Financial literacy training and micro insurance on the financial performance of SMEs in the Sekondi-Takoradi Metropolis, Ghana
Ciciana Amoah · John N. Mungai
International Journal of Research in Business and Social Science · 2020 · Vol. 9 / Issue 7 · 247-256
Publication metrics
External links open provider records or DOI searches. Provider counts are not combined. Mendeley readership measures saves, not citations.
Dimensions
Live provider badge. If unavailable, use the Dimensions link above.
Observed 21 Oct 2026, 07:22 UTC
Observed 22 Oct 2026 03:19 UTC
Observed 21 Oct 2026 22:58 UTC
OpenAlex and Mendeley observations refresh on article visits, at most once per 24 hours. Unavailable data is not zero. Google Scholar opens a DOI search.
Citations received by this article, grouped by the year of the citing work. Crossref and OpenAlex lifetime totals remain separate in Publication metrics.
2017–2026 Annual history last updated:
Citations received
OpenAlex · year of the citing work
Hover over a year or focus the chart and use arrow keys to inspect values.
2017–2026 annual-history window. 2026 is year to date. Unknown years have gaps.
View data & coverage
2026 is incomplete. Within a successfully fetched ten-year window, omitted years mean zero. Years beyond a saved observation’s window remain unknown (—). Older citations are excluded, so this chart’s sum may differ from the OpenAlex lifetime total. The date above belongs to this annual history; an unsuccessful refresh keeps the previous observation.
Abstract
This research examines the effect of financial literacy training and micro insurance on the financial performance of Small and Medium Enterprises in the Sekondi-Takoradi Metropolis of Ghana. This study aims (i)to determine the effect of financial literacy training on the financial performance of SMEs, (ii) to establish the effect of microinsurance on the financial performance of SMEs; (iii) and to determine the moderating effect of government regulations on the relationship between financial literacy training, micro-insurance and the financial performance of SMEs. The study was based on the financial intermediation theory and Schumpeter’s theory of innovation. The study adopted an explanatory research design, using a sample size of 260 SMEs in the Sekondi-Takoradi metropolis, Ghana. A structured questionnaire was used to collect data on financial literacy training, micro insurance, financial performance, and government regulations from SME owners and microfinance institutions. Analysis of the data collected revealed that both financial literacy training and micro-insurance had a positive and significant effect on the financial performance of SMEs. The study recommends that the management of microfinance institutions that provide financial literacy training and micro-insurance should undertake a survey on the needs of SMEs and the specific challenges they face in accessing microfinance services.
Keywords: {'name': 'Small and medium enterprises, Financial Literacy Training, Micro Insurance, Ghana '}
Authors & affiliations
Ciciana Amoah
Affiliation not supplied
John N. Mungai
Affiliation not supplied
Deposited references
Supplied references, not a list of publications citing this article.
Alando, T. A. (2014). An assessment of the effect of micro-insurance on the financial performance of insurance companies in Kenya (Doctoral dissertation, University of Nairobi).
Ampah, S. N., Ambrose, J. O., Omagwa, J. O. & Siaw, F. (2017). Effect of micro savings on poverty reduction in Central Region of Ghana. International Journal of Business and Management, 5(10), 109-228. Retrieved from https://ijbssnet.com/journals/Vol_8_No_8_August_2017/6.pdf
DOI: 10.1037/0022-3514.51.6.1173
Bashir, A., & Ondigo, H. (2018). Effect of Financial Products on Financial Performance of Small and Medium Enterprises in Nairobi County. Journal of International Business, Innovation and Strategic Management, 2(2), 1- 36. Retrieved from http://www.jibism.org/core_files/index.php/JIBISM/article/view/jibism
Bisignano, J. R. (1992). Corporate Control and Financial Information. In Richard O’Brien ed., Finance and International Economy, Vol.5. Oxford University Press, 07-121
DOI: 10.2139/ssrn.1347430
Carter, S. H. (2013). Financial Intermediation, Growth, and Microfinance in Turkey: A Quantitative Study.
Eyiah, D. K. (2015). Assessment of risk management practice of small and medium scale enterprises in the Sekondi-Takoradi Metropolis, Ghana (Doctoral dissertation, University of Cape Coast).
Ferede, Y. (2012). The impact of corporate governance mechanisms on firm’s financial performance: evidence from commercial banks in Ethiopia. International Journal of Global Economic Light, Vol.1
Field, A. (2013). Discovering statistics using IBM SPSS statistics. sage.
DOI: 10.5296/jebi.v5i1.12378
DOI: 10.5296/jebi.v4i1.10566
International Labour Organisation (2013). Entrepreneurship, skills development, finance. International Labour Organisation Publication.
DOI: 10.1177/001316447003000308
Ledgerwood, Joanna. 2013. The New Microfinance Handbook : A Financial Market System Perspective. Washington, DC: World Bank. © World Bank. https://openknowledge.worldbank.org/handle/10986/12272 License: CC BY 3.0 IGO.”
Mathur, S. (2012). Micro Insurance-A Powerful Tool to Empower Poor. Management Insight, 6(2).
DOI: 10.1787/9789264169425-en
DOI: 10.1108/17554171311308940
Otman, K. A. M. (2014). Corporate governance and firm performance in listed companies in the United Arab Emirates (Doctoral dissertation, Victoria University).
Razali, N. M., & Wah, Y. B. (2011). Power comparison of Shapiro-Wilk, Kolmogorov-Smirnoff, Lilliefors and Anderson-Darling Tests. Journal of Statistical Modelling and Analytics, 2(11), 21-33.
DOI: 10.5897/AJBM2014.7519
DOI: 10.5296/ijafr.v8i2.12928