enterprises in Rwanda (case study: Moozay’s Dairy and Crop Farm Limited). The specific objectives of this study included assessing the effect of purchase bookkeeping on sustainable growth of agribusiness enterprises in Rwanda, analyzing the effect of sales bookkeeping on sustainable growth of agribusiness enterprises in Rwanda, and determining the effect of cash bookkeeping on sustainable growth of agribusiness enterprises in Rwanda. This study is based on agency theory, double-entry bookkeeping theory, and accounting theory. A mixed-methods research design of descriptive and correlational studies was employed to collect both quantitative and qualitative information for analysis. The primary data were gathered by distributing questionnaires to a randomly chosen group of employees working in the finance department at Moozay's Dairy and Crop Farm Ltd. The targeted population of this study was equal to 100 respondents, and the sample population of this study is equal to 80 respondents. The data analysis procedure involved both quantitative and qualitative processes. Purchase book keeping (β=0.248, t=2.654), sales book keeping (β=0.330, t=3.321), and cash book keeping (β=0.337, t=3.331) indicate that for every one-unit increase in these variables, there is a corresponding increase in the sustainable growth of agribusiness enterprises in Moozay's Dairy and Crop Farm Limited. Furthermore, the significance values (Sig. 0.010, 0.001, 0.001) associated with these financial record-keeping variables are all notably below the typical significance level (0.05), demonstrating their strong statistical significance and emphasizing their significant roles in contributing to the sustainable growth of agribusiness enterprises in Rwanda. Also, the findings showed an R value of 0.855, an R square value of 0.731, and an adjusted R square value of 0.720, which indicates that the model adequately accounts for 73.1% of the variation in project success. Overall, Moozay's Dairy and Crop Farm Limited's research revealed strong agreement among respondents about the significant impact of financial record-keeping, which includes purchase, sales, and cash book keeping, on the sustainable growth of agribusiness enterprises in Rwanda. The study recommended Moozay's Dairy and Crop Farm Limited to provide periodic training and capacity building for staff to enhance cash bookkeeping practices in agribusinesses in Rwanda. Moozay’s Dairy and Crop Farm Ltd. is recommended to set policy action to enforce financial record keeping. Additionally, lawmakers should pass and strictly enforce a law on financial records in agribusinesses and other businesses. Moozay’s Dairy and Crop Farm Ltd. should be highly concerned about purchase bookkeeping as one of the tools to improve and increase its financial performance.

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“…[15], defines micro-entrepreneurs as startups because their businesses have a capital base of less than ten million Uganda Shillings and employ less than five individuals. Essentially, startups are newly established businesses that operate with limited resources in the early stages of development, [16], [17]. Innovative ideas motivate these entrepreneurs, who are prepared to take risks to turn their vision into a successful venture, [18].…”

Section: Introductionmentioning

confidence: 99%

Determinants of Digital Insurance Adoption among Micro-Entrepreneurs in Uganda

Tomasi,

2024

Financial Engineering

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The insurance industry is constantly evolving with the help of technological advancements across the globe. The purpose of this study was to explore the critical factors that influence the adoption of digital insurance among microentrepreneurs in Uganda. The study involved 209 participants. The study used a modified DOI theory as a framework and analyzed the data using structural equation modeling (IBM SPSS Amos 23.0). The results of the study indicated that knowledge of digital insurance, relative advantage, and perceived trust have a significant positive impact on digital insurance adoption among micro-entrepreneurs in Uganda. Conversely, the study found that perceived social influence had no significant impact. This study adds valuable insights to the literature on digital insurance and microentrepreneurs and aids policymakers and managers in understanding the influential factors for implementation.

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Perspective of Financial Literacy on Agribusiness Performance in Uganda; A Close Look at Farmers’ Attitude and Social Media Platforms

Cited by 6 publications

References 27 publications

Quantitative Assessment of the Relationship between Land Management Practices, Financial Literacy, Supply Chain Integration, and Profitability in Agribusiness Enterprises

Quantitative Assessment of the Relationship between Land Management Practices, Financial Literacy, Supply Chain Integration, and Profitability in Agribusiness Enterprises

Financial Record Keeping and Sustainable Growth of Agribusiness Enterprises in Rwanda: A Case Study of Moozays Dairy and Crop Farm Limited

Determinants of Digital Insurance Adoption among Micro-Entrepreneurs in Uganda

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