OpenUCT :: Browsing by Department "Research of GSB"

Browsing by Department "Research of GSB"

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Open Access
The ability of renewable energy assets to attract private investment: factors and considerations that influence an investor's decision to invest into South African assets with a renewable energy exposure
(2017) Napier, Sarah Vicki; Ryan, Tom
This paper aims at facilitating, through research and increased understanding, the inflow of investments into renewable energy (RE) assets. The private sector represents vast pools of funding that is needed for RE capacity to be unlocked on a sustainable and large scale rate. Through using a grounded theory research design methodology, the drivers and restraints identified were the risks and rewards involved in investing into a RE asset, specifically the macro-economic and microeconomic risk and reward factors involved. Renewable energy assets were found to closely be affected by government policies and the stability thereof. Return attributes to renewable energy were a high cash yielding, long term in nature and inflation indexed payments - all attractive attributes to pension funds, the largest private investment group with regards to assets under management. Through the grounded theory methodology process a causal loop diagram (CLD) was built, representative of the insights of RE as an asset class- gained from the literature. One leveraging factor identified in the CLD to increase investment is government policy stability which will substantially decrease perceived risks to investors and facilitate in increased investments into renewable energy assets.
Open Access
Alternative financing of teacher education in South Africa: Stakeholder affinity
(2018) Saba, Namhla; Kabinga, Mundia
Adequately prepared quality Maths and Science teachers are crucial to addressing South Africa’s poor learner results and the associated skills development shortages. South Africa has been characterised by dismal and worsening matric SMT results over the past two decades, which jeopardises current and future prospects of a successful transitioning in the fourth industrial revolution. Critically underpinning this dismal performance are teacher quality and quantity. South Africa’s public education sector is known for its ill-prepared and unqualified teachers who struggle specifically with contextual application abilities. While past scholarly research and policy interventions have focused on financing teacher education quantities with considerable success, little if anything has been documented about innovative project financing approaches to quality teacher training, and the potential for wholesale adoption in social entrepreneurship, public-private partnerships in resource constrained contexts. SIBs were identified as a potential complementary finance model mainly due to identified characteristics and associated benefits. A qualitative study was conducted in order to find out how South African stakeholders can navigate the operational and associated financial challenges of developing quality Maths and Science teachers for the public sector. The study, limited to the capacity building dimensions of teacher training in South Africa, endeavored to understand how alternate financing mechanisms could respond to some of the key challenges of developing quality teachers. Interviews were conducted with the relevant participants in a SIB which included Education government representatives, teacher training service providers and private sector financiers. The research identifies that the value of implementing a SIB in teacher training is based on its ability to accommodate heterogeneous outcomes of an alternative holistic teacher training framework. This models strength lies in its reliance on strong partnerships for both implementation and financial outcomes. The SIB model finds its theoretical framework in project finance and has characteristics that can be seen as complementary solutions to the key challenges of developing teachers as well as a potential solution for wholesale implementation. From an operational perspective, the SIB creates a platform for the public educations lack of quality teacher infrastructure to leverage off private education’s quality teacher infrastructure in capacitating current and incoming teachers into the public sector. Thus allowing for the education sectors to collaborate and cross pollinate skills, resources and knowledge for the benefit of boosting the public sectors teacher training implementation capabilities. This ensures that the right skills, competencies and platforms are utilised in tackling challenges emanating from insufficient, irrelevant and unsupported experiential learning. The model also places outcomes at the centre and as a driving force for quality teacher delivery. This encourages stakeholders to earnestly consider quality teacher characteristics and include the associated key performance indicators at the different stages of development. This shifts the focus of teacher training delivery in South Africa to being outcomes driven rather than being inputs focused. This shift has proven to be a more cost effective method of addressing social challenges. From a financial perspective, once the requirements from public and private financial sectors have been met, the model also taps into new capital sources for scaling the implementation of a holistic teacher training model. The additional resources also enables government to introduce social entrepreneurs into education delivery and scale funding innovative preventative teacher training solutions. The PPP model is not without its challenges within the South African teacher education landscape. However conceptually, all the stakeholders appear keen to further engage and explore the merits of the holistic quality teacher framework, representing an emerging opportunity towards collaborative efforts in lure of a common social goal. Factors such as the alignment of objectives amongst stakeholders and additional revenue streams were identified as dominant stakeholder incentives affirming the desire to engage. Meanwhile, factors such as challenges with quantifying and measuring teacher quality, implementation and execution risk, and trust deficit issues were identified as dominant challenges that highlighted stakeholder key reservations with the framework.
