Assessment of the Effectiveness of Ghanaian Micro-Finance Institutions in Promoting Entrepreneurs in Accra Metropolis

Bank of Ghana in 2011 issued Micro-finance Rules and Guidelines with the aim of promoting entrepreneurship activities in micro and small enterprises in Ghana. The study examined the effectiveness of Micro finance Institutions in promoting entrepreneurs in Accra Metropolis in the period 2011 to 2013. A purposive and simple random sampling technique was employed to draw the sample from the population. Personal interviews and structured questionnaires were used to facilitate the acquisition of relevant data which was used for analysis. Descriptive statistics which involves simple percentage and illustrations was purposefully applied in data presentations and analysis. The research revealed that only a few entrepreneurs had accessed loans from Micro Finance Institutions, due to high interest rates, ignorance of the existence of Micro Finance Institutions as well as lack of trust and confidence in the Micro Finance Institutions. It was concluded that Micro Finance Institutions in Accra Metropolis are less effective in promoting entrepreneurs. The researchers recommended that the Bank of Ghana and Ghana Association of Microfinance Companies must ensure transparency and integrity in Micro Finance Institutions operations to increase their outreach. In addition, Ghana Association of Microfinance Companies and its members must enhance public awareness about Micro Finance Institutions operations through various promotional strategies. Keywords: Micro-Finance Institutions, entrepreneurs, micro and small enterprises, Accra Metropolis, GAM

An Appraisal of Risk Management Practices of Microfinance Institutions in Ghana

The inherent features of microfinance institution afford these institutions the potential to absorb unskilled and semi-skilled labour to nurture as well as promote small scale enterprises. However, in the Ghanaian economy, these benefits are not forthcoming due to the high failure rate of microfinance institutions. Relevant literatures were reviewed to bring out salient issues on the subject matter of this paper. The chief source of information for this write up is secondary method of data collection. It was discovered that the barriers to microfinance institutions success includes numerous and varied obstacles. Studies conducted confirmed microfinance institutions managements are ignorant pertaining to the risks their organizations face with risk management techniques deployed reactively and ineffectively. By embedding a structured approach to enterprise risk management within MFIs, potential benefits such as reducing the over-management of risks and organizational alignment towards the microfinance institution’s mission can be realized. Keywords: Microfinance institution, risk, risk management, strategic risk management

A Literature Review of Fraud Risk Management in Micro Finance Institutions in Ghana

Due to the recent financial crisis, micro finance institutions cannot afford to be indifferent to fraud risk management practices in the battle for survival, financial sustainability and self-sufficiency. Microfinance institutions serve some of the world’s most financially challenged population who otherwise would not have access to financial services. This paper is a theoretical study on effective fraud risk management in micro finance institutions in Ghana. The study adopts exploratory approach by reviewing and analyzing the views of scholars and practitioners in the area of fraud risk management. The research revealed that corrupt board of directors, senior management and employees, weak systems of internal control, policies and procedures, weak regulatory institutions, greed on the part of culprits, inadequate staffing, inadequate training and retraining, ineffective internal and external audit functions and a macro-economic environment that eulogises wealth irrespective of how it is made constitute aids to fraud in micro finance institutions in Ghana. The researchers recommend that microfinance institutions and Bank of Ghana must ensure the creation of a culture of transparency and integrity among staff members and clients; and educate clients on their rights and ensure there is a mechanism for whistle-blowing. Keywords: Fraud, Micro finance institutions, Ghana, Internal control, Audit

An Appraisal of Rural and Community Banks in Ghana

MSMEs comprise essential elements in the lubrication and development of any economy. In Ghana, the story makes no remarkable difference as MSMEs outnumber the large businesses in the economy. Over the years the government of Ghana has devised a number of policies aimed at developing MSMEs including the establishment of NBSSI. While most policies actually failed due to poor implementation, others however, succeeded. Few studies have been made in the past to identify the role of MSMEs to the development of Ghana’s economy, its problems and prospects which created a vacuum on the role of government and other financial institutions in the development of MSMEs. This study evaluates the role of Rural and Community Banks as a powerful tool for the poverty alleviation and entrepreneurial development in Ghana. Relevant literatures were reviewed to bring out salient issues on the subject matter of this paper. It was discovered that Ghanaian MSMEs face many domestic challenges in achieving economies of scale. It was concluded that these challenges are question marks on the viability of the RCBs. Many factors were found to contribute to mediocre performance of RCBs. These factors include inadequate cohesive regulatory and supervisory system for the RCBs, shortage of human capital, lack of capital, inadequacy of IT knowledge and entrepreneurs’ personal shortcomings. The researchers recommend introduction of good legal, policy and regulatory environment for the RCBs. In addition, Government should pursue its decentralisation policies, particularly financial decentralisation, and ensure that funds meant for district assemblies are channelled through RCBs in their catchment areas. Keywords: Challenges, Employment generation, RCBs, MSMEs, Ghan

Overexpression of \u3ci\u3eSbMyb60\u3c/i\u3e impacts phenylpropanoid biosynthesis and alters secondary cell wall composition in \u3ci\u3eSorghum bicolor\u3c/i\u3e

