Signs of Financial Distress in Projects Funded by Project Finance

The need to implore project finance for funding projects cannot be overemphasized. Project financing are however susceptible to risk. In the last few decades, a number of projects and companies have plunged into financial distress. The impact of financial distress on economies of nations is huge. Financial distress of companies and projects is of serious concern and need to be investigated in order to find a remedy for the canker. This paper moves beyond traditional ratio analysis to find out the possibility of financial distress of companies and projects using a Prediction model. The Modified Altman’s Z-score Model is applied to the financial statements of the defunct Enron Company to see if it was possible to detect its collapse before it eventually did. The Modified Altman’s Z-score Model is a predictor of bankruptcy. It was found that the use of the Modified Altman Model was possible to notice early signs of financial distress of the Enron Company in particular and generally all businesses. It is recommended that projects and companies should make it a habit to apply Prediction models to test their financial soundness regularly to guide against financial distress. Keywords: Project finance, financial distress, Prediction models, The Modified Altman mode

FARMING, EXCRETA AND HEALTH IN TAMALE METROPLITAN AREA-AN ENVIRONMENTAL PERSPECTIVE

Poverty and the rising cost of synthetic fertilizer have compelled backyard gardeners to resort to wastewater irrigation and excreta fertilization in Tamale. Research has indicated that soil texture and nutrients are improved greatly if sludge and wastewater are used for crop production because excreta contain all the nutrients needed for plant growth but may be supplemented for potassium. Infectious organisms such as bacteria, viruses, protozoa and parasites (worms) are found in sludge. Three methods were used by the farmers: Surface spreading method-55%; Pit method-17%; and Spot method-28%. Those who apply four trips of excreta per acre acquired more yield (15 bags/acre of maize) than those who applied less than four trips of faecal sludge. Keywords: Pathogens, Excreta, Hazardous, Bacteria, Compost, Plough, Cespit tank

Techno-economic comparison of standalone solar PV and hybrid power systems for remote outdoor telecommunication sites in northern Ghana

Telecommunication services have continued to evolve to meet the ever-changing bandwidth demand requirements. The electricity grid network of Ghana is faced with challenges, including low voltages, a lack of quick fault response teams, and the proximity to specific locations. Using diesel generators to address the shortfall in grid supply is expensive and has implications for greenhouse gas emissions. This study evaluated the technical and economic benefits of using a standalone solar photovoltaic (PV) system, hybrid (Solar PV/diesel), conventional diesel generators (DG), and grid extension to power an off-grid outdoor telecommunication site. Power solutions configurations were simulated using hybrid optimization of multiple electric renewables (HOMER). The study found the optimum design to be a standalone solar PV/battery system with 56.3 kW solar PV array and Sixty (60) pieces of 12 V SAGM batteries of 135 Ah. The optimum design had a net present cost (NPC) of US$88,176.00 and a cost of energy (COE) of US$ 0.321/kWh. The COE and the NPC of the optimum system were approximately 50% less than the design with DG only, which could significantly impact service tariff and improve access to digital connectivity. The COE from the solar PV/battery system is not competitive with the grid power supply (COE = US$0.12). However, considering the electric distance limit or breakeven distance of 4.51km for grid extension, the solar PV/battery is preferred. Therefore, the stakeholders in providing power solutions to off-grid locations should consider solar PV technology

Relationship Between Financial Regulation and Microfinance Institutions Sustainability and Outreach in Northern Ghana

Purpose: This study examined the relationship between financial regulation of microfinance institutions and their sustainability and outreach from the view point of managers and operation staff in northern Ghana. Methodology: The study used primary data. Purposive and convenient sampling techniques were used in selecting 189 managers and operating staffs across 18 microfinance institutions operating in northern Ghana. In addition, the researchers purposively sampled 5 experienced senior staff from the Bank of Ghana. Data was collected using structured questionnaires, which was personally administered by the researchers and two research assistants. Research assistants were trained by the researchers on the ethics of this study before and during the data collection process. Data collected was analysed using Spearman’s correlation and descriptive statistics. Findings: The study found positive statistically significant relationship between financial regulation and financial sustainability and outreach among managers and operation staff of MFIs surveyed in northern Ghana. The study further found that financial regulations of MFIs in northern Ghana affected sustainability and outreach. Originality: This study adds to the literature on financial regulation and microfinance sustainability and outreach in the context northern Ghana. Limitations: This study is limited to only northern Ghana and not Ghana in its entirety. The study was delayed due to publication processes and other factors and changes might have taken place in the microfinance industry in northern Ghana. However, this notwithstanding, the results of the study are still relevant for publication. Keywords: Financial regulation, Sustainability, Outreach, Ghana, Microfinance institutions. DOI: 10.7176/EJBM/11-25-10 Publication date:September 30th 201

Evaluation of Factors Influencing the Sustainability and Outreach of Microfinance Institutions in Northern Ghana

Purpose: The study examined the factors that influenced the sustainability and outreach of microfinance institutions in northern Ghana from the view point of managers and operation staff of microfinance institutions. Methodology: Questionnaires were administered to a sample of 181 managers and operation staff of 18 microfinance institutions in northern Ghana. Purposive and convenience sampling techniques were used. Data was analysed using Spearman multiple correlations. Findings: The study found: a positive  statistically significant relationship between capital structure and financial sustainability in northern Ghana,  failed to uncover any  statistically significant relationship between capital structure and outreach, failed to find statistically significant relationship between financial sustainability and outreach levels in northern Ghana, find a positive statistically significant relationship between capital structure, financial sustainability and outreach in northern Ghana. Originality: The study adds to the literature on microfinance sustainability and outreach and in particular the Ghanaian context. Limitation: The study is limited to only microfinance institutions operating in northern Ghana and the perceptions of finance professionals. The study suggests consideration of the entire regions of Ghana and the usage of actual loan data of microfinance institutions. Keywords: Microfinance institutions, Ghana, poverty reduction, capital structure, sustainability, outreach. DOI: 10.7176/RJFA DOI: 10.7176/RJFA/10-16-16 Publication date: August 31st 2019

Effect of Some Performance Indicators of Mathematics in the Nalerigu Senior High School

This study employed the multivariate analysis of variance (MANOVA) procedure to examine the influence of students’ sex, age and course of study (department) on mathematics performance in Nalerigu Senior High School of the East Mampurisi district in the Northern of Ghana. The results showed that male students perform better on the average for all the mathematics performance indicators (understanding, knowledge and perception). The MANOVA analysis revealed that students performance in mathematics do not differ across sex (gender) and age group. The results however showed that there was significant difference in performance of mathematics across course of study (department). However, the univariate analysis of variance (ANOVA) results revealed that there was no sex difference in understanding and knowledge of mathematics while significant differences exist in perception of mathematics among male and female students. Further, the study revealed a significant difference in students understanding and knowledge in mathematics and no bias in perception of mathematics among students age. The study therefore recommended that, the Ministry of Education, school managements and other stakeholders such as Non Governmental Organizations should sensitize students to discard beliefs and practices that prohibit effective participation of female students which result to poor performance in mathematics