Open Access
An analysis of Candlestick charting: the predictive power of the three-outside-up and three-outside-down Candlestick patterns in the context of small capitalization stocks in the USA
(2015) Hutton, Simon; Gossel, Sean J
This paper examines the predictive power of two Japanese Candlestick patterns for a 49-stock sample of small capitalization stocks drawn from the S&P 600 for the period 1 June 2005 to 15 May 2015. Using the normal approximation to the binomial for statistical testing and a dynamic holding period strategy to test the threeoutside- up and three-outside-down patterns, this study contradicts earlier works that used dynamic holding period strategies for large capitalization stocks and showed moderate levels of statistically significant predictive power. This study finds no statistically significant evidence of the predictive power of the three-outside-up and three-outside- down patterns for the sample and time period considered. Hence, the findings imply that there is no evidence to challenge the Efficient Market Hypothesis.
Open Access
Analysis of demographic, socio-economic and geographic factors affecting adoption and success of personal income tax e-filing in South Africa
(2017) Mathaba, Jeffrey Themba; Pamburai, Hamutyinei Harvey
E-filing of personal income tax returns is regarded as one of the South African Revenue Service (SARS)'s success stories based on its growth since its inception in 2006. Given the importance of tax revenue as a major source of revenue to government, this study explores the effects of personal income tax e-filling on tax compliance and tax revenues. The study was carried out with three objectives, namely; determining the relationship between personal e-filing growth and some demographic, socio-economic and geographic factors in South Africa; determining the relationship between personal income tax e-filing and personal income tax revenue; and determining the relationship between personal income tax e-filing and tax compliance. Descriptive statistics and the pooled ordinary least square were employed to analyse the data having found the absence of unit root at levels in the data. The study covered 6-year period prior to e-filing (2000-2005) and 10-year period of e-filing implementation from 2006 to 2015, with data collected from publicly available SARS database on registered taxpayers and revenues collected nationally and across South Africa's nine provinces and metropolitan areas. The results indicate that e-filing had a positive contribution to increase personal income tax revenue collection as well as tax compliance over the study period. The study concludes that the introduction of e-filling provided an opportunity for improved collection and compliance across the provinces of South Africa. We therefore recommend, among others, that investigations and investments in tax technology & e-filing in non-metropolitan areas be considered, and further research be done in identified areas of interest in South Africa and rest of the African continent.
Open Access
An analysis of funding liquidity risk in the South African banking system
(2013) Zonke, Khaya; Pooe, C
Most emerging markets are faced with the predicament of a misalignment, or mismatch, of assets and liabilities in the banking sector where long-term assets are funded by short-term deposits. The South African (SA) banking sector also faces a challenge regarding the composition of the short-term deposits that fund these assets. The large and unstable wholesale funds dominate the funding side of local banks' balance sheets, particularly in the short-term bucket. The danger with wholesale funds arises when they are withdrawn unexpectedly, due to either perceived or realised risk. Due to their bulk, the wholesale funds have the potential to create a funding liquidity risk crisis in a bank. Most banks are unlikely to match these types of withdrawals, and will therefore have a forced asset fire sale to fund them. Retail funds do not face this danger, as it is highly unlikely, in normal market conditions, which many retail depositors would want to withdraw all their funds at the same time. Furthermore, retail funds are a cheaper source of funding compared to wholesale funds, thus making them a bank's preferred source of funding. In as much as they are a preferred source of funding, in the SA banking system retail deposits are very low compared to wholesale funding. This research study explores the funding liquidity risk and the predicament that exists in the SA banking industry by highlighting its main sources, and providing recommendations on how it can be addressed. This is achieved by testing the relationship between the ratio of retail funding to total bank funding (ROBF) and five explanatory variables, namely: household saving rates; retail deposit rates; corporate saving rates; wholesale deposit rates; and the Johannesburg Stock Exchange (JSE) All Share Index, with the aid of the multiple regression analysis method. The regression analysis was performed on data collected between 2002 and 2011. The research established that household saving rates and retail deposit rates were predictors that were statistically significant in explaining the movement in the ratio of retail funding to total funding.
