TY - JOUR ID - 111634 TI - Assessing the impact of operational flaws on the performance of microfinance institutions in Ghana: a case study of selected microfinance institutions JO - Journal of Applied Research on Industrial Engineering JA - JARIE LA - en SN - 2538-5100 AU - Agyeman, Annette Serwaa AU - Gyimah, Adjei Gyamfi AU - Adu-Asare, Solomon AD - School of Finance, Zhongnan University of Economics and Law, Wuhan, China. AD - Supply Chain and Business Linkage Department, Competitive Cashew Initiative, German Development Cooperation. AD - Frontline Capital Advisors, Ghana. Y1 - 2020 PY - 2020 VL - 7 IS - 2 SP - 137 EP - 153 KW - operational KW - Flaws KW - Challenges KW - Microfinance Institutions (MFIs) KW - performance KW - Ghana DO - 10.22105/jarie.2020.213974.1118 N2 - Microfinance Institutions (MFIs) contribute significantly to the development of a country and many of these institutions are found in most developing countries including Ghana. However, many challenges have been alleged to stifle the efforts of microfinance companies in their attempt to make their all-important contribution to the development of nations. This study explored the effect of operational flaws on the performance of microfinance institutions in Ghana. The results discovered flaws and challenges associated with the operations of the MFIs in many areas including corporate governance, credit risk management, credit administration, regulatory challenges, and training programs. The study also revealed that such flaws and challenges do harm the overall performance of the MFIs. Based on the findings, it is recommended that MFIs put in place a well-composed and resourceful credit committee to perform the duty of credit risk management in the institutions. The institutions could also reduce their interest rates to encourage their clients to apply for more loans. Lastly, it is recommended that the MFIs take all necessary steps to ensure that they reduce the flaws and challenges they face to mitigate the negative impact of such deficiencies on their performance. UR - https://www.journal-aprie.com/article_111634.html L1 - https://www.journal-aprie.com/article_111634_8498fdeda11465906107e64f9ba6198b.pdf ER -