African Journal of Accounting and Social Science Studies

Financial Literacy and Investment Decisions among Pito Brewers in the Upper West Region of Ghana

Musah Dumah, Kuri Nashiru — Sat, 14 Feb 2026 00:00:00 +0000

The study examined the financial literacy levels of pito brewers in the Wa
Municipality and how these levels influence respondents’ investment decisions,
drawing on the prospect theory to explain observed behavioral patterns such as
loss aversion and framing effects. A descriptive research design was adopted
using primary data through the administration of 120 structured questionnaires
to selected pito brewers in the Wa Municipality. Descriptive statistics and factor
adequacy tests were employed to analyze financial literacy levels and their
nexuses with investment decision-making. The findings revealed that pito brewers
possessed a moderate level of financial literacy, which positively influenced their
investment decisions. However, most respondents had no formal education and
earned discretionary monthly incomes ranging between GH₵1,000 and
GH₵3,000. Consistent with the prospect theory, the results suggest that pito
brewers exhibit loss-averse behavior, whereby perceived potential losses
discourage investment participation more strongly than equivalent gains
encourage it. Additionally, investment decisions were found to be sensitive to the
framing of financial outcomes, reflecting susceptibility to framing effects.
Although financial literacy improved confidence in decision- making, its
moderate level was insufficient to reduce risk aversion significantly. The study
was limited to pito brewers in the Wa Municipality, which may restrict the
generalizability of the findings to other regions or occupational groups within the
informal sector. The study highlights the need for targeted financial literacy
programs that will not only enhance technical financial knowledge but also
address behavioral biases such as loss aversion and framing effects to improve
investment participation among informal sector workers in Ghana.

CEO Attributes and Corporate Environmental Disclosure: Evidence from Non-Financial Firms Listed on the Nairobi Securities Exchange in Kenya

Anthony Magoma, Sadiki Sumawe, Momole Kasambala — Sat, 14 Feb 2026 00:00:00 +0000

This study examines the influence of the Chief Executive Officer (CEO) attributes
on the corporate environmental disclosure (CED) among 20 non-financial firms
listed on the Nairobi Securities Exchange (NSE) in Kenya from 2016 to 2023.
Despite the growing importance of environmental disclosure in emerging
economies, there is limited empirical evidence on how CEO traits shape
corporate environmental disclosure in the Kenyan context. This study intends to
fill that gap. The study is grounded in Upper Echelons Theory and Agency
Theory. The study employs a balanced panel dataset of 160 firm-year
observations and applies fixed effects regressions and the Generalized Method
of Moments (GMM) technique to mitigate the endogeneity concerns inherent in
panel data analysis. The findings reveal that CEO tenure exerts a positive and
significant influence on CED, while CEO gender and remuneration show a
negative and statistically insignificant effect on CED. The study contributes to
the body of corporate governance and sustainability literature by providing new
empirical insights from the under-researched African capital market,
highlighting the role of long-tenured CEOs in enhancing environmental
reporting practices. Practically, the findings suggest that the boards, investors,
and regulators may consider CEO tenure as an important governance
characteristic in relation to corporate environmental reporting. The study
recommends that policymakers strengthen disclosure guidelines and encourage
leadership stability to enhance the quality and consistency of CED in emerging
economies like Kenya

Mediating Role of Market Stakeholders’ Activities on the Relationship between Logic and Business Sustainability: Special Reference to Cashew Nut Farmers in Tanzania

