Liquidity risk in the agri-food industry of Kinshasa: A statistical assessment

Auteur(s): TEKASALA NLANDU Julien
Nom de la revue/Journal: International Journal of Scientific Research and Innovative Studies
Mois: octobre
Volume: 5
Numéro: 5
Année: 2026
pages: 568-579
DOI: 10.63883/ijsrisjournal.v5i5.1002

DOI : 10.63883/ijsrisjournal.v5i5.1002

Résumé

This study assesses the liquidity risk of seven agri-food  companies in Kinshasa over the period 2018–2024, using  secondary financial data from the National Balance Sheet  Centre of the Permanent Accounting Council of Congo  (CPCC). The analysis is based primarily on the standard deviation and coefficient of variation (CV) of current  liquidity, supplemented by a two-factor ANOVA and Tukey’s  post-hoc test.  The results show an overall standard deviation  of 1.95 per cent and a coefficient of variation (CV) of 104.31  per cent, indicating low absolute dispersion but very high  relative variability in liquidity. Based on the standard  deviation, the risk is very low for four companies, namely the  Compagnie des Margarines, Savons et Cosmétiques au Congo (CMSCC), the Compagnie Sucrière, the Industrie des  Boissons au Congo (IBC) and the Minoterie de Matadi  (MIDEMA); low for Afro American Industries (AAI);  moderate for the Usine de Panification de Kinshasa (UPAK);  and high for BRABANTA. The ANOVA reveals a significant  difference between companies (F = 4.168; p = 0.0028).  The  study therefore concludes that liquidity risk is low in absolute  terms but high in terms of relative variability, with particularly  marked instability in several of the companies studied.Keywords: liquidity risk, agri-food industry.