African Journal of Accounting and Social Sciences

When Diversity Meets Experience: Unpacking the Tension between Board Diversity and CEO Experience in East African Listed Firms

Peter Dastan Mshana, James Moses Dendula, Alex Robert Marwa — Fri, 25 Jul 2025 00:00:00 +0000

Corporate governance is essential for the achievement of a company’s objectives
as a way of mitigating agency problems. This study explored the influence of
board diversity on the financial performance of East African listed companies
and the moderating role of CEO Experience. Our study utilized secondary data
from the East African stock exchange markets: the Nairobi Stock Exchange, the
Dar es Salaam Stock Exchange, the Uganda Stock Exchange, and the Rwanda
Stock Exchange. Our sample included 36 listed nonfinancial companies in East
Africa, making a total of 325 observations. We employed fixed-effects regression
analysis to investigate the relationship. Our primary finding shows that board
diversity positively and significantly influences the financial performance of East
Africa-listed companies. Additional analysis reveals that a CEO with prior
experience weakens the influence of diversity on financial performance. Our
findings are robust to alternative measures of diversity. More female directors
improve the influence of diversity on financial performance. However, it should
not exceed 30 percent of the board members. This study contributes theoretically
to corporate governance literature and informs policymakers on the crucial role
of diversity on the board in East Africa

Determinants of Working Capital Requirements Listed Companies in East Africa: An Empirical Study Using Generalised Method of Movements

Sadiki Sumawe, Lucas Magoti — Fri, 25 Jul 2025 00:00:00 +0000

Effective working capital management is essential to a company’s survival.
Working capital management helps managers in the value creation of the
company and prevents the possibility of insolvency. This leads managers and
researchers to make an effort to identify variables that affect working capital
management. The main focus of this study is to examine the determinants of
working capital requirements of non-financial firms listed in East African stock
markets. Working capital requirement as a dependent variable was presented by
the ratio of current assets less current liabilities over total assets and cash
conversion cycle. However, the independent variable was represented by return
on assets, sales growth, firm size, leverage and operating cash flow, while the
country's gross domestic product growth rate was used as a control variable. For
the company to be financially successful, it depends much on how financial
managers use their skills to ensure that management of working capital is
maintained at an optimal balance. The study used both a descriptive and a
quantitative research design. Listed non-financial companies in East Africa,
covering the period of 8 years from 2016 to 2023, were selected to represent the
sample. Data analysis was done by eView12 using the panel generalised method
of movement to establish the relationship between dependent and independent
variables. This study concluded that there is a significant positive influence of
return on assets, growth, firm size and operating cash flow on working capital
requirement. This indicates that if the firm wants to grow and improve
profitability it must increase the level of working capital. Furthermore, leverage
and firm size were revealed to have a negative and significant influence on
working capital requirement. Then, if the firm is highly geared, it leads to a
reduction in the level of working capital. Moreover, GDP growth rate impacts
working capital requirement positively, meaning that when the country's GDP
increases, the company demands more cash to finance their working capital.

Harnessing the Supply Chain Attributes in the Contractor Evaluation Matrix: Empirical Analysis of the Influence of Supply Chain Attributes

Hemed Juma — Fri, 25 Jul 2025 00:00:00 +0000

Through a systematic review of the literature, this study identifies a gap in the
current evaluation criteria for contractor competence that often overlooks the
critical supply chain attributes that influence project success. This study
investigated the mediating roles of supply chain commitment, collaboration, and
resilience in the relationship between contractor competence and the success of
public projects. It posits that successful public projects necessitate not only
proficient contractors but also a resilient and cooperative supply chain,
especially in the context of disruptions such as those caused by the COVID-19
pandemic. Utilising a quantitative research methodology and data from project
stakeholders in Tanzania, this study reveals that while contractor competence is
linked to public project success, it is insufficient without the mediating effects of
supply chain collaboration and resilience. The findings indicate that supply chain
resilience significantly enhances the positive relationship between contractor
competence and public project success, whereas supply chain commitment does
not exhibit a mediating effect. This study underscores the necessity for public
procurement entities to incorporate supply chain dynamics into contractor
evaluation criteria to mitigate project delays, cost overruns, and quality issues,
thereby fostering improved project outcomes. This study contributes to the
discourse on public project management by emphasising the interdependence of
contractor competence and supply chain attributes in achieving project success.

The Influence of Resource Orchestration on Entrepreneurial Growth: Can Strategic Partnerships Mediate?

