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Within the Department of Accounting, Faculty of Commerce at Makerere University Business School (MUBS), intellectual and academic outputs are collected, preserved, and disseminated through the Department of Accounting Institutional Repository sub-community. In accordance with MUBS's Institutional Repository Policy, this sub-community promotes open access to research, instructional materials, theses, dissertations, policy briefs, and other scholarly outputs. It promotes national and international information exchange while improving the visibility, discoverability, and long-term preservation of accounting-related knowledge. The repository ensures that academic work from the Department of Accounting is accessible, reusable, and internationally discoverable by adhering to worldwide open science standards, including the FAIR principles and UNESCO Open Science recommendations.

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Access to Finance, Business Envronment, Entrepreneur Expertise and SME Business Success.
(2023) Buyinza, Benon
The purpose of the study was to assess the relationship between access to financial capital, business environment, entrepreneur expertise and SME business success. The study was guided by three objectives name to establish the relationship between access to finance and SME business success. A cross sectional design was employed in this study to examine the relationship between financial capital, business regulation, entrepreneur expertise and SME business success. The population for this study comprised of 476 owners of registered businesses in Kampala Central Business District under Kampala Capital City Traders Association by December 2020 (KCCA, 2021). The sample was 210 entrepreneurs who were selected based on Krejcie and Morgan (1970) from the total population. Sekaran (2003) recommends that for research activities, the sample size of respondents should be determined using Krejcie and Morgan (1970) tables. Simple random sampling method was used to establish the respondents. According to Katebire (2007), it minimizes bias and every member stands chance of being selected. The findings showed a positive and significant relationship access to finance and SME business success. The findings mean that when there is an improvement in access to finance, this will improve business success. From the findings, it can be noted that business environment has a positive and significant relationship with the SME business success. This means that any positive change business associated with a positive change in SME business success. From the findings, it was indicated that there is a positive and significant relationship between entrepreneur expertise and SME business success. This implies that any positive change in entrepreneur expertise will result in a positive change in SME business success. The results revealed that access to finance, business environment, and entrepreneurial expertise combined have a variation in SME business success. Though there are other factors that were not considered in the study that can explain variance in SME business success. In conclusion, the success of small and medium-sized enterprises (SMEs) is influenced by several factors, including access to finance, the business environment, and the expertise of entrepreneurs. Access to financing allows SMEs to invest in their businesses and take advantage of new opportunities, while a favorable business environment provides SMEs with the resources and support they need to grow and succeed. Entrepreneurs with expertise can provide a competitive.
Adoption of Financial Service Tools, Digital Infrstatructure Growth and Financial Inclusion Among Adult Women in Uganda; A Case of Lira District.
(Makerere University Business School, 2025-10-28) Namanya Millen
The study aimed to examine the relationship between the adoption of financial service tools and financial inclusion among adult women in Lira District, Uganda. Specifically, the objectives were to assess the levels of adoption of financial tools, digital infrastructure growth, and financial inclusion among adult women, investigate the relationship between financial service tool adoption and financial inclusion, explore the relationship between financial tool adoption and digital infrastructure growth, and determine the mediating effect of digital infrastructure growth on the relationship between financial service tools and financial inclusion. A cross-sectional survey design with a quantitative approach was employed. The study managed to collect data from 399 adult women aged 20 years and above, selected through stratified sampling. Data was collected using structured questionnaires and analyzed using SPSS version 20. Factor analysis and inferential statistics, including Pearson correlation, were used to evaluate the relationships between variables. The findings indicate a high overall level of financial service tool adoption (mean = 3.95, SD = 0.585) among adult women, though perceived access to loans/credit was only moderate (mean = 2.89) and user experience variability was noted (SD = 1.137 for app simplicity). Digital infrastructure growth in Lira District was also high overall (mean = 4.07, SD = 1.377), but significant variability in internet reliability (SD = 1.464) and electricity supply (SD = 1.394) was observed. Financial inclusion among adult women was found to be at a moderate overall level (mean = 3.21, SD = 0.877), with moderate formal bank account ownership (mean = 3.22, SD = 1.224) and low understanding of saving/investment benefits (mean = 2.81, SD = 1.324). A significant and moderately strong positive relationship was found between financial service tool adoption and financial inclusion (R=0.610, Sig. =0.000). A statistically significant, albeit modest, positive relationship also existed between financial tool adoption and digital infrastructure growth (R=0.421, Sig. = 0.000). Furthermore, digital infrastructure growth partially mediated the relationship between financial service tools and financial inclusion, accounting for 24.1% of the total effect (indirect effect = 0.147, p<0.001), while a strong direct effect persisted (direct effect = 0.463). The study concluded that while financial service tools are highly adopted and significantly contribute to financial inclusion, and also modestly stimulate digital infrastructure growth, substantial unexplained variance highlights the complex interplay of other factors. Financial inclusion remains moderate, particularly concerning formal banking and financial literacy. Therefore, the study recommends a dual-pronged strategy for policymakers and development organizations: continuous investment in robust and equitable digital infrastructure, coupled with the design and promotion of financial tools and complementary programs that are effective even in sub-optimal infrastructure environments, addressing non-infrastructure barriers like socio cultural norms and digital literacy gaps.