Open Access
An analysis of push and pull factors of capital flows in a regional trading bloc
(2018) Mudyazvivi, Elton; Gossel, Sean J
Inflows of Foreign Direct Investment (FDI) and Foreign Portfolio Investment (FPI) into Sub Saharan Africa (SSA) between 2000 and 2014 remained a minute fraction (at only 2% and 1% respectively) of global inflows. This study seeks to explain this phenomenon by examining the push (global) and pull (domestic) factors that may help to explain inflows of FDI and FPI in SSA and the mechanisms through which these factors affect inflows (the how). As ongoing regional integration efforts in Africa through trading blocs, the study also discusses the role of regional trading blocs in explaining capital flows into SSA. In the process, the research challenges some of the established theories and contributes to policy for managing international capital inflows. The study identifies possible explanatory variables from existing theory and empirical studies. Data on possible determinants of FDI and FPI is largely extracted from the World Bank and IMF databases. The determinants considered are macro-economic, infrastructural, institutional, resource endowment and geographical related. These are modeled into econometric model of FDI and FPI. Several hypotheses on the possible determinants are then tested using panel regressions with random effects. The results indicate that SSA's FDI during the period reviewed is mainly pulled by macroeconomic dynamics, infrastructure and human resources factors and pushed by global macroeconomic performance. Likewise, FPI is largely pulled by GDP and infrastructure factors. The results further show that FDI and FPI inflows in regional trading blocs of SADC, COMESA and ECOWAS are affected by different risk, return, macroeconomic, trade and distance factors. The effects of factors such as distance and macroeconomic factors also vary across the regional trading blocs, suggesting their importance of these blocs in capital flows.
Open Access
An analysis of the causality effect of exchange rate and interest yields: a case study of Zambia
(2017) Bwalya, Obed; Uliana, Enrico
This study analyses the relationship between the US Dollar/Zambian kwacha exchange rate and the interest rate yields on the 91-day and 182-day T-bills in Zambia. Using statistical analysis of regression analysis and co integration, the study found that a long-run relationship does not hold for both 91-day and 182-day T-bills taken for any corresponding set of interest rate and exchange rate respectively. Nonetheless, the three variables taken simultaneously demonstrated that a long-run correlation exist. Following a comprehensive analysis of the results from this study, it is concluded that the statistical relationship that exists is not very significant and investors looking forward to invest in Zambia's financial markets should include other factors in order to forecast the exchange rates with regard to the changes in interest rates.
Open Access
An analysis of the potential socio-economic impacts of shale gas development in South Africa
(2016) Tukwayo, Yonela; Altieri, Katye; Caetano, Tara Helena
The South African government is in the process of considering shale gas exploration applications in the Karoo basin. There are conflicting views on whether the development of the resource will be to the detriment or benefit of the South African economy. This paper makes use of a dynamic Computable General Equilibrium (CGE) model adapted for the South African energy sector to analyse the potential socio-economic impacts of the development of shale gas. Simulation results indicate potential negative impacts on GDP contribution by all the sectors simulated, except the natural gas sector and the Gas-to-Liquid petroleum sector, as well as potential negative impacts on employment. The negative impacts on growth and employment are likely to worsen poverty and inequality. Potential impacts on trade are negative as the trade deficit increases. In terms of environmental impacts, the uptake of gas would decrease CO2 emissions. All results are compared to the baseline scenario. Based on these results, it is recommended that the decision on whether the development should go ahead or not ought to take into account the potential socio-economic costs, and potential ways to hedge against them.
