Abstract: This study examined the effect of credit risk management practices on the financial performance of commercial banks listed on the Rwanda Stock Exchange (RSE), focusing on operational risk, default risk, and liquidity risk as determinants of Return on Assets (ROA). A correlational research design and census approach were employed, covering all four listed commercial banks: Bank of Kigali, I&M Bank Rwanda, Kenya Commercial BankRwanda, and Equity Bank Rwanda from 2015 to 2024, generating 40 firm-year panel observations. Quantitative data were obtained from audited financial statements and National Bank of Rwanda publications and analyzed using descriptive statistics and panel regression techniques. Descriptive results indicated that liquidity risk recorded the highest mean (M = 2.475, SD = 0.599), while default risk had the lowest (M = 1.925, SD = 0.572). Diagnostic tests confirmed data suitability, with no multicollinearity (VIF < 10). Regression findings showed that operational risk, default risk, and liquidity risk significantly influenced financial performance. However, default risk, reflected in non-performing loan ratios of 3.1%–4.18%, remained a major challenge affecting profitability and asset quality. The study concludes that effective credit risk management is essential for improving profitability, financial stability, and investor confidence. It recommends strengthening digital credit assessment, automated credit scoring, advanced analytics, borrower monitoring, and credit recovery systems. Regulators should enhance technology-driven risk management, improve credit information-sharing systems, and strengthen regulatory frameworks to promote a sustainable and competitive banking sector in Rwanda.

Abstract: This study examined the effect of risk management on the financial performance of Small and Medium Enterprises (SMEs) in Kabale Municipality, Uganda. Specifically, the influence of risk identification and risk assessment on financial performance, measured in terms of profitability, liquidity, and market share. A descriptive research design was adopted. The study targeted 244 registered SMEs, and a sample of 152 respondents was selected using Slovin’s formula, proportionate stratified sampling, and simple random sampling. Data were collected using structured questionnaires. Descriptive statistics,Pearson correlation, and multiple linear regression analyses were used to summarize the data and examine the relationship among the study variables. The findings showed that both risk identification and risk assessment had a positive and statistically significant effect on the financial performance of SMEs. Risk identification exhibited a stronger influence on financial performance (β=0.603, p < 0.001) than risk assessment (β=0.472, p < 0.001). The regression model explained 83.7% of the variation in financial performance (R2 = 0.837), indicating that effective risk management practices enhance SME profitability, liquidity and market share. Therefore, each Null hypothesis was rejected. The study concludes that strengthening risk identification and risk assessment practices significantly improves the financial performance of SMEs. It recommends that SME owners, managers, government agencies, and business development organizations provide continuous risk management training, technical support, and staff capacity building to enhance SMEs’ risk management capabilities, enterprise sustainability, and economic growth in Uganda.

Abstract: Principals’ integration of technology in financial management activities is vital in enhancing financial performance in schools. However, in Teso South Sub-county, this was not the case, as many public secondary schools had reported financial challenges. This study sought to determine the influence of principals’ integration of technology on financial performance in public secondary schools. The diffusion innovations theory and the financial performance theory guided the study. The study employed a mixed-methodology and thus adopted a concurrent triangulation research design. The target population comprised 12 principals, 174 teachers, 204 members of the Board of Management, and 1 County Financial Auditor, totaling 391 respondents, from which a sample of 197 respondents was determined using Yamane’s Formula. This consisted of a sample of 10 principals, 126 teachers, 60 BoM members and 1 County Financial Auditor. Questionnaires were used to collect data from teachers, and interviews were conducted with principals, members of the school Board of Management, and the County Financial Auditor. Qualitative data were analyzed thematically in line with the study objectives and presented in narrative form. Quantitative data were analyzed using descriptive statistics, including frequencies, percentages and means and inferential statistics using Pearson’s Product-Moment Correlation Analysis using Statistical Package for Social Sciences (SPSS Version 25) and presented using tables. The study found that financial performance has been a challenge due to a lack of accountability and inefficiency, partly because principals are unable to integrate technology into financial management. Thus, principals should fully implement digital financial management systems.

Abstract: The general objective of this study was to examine influence of corporate risk management practices on commercial bank financial performance in Rwanda. The study sought to achieve the following specific objectives: to evaluate the influence of Risk Identification, Risk Assessment and Measurement, Risk Monitoring and Control and Risk Mitigation Strategies on bank performance at Bank of Kigali. The data were analyzed using statistical methods, primarily through the calculation of frequencies and percentages, to identify patterns and effectively summarize the findings. For this study, the sample comprised 133 employees from Bank of Kigali. The study relied on secondary data for measurements and scaling, which were applied during the data analysis process. The researcher employed quantitative methods for this study, specifically utilizing a questionnaire to collect data. The collected data were systematically analyzed using the Statistical Package for the Social Sciences (SPSS) software. The ANOVA results assessed the overall significance of the regression model in explaining variability in bank performance. The resulting F-statistic of 91.136 tests whether the model fits significantly better than one without predictors. The p-value of .000, well below the 0.05 threshold, indicates the model is highly statistically significant. Overall, the findings confirm a statistically robust, cohesive risk management system that critically supports operational efficiency and financial stability, with Risk Identification and Risk Mitigation Strategies identified as the most impactful factors.

Abstract: This study examines the relationship between firm characteristics (firmographics), financial performance, and financial reporting quality. The analysis focused on firm size, industry classification, profitability, and liquidity as key determinants of reporting practices. The findings reveal that industry membership significantly influences financial reporting quality, suggesting that sector-specific factors and regulatory environments play a critical role in shaping reporting outcomes. In contrast, firm size was found to be insignificant, indicating that larger firms do not necessarily produce higher-quality financial reports compared to smaller firms. Additionally, the results show that liquidity has a significant positive impact on financial reporting quality, highlighting the importance of financial stability and resource availability in ensuring transparent and reliable reporting. These findings contribute to the ongoing discourse on the determinants of financial reporting quality by underscoring the relevance of industry dynamics and financial health over firm size and profitability.

Abstract: This study examined the effect of board structure on the financial performance of selected commercial banks in Rwanda. Guided by the Agency Theory, which emphasizes effective governance mechanisms in aligning management actions with shareholders’ interests, the study investigated how elements of board structure specifically board size influence financial performance indicators such as Return on Equity (ROE) and Return on Assets (ROA). A descriptive and correlational research design was adopted to ensure comprehensive analysis. A census approach was used to collect data from all thirteen commercial banks operating in Rwanda as of June 2024, from which five banks Bank of Kigali, I&M Bank, Cogebank, Ecobank, and Access Bank were selected using convenience sampling due to accessibility and representativeness. Data were obtained entirely from secondary sources, primarily annual financial statements and reports covering the period 2019–2023, sourced from official bank websites and the Rwanda Stock Exchange. Data analysis was conducted using SPSS version 27, employing descriptive statistics to summarize the data, Pearson correlation analysis to assess relationships, and multiple regression analysis to test hypotheses. Diagnostic tests for multicollinearity, heteroscedasticity, and normality were also conducted to ensure model reliability. The findings revealed a strong positive and statistically significant relationship between board size and financial performance (r = 0.877, p < 0.01), and regression results confirmed that board structure variables, particularly board size and independence, are significant predictors of financial performance. The study concludes that well-structured boards enhance decision-making, oversight, and accountability, thereby improving profitability and efficiency in commercial banks. It recommends that Rwandan commercial banks maintain balanced boards that incorporate diversity, expertise, and independence to strengthen governance frameworks and promote sustainable financial growth.

Abstract: This study explores the effect of credit management practices, with a particular focus on loan appraisal, on the financial performance of Umurenge SACCOs in Rulindo District, Rwanda. Grounded in an Asymmetric Information Theory, the research adopts a descriptive design and employs a mixed-methods approach, integrating both quantitative and qualitative techniques. A total of 143 respondents were selected using purposive sampling, and data were collected through structured questionnaires. Descriptive analysis revealed that respondents generally agreed on the importance of loan appraisal, with a mean score of 3.75 for the statement “Loan appraisal is a viable strategy for credit management” and 3.91 for the role of collateral in loan appraisal. However, there was some variability in perceptions regarding the competency of personnel and the thoroughness of loan assessments. Inferential statistics, including correlation and regression analysis using SPSS Version 25, were employed to examine the relationships between loan appraisal and financial performance. The findings showed a strong positive correlation (r = 0.776) between effective loan appraisal and the financial performance of SACCOs. Regression analysis confirmed that loan appraisal practices significantly impact the financial outcomes of Umurenge SACCOs, with a standardized beta coefficient of 0.206 (p-value = 0.005), emphasizing the importance of robust loan evaluation processes in improving financial sustainability. Based on these findings, the study recommends that Umurenge SACCOs adopt more rigorous and standardized loan appraisal procedures, enhance the capacity of credit officers through continuous training, and integrate digital tools for more accurate, efficient loan assessments.

Abstract: This research investigated the effect of internal control system on the financial performance of commercial banks in Rwanda, a case of Bank of Kigali Plc. The findings indicated that for the statement that stated that “Effective control environment over financial reporting to minimize errors and fraud at Bank of Kigali” the respondents agreed with a mean of 4.00 and standard deviation of .961 with the statement. This indicated that the respondents strongly agreed with the statement as indicated by the mean and heterogeneity of answers as indicated by the standard deviation where the respondents had different opinions of the statement and lead to the same answer. The other statement evaluated was “The internal control principles identify irregularities at Bank of Kigali” where the respondents agreed with a mean of 3.96 and standard deviation of .940. This indicated that the respondents agreed with the statement as indicated by the strong mean and heterogeneity of answers as indicated by the standard deviation where the respondents had different opinions of the statement and lead to the same answer. The internal control system plays a vital role in ensuring the financial stability and sustainability of commercial banks in Rwanda. The study conducted on the internal control system of commercial banks in Rwanda reveals that the majority of the banks have a well-established internal control framework, which is in line with the regulatory requirements and international best practices. Banks should conduct regular risk assessments to identify potential risks and implement measures to mitigate them.

Abstract: The study was about effect of non-performing loans on financial performance of selected commercial banks in Rwanda stock exchange within the period of 2019-2023. The level of financial performance every year was high and regression analysis revealed that Non-Performing Loans ratio has a positive coefficient of estimate which was significant (β= 0.319, p˂0.05). On the other side regression analysis shows that cash reserve ratio has a positive coefficient of estimate which was significant (β= 0.287, p˂0.05). This implies that a unit increase in Cash coverage ratio would lead to increase in performance of Equity Bank, BK, I&M Bank Rwanda Ltd and KCB Bank Rwanda Ltd by a factor of 0.287. Regression analysis shows that Non-Performing Loans coverage ratio has positive coefficient of estimate which was significant (β= 0.245, p˂0.05). Therefore, it is from these factors researchers concluded that there is a significant effect of Non-Performing Loans ratio on financial performance of listed commercial banks in RSE. It was also confirmed that cash reserve ratio has positive and significant relationship on financial performance of listed commercial banks in RSE. Researcher also concluded that there is a positive and significant relationship between Non-Performing Loans coverage ratio and financial performance of listed commercial banks in RSE.

Abstract: This study examines the influence of corporate governance practices, particularly board size, on the financial performance of companies listed on the Rwanda Stock Exchange (RSE), focusing on the relationship between board size and key financial indicators such as Return on Assets (ROA) and Return on Equity (ROE). Grounded in governance and financial performance theories, the research employed a descriptive research design with a quantitative approach. A longitudinal analysis was conducted, covering data from 7 companies over a 6-year period (2018-2023). Data were collected from secondary sources, including publicly available financial reports and statements, and analyzed using both descriptive and inferential statistical methods. Correlational analysis revealed a strong positive relationship between board size and financial performance, with a Pearson correlation coefficient of 0.867, indicating that larger boards tend to have a positive impact on financial outcomes. The model summary indicated a strong fit for the data, with an R-squared value of 0.856, meaning that 85.6% of the variation in financial performance could be explained by the model, highlighting the importance of governance structures. Based on these findings, the study concludes that while board size plays a significant role in corporate governance, its impact on financial performance is contingent on effective decision-making and governance practices. The study recommends that companies focus on optimizing board composition, ensuring efficient decision-making processes, and enhancing board members’ governance capabilities to improve overall financial performance.