Auditor-Client Relationship, Professional Skepticism and Audit Quality Among Medium Enterprises in Kampala.
(Makerere University Business School, 2025-01-08) Mahoro Nicole
Audit quality is critical in ensuring the reliability, integrity, and transparency of financial reporting, particularly for medium-sized enterprises (MEs) that are increasingly vulnerable to audit deficiencies. In Kampala, Uganda, concerns persist over compromised auditor independence, misleading financial disclosures, and weakened stakeholder trust. This study explores the influence of the auditor-client relationship and professional skepticism on audit quality. Anchored in agency theory, the study used a cross-sectional design and a quantitative approach, with primary data obtained from 298 medium enterprises through structured questionnaires. Stratified and simple random sampling was used to ensure representation across key enterprise categories. The data were interpreted using correlation analysis and multiple regression. This study established that professional skepticism itself demonstrated a strong positive association with audit quality, while the auditor–client relationship showed no significant direct correlation with audit quality. Regression analysis asserted that professional skepticism was a better predictor of audit quality than the auditor-client relationship, and together they account for 33.7% of the variation in audit quality. The study recommends that Kampala audit firms build trust centered relationships with medium enterprise clients through transparent communication and ethical practices while guarding against excessive closeness by rotating partners and reinforcing independence; simultaneously, they should institutionalize professional skepticism via ongoing training, real world case simulations, and by embedding skepticism metrics in performance reviews so that critical inquiry becomes intrinsic to every audit; moreover, firms ought to leverage strong client rapport to fuel, rather than dull, skeptical judgment by guiding auditors on balancing rapport with rigorous challenge; finally, recognizing that skepticism overwhelmingly drives quality and that other factors remain unexplained, firms should adopt a holistic quality enhancement strategy that further explores auditor experience, firm methodologies, technology use, and regulatory oversight.
Board Effectiveness, Managerial Competences and Accountability in State Owned Enterprises in Uganda.
(Makerere University Business School, 2025-09-04) Abuko Susan
State-owned Enterprises (SOEs) in Uganda are confronted with accountability challenges characterized by a lack of transparency, non-compliance with policies and regulatory frameworks, and incomplete or inaccurate disclosure. This study examined the relationships among Board Effectiveness, Managerial Competences and Accountability in SOEs in Uganda. Guided by four primary objectives, the research explored the association between board effectiveness and accountability; assessed the link between board effectiveness and managerial competences; investigated the association between managerial competences and accountability and lastly the research analyzed the mediating role of managerial competences in the link between board effectiveness and accountability within Ugandan SOEs. Employing a cross-sectional design with a quantitative approach, data were collected with a designed questionnaire administered to 32 SOEs in Uganda, selected from a population of 35 sampling framework using simple random sampling to choose respondents. Data analysis involved correlation, regression, and mediation techniques using SPSS and MedGraph to test the associations among key variables. The results disclosed a positive and statistically significant connection between board effectiveness and accountability in SOEs (r =.976). A positive, significant association was also found between board effectiveness and managerial competences (r =.454), managerial competences and accountability (r =.532). Regression results indicated that board effectiveness and managerial competences jointly explained 96.1% of the variance in accountability among SOEs (Adjusted R² = .961), with the remaining 3.9% attributed to unexamined factors. Both board effectiveness (β = .926, t = 23.172) and managerial competences (β = .111, t = 2.775) emerged as significant predictors of accountability. Mediation analysis further demonstrated that managerial competences partially mediate the relationship between board effectiveness and accountability (Sobel z = 1.977). This study recommends that Ugandan SOEs enhance accountability by prioritizing the development of managerial competences through targeted training and development programs aimed at improving behavioral outcomes, such as disclosure, transparency, and compliance. Regular evaluation of board competencies, combined with a structured and transparent selection process, is essential to ensure balanced and effective board composition. Support from the government and other stakeholders, including tailored training programs, can further strengthen board capabilities. SOEs should also provide boards with clear role definitions, ethical guidelines, and performance standards. This approach fosters a culture of responsible governance, reinforced by the establishment of consequences for varying levels of accountability, both positive and negative. Finally, the adoption of diverse board expertise ensures alignment between governance practices and SOE objectives, promoting sustainable organizational performance and accountability.