Felex Vicent — Sat, 14 Feb 2026 00:00:00 +0000

The paper assessed the mediation role of market stakeholders’ activities in
establishing the relationship between logic and cashew nut farming business
sustainability in Tanzania. Clearly, it addressed the link between logic and
business sustainability, market stakeholders’ activities on business
sustainability, and the mediating role of market stakeholders’ activities on the
association between logic and business sustainability. The study adopted an
explanatory design, while arbitrary selection was utilized to select 360 cashew
nut farmers. The research data, which were analyzed using structural equation
modeling, were gathered using controlled collection forms. Findings revealed
that both logic and market stakeholders’ activities had a positive and substantial
impact on business sustainability at 1% level (p<0.001). The partial intervention
effect of market stakeholders’ activities on the link between logic and business
sustainability was also addressed. The research determined that both logic and
market stakeholders’ activities are forecasters of business sustainability. Market
stakeholders’ activities incompletely intercede the association between logic and
business sustainability. The study recommends that all institutions dealing with
cashew nut farming in Tanzania create initiatives that encourage farmers and
market stakeholders to participate more in cashew nut business to ensure its
sustainability.

Effects of Board Gender Diversity on Non-Performing Loans: A Case of Tanzanian Banks

Mwanaisha Mussa Mang’oro, Juliana Stanley Isanzu — Sat, 14 Feb 2026 00:00:00 +0000

This study examined how board gender diversity affects non-performing loans
(NPLs) in Tanzanian banks, with a focus on the influence of women’s
representation and participation on loan performance. Grounded in the Resource
Dependency Theory, which underscores the value of diverse perspectives in
organizational decision-making, the research addresses whether increased
female inclusion on boards enhances credit risk management. The study was
conducted in Dar es Salaam, Tanzania’s financial hub and employed a
descriptive design with a quantitative approach. Data were collected using
structured Likert-scale questionnaires administered to 101 respondents,
including board members, senior management, and credit officers from NMB,
CRDB, and NBC. Simple random sampling was used to ensure fair participant
selection, and the sample size was determined using the Yamane formula from a
population of 134. Data were analyzed using descriptive and regression
techniques. The results revealed that a higher proportion of women on boards
and overall gender diversity significantly reduced non-performing loans (NPLs),
while the presence of women in leadership positions alone did not show a
statistically significant effect. These findings indicate that inclusive board
composition strengthens governance, loan approval processes, and risk
management. The study concludes that gender diversity on boards plays a vital
role in enhancing financial performance and reducing loan defaults, and it
recommends policies to promote board-level gender inclusion, capacity-building
for female leaders, and continuous monitoring of gender impacts in banking
governance.

Consequence of Market Stakeholders’ Engagement in Cashew Nut Supply Chain Resilience in Tanzania Mediated by Institutional Legitimacy: Cooperatives Managers’ Perspectives

Felex Vicent — Sat, 14 Feb 2026 00:00:00 +0000

This study examined the consequence of market stakeholders’ engagement on
cashew nut supply chain resilience in Tanzania, with institutional legitimacy
serving as a mediating factor. The objectives were to examine the consequence
of market stakeholders’ engagement on supply chain resilience, examine the
consequence of institutional legitimacy on supply chain resilience, and examine
the mediating role of institutional legitimacy in the relationship between market
stakeholders’ engagement and supply chain resilience. The study employed an
ex-post facto research design and a simple random sampling technique to select
260 units of analysis. Data were collected using a structured questionnaire and
analyzed through structural equation modeling (SEM). The findings indicate that
market stakeholders’ engagement has a positive and significant effect on supply
chain resilience. Similarly, institutional legitimacy was found to exert a
significant and positive influence on supply chain resilience. Additionally, the
results revealed that institutional legitimacy partially mediates the relationship
between market stakeholders’ engagement and supply chain resilience. The
partial mediation effect of institutional legitimacy represents a novel insight
contributed by this study, providing a foundation for future research in supply
chain management. The findings suggest that enhancing supply chain resilience
requires both active engagement of market stakeholders and the presence of
legitimate institutional frameworks.

