Credit Use and Determinants of Economic Efficiency of Cocoa Seeds Processors in South East Nigeria
2024
Timothy, C. | Chima, A.A. | Onwumere, J.C. | Igwe, K.C.
This study examined credit use and the determinants of economic efficiency of cocoa seed processing entrepreneurs in South East, Nigeria. A multi-stage random sampling technique was used in choosing the sample. Primary data collected from 180 seedlings-producing entrepreneurs were used for the study. Data collected were analyzed using descriptive statistics and the Maximum Likelihood Stochastic (MLS) regression model. Findings showed that the majority (66.77) percent of entrepreneurs use informal credit sources. Results from MLS showed that for the pooled sample, the coefficients of sex and cooperative membership each showed a positive significance. For the Formal Credit Users entrepreneurs, age, processing experience and quantity processed showed positive and significant. For the Informal Credit Users entrepreneurs, age and cooperative membership showed positive and significant. The study recommends that government and formal financial institutions should make formal credit available to entrepreneurs as cocoa processing requires some level of capital investment, thereby creating more employment opportunities for youths who want to invest in agriculture.
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