Business Risk Management, Capital Structure and Financial Performance of Small and Medium Enterprises (SME’S) under Uganda women Entrepreneurs’ Association Limited (UWEAL)
(Makerere University Business School, 2018-10) Nambajjwe, Priscilla
The study was prompted by the escalating poor financial performance of small and medium enterprises (SMEs) in Uganda as reported by the findings of the Private Sector Foundation of Uganda. SMEs which were registered by Uganda Women Entrepreneurs Association Limited formed the units of inquiry because they were registered and totaled to 157 in number. The study used a cross sectional design which involved both analytical and descriptive analysis, with samples selected using simple random sampling. The research questionnaires were analyzed using the statistical package for social scientists and relationships established using regression models as well as descriptions of the factors affecting the variables using factor analysis. The findings of the study showed a significant and positive relationship between business risk management and financial performance as well as a positive relationship between capital structure and financial performance of SMEs. The overall Adjusted R Square was 19.5% implying that the department variable was explained by the independent variables up to 19.5% and 80.5% of the changes in the dependent variable could be explained by exogenous factors outside the model. The study recommended the need for a proactive business risk management and optimum leverage of the capital structure for investment decisions made by SMEs as well as periodic monitoring and measurement of financial performance at given intervals.
Corporate Governance Practices, Ethical Environment and Fraud Mangement among Bank of Uganda Supervised Financial Institutions.
(2023) Ssebuggwawo, Moses John
This study examined the relationship between corporate governance practices, ethical environment and fraud management among Bank of Uganda (“BOU”) supervised financial institutions. The study was a cross-sectional research design with a quantitative research approach. A sample of 181 BOU supervised financial institutions was used. Primary data was obtained from Chief Executive Officers, Internal Audit Officers and Accountants using a structured questionnaire instrument. SPSS v. 25 was used to analyze data, and results were presented and interpreted using frequency tables, correlations and regression analyses. This study found a positive association between corporate governance practices and fraud management (r=.588, p<.01). In addition, the study found a positive relationship between ethical environment and fraud management among BOU supervised financial institutions (r=.581, p<.01). Corporate governance practices and ethical environment contributed 45.1% of variances in fraud management. Although both variables were significant, corporate governance practices was a better predictor. Ethical environment is a partial mediator facilitating 35.9% in the relationship between corporate governance practices and fraud management and the study concludes that financial institutions require corporate governance practices and ethical environment to manage and control fraud. The study recommends: continuous improvement of corporate governance; promoting ethical environment; increased supervision by BOU; inaction of stringent penalties and punishments by BOU. This study suggests future research on corporate governance, ethical environment and fraud management among financial institutions in Uganda including; “A Board and Executive Officers’ perspective”; and “Corporate governance, ethical environment and fraud management among financial institutions in Uganda - A comparative analysis”.
Credit Information Asymmetry, Financial Literacy and Access to Finance Among Entrepreneurs in Bakaro Market, Mogadishu, Somalia.