The role of Institutional Procedure on the Adoption of Artificial Intelligence in Teaching and Learning Process in Higher Learning Institutions in Tanzania: A Systematic Literature Review (2019 – 2025)

Wilson P Mwakyusa, Lukas Masome Ng`webeya — Sat, 14 Feb 2026 00:00:00 +0000

Artificial Intelligence (AI) has recently gained significant attention, specifically
in the transformation of education in HLIs. Therefore, AI has the potential to
reform the education process, including the transformation of the teaching and
learning process within HLIs. This systematic literature review aims to provide a
comprehensive understanding of the role of institutional procedures on the
adoption of AI in teaching and learning processes in the context of HLIs in
Tanzania. The systematic review approach includes a systematic identification,
selection, and combination of literature from different sources and databases.
The search strings and keywords tailored to the adoption of AI in higher
education and teaching and learning processes were applied to ensure relevant
studies are included in the in-depth analysis. Rigorous screening based on the
predefined inclusion and exclusion criteria was conducted based on the PRISMA
2020 model, which extracted 28 papers. Three theme categories were
thematically identified. Findings show that no HLIs in Tanzania have fully
engaged AI in academic research nor in the teaching and learning process.
Additionally, the key themes like institutional policy, environment readiness, and
institutional strategies as factors within institutional procedure play an important
role in AI adoption for the teaching and learning process within HLIs. The
findings further highlight that ethical considerations and AI awareness also may
enhance the adoption process. The study then proposed the AI adoption
framework, which can be validated in future research. The study further
recommends that HLIs need to develop an adaptive AI adoption policy and its
strategies for the teaching and learning process. The study makes both practical
and policy contributions.

Firm-Specific Characteristics and Financial Leverage of Non- Financial Firms Listed at Dar es Salaam Stock Exchange

Gabinus Eleterius Nkwera — Sat, 14 Feb 2026 00:00:00 +0000

This study examines the influence of firm-specific characteristics namely
profitability, asset tangibility, firm size, and growth opportunities on leverage
among non-financial firms listed on the Dar es Salaam Stock Exchange (DSE) in
Tanzania. Grounded in the trade-off and pecking order theories, the research
explores how these internal firm attributes shape leverage decisions in an
underexplored emerging market context. Leverage, the dependent variable, was
measured using short-term debt, long-term debt, and total debt ratios. The study
employed secondary data obtained from the audited financial statements of 11
non-financial firms listed on the DSE for the period 2016–2023, resulting in a
balanced panel dataset of 88 firm-year observations. Hypotheses were tested
using a combination of robust random-effects and robust fixed-effects panel
regression models. The findings reveal that profitability exerts a significant
negative effect on all measures of leverage, while growth opportunities
significantly increase total debt. Firm size was found to have no significant
impact on leverage, whereas asset tangibility positively affects long-term and
total debt but does not significantly influence short-term debt. These results
indicate that firm-specific characteristics are critical determinants of leverage in
Tanzanian non-financial firms. Based on these findings, the study recommends
that managers consider profitability when evaluating financing decisions, and
investors prioritize appropriate debt levels to mitigate bankruptcy risk.
Additionally, firms should strive for a balanced and sustainable debt structure to
enhance shareholder value and investor confidence. The study further suggests
that future research investigate other potential determinants of leverage,
including tax shields, ownership structure, business risk, liquidity, and dividend
payout policies, to deepen understanding of leverage dynamics in emerging
markets.

Socio-economic Factors Influencing Adoption of Climate Smart Agriculture Among Maize Smallholder Farmers in Kalambo District, Tanzania