Open Access
An analysis of the profitability and sustainability of savings and credit co-operatives in Botswana
(2018) Nthaga, Laone Gosego; Alhassan, Abdul Latif
Since the 2008 financial crisis, global attention has been drawn to co-operatives, owing to their resilience and ability to flourish during tough economic conditions. The potential of co-operatives as a catalyst for sustainable development is of particular interest to a country like Botswana, where the economy is heavily reliant on a single commodity trade and there is potential for greater participation of the citizens in economic and social development of the country. The growing participation of co-operatives, particularly savings and credit co-operatives (SACCOs), has proved to be a channel for increasing access to finance for the traditionally unbanked, a reduction in poverty levels, and continued socioeconomic development across the African continent. In Botswana, however, only 26% of co-operatives are profitable, while 30% operate at a loss or break even. This necessitates an empirical investigation into the performance (profitability and sustainability) of SACCOs in Botswana. Literature presents various views regarding the determinants of profitability of SACCOs; these include the selection of a skilled management committee, the clear articulation of and compliance with a credit policy, the presence of a savings culture in the area of operation, sound corporate governance, credit default rates, membership numbers and members' level of financial literacy. This study ascertains the key determinants of the profitability and sustainability of SACCOs in Botswana and the extent to which these factors influence the SACCOs' operational self-sufficiency (OSS). The population included 39 SACCOs from eight regions across the country. The independent variables chosen were return on assets, deposit mobilisation, current ratio, capital structure, and membership size. Panel data analysis for financial data collected over 10 years (2005 to 2015) for all registered SACCOs was used. The study revealed that return on assets and capital structure were significantly and positively related to OSS, which was generally consistent with literature. Size and liquidity were found to be statistically insignificant determinants of OSS. A finding unique to this study, and contrary to literature, was the negative relationship observed between deposit mobilisation and OSS. Informed by the findings of the study, the main recommendations are that members of SACCOs as well as regulators should ensure that management provides a clear investment strategy that shows consideration for revenue diversification. The Ministry of Investment, Trade and Industry should also channel resources into implementing supporting policies and legislature for SACCOs, such as the Co-operative Transformation Strategy, to enable these entities to thrive.
Open Access
Assessing the Principal Agent Problem in Mobile Money Services: Lessons from M – PESA in Lesotho
(2018) Thabane, Matela; Biekpe, Nicholas
The expansion and diffusion of mobile phones globally has resulted in the provision of financial transactional services over the existing mobile phone platforms, generally referred to as mobile money. The supply end of mobile money services is an important factor in the success of the financial transactions offering. This research assessed vulnerabilities in the mobile money supply network that are inherently related to the existence of the principal – agent problem and their implications on availability and access to the services. The research study was conducted using a qualitative approach. Qualitative information was collected through interviews guided by open – ended questionnaires. Thematic analysis approach was followed to systematically analyse the data and generate findings of the study. Agent transactional data was analysed to complement the findings from qualitative analysis The findings suggest that the principal agent problem permeates the mobile money delivery network mainly after businesses joining as agents and manifests as moral hazard. Moral hazard is the dominant feature of the principal – agent problem, with adverse selection very low. Drivers of moral hazard are demonstrated by the influences and demands of agents’ core businesses and challenges in agent monitoring and training. The existence of the principal – agent problem has limited or no implications on access and availability of services. However, overtime the combined vulnerabilities identified related to the principal agent problem are likely to manifest into risks that are likely to affect access and availability of mobile money services. Regulators, Mobile Network Operators and agent enterprises must collectively review monitoring approaches for mobile money service providers to address challenges identified and increase the effectiveness of monitoring. Service provision standards should be reviewed to suit the various business environments the services are provided within. Mobile Network Operators and agent enterprises need to institute stronger partnership arrangements that enhance ownership and obligations for all parties, in particular agent enterprises. Agreements must enable application of different mobile money delivery models suitable to meet the demands and requirements of the agents’ core businesses. Innovations such as Near Field Communication (NFC) can be integrated with Point of sale (POS) applications and mobile money platforms to reduce the administration burden on agents and human error. Such applications must consider the cost implications of adoption from the agents’ business perspective.