(Makerere University Business School, 2025-07-21) Abdishakur Mohamed Ali
This study investigates the complex interplay between credit information asymmetry, financial literacy, and access to finance among entrepreneurs in Bakaro Market, Mogadishu, Somalia. The primary objectives were to evaluate the relationship between credit information asymmetry and access to finance, assess the impact of financial literacy on entrepreneurs’ access to financial resources, and examine how financial literacy mediates the relationship between credit information asymmetry and access to finance. Drawing on Galbraith’s Organizational Information Processing (OIP) theory, the study emphasizes the essential role of information in enabling entrepreneurs to make informed financial decisions. Using a cross-sectional research design, data was quantitatively collected from 167 respondents selected through random sampling, ensuring a representative sample of the entrepreneurial community in the market. The analysis revealed several significant findings. A strong positive correlation was identified between credit information asymmetry and access to finance, with a correlation coefficient of 0.603, suggesting that as entrepreneurs have better access to accurate and timely credit information, their chances of securing financing increase. Additionally, financial literacy was found to significantly enhance access to finance, with a correlation coefficient of 0.502, indicating that entrepreneurs with higher levels of financial knowledge are better equipped to navigate complex financial systems and engage with financial institutions effectively. Moreover, financial literacy was shown to mediate the relationship between credit information asymmetry and access to finance, illustrating that entrepreneurs with strong financial skills can leverage available credit information to secure funding more effectively. These findings highlight the critical need for initiatives aimed at improving credit information systems and fostering financial literacy among entrepreneurs. Specifically, the study recommends that financial institutions and policymakers work collaboratively to enhance credit information sharing mechanisms, such as establishing or strengthening credit bureaus to provide comprehensive credit histories that facilitate better risk assessment by lenders. Furthermore, targeted financial literacy programs should be developed to educate entrepreneurs on essential financial concepts, budgeting, and effective management of financial resources. By equipping entrepreneurs with the necessary knowledge and tools, these programs can significantly improve their ability to access financing, ultimately fostering entrepreneurship and contributing to sustainable economic growth in Somalia. The study’s insights underscore the importance of addressing both credit information asymmetry and financial literacy as integral components in promoting financial inclusion and supporting the entrepreneurial ecosystem in the region.
Customer Attitude, Perceived Risk, Perceived Trust and User Adoption of Mobile Banking in Kampala Central Division.
(Makerere University Business School, 2023-12-11) Waako Sharon
The study was carried out to examine the relationship between perceived risk, customer attitude, perceived trust and user adoption of mobile banking in Kampala central division. The study objectives were; to establish the relationship between perceived risk and user adoption of mobile banking in Kampala Central Division, to establish the relationship between customer attitude and user adoption of mobile banking in Kampala Central Division, to establish the relationship between perceived trust and user adoption of mobile banking in Kampala Central Division and to establish the mediating effect of perceived trust in the relationship between perceived risk and user adoption of mobile banking in Kampala Central Division. Data was collected using a self-administered questionnaire from 297 people with bank accounts. The Statistical Package for Social Scientists was used in analyzing the data. Correlation and regression analysis was also used. The study found out that perceived risk, customer attitude and perceived trust have a significant influence on the user adoption of mobile banking in Kampala central division. It also found out that there is a positive and significant relationship between customer attitude and user adoption of mobile banking and between perceived trust and user adoption of mobile banking whereas the relationship between perceived risk and user adoption of mobile banking was found to be negative and significant in the adoption of mobile banking in Kampala central division. Using the Sobel test, the study found out that there is a mediating effect between perceived trust, perceived risk and user adoption of mobile banking. Using regression analysis, the study found out that perceived risk, customer attitude and perceived trust explain 59.4% of the variance in user adoption of mobile banking. It was concluded that for banks to promote user adoption of mobile banking, demos on mobile banking usage on their websites to increase awareness about mobile banking, should give information on the security measures to make transactions secured and protected and should avail professionals to always help mobile banking users and give timely responses to facilitate adoption of mobile banking.
Customer Attitude, Perceived Risk, Perceived Trust and User Adoption of Mobile Banking in Kampala Central Division.
(2023) Waako, Sharon
The study was carried out to examine the relationship between perceived risk, customer attitude, perceived trust and user adoption of mobile banking in Kampala central division. The study objectives were; to establish the relationship between perceived risk and user adoption of mobile banking in Kampala Central Division, to establish the relationship between customer attitude and user adoption of mobile banking in Kampala Central Division, to establish the relationship between perceived trust and user adoption of mobile banking in Kampala Central Division and to establish the mediating effect of perceived trust in the relationship between perceived risk and user adoption of mobile banking in Kampala Central Division. Data was collected using a self-administered questionnaire from 297 people with bank accounts. The Statistical Package for Social Scientists was used in analyzing the data. Correlation and regression analysis was also used. The study found out that perceived risk, customer attitude and perceived trust have a significant influence on the user adoption of mobile banking in Kampala central division. It also found out that there is a positive and significant relationship between customer attitude and user adoption of mobile banking and between perceived trust and user adoption of mobile banking whereas the relationship between perceived risk and user adoption of mobile banking was found to be negative and significant in the adoption of mobile banking in Kampala central division. Using the Sobel test, the study found out that there is a mediating effect between perceived trust, perceived risk and user adoption of mobile banking. Using regression analysis, the study found out that perceived risk, customer attitude and perceived trust explain 59.4% of the variance in user adoption of mobile banking. It was concluded that for banks to promote user adoption of mobile banking, demos on mobile banking usage on their websites to increase awareness about mobile banking, should give information on the security measures to make transactions secured and protected and should avail professionals to always help mobile banking users and give timely responses to facilitate adoption of mobile banking.