Elimeleck Akyoo — Sat, 14 Feb 2026 00:00:00 +0000

Climate Smart Agriculture (CSA) has the potential to improve production, reduce
food security and reduce the impacts of climate change. However, the adoption
of CSA in maize production is still very low in Kalambo District. The study was
conducted to assess socio-economic determinants of CSA adoption by
smallholder maize farmers. Specifically, the study was conducted to assess the
socio-economic characteristics of smallholder maize farmers and analyse socio-
economic determinants of smallholder maize farmers’ adoption of CSA. The study
employed a cross-sectional research design, and multistage sampling technique
was employed to select Rukwa Region, Kalambo district, wards and villages. A
sample size of 395 respondents was determined by using Yamane’s formula, and
a household survey questionnaire was used to collect data using a household
questionnaire. The study adopted quantitative techniques whereby data were
analysed descriptively and inferentially; for the latter, binary logistic regression
was done. The results indicated that four variables, education, household size,
access to information about CSA, and maize farming experience, out of ten
variables which were entered in the model, were significant predictors of
adoption of CSA by smallholder maize farmers (p < 0.05). It is concluded that
the four socio-economic factors are the ones that mainly influence smallholder
maize farmers to adopt or not to adopt CSA. It is recommended that, in order to
increase the number of smallholder farmers adopting CSA, extension officers
should create awareness among smallholder maize farmers about maize CSA in
order for them to make an informed decision to adopt it. Also, smallholder maize
farmers should be trained on CSA technologies for maize farming as education
has been proven to enhance their chances of adopting CSA.

The Interplay of Primary School Teachers’ Job Satisfaction and Work Performance in Tanzania Public Service Management

Hassanal Issaya — Sat, 14 Feb 2026 00:00:00 +0000

This study assessed the influence of job satisfaction on the work performance of
primary school teachers in public schools, using Mkuranga District Council as
a case study. Mixed method approach was employed in which data were collected
from a sample of 120 respondents. Quantitative data were analysed using
descriptive statistics, while qualitative data were subjected to content analysis.
The findings indicate a strong relationship between job satisfaction and teacher
performance, with 97% of respondents reporting that job dissatisfaction
adversely affects their effectiveness in public primary schools. The study further
reveals that a supportive work environment plays a critical role in enhancing
teachers’ morale and performance. Key factors influencing job satisfaction
include timely and adequate remuneration, a conducive working environment,
access to teaching and learning resources, a positive relationship between staff
management, and opportunities for professional development. Based on these
findings, the study recommends that the Ministry of Education, Science and
Technology (MoEST) strengthen policies aimed at improving teachers’ working
conditions, particularly by ensuring competitive salaries and timely payment of
allowances. Additionally, the study underscores the importance of sensitising
teachers about their professional rights and entitlements through regular
workshops and seminars. Beyond financial incentives, the findings emphasise the
need for holistic strategies that foster supportive school environments to
sustainably enhance teacher motivation and performance in public primary
schools.

Factors Influencing Energy Drinks Consumption Among Adult Men in Tanzania: A Case Study of Tunduma Town Council in Songwe Region

MacLean Charles Mwamlangala — Sat, 14 Feb 2026 00:00:00 +0000

The increasing consumption of energy drinks among adults has become a
growing public health and behavioural concern worldwide. This study examined
factors influencing energy drink consumption among adult men in Tunduma
Town Council, Songwe region, Tanzania. A cross-sectional design used a mixed-
methods approach; data were collected through interviews, surveys, focus group
discussions, and documentary reviews, predominantly quantitative and
supported by qualitative data. Quantitative data were collected from 397 adult
men using structured questionnaires, while 20 purposively selected key
informants provided qualitative insights. Quantitative data were analysed using
descriptive statistics and multiple linear regression with the aid of IBM SPSS
version 28 as a statistical tool. Whereas qualitative data were thematically
analysed using NVivo version 12. The results show that taste and perceived
improvement in work performance were the main reasons for energy drink
consumption. Regression analysis revealed that physical performance,
rehydration, mood improvement, peer influence, advertisement and branding,
and perceived sexual performance enhancement were significantly associated
with energy drink consumption (p ≤ 0.05). The study concludes that energy drink
consumption is largely driven by performance-related perceptions and social
influence rather than health awareness. Based on these findings, the study
recommends that the Ministry of Health, in collaboration with relevant
regulatory authorities, should strengthen community-based health education
programs to raise awareness of the potential health risks associated with
excessive energy drink consumption, particularly among adult men.