Open Access
An assessment of the financial sustainability of savings and credit cooperative societies in Kenya
(2018) Waweru, Gabriel; Ramaboa, Kutlwano K K M
Savings and Credit Cooperative Societies (SACCOs) are voluntary associations of people with the common goal of encouraging savings and granting credit to members as a means to their economic improvement. For a long period of time, SACCOs have been seen as a way of ensuring savings and investments, especially by the middle and lower economic classes. In Kenya, these institutions have managed to accumulate funds running into billions of shillings, and many members have benefited from them. However, in the last few years, many of these institutions have experienced serious financial challenges that have led to some of them winding up or becoming dormant, resulting in a loss of funds for members. The primary objective of this study was to determine the factors that influence the financial sustainability of SACCOs in Kenya. The study explored the influence of financial outreach, financial regulation, corporate governance, size and age on financial sustainability. A sample of 166 SACCOs was drawn for the study, and generalised least square technique was used to analyse the data. Empirical findings of the study reveal that financial outreach, as measured by the number of members, exerts a significant influence on financial sustainability. Similarly, financial regulation, SACCOs' governance, SACCOs' size and SACCOs' age were found to exert a significant influence on the financial sustainability of SACCOs. The study has contributed to theory by applying both monetary and non-monetary measures to profitability theory of financial sustainability. While contributing to empirics, the study has delineated the relationship between the study factors and their financial sustainability status (FSS), as well as documenting the FSS of SACCOs in Kenya. In terms of methodology, the study applied the GLS analysis technique. Finally, the study provides useful information to SACCO policy makers and opens avenues for future research, thus contributing to practice. The recommendations of the study provide insights into how to rescue ailing SACCOs in Kenya and ameliorate the existing situation.
Open Access
Beijing Consensus: alternative for Africa's development challenges? The case for Zimbabwe
(2015) Nyere, Shepherd; Ellyne, Mark
The research aimed to study whether the Beijing Consensus, a Chinese development model is an alternative development model for Africa. The study used Zimbabwe's plan to collateralise its natural resources mainly minerals under the Angola Model strategy as a test case. Zimbabwe's economic revival is currently ransomed by an unsustainable debt that has blocked external financial aid from its traditional donors and the western world. This is against the background that since the 1989, economist John Williamson's economic and policy recommendations known as the Washington Consensus became generally accepted as the most effective model by which developing countries could spur growth. This model based around ten policy recommendations embracing ideals of free-market capitalism that include open trade policies, privatisation and deregulation provided a prescription for development in the less developed countries. However, its implementation had mixed results such as multiple currency crisis, stagnation and recession during the financial turmoil of the 1990s and the most recent and more severe 2007 financial crises that led to the collapse of several nations' economic systems. This further eroded the confidence in the Western neoliberal economic model leaving the world calling for an alternative development model. By the turn of the century, a new strategy driven by China that has been defined by Joshua Cooper Ramo as the Beijing Consensus surfaced as a challenge to the Washington Consensus. This model is described as pragmatic, recognises the need for flexibility in solving multifarious problems. The model sounding warning bells for a post-Washington Consensus is inherently focused on innovation and emphasise equitable development driven by the central government has quickly gained appeal within the developing world challenging the Washington Consensus' antiquated policies. This exploratory research case study using primarily available literature on the subject sought to determine whether the Beijing Consensus is an alternative development model for Africa. To help synthesise the subject, Zimbabwe was used as a case study through primarily the "Angola model"- a Chinese strategy for resource-rich countries that are unable to guarantee loan repayments. Apart from the "Angola model", the study looked at the overall impact of the Chinese investments in Zimbabwe and Africa in general. The findings of the study has revealed while the Angola Model may have worked for Angola and other oil producing nations, it however will not benefit Zimbabwe as it is not geared in solving the current debt crisis. The results also show that while the Beijing Consensus may not actually be a consensus, it is currently an alternative for African nations as it presents an array of choices. It however does not seem to replace the Washington Consensus as a widely accepted consensus model for development but it has the right ingredients from a starting point to develop into an alternative model.