Customer Expectation, Mortgage Terms, and Mortgage Uptake: A Case of Housing Finance Bank.
(Makerere University Business School, 2021-10-13) Namengo Stella
This study was started to establish how customer expectations and mortgage terms affect mortgage uptake in Uganda and specifically Housing Finance Bank. Despite the huge demand for homes, only few Ugandans have applied for mortgage financing to enable them acquire property. By the end of December 2010, the total mortgage portfolio was estimated at UGX 1.65 trillion (4.8 percent of GDP), compared to UGX 771 billion in 2009 (3.3 percent of GDP) and UGX 32.4 billion in 2002 (0.3 percent of GDP). Despite the relative development in the mortgage industry in Uganda, mortgage uptake remains very low with only 1% of the population using mortgage finance in acquiring property. The researcher was therefore desirous to establish how customer expectations and mortgage terms influenced mortgage uptake. This study made use of a cross-sectional survey design which involved the collection and analysis of data. Data was systematically collected from several bank customers who highlighted their experiences when obtaining mortgages, analysis of their responses was done and several recommendations were made. The analysis revealed that customer expectations and mortgage terms play a very significant role in influencing mortgage uptake. The researcher made several recommendations on how the bank can be able to meet and exceed customer expectations and therefore boost mortgage uptake
Debt Financing, Cash Flow Management and Financial Performance of SMES in Mogadishu, Somalia. A Case of Registered SMES in Bakara Market Mogadishu, Somalia.
(Makerere University Business School, 2025-11-04) Sowda Mohamud Adan
The study investigated the relationship between debt financing, cash flow management, and the financial performance of Small and Medium Enterprises (SMEs) in Mogadishu, Somalia, with a focus on registered SMEs in Bakara Market. The research was guided by the Baumol model and the free cash flow concept, focusing on three key objectives: to examine the effects of debt financing on the financial performance of SMEs, to assess the influence of cashflow management on financial performance, and to determine the extent to which debt financing and cashflow management explain the variance in financial performance among SMEs in Mogadishu. A quantitative cross-sectional survey design was adopted, using Morgan and Krejcie(1970) sample size determination table to select 140 respondents. Data were collected through questionnaires and analyzed using correlation and regression techniques to evaluate the associations between the variables and their combined predictive power. The findings revealed a strong positive relationship between the independent variables and SME financial performance, as indicated by an R value of 0.655. The model’s R² of 0.429 suggests that 42.9% of the variation in financial performance can be explained by the combined effect of debt financing and cashflow management, with an adjusted R² of 0.417 confirming a good model fit. Debt financing emerged as the most influential predictor (B = 0.812, β = 0.583, t = 7.519, p < 0.001), indicating that access to and effective utilization of external finance particularly trade credit and long-term loans significantly enhance SME growth and profitability. Cashflow management also had a significant but weaker effect (B = 0.245, β = 0.220, t = 2.663, p = 0.009), suggesting that effective management of operating, investing, and financing activities supports liquidity and operational efficiency. The study concluded that other factors beyond debt financing and cash flow management might play a more substantial role in influencing the financial performance of SMEs in Mogadishu. It recommended adopting a more comprehensive financial management approach to better support SME growth and financial sustainability in this context. The study concludes that both debt financing and cashflow management are critical drivers of SME financial performance, with debt financing exerting the stronger influence. It recommends that SME owners strengthen financial management practices, improve debt utilization efficiency, and adopt robust cashflow planning systems to enhance financial sustainability. Policymakers and financial institutions should create favorable credit policies and provide financial literacy programs to help SMEs optimize the benefits of debt financing while maintaining sound cashflow control.
Digital Financial Services Adoption, Plausibility and Financial Inclusion Among the Rural Households of Kilembe Sub County in Kasese District.
