Papers by Frederick Affum
Affum, F., Obiri, K.A., 2020
Purpose- This study seeks to investigate customer’s attitude towards banking following Bank of Gh... more Purpose- This study seeks to investigate customer’s attitude towards banking following Bank of Ghana’s banking sector cleanup exercise with
focus on market women in the Yilo Krobo municipality. This manuscript represents a starting base for similar researches to be conducted in
other selected municipalities in Ghana.
Methodology- The study considered both the primary data source which were obtained through the use of self-administered survey
questionnaires from a total of 198 conveniently selected market women in the Yilo Krobo Municipality of Ghana, and secondary data source
mainly through the review of existing literatures from journals, newspapers and articles.
Findings- The study revealed an opposing attitude towards banking among market women, as more than 70% of market women in the
municipality had their banks or financial institutions dissolved and for that matter losing their business capital and personal savings. This
position has resulted in only a few market women (18%) maintaining high confidence in the banking sector. The majority of market women
rated their confidence level as moderate (41%), low (33%) and no (8%), citing unpaid locked up funds, the fear of losing their savings again, loss
of trust and to some extent a suspicion of political interferences in banking activities in the country as reasons for their ratings.
Conclusion- It is recommended that, a similar exercise should not be carried out in the future as its ripple effects on customers can further ruin their trust completely in the banking sector. Furthermore, in the wake of dissolution of any institution, a much more attention should be given to how customers will be paid as early as possible to save their businesses and livelihoods.
Omane, F. A., & Affum, F., 2020
The study examined the reasons why public workers do not utilize Ghana's tax relief scheme and it... more The study examined the reasons why public workers do not utilize Ghana's tax relief scheme and its associated challenges with the University Hospital, Legon as the case study. The mixed method approach was adopted thus using both qualitative and quantitative method of collecting data. Questionnaires were distributed to and responses obtained from 174 staffs of the University Hospital, Legon selected using the stratified random sampling and the simple random sampling method whereas four (4) purposively selected officials of the Ghana Revenue Authority were also interviewed. Majority of respondents had no information or knowledge about the tax relief scheme in Ghana and this is largely attributable to inadequate seminars organized by Ghana Revenue Authority in creating public awareness on its benefits to taxpayers in Ghana. Furthermore, complex procedures or processes coupled with inadequate knowledge regarding how to apply are major reasons why tax reliefs are not utilized. To others, the subject of tax reliefs was not very necessary as they do not have much information on its existence, benefits and how to access it. The study recommended vigorous and regular symposiums to educate the public on the benefits accruing to utilizing tax reliefs extending this publicity among the various social welfare departments and the physically challenged groups in Ghana. The study also recommended a more simplified application process and forms to be put in place but the Ghana Revenue Authority to eliminate the discouraging factor taxpayers have whenever tax reliefs and its application is cited.
Asian Journal of Economics, Business and Accounting, 2020
This paper seeks to analyze the unintended accompanying effects of the Bank of Ghana's financial ... more This paper seeks to analyze the unintended accompanying effects of the Bank of Ghana's financial sector sanitization popularly referred to as "clean-up exercise" which ended in August 2019 on the operations of unaffected financial institutions with ardent interest in customer deposits or investment and lending activities. The mixed-method approach thus, using both quantitative and qualitative methods of collecting data, was deployed for the study. The study population covered branch managers, credit officers, and cashiers of all financial institutions that were not affected by the Bank of Ghana clean-up exercise in the Yilo Krobo Municipality, Ghana. The findings of the study revealed that deposits have generally been low, whereas withdrawals have been very high, and these were due to fear and panic of losing funds or investments and loss of confidence among the banking population. On the other hand, lending activities have not been affected as customers of defunct financial institutions have shifted their loan demands or requests to the unaffected ones. However, some financial institutions are unable to meet loan request from their customers due to liquidity challenges arising from low cash deposits. The study recommends strict regulatory enforcement, periodic publishing of financial institutions in good standing, and timely education of customers of financial institutions in the event of any possible revocation of the license of any Financial Institution.
