Browsing by Author "Akomea-Frimpong, I."
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Item Barriers to sustainable agribusiness: a systematic review and conceptual framework(Emerald, 2022) Brenya, R.; Akomea-Frimpong, I.; Ofosu, D.; Adeabah, D.Purpose – As global concerns for sustainability have gained traction in all sectors of every economy including agribusiness, the need to investigate the critical barriers that could hamper this novelty has also risen. In that regard, this study presents a comprehensive overview of the dominant barriers encountered by agribusinesses to ensure long-term success through the lenses of a literature review. Design/methodology/approach – The study used a systematic literature review (SLR) of 43 relevant articles. The study applies content analysis to identify and analyze the selected articles. The conceptual framework underlines the three principal barriers to sustainable agribusinesses. Findings – The results from the SLR demonstrates that inadequate financial support, excessive post-harvest loss, gender inequality, non-climate-smart policies and weak institutional controls constitute the major challenges to the sustainability of agribusinesses. Research limitations/implications – The study is limited in scope to barriers to the sustainability of agribusiness only not the broad spectrum of the concept of agriculture. Originality/value – This study’s uniqueness is twofold. First, it provides a checklist for practice with the goal of addressing problems that hamper the sustainability of agribusinesses. Second, the findings and research gaps in this study are important to support future studies.Item Causes, Effects and Deterrence of Insurance Fraud: Evidence from Ghana(University Of Ghana, 2016-02) Akomea-Frimpong, I.This study measures the extent of effects of insurance fraud on the financial performance of insurance companies in Ghana. It also examines the causes, and stringent measures that can be used to fight against insurance fraud. Primary and secondary data obtained from 39 insurers in Ghana are employed in this study. A multiple regression model is used to determine the relationship between financial performance and insurance fraud variables. The results from the model indicate that statistically insurance fraud has a significant negative effect on the annual return on assets (financial performance) of insurers in Ghana. Also, responses from the survey questionnaires indicate that weak internal controls, poor remuneration of employees, falsified documents, deliberate acts of policyholders to profit from the insurance contract and inadequate training for independent brokers are the major causes of insurance fraud in Ghana. To deter insurance fraud: effective internal fraud policy, rigorous assessment of insurance policies and claims of consumers, adequate training and supervision for independent brokers as well as application of technological tools and techniques are key methods to fight this menace. These findings are to have substantial implications on the techniques insurance companies will develop to fight insurance fraud and the policies that will be developed by governments and national insurance regulatory bodies to fight this menace. Keywords: Ghana, Internal fraud, Intermediary fraud, Policyholder fraud, Return on AssetsItem Control of fraud on mobile money services in Ghana: an exploratory study(Journal of Money Laundering Control, 2019-05-07) Andoh, C.; Akomea-Frimpong, I.; Akomea-Frimpong, A.; Dwomoh-Okudzeto, Y.Purpose – Fraud is a global economic menace which threatens the survival of individuals, firms, industries and economies, and the mobile money service is no exception. This paper aims to explore the main causes of fraud in the mobile money services in Ghana and the measures to combat the menace by the key stakeholders connected to the mobile money services. The paper is motivated by recent reports of numerous fraudulent transactions on the mobile money platform, and the need to clamp down these nefarious transactions with effective and practicalmeasures to sustain the service. Design/methodology/approach – A thorough review of existing studies on fraud risk relating to mobile money services was done revealing a paucity of literature on the subject. Primary data were gathered using an interview guide to explore the magnitude of the problem based on the views of employees of mobile money operators, mobile money agents, banking supervisors from Bank of Ghana, employees of partnering banks, employees of National Communications Authority and mobile money subscribers. Findings – The study revealed that fraud in mobile money services is caused by weak internal controls and systems, lack of sophisticated information technology tools to detect the menace, inadequate education and training and the poor remuneration of employees. These factors disrupt the growth, and the smooth-running of the services. To curb this menace, a detailed legal code and internal fraud policy should be developed and used by mobile money operators and partner banks. Adequate training for mobile money agents should be encouraged coupled with public awareness campaigns to educate stakeholders especially the mobile money subscribers on the tricks of the fraudsters. Research limitations/implications – With the chosen research methodology and limited sample size, the findings may not reflect the views of all the stakeholders connected to the mobile money services. Therefore, future studies on this subject are entreated to use research methods which embrace larger samples to get more details about this menace. Practical implications – The study will assist in tackling the mobile money fraud to sustain the service in