What question did this study set out to answer?

To examine how retirement goal clarity and financial self-efficacy affect retirement planning among manufacturing SME owners, testing the mediating role of financial literacy and the moderating role of perceived government policy.

September 17, 2026Cogent Business & ManagementOpen Access

Financial retirement planning among manufacturing SME owners in Tanzania: a moderated mediation model

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Authors

HMHussein MwaifyusiMzumbe University JKJohn Nasania KinguInstitute of Finance Management JMJustus Gratian MwemeziInstitute of Finance and Banking

Discussion

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Implication

Survey study reveals that financial self-efficacy and goal clarity drive retirement planning in manufacturing SME owners, highlighting the synergistic value of financial literacy and policy support.

Key Points

To examine how retirement goal clarity and financial self-efficacy affect retirement planning among manufacturing SME owners, testing the mediating role of financial literacy and the moderating role of perceived government policy.
Cross-sectional survey administered to N=387 manufacturing SME owners operating across major regions in Tanzania.
Partial least squares structural equation modeling (PLS-SEM) was conducted to test the hypothesized moderated mediation model framed around Intentional Change Theory.
Financial self-efficacy and retirement goal clarity demonstrate significant direct positive effects on financial retirement planning, alongside significant indirect effects partially mediated by financial literacy.
Perceived government policy shows no significant direct impact on financial retirement planning, but significantly moderates and strengthens the relationship between retirement goal clarity and retirement planning.

Cite This Study

Mwaifyusi et al. (2026) studied this question.

synapsesocial.com/papers/6aabb68c5f706d05830e4fc4 https://doi.org/10.1080/23311975.2026.2732529

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Implication

Survey study reveals that financial self-efficacy and goal clarity drive retirement planning in manufacturing SME owners, highlighting the synergistic value of financial literacy and policy support.

Financial retirement planning among manufacturing SME owners in Tanzania: a moderated mediation model

Discussion

Member takes

Implication

Key Points

Cite This Study

Financial retirement planning among manufacturing SME owners in Tanzania: a moderated mediation model

Discussion

Member takes

Implication

Key Points

Cite This Study

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