The phenylpropanoid biosynthetic pathway that generates lignin subunits represents a significant target for altering the abundance and composition of lignin. The global regulators of phenylpropanoid metabolism may include MYB transcription factors, whose expression levels have been correlated with changes in secondary cell wall composition and the levels of several other aromatic compounds, including anthocyanins and flavonoids. While transcription factors correlated with downregulation of the phenylpropanoid biosynthesis pathway have been identified in several grass species, few transcription factors linked to activation of this pathway have been identified in C4 grasses, some of which are being developed as dedicated bioenergy feedstocks. In this study we investigated the role of SbMyb60 in lignin biosynthesis in sorghum (Sorghum bicolor), which is a drought-tolerant, high-yielding biomass crop. Ectopic expression of this transcription factor in sorghum was associated with higher expression levels of genes involved in monolignol biosynthesis, and led to higher abundances of syringyl lignin, significant compositional changes to the lignin polymer and increased lignin concentration in biomass. Moreover, transgenic plants constitutively overexpressing SbMyb60 also displayed ectopic lignification in leaf midribs and elevated concentrations of soluble phenolic compounds in biomass. Results indicate that overexpression of SbMyb60 is associated with activation of monolignol biosynthesis in sorghum. SbMyb60 represents a target for modification of plant cell wall composition, with the potential to improve biomass for renewable uses

Rotary kiln transport phenomena: a study of the bed motion and heat transfer

Thermal processing of materials in rotary kilns involves heat transfer from the freeboard to the boundary surfaces of bed material and the distribution of this thermal energy within the granular bed. Although the former has been reasonably well characterized, the latter has not, mainly because of difficulty in predicting flow within the bed. Bed motion in the cross-section is fundamental in determining advective heat transport as well as axial progress of the bed material, but to date studies have been mainly empirical and aimed at determining the overall bed motion but not the detailed information required to evaluate transport phenomena. The current study is therefore aimed at the development of a flow model for the bed transverse plane and the subsequent application of this model in order to determine both segregation and temperature distribution in two-dimensions. The development of the flow model was based on granular flow theories used for chutes, avalanches etc., since these also involve granular materials and it involves aspects of fluid mechanics, soil mechanics, and rheology. The constitutive equations for such flows draw on the assumption of a continuum similar in some regard to viscous fluids except that the equilibrium states of the theories are not states of hydrostatic pressure but are rather states that are specified by a yield criterion. By considering the active layer (the shearing region near the bed surface) to be thin, relative to the chord length, the applied granular flow equations reduce to the boundary layer equations of Prandtl, which are solved to obtain the active layer thickness and the velocity field in the cross-section. An experimental campaign was organized in order to study the characteristics of transport mechanisms and to provide the relevant boundary conditions for the flow model. In addition, it provided data for the validation of the mathematical model. Granular flow behavior studies were carried out in an 0.96 m I.D. rotary drum. Granular materials studied included polyethylene pellets, long grain rice, and limestone. Particle velocity measurements were made using optical fibre probes from which the active layer depth was established. The mathematical model, supported by the experimental studies, found the solids concentration to be the most sensitive parameter of the flow behavior. Hence, as the dilation of the bed increases, the quantity of the material entering into the sheared region (i.e., active layer) also increases. Increasing the coefficient of restitution of the particles by a fraction results in a decrease in the granular temperature, and for that matter, diffusion by tenfold. However, the coefficient of restitution has almost no effect on the shear rate; i.e., on active layer depth or velocity in the active layer. The effect of the angle of repose of the material on the flow behavior is similar to that of the coefficient of restitution of the material. Good agreement is found between model predictions and experimental results. The model was used to establish kinetic diffusion; the velocity field required for the calculation of the advective transport of sensible heat in the bed, and also particle segregation in the bed. Segregation of particles, due to size and density differences, is known to occur in rotary kilns and promotes temperature no uniformities but has not been quantified due to inadequate flow models. Most previous studies characterize segregation by statistical methods which, although often helpful, tend to conceal the details of the phenomenon and yield little information. A model was developed to predict the preferential movement of particles in the shearing active layer. This model determines the extent of fine particle segregation and is based on the principle of percolation in the active layer, whereby fines sieve through the matrix of the bed to form a segregated core. Incorporating the flow results, it was possible to establish the dimensions of the segregated core as well as fines (jetsam) concentration in the rest of the bed cross-section. This result is used to assess the effect of segregation on bed temperature nonuniformities. A mathematical model was developed to predict heat transfer from the freeboard gas to the bed and the redistribution of this energy within the bed. The thermal model incorporates a two dimensional representation of the bed transverse plane into a convention alone-dimensional, plug flow type model for the rotary kiln The result a quasi-three-dimensional rotary kiln model, significantly improves the ability to simulate conditions within the bed without the necessity of rigorously accounting for the complex flow and combustion phenomena of the freeboard. The combined axial and bed model, which is capable of predicting the temperature distribution within the bed and the refractory wall at any axial position of the kiln, is used to examine the role of the various mechanisms for heat transfer over a cross-section of a kiln, for example the regenerative action of the wall and the effect of the active layer of bed material on redistribution of energy within the bed. The results from the mathematical model are in agreement with experimental data obtained from a well instrumented 0.41 m I.D by 5.5m long pilot kiln. For a stationary kiln (no rotation), measured thermal gradients in the radial direction of the bed are in agreement with model predictions, thus validating the continuum assumption employed by the model. For a rotating kiln the temperature distribution within the bed shows a strong dependence on bed behavior; i.e. the flow pattern in the transverse plane. Because the bed material is turned over about three times per kiln revolution, the Peclet numbers for material flow in the cross-section are sufficiently large to ensure the predominance of advective heat transfer over conduction effects. The model is used to demonstrate that, for a segregated bed of small and large particles, or for zero mixing, as would prevail in some cases of slumping and/or slipping bed behavior, radial temperature gradients (about 100°C) are possible within the bed. Conversely, it is shown that, for uniform size particles, and in the rolling bed mode, self diffusion enhances effective bed thermal conductivity, the temperature gradients will vanish, and the bed material in the transverse plane must be essentially isothermal. The global model consisting of the granular flow model, the segregation model, and the heat transfer model, can be a useful tool to predict temperature no uniformities in rotary kiln processes and to achieve product quality.Applied Science, Faculty ofMaterials Engineering, Department ofGraduat