the foreseeable future. Originality/value – This paper contributes to scanty literature on fraud relating to the mobile money services by drawing lessons from a middle-income country.Item Impact of Fraud on Ghanaian SMEs and Coping Mechanisms(Journal of Financial Crime, 2018-03) Andoh, C.; Quaye, D.; Akomea-Frimpong, I.Purpose Small and medium-scale enterprises (SMEs) are the engine of growth of most developing countries, as they employ a large number of people as opposed to large firms. Consequently, these enterprises should succeed in expanding to become significant employers and producers. However, what seems obvious at least through cursory observation is that the current state of SMEs betrays an economic loss with respect to the benefits that ought to be forthcoming from their potential. This loss can be triggered by a number of factors. The study determines the drivers of internal fraud and their impact on Ghanaian SMEs and prescribes coping mechanisms. Design/methodology/approach Primary data collected on 250 SMEs collected from various sectors across Accra, the capital of Ghana, are used for this study. Using a cross-sectional regression, the authors identify the key drivers of internal fraud that hamper the growth of Ghanaian SMEs. Findings The regression results show that although several fraud variables impact negatively the growth of the SME sector, it is only accounting fraud which is significant. This study also revealed that stealing, fake currency issued for the payment of goods or service and non-payment of goods or service account for almost 83 per cent of fraud cases experienced by SMEs. Research limitations/implications The study was limited to the SMEs located in the Accra, the capital of Ghana. Practical implications The study will offer SMEs owners methods that will assist in their determination to fight fraud in the business that they manage. Social implications The survival of SMEs is paramount to job creation. Consequently, combating fraud that stifle the growth of SMEs will allow SMEs to grow to their full potential and create more job opportunities for the unemployed. This will minimizes the social vices such as robbery, stealing, drug trafficking and prostitution that confront nations. Originality/value This study should be useful to managers of SMEs, auditors and the security agencies in developing economies in particular, in their quest to combat fraud within SMEs.Item A review of studies on green finance of banks, research gaps and future directions(Taylor & Francis Group, 2021) Akomea-Frimpong, I.; Adeabah, D.; Ofosu, D.; Tenakwah, E.J.With growing global concern for environmental protection, climate change and sustainable development, policymakers and researchers have recently focused on green finance. In this study, existing studies on green finance in the context of the banking sector have been reviewed with considerations on products and determinants of green finance. The content analysis approach has been used to critically analyse and summarize forty-six (46) relevant studies. The results found green securities, green investments, climate finance, carbon finance, green insurance, green credit and green infrastructural bonds as part of key green finance products of banks. Pertinent determinants the study found to be influencing green finance policies from banks include environmental and climate change policies, interest rates, religion, risks, social inclusion and social justice as well as banking regulations. In theory, this study provides a guide for further studies. The results of the study will assist banks on the key issues to consider in adopting, developing and granting green finance.Item Understanding and controlling financial fraud in the drug industry(Journal of Financial Crime, 2020-01-31) Andoh, C.; Akomea-Frimpong, I.Purpose – This study aims to assess the fraud cases, factors and control measures of financial fraud in the drug industry with evidence from Ghana. Drug industry and pharmaceutical are the same, and they are used interchangeably in this study. Design/methodology/approach – Data from questionnaires were collected from 412 manufacturers, wholesalers and retailers of the drug industry. Data were presented and analysed with descriptive statistics and probit regression. Findings – Results show that, in general, stealing of drugs, stealing of cash, usage of fake cheques, falsified documents and dubious accounting practices are some of the fraud cases in the industry. Factors such as gender, educational level, religious beliefs, regulatory 7measures, pressure, rationalization and opportunities influence financial fraud in the drug industry. Control measures such as thorough assessment of products, regular review of fraud policies, installation of fraud-detection software and effective internal systems could reduce the menace. Research limitations/implications – The paper addresses a number of theoretical and systemic issues on financial fraud in the drug industry but with limited specific quantitative data or calculations as well as limited sample size. Further studies could offer a more quantitative approach with a larger sample size in an attempt, for instance, to estimate the financial costs of financial fraud to the drug industry. Practical implications – This paper openly tackles various attempted frauds and financial malfeasances from stakeholder perspectives in the drug industry. Practical measures have been given to tackle the consequences of the menace. Originality/value – This paper is geared towards providing valuable learning points for stakeholders in the drug industry to handle daily operations to assist them in detecting and preventing similar occurrence of financial fraud.