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

Abstract

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.

Received Date: August 17, 2026

Accepted Date: September 09, 2026

Published Date: October 01, 2026

Available Online at: https://www.ijsrisjournal.com/index.php/ojsfiles/article/view/1002