Open Access
Bound to Impact: a best practices guide to term sheets in African Impact Investing deals
(2016) Pepper, Nicholas; Patton, Aunnie; McPherson, Sharron
This study focuses on the Impact Investing industry in sub-Saharan Africa through a comparative analysis of three industry-leading institutions' term sheets. A key output of this exploratory research is the development of a best practices guide to social and environmental covenants (clauses included in the term sheet). The researcher has compiled primary data through practitioner interviews; secondary data was compiled by analysing executed legal documents and templates. The process was conducted with academic rigour in order to categorise and compare specific information. Preliminary research involved the researcher exchanging with a DFI and two commercial Impact Investors. The DFI provides both equity and debt, whereas one of the commercial Investors specialises in private equity and the other in private debt. The institutions are industry agnostic. The study has the objective to test two linked null hypotheses:  Impact Investors do not align their terms sheets to their values; and  Impact Investors do not require that certain clauses be systematically included in order to protect their interests Through case studies, the research initially develops on the key elements of an equity term sheet and provides a fictitious debt term sheet as a reference. Equity and debt legal documents are compared and analysed independently. After having isolated and analysed social and environmental covenants, the researcher concludes that neither hypothesis can be rejected. Further research is recommended limiting the scope to a specific industry or a specific asset class. Understanding and comparing Development Finance Institutions' methods would be of value. A quantitative analysis would isolate the success factors and appropriate constraints on the legal documentation in order to maximise financial and social and environmental returns.
Open Access
Bridging the health inequality gap: an examination of South Africa’s social innovation in health landscape
(2021-03-01) de Villiers, Katusha
Background Despite the end of apartheid in the early 1990s, South Africa remains racially and economically segregated. The country is beset by persistent social inequality, poverty, unemployment, a heavy burden of disease and the inequitable quality of healthcare service provision. The South African health system is currently engaged in the complex project of establishing universal health coverage that ensures the system’s ability to deliver comprehensive care that is accessible, affordable and acceptable to patients and families, while acknowledging the significant pressures to which the system is subject. Within this framework, the Bertha Centre for Social Innovation & Entrepreneurship works to pursue social impact towards social justice in Africa with a systems lens on social innovation within innovative finance, health, education and youth development. The aim of this study is to demonstrate the capacity for social innovation in health with respect for South Africa, and to highlight some current innovations that respond to issues of health equity such as accessibility, affordability, and acceptability. Methods Different data types were collected to gain a rich understanding of the current context of social innovation in health within South Africa, supported by mini-case studies and examples from across the African continent, including: primary interviews, literature reviews, and organisational documentation reviews. Key stakeholders were identified, to provide the authors with an understanding of the context in which the innovations have been developed and implemented as well as the enablers and constraints. Stakeholders includes senior level managers, frontline health workers, Ministry of Health officials, and beneficiaries. A descriptive analysis strategy was adopted. Results South Africa’s health care system may be viewed, to a large extent, as a reflection of the issues facing other Southern African countries with a similar disease burden, lack of systemic infrastructure and cohesiveness, and societal inequalities. The evolving health landscape in South Africa and the reforms being undertaken to prepare for a National Healthcare Insurance presents the opportunity to understand effective models of care provision as developed in other African contexts, and to translate these models as appropriate to the South African environment. Conclusions After examining the cases of heath innovation, it is clear that no one actor, no matter how innovative, can change the system alone. The interaction and collaboration between the government and non-state actors is critical for an integrated and effective delivery system for both health and social care.