The study examined the impacts of microfinance on the livelihoods of market women in the Yilo Kro... more The study examined the impacts of microfinance on the livelihoods of market women in the Yilo Krobo Municipality in the eastern region of Ghana. The mixed method approach was adopted thus using both qualitative and quantitative methods of collecting data. Questionnaires were distributed to market women selected conveniently whiles some purposively selected staffs and management of microfinance institutions (MFIs) were interviewed. The study revealed a positive impact of microfinance on the livelihoods of market women and their households. It was recommended that Microfinance Institutions should intensify the awareness of their services and maximize their training and education services for market women in the municipality to optimize the benefits derived by these market women in a way of subscribing to their services.
Frederick Affum, 2020
The study examined the impacts of microfinance on the livelihoods of market women in the Yilo Kro... more The study examined the impacts of microfinance on the livelihoods of market women in the Yilo Krobo Municipality in the eastern region of Ghana. The mixed method approach was adopted thus using both qualitative and quantitative methods of collecting data. Questionnaires were distributed to market women selected conveniently whiles some purposively selected staffs and management of microfinance institutions (MFIs) were interviewed. The study revealed a positive impact of microfinance on the livelihoods of market women and their households. It was recommended that Microfinance Institutions should intensify the awareness of their services and maximize their training and education services for market women in the municipality to optimize the benefits derived by these market women in a way of subscribing to their services.
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Papers by Frederick Affum
focus on market women in the Yilo Krobo municipality. This manuscript represents a starting base for similar researches to be conducted in
other selected municipalities in Ghana.
Methodology- The study considered both the primary data source which were obtained through the use of self-administered survey
questionnaires from a total of 198 conveniently selected market women in the Yilo Krobo Municipality of Ghana, and secondary data source
mainly through the review of existing literatures from journals, newspapers and articles.
Findings- The study revealed an opposing attitude towards banking among market women, as more than 70% of market women in the
municipality had their banks or financial institutions dissolved and for that matter losing their business capital and personal savings. This
position has resulted in only a few market women (18%) maintaining high confidence in the banking sector. The majority of market women
rated their confidence level as moderate (41%), low (33%) and no (8%), citing unpaid locked up funds, the fear of losing their savings again, loss
of trust and to some extent a suspicion of political interferences in banking activities in the country as reasons for their ratings.
Conclusion- It is recommended that, a similar exercise should not be carried out in the future as its ripple effects on customers can further ruin their trust completely in the banking sector. Furthermore, in the wake of dissolution of any institution, a much more attention should be given to how customers will be paid as early as possible to save their businesses and livelihoods.
focus on market women in the Yilo Krobo municipality. This manuscript represents a starting base for similar researches to be conducted in
other selected municipalities in Ghana.
Methodology- The study considered both the primary data source which were obtained through the use of self-administered survey
questionnaires from a total of 198 conveniently selected market women in the Yilo Krobo Municipality of Ghana, and secondary data source
mainly through the review of existing literatures from journals, newspapers and articles.
Findings- The study revealed an opposing attitude towards banking among market women, as more than 70% of market women in the
municipality had their banks or financial institutions dissolved and for that matter losing their business capital and personal savings. This
position has resulted in only a few market women (18%) maintaining high confidence in the banking sector. The majority of market women
rated their confidence level as moderate (41%), low (33%) and no (8%), citing unpaid locked up funds, the fear of losing their savings again, loss
of trust and to some extent a suspicion of political interferences in banking activities in the country as reasons for their ratings.
Conclusion- It is recommended that, a similar exercise should not be carried out in the future as its ripple effects on customers can further ruin their trust completely in the banking sector. Furthermore, in the wake of dissolution of any institution, a much more attention should be given to how customers will be paid as early as possible to save their businesses and livelihoods.