(Makerere University Business School, 2025-11-27) Zawad Kezia
Enhancing financial inclusion is a key driver for achieving SDGs through poverty minimization, gender and social equality, and employment creation. Nonetheless, many households remain financially excluded. This research investigated the linkage between digital financial services adoption, plausibility and financial inclusion in the rural households of Kasese District. This research was a cross-sectional and adopted a quantitative research approach. It used a sample of 344 households in Kilembe Subcounty in Kasese district and obtained data from household heads, preferably women. This study used a questionnaire to collect data, analyzed using SPSS v. 25. The study found out that there is a positive association between digital financial services adoption and financial inclusion. Furthermore, there was a positive association between plausibility and financial inclusion. The study noted that there is a positive association between digital financial services adoption and plausibility. The study also obtained that both digital financial services adoption and plausibility significantly predicted financial inclusion. It also noted that financial inclusion is more driven by plausibility compared to digital financial services adoption. In conclusion, the study emphasizes that digital financial services adoption and plausibility are exceptionally important in uplifting financial inclusion. The research recommends; financial literacy sensitization; conducting digital financial services adoption promotion campaigns; increased investment in information technology; and continuous digital financial services innovation.
E-Learning Adaptability, Learning Environment and Students’ Learning Productivity in Selected Universities.
(Makerere University Business School, 2023-12-06) Kuteesa Christine
The purpose of this research is to investigate the influence of e-learning adaptability and learning environment to students’ learning productivity in universities. The research problem was that in Uganda the productivity of students has reduced more especially in the Covid 19 pandemic period. This is more evident with the students of Master of Science in Accounting and Finance. Hence the research objectives were: to examine the influence of E-learning adaptability on students’ learning productivity, to examine the influence of learning environment on students’ learning productivity and to examine the mediating effect of learning environment in the relationship between E-learning adaptability and students’ learning productivity. The researcher used a cross-sectional quantitative survey design. The total population was 109 students from which a sample of 85 students was used. They were selected by simple random sampling. A questionnaire was used to collect data. The correlation results indicate that e learning and students’ learning productivity are significantly correlated (r = .827*, p<.01), learning environment and students’ learning productivity are significantly correlated (r = .863*, p<.01). The results also show that the independent variables can predict 78.2 percent of the variance in student’s learning productivity (Adjusted R Square = .782). More to that, learning environment significantly though partially mediates in the relationship between E-learning adaptability and students’ learning productivity. On that basis it was recommended that educational institutions and stakeholders should prioritize creating adaptive and supportive learning environments, investing in technological infrastructure, and psychological well-being, continuously evaluating and improving E-learning platforms, providing comprehensive training and support for e-learning tools, and offering diverse learning materials and tools to cater to the various needs and preferences of students, thereby enhancing overall learning productivity.
EFRIS Literacy, EFRIS Usability, User Training and Vat Tax Compliance Among SMEs in Kampala Central Business District, Uganda.
(Makerere University Business School, 2025-11-21) Kauma Violet
The purpose of the study was to examine the relationship between EFRIS literacy, EFRIS Usability, user training and tax compliance among SMEs operating in Kampala CBD. The objectives of the study were; to examine the relationship between EFRIS Literacy and tax compliance among SMEs in Kampala CBD, to establish the relationship between EFRIS Usability of EFRIS and tax compliance among SMEs in Kampala CBD and to establish the relationship between EFRIS user training and tax compliance among SMEs in Kampala CBD. The study adopted a cross-sectional research design and a quantitative approach. The target population was 80,000 SMEs in Kampala CBD and a sample size of 382 SMEs. Data was collected using a questionnaire from 301 SMEs which successfully completed questionnaires. Data was analyzed using SPSS version 26. Descriptive statistics were used to establish demographic characteristics of respondents and firms while correlation and regression were used to establish the relationships and predictability of variables. The findings revealed that while EFRIS literacy positively affects compliance, its impact was not statistically significant on its own. In contrast, both user friendliness and user training significantly enhanced tax compliance, with training emerging as the strongest predictor. These results suggest that SMEs are more likely to comply when the system is easy to navigate and when they receive practical, hands-on training to use EFRIS effectively. Accordingly, the study concludes that enhancing system usability and expanding comprehensive training programs are critical strategies for improving SME tax compliance in Kampala CBD. Based on these insights, it is recommended that government authorities implement targeted literacy initiatives, simplify the EFRIS interface, and provide continuous, accessible training for SMEs
Environmental Management Practices, Intellectual Capital, and Sustainability Performance of Manufacturing Firms in Uganda.