Open Access
Bringing them together: integrating economic and social-ecological dimensions in corporate decision-making
(2016) Mayers, Nadine; Hamann, Ralph; Smit, Arnold
The integration of economic, social and environmental dimensions is essential for corporate sustainability. Integration requires that there be no a priori priority among these dimensions. Economic priorities, however, often dominate decision-making processes in for-profit organisations. This thesis asks how do organisations integrate predominant economic dimensions, on the one hand, and social-ecological dimensions, on the other? The question is focused on the middle management level, where relatively little is known about how competing organisational aspects are integrated. The study addresses a gap in theory relating to tensions in corporate sustainability by drawing on paradox, organisational ambidexterity and organisational identity literatures. The case study explored the research question from the lived experience of purposefully sampled research participants in a century-old mining company. The study focused on the integration of economic and social-ecological (E&SE) dimensions in the cross-functional decision-making process where mining projects are developed. Findings from the inductive analysis before and after the introduction of an intentional integration process revealed five dimensions of differentiation that were further explored. The analysis culminated in a process model of E&SE integration. I argue that E&SE integration on the middle management level is characterised by tensions between competing, interrelated priorities that constrain integration. Notwithstanding organisational commitment to corporate sustainability and E&SE integration, failure to manage these tensions perpetuates unsustainable outcomes in decision-making processes. The overarching contribution to corporate sustainability literature is a process model of E&SE integration on the middle management level that addresses the tensions that constrain integration. Integration is enabled by suspending premature convergence on a single option and by bringing social-ecological dimensions to the forefront in order to explore how E&SE dimensions are interdependent, before making binding choices. The study contributes to organisational ambidexterity literature by showing how the integration of strategic priorities on the middle management level is distinct from integration on the senior management level with respect to the quality of the decision and the locus of integration. The study also contributes to an emerging scholarly conversation regarding organisational purpose by identifying how reframing purpose into an integrative metaframe can enable commitment to an integrated decision-making process.
Open Access
Business Architecture Tool (BAT) : development and assessment of a systems framework to guide organisations from concept to delivery, in terms of creating deeper and meaningful integration across processes and functions
(2008) Udemans, Fuad; Ryan, Thomas
This thesis is based upon a prolonged research period, wherein a practical systems based tool (prototype), was researched, developed and tested, so as to gain outputs of integration improvements for service delivery in South Africa (SA) specifically, and in general for developmental economies. The research question can be summarised as: "to develop a systems-based intervention tool, able to provide practical integration improvements from concept to delivery". Existing systems methods and approaches were accessed, and based upon their utility for the local context, were used to varying degrees, in "building" the prototype, which was tested across a number of interventions, categorised under "world of the client"; and "world of the designer" (firm created for this purpose). Being aware of local and international implementation challenges by virtue of experience as consultant for a number of governments, whereby national planning and implementation techniques tend to be embed mechanistic models of thinking directly affecting how agents and agencies: understand the problem; plan to resolve the problem; and implement the designed solutions. The research sought to recover key systems insights in order to build a practical tool that could reduce negative outcomes, perpetrated by well-intended reforms, having limited integrative thinking, planning and delivery. The research required long-term observation, reflection, and extensive literature review. A distinctive feature of the research is the account of the author's exploration of his learning and development, within University of Cape Town PhD: Business Architecture embedded in complexity and systems theory.
Open Access
Business incubators in Zambia: A study of the impact on small business enterprises
(2017) Kasase, William K; Jere, Mlenga Golden
This study tested the impact of Business Incubators (BI) in stimulating the growth of small to medium businesses in a Southern African country, Zambia. The study explores the existence, awareness, beliefs and experience in a sub Saharan context, identifying the key impact factors. The study was aimed at understanding whether the operation of business incubators would result in stimulating small to medium business enterprises the same way it does in the west. To achieve this, the study reviewed the existing literature on the subject matter and analysed the collected data using a questionnaire was analysed. The collected data was analysed using SSPS. The results of the analysis revealed that 64% of the respondents had heard about Business Incubators. This was done through a scientific research by a well selected set of interview questionnaires, from a sample size of 300 small to medium businesses. Only 19% confirmed receiving business assistance from a support initiative. 95% of the total respondents confirmed that a business incubator program would impact the growth of their businesses in many areas. The study further found that there were a few challenges with access to a Business Incubator. Prominent amount them was the restricted access to SMEs located in the cities. Secondly, the respondents bemoaned that the application procedure was complicated and needed to be simplified and translated into local languages. The research makes the conclusion that Business Incubators have a positive impact on the growth of small businesses in Zambia, based on the empirical evidence obtained during the study. The study revealed 32% of incubated businesses had reduced their operation costs. Contrary to available research, entrepreneurs who had received support from Business Incubators employed fewer employees than those that did not. The study therefore, questioned how business incubators increased the probability of the long term survival of the enterprise.
Open Access
Can individuals be influential in driving sustainable and responsible investing?
(2015) Nkomo, Juliana; Giamporcaro, Stephanie
Trust law has hindered beneficiaries from exerting their voice in the administration of their funds. Yet, individuals do have opinions on how they want their funds to be invested and wish to direct the investments to align with their values. For a majority of individuals, this influence is mainly through their retirement fund investments. However, trust law means that the ultimate power to decide on the investment process rests in the hands of trustees to act on behalf of all beneficiaries. And trustees also further delegate most investment decisions to the investment managers. The findings of this research, as other researchers have also found, suggests that individuals who have some knowledge of SRI show a greater willingness to invest in sustainable funds. It also suggests that after choosing the type of funds that they wish to invest in, individuals place a lot of trust in their trustees to act in their best interests by investing responsibly. The research explores the various dynamics that are at play that explain individual behaviour and attitudes towards financial planning with regards to their retirement investments. The implications of my findings may have relevance in understanding what drives individuals to become active in the investment arena and may serve as a harbinger to changes in fiduciary relationships as we know them. Further research can be done in this area that will assist policy makers to consider regulation changes that could lead to the greater inclusion of final beneficiaries in the investment management process.
Open Access
The case of Land Bank's retail emerging markets (REM) funding model for emerging farmers
(2017) Dlamini, Mandisa; Nyathi, Nceku
The Land Bank's retail emerging markets (REM) funding model was established in 2011. The main objective of the following study was to investigate whether the collaborations between agricultural industry players involved in the funding model, had been beneficial towards supporting the growth of black emerging farmers. The two funding approaches taken being, direct lending to individual farmers and the wholesale financing facility aimed at farmer groups, are explored in detail. The method of analysis adopted was mixed, comprising of a qualitative and quantitative approach. The quantitative approach was directed at the entire REM loan book, to obtain a view of the growth of the book over time; the performance of the loans and the level of non-performing loans within the book. The results thereof would be of interest given that emerging farmers were perceived to be of a high risk. The qualitative approach delved deeper into the relationship between the Land Bank and intermediaries which were tasked to provide end-to-end business support to the emerging farmers. The expected results would include an observation of the development and social impact, including skills development for the emerging farmers. The questionnaire completed by a sample of black emerging farmers, working with intermediaries revealed a few positive factors. The emerging farmers not only received technical support, but also developed a range of skills which are suited to operating a successful farm and running a profitable business. Although affected by the drought, the farmers were able to generate a profit and also create employment in their communities, thereby making a contribution towards a social impact, through their development. However the farmers also spoke out about the challenges they still encountered in the industry. The quantitative analysis displayed that the portion of the REM loan book which consisted of non-performing loans was a small percentage, relative to the performance of the entire loan book. Furthermore, the REM loan book had increased sizeably since its inception, reaching out to a wider scope of emerging farmers. Overall, the Land Bank's REM funding model was a success.
Open Access
Catalytic effects of IMF agreements on foreign direct investment (FDI) inflows in sub-Saharan Africa
(2017) Mathebula, Percy; Alhassan, Abdul Latif
It is customary to postulate that International Monetary Fund (IMF) agreements or arrangements in Sