IIARD International Institute of Academic Research and Development

INTERNATIONAL JOURNAL OF SOCIAL SCIENCES AND MANAGEMENT RESEARCH (IJSSMR )

E-ISSN 2545-5303
P-ISSN 2695-2203
VOL. 11 NO. 5 2025
DOI: 10.56201/ijssmr.vol.11no5.2025.pg295.306

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Cashless Policy and Business Growth; A Study of Selected Manufacturing Companies in Anambra State, Nigeria

Okonewa Onyinyechukwu , Uchegbu Callista Ukamaka, Umenzekwe Peace and Ezerioha Timothy

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Abstract

This study examined the nexus of cashless policy on business growth of manufacturing companies, focusing on two key players in Anambra State, Nigeria: Tummy-Tummy Foods Ind. Limited and Tiger Foods Limited. Conducted between 2012 and 2022, the research was motivated by the escalating prevalence of cashless transactions and their potential influence on economic activities, particularly within the manufacturing sector. Utilizing a mixed-methods research design, the data collection process involved a comprehensive analysis of financial reports and operational metrics. The sample size was carefully chosen to reflect the distinctive features of each company's financial landscape, considering factors such as turnover, profitability, and market share. Both quantitative and qualitative data analyses were deployed, leveraging statistical software like SPSS alongside qualitative data analysis tools to extract nuanced insights. The findings provided valuable insights into the correlation between the adoption of cashless payment channels and business growth within the manufacturing sector. Specifically, the research uncovered how the cashless policy influenced financial performance, market competitiveness, and overall growth strategies for Tummy-Tummy Foods Ind. Limited and Tiger Foods Limited. In conclusion, the study contributed essential insights into the evolving landscape of cashless transactions and their implications for the business growth of manufacturing companies. Recommendations derived from the findings offer actionable insights for these companies and serve as a broader guide for businesses navigating the transition to a cashless economy in Anambra State and beyond.

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