(2023) Ainomugisha, Ritah
The purpose of this study was to investigate the relationship between environmental management practices, intellectual capital, and the sustainability performance of manufacturing firms in Uganda. The study adopted a cross-sectional research design combined with a descriptive and correlational research approach. The study population was 606 manufacturing firms, from which a sample of 234 firms was selected. Complete and usable questionnaires were solicited from 161 respondents, indicating a 70% response rate. The data were analysed using factor analysis, correlation, and regression. The study findings show that environmental management practices and intellectual capital are significant predictors of sustainability performance, predicting 58.5% of the variance in sustainability performance. Sustainability performance can improve if manufacturing firms prioritize investment in the development and enhancement of their intellectual capital, most especially human capital, and adopt sustainable and eco-friendly practices through the integration of environmental considerations into product and service development processes. This study contributes to the literature by providing empirical evidence of the link between environmental management practices, intellectual capital, and the sustainability performance of manufacturing firms in a developing country context. Owing to the study’s focus on manufacturing firms in Uganda, results may not be able to represent the perceptions of accountants of all companies in Uganda or other countries and further research is recommended to explore the perceptions of accountants in different industry sectors or countries to obtain a more comprehensive understanding of the relationship between environmental management practices, intellectual capital, and sustainability performance.
Financial Inclusion, Budgeting and Women Empowerment Among Saving Groups in Kampala Markets.
(Makerere University Business School, 2025-12-13) Catherine Kayendeke
This study examined the relationship between financial inclusion, budgeting practices and women empowerment in saving groups in Kampala. The respondents were market women operating in Kalerwe, Kawempe, Busega and Kabuye markets. The study adopted a cross sectional research design where data was collected at a specific point in time without repeat. A quantitative approach employing questionnaires to collect data was adopted. 331 questionnaires were dispatched and a response of 90.6% was realized. Given the nature of the research objectives, correlation analysis was performed to test associations between the different variables while the regression analysis to predict the outcomes and identify importance variables. Data was analyzed using STATA software. Findings reveal that employed women are less likely to have attended formal financial training with 100% of employed respondents indicating a lack of budget training compared to the 12% of the self-employed respondents. Self-employed women demonstrated higher confidence in using financial services (57%) compared to their employed counterparts (100%) who reported limited access and challenges with financial service usage. Additionally, cultural norms and gender roles significantly impact financial independence with 75% of employed women reporting constraints due to societal expectations. The study further highlights that despite challenges, a significant portion of both employed (50%) and self-employed women (61%) believe financial education can empower them. Moreover, both groups recognize the positive impact of women owned businesses on the local economy, with 75% of employed and 95% of self-employed women agreeing or strongly agreeing. This study underscores the need for targeted financial literacy programs and supportive networks to enhance women’s financial decision making, business growth and independence contributing to broader economic empowerment and development.
Financial Literacy, Saving Culture, Adoption of Mobile Money Services and Financial Inclusion of Adults in Kiira Municipality, Wakiso District.
(Makerere University Business School, 2021-12-09) Lubwama Ivan
The purpose of this study was to investigate the relationship between financial literacy, saving culture, adoption of mobile money services and financial inclusion among adults in Kira Municipality in Wakiso district. A cross sectional research design was used using a sample of 271 adults. Primary data were collected using the self-administered questionnaire. Data were analyzed using SPSS and factor analysis, correlation, and regression analysis were carried out. Correlation results revealed that there was a significant positive relationship between financial literacy, saving culture and adoption of mobile money services and financial inclusion. Furthermore, the results revealed a positive and significant relationship between financial literacy and adoption of mobile money services. In addition, the results revealed that adoption of mobile money services partially mediated the relationship between financial literacy and financial inclusion. Furthermore, regression results indicated that financial literacy was a better predictor than saving culture and adoption of mobile money services and combined prediction was 43.8% of financial inclusion among adults. The study advocates for more financial trainings in skills, knowledge, behaviour and attitudes among adults to improve their access, usage, quality and welfare. The study recommends for more improvement in financial skills and knowledge among adults to increase their usage of mobile money services so as to achieve higher financial inclusion. Adults need to embrace mobile money services usage to increase their financial welfare, access, usage and quality
Financial Management Practices and Financial Performance of Medium Enterprises in Somalia; A Case of Mogadishu City.
(Makerere University Business School, 2024-10-10) Abdikadir Ibrahim Abdi
The study assessed the influence of financial management practices on the financial performance of medium enterprises in Mogadishu city in Somalia. The specific objectives were as follows: To inspect the relationship between CBD and FP of MEs in Mogadishu City in Somalia, to examine the association between WCM and FP of MEs in Mogadishu City in Somalia, to find the affiliation between financing decisions and FP of Medium Enterprises in Mogadishu City in Somalia and to establish the relationship between profit-sharing decisions and FP of MEs in Mogadishu city in Somalia. The study sample comprised 313 medium enterprise owners of the different categories of medium enterprises in Mogadishu, Somalia. A questionnaire was used to gather data. The findings show that medium enterprises exhibit a nuanced understanding of capital budgeting, emphasizing factors such as project lifespan, long-term financing, and risk assessment to align investment decisions with long-term profitability objectives. Effective WCM emerges as a crucial determinant of financial performance, with efficient management of accounts receivable, inventory, and payables positively impacting overall financial health. Regarding financing decisions, medium enterprises achieve equilibrium by leveraging sales revenue, optimizing tax efficiency, and adopting conservative financial management practices. Notably, there is a preference for internal revenue for expansion, reflecting a strategic approach to minimize debt burden and maintain financial flexibility. Furthermore, the integration of profit-sharing arrangements underscores the significance of employee engagement in driving business success. Enterprises prioritizing profit-sharing tend to experience better financial outcomes, highlighting the importance of aligning employee incentives with organizational goals. The study emphasizes the crucial part of effective financial decision-making in achieving sustainable growth, enhancing operational efficiency, and maximizing shareholder value with medium enterprises.
Financial management practices, competitive advantage and loan performance of MFIS in Uganda
(Makerere University Business School Institutional Repository, 2014-09-01) Brendah, Akankunda
The study examined the relationship between financial management practices, competitive advantage and loan performance of MFIS in Kampala region. The study aimed at investigating the cause of a sharp rise in loan defaults in loan performance. A conceptual frame work was developed relating financial management practices (Risk management, Working capital management and Budgeting) The motivation of this study was the fact that the Bank of Uganda and other stakeholders had directed their effort towards improving the performance of MFIS. Despite this, Bank of Uganda had highlighted declining loan performance of MFIS in Uganda. The research adopted a blend of cross sectional and descriptive research design and simple random sampling was used for the study. The population included 84 MFIS from which a sample of 70 was obtained. A simple random sampling technique was used. Primary data was obtained from 61 MFIS, providing a response rate of 87%. The data were collected using a self-administered questionnaire with perceptions and beliefs sought to a five point Likert scale. The data obtained were analysed using factor, correlation, regression and Normality tests. From the analyses, it was established that, financial management practices, competitive advantage have significant and positive effect on loan performance of MFIS with a total contribution of 43%. In reference to the findings of the Study, the researcher concluded that a significant positive relationship existed between financial management practices, competitive advantage and loan performance of MFIS in Kampala region. As such recommendations were made in line with improving and enhancing the financial management practices and competition of these MFIS such as risk management and working capital gaps assessment in order to achieve a competitive advantage for MFIS products for future loan performance. MFIS strategies to minimize losses require effective Bank management practices that may reduce poor loan performance.
Financial Management Practices, Competitive advantage and loan performance of MFIS in Uganda
(Makerere University Business School, 2014-09-15) Akankunda, Brendah
The study examined the relationship between financial management practices, competitive advantage and loan performance of MFIS in Kampala region. The study aimed at investigating the cause of a sharp rise in loan defaults in loan performance. A conceptual frame work was developed relating financial management practices (Risk management, Working capital management and Budgeting) The motivation of this study was the fact that the Bank of Uganda and other stakeholders had directed their effort towards improving the performance of MFIS. Despite this, Bank of Uganda had highlighted declining loan performance of MFIS in Uganda. The research adopted a blend of cross sectional and descriptive research design and simple random sampling was used for the study. The population included 84 MFIS from which a sample of 70 was obtained. A simple random sampling technique was used. Primary data was obtained from 61 MFIS, providing a response rate of 87%. The data were collected using a self-administered questionnaire with perceptions and beliefs sought to a five point Likert scale. The data obtained were analysed using factor, correlation, regression and Normality tests. From the analyses, it was established that, financial management practices, competitive advantage have significant and positive effect on loan performance of MFIS with a total contribution of 43%. In reference to the findings of the Study, the researcher concluded that a significant positive relationship existed between financial management practices, competitive advantage and loan performance of MFIS in Kampala region. As such recommendations were made in line with improving and enhancing the financial management practices and competition of these MFIS such as risk management and working capital gaps assessment in order to achieve a competitive advantage for MFIS products for future loan performance. MFIS strategies to minimize losses require effective Bank management practices that may reduce poor loan performance.

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