Yohana Arsen Rutaba — Fri, 25 Jul 2025 00:00:00 +0000

This study aimed to find out if strategic partnerships can mediate the relationship
between resource orchestrations on entrepreneurial growth. The study is
grounded by Resource Orchestration theory (RO). The hypotheses tested in this
study included alternative hypotheses: resource orchestration (ROCN), positive
influence entrepreneurial growth (ENTG), strategic partnership (STPS) positive
influence entrepreneurial growth and strategic partnership mediates the
relationship between resource orchestration and entrepreneurial growth. In this
investigation, a quantitative approach was employed because the focus was on
analyzing the relationships between variables and testing hypotheses, aligning
with the study's objectives. The study adopted a cross-sectional survey design and
data were gathered from managers of privately owned organizations in Dodoma
city, Tanzania. The study categorized organizations as strata and employed a
stratified simple random sampling technique. A structured questionnaire
consisting of closed-ended questions based on a five-point Likert scale was used.
To determine the sample size, a-priori sample size calculator was utilized for
structural equation models. The analysis indicates that both ROCN and STPS
have direct effects on ENTG. The analysis shows positive relationship between
ROCN and STPS with coefficient of 0.2190, positive relationship between ROCN
and ENTG with coefficient of 0.5213 and ENTG and ROCN with coefficient of
0.3645, all the significant P-values (0.0000). Additionally, there is evidence of an
indirect effect of ROCN on ENTG through STPS, with a coefficient of 0.0496 on
the effect of ROCN on ENTG through STPS, indicating mediation. Therefore,
strategic partnerships may be utilized to play a crucial role in translating the
potential benefits of orchestrating the resources into tangible entrepreneurial
growth outcomes. In order to attain sustainable growth, business organizations
should therefore concentrate on effectively managing resources, coordinating
partnerships and exploiting external opportunities. The findings suggest that
relevant policies should encourage and support training programs that are aimed
at enhancing firms’ internal resource management capabilities. In terms of
theory, this research study contributes to the understanding of resource
orchestration and its role in organization performance and growth.

Board Structure and Risk-taking in the Extractive Industry in Kenya

Sadiki Sumawe, Gwatako Tago — Fri, 25 Jul 2025 00:00:00 +0000

The purpose of this paper is to investigate the relation between board structure
and firm risk-taking in a sample of 8 extractive firms listed on the Nairobi
Securities Exchange (NSE). The agency theory provided the theoretical
foundation for this study. The study adopted a descriptive research design. It
employed a purposive sampling technique to determine the sample size of
extractive firms on the NSE from 2019-2023. The data was retrieved from annual
reports of sampled firms. Further, Fixed Effect Model and Two-stage Least
Squares (2SLS) methods supported data analysis and reliability check,
respectively. Using 5 years of balanced panel data, the results show that board
size and female gender diversity are statistically significant, negatively and
positively associated with firm risk-taking (z-score), respectively. Additionally,
evidence indicates that the interaction between independent directors and female
gender terms is positively related to the z-score. In contrast, the findings on the
relationship between independent directors and risk-taking are considerably
mixed. Besides, the study highlights practical implications for policy reforms that
require more extractive firms to list on stock exchanges and mandate female
board representation. Finally, the study offers a literature review on the linkage
between risk-taking and board structure in the extractive industry.

Prevalence and Causes of Stress among Employees in Tanzanian Local Government Authorities: An Experience from Chemba District Council

Hezbon Mtawa, Bihadija Kipwata, Wilfred Lameck — Fri, 25 Jul 2025 00:00:00 +0000

Workplace stress has increasingly been reported to be an issue of concern in the
global, regional and local workforce. Several studies have contributed to
knowledge on stress especially on effects of stress in several specific sectors
leaving prevalence level and causes of stress with scanty information. This paper
applied Conservation of Resources (COR) theory to address two study objectives
mainly; to determine the prevalence of stress among employees and to examine
the causes of stress among employees at Chemba District Council. The study
employed a Cross-sectional research design and collected data from 14 key
informants and from 60 respondents through interview and questionnaire
methods respectively. The study collected both qualitative data and quantitative
data which were analysed by content analysis method and descriptive statistics
method respectively. The findings reveal that a good number of employees
accounting to 80% have at least experienced stress whereby, huge workload,
work deadlines, family challenges, financial challenges and job insecurity are
significantly causing stress among employees at Chemba District Council. It is
concluded that, the revealed prevalence of stress among employees as a result of
several stressors needs supportive policies and mental health initiatives to
address adverse effects. It is recommended that Chemba District Council should
implement stress management programs like workshops, mindfulness training
and relaxation techniques to help employees cope with stress.

Factors Driving Industrialisation through Export Processing Zone Model: Tanzanian Experience

Joseph Kiria, Gabriel Komba, Francis Rilagonya, Andekirwa Msuya, Kibhuli Mwita — Fri, 25 Jul 2025 00:00:00 +0000

This study aimed to establish factors for successful industrialization for a country
like Tanzania. Specifically, this study sought to understand how industrialization
can effectively be implemented in a developing country like Tanzania. The study
employed a qualitative descriptive approach. Semi-structured face-to-face
interviews were used to obtain data and data was analysed using thematic
content analysis. The findings of the study revealed that engagement of the
private sector in the development of the industrial sector, recognition of the
political buy-in and support are decisive factors for industrialization, prioritizing
the industrial sector in the budget allocation process, active engagement of other
players from the industrial economy in the process of industrializing the country,
and ensuring consistency and stability of policies. This study adds onto the lack
of literature on the aspect under focus. Much has been debated in the literature
about approaches to industrialization as well as what constitutes good industrial
policy. However, this study extends the discussion by exploring factors for
successful industrial policy for a developing country like Tanzania

Behavioral Factors Influencing Students’ Loan Repayment in Tanzania

Momole Kasambala, Jacktan Stephen Musiba — Fri, 25 Jul 2025 00:00:00 +0000

This study examined behavioral factors influencing student loan repayment
among beneficiaries in Tanzania using a cross-sectional survey of 324
respondents. Findings revealed that 65% of respondents indicated a medium
likelihood of timely repayment if their income increased, while actual repayment
behavior was mostly rated as medium (61%), with only a small percentage
making high repayments. Although 65% acknowledged the importance of timely
repayment, prioritization of loan payments relative to other expenses was
generally low to medium. Guided by behaviorism theory, the study highlights a
disconnect between awareness of repayment importance and actual repayment
behavior, suggesting weak environmental reinforcement of repayment habits.
The study recommends strengthening incentives and penalties, improving
financial literacy, and adopting flexible repayment plans to enhance loan
repayment rates and sustainability of student loan schemes in Tanzania.

Socio-Economic Determinants of Financing of School Feeding Practices among Primary and Secondary School Children in Dar es Salaam, Tanzania

Elimeleck Akyoo, Stephen Akyoo — Fri, 25 Jul 2025 00:00:00 +0000

The significance of school feeding to school children cannot be over-emphasized.
Different school feeding programs provide different benefits that could support
students’ retention in schools, increase enrolment and attendance, increase
academic performance and enhanced participatory learning. The study assessed
socioeconomic determinants of school feeding financing in primary and
secondary schools. Specifically, the study examined association between socio-
economic status and food financing status in primary and secondary schools. The
study adopted a cross-sectional research design whereby a sample of 519
households was selected. Quantitative data were analysed with the aid of IBM-
Statistical Package for Social Sciences (SPSS) whereby descriptive statistics
were computed to obtain frequencies and percentage distributions of the
responses. A forward stepwise binary logistic regression model was used to
assess relationship between socio-economic characteristics and provision of
sufficient payment for school meals. The results of forward stepwise binary
logistic regression indicated that number of girls in school in the family, lowest
and second wealth quantile and fewer school boys were significantly related with
provision of sufficient payment for school meals in primary schools at the p<0.05
significance level, while employment status, sex, income, wealth quantile and
number of children in and out of school were significantly related with provision
of sufficient payment for school meals in secondary schools at the p<0.05
significance level. The study concludes that socioeconomic factors influence
ability of parents to afford payments for school meals in both primary and
secondary schools. Based on this, it is recommended that development
practitioners in the education sector should provide enabling environment
including facilitation of income generating activities among parents with
children in primary and secondary schools in order to improve their income
status which will eventually enable them to have the ability to finance school
feeding. The stakeholders in the education sector should create awareness to
parents of school children on the importance of financing school feeding
programs for their children. Local Government Authorities and otherstakeholders should develop mechanisms that will ensure effective financing of the school feeding programme in primary and secondary schools.

Factors Contributing to the Sustainability of Water Projects in Mufindi District, Tanzania

Mwajuma R. Yamlinga, Rose H. Kiwia — Fri, 25 Jul 2025 00:00:00 +0000

This study investigates the key factors influencing the sustainability of rural
water projects in Mufindi District, Tanzania, where challenges such as seasonal
variability, groundwater limitations, and inadequate infrastructure persist
despite national efforts to improve water access. Although water coverage in
rural Tanzania has expanded significantly rising from 50% in 2002 to nearly
80% in 2024 many systems fail within a few years due to poor maintenance, weak
governance, and limited community participation. The study stresses integrating
social, economic, environmental, and technical aspects to enhance sustainability
in rural water service delivery. Using quantitative research design and cross-
sectional survey method, the study sampled 260 respondents, including
household heads, project leaders, local government leaders and community
water committee members. Data were collected through structured
questionnaires measuring the influence of variables such as water accessibility
(distance, affordability, water facilities), management practices (leadership,
communication, maintenance systems), on sustainability of water projects.
Statistical analysis using SPSS Version 26 included descriptive statistics and
multiple linear regression, with Cronbach’s alpha confirming high reliability (α
> 0.70) of measurement instruments. Findings reveal that sustainability is
significantly influenced by maintenance systems, community communication
systems, water facilities, and proximity to water points, while affordability and
leadership also play critical roles. The study identifies leadership and
communication gaps in rural Tanzania, urging integrated, community-led
governance for sustainable water management. The insights offer practical
recommendations for policymakers, community, and water authorities to
collectively design more inclusive, resilient, and sustainable water projects,
tailored to the unique socio-economic and environmental conditions of rural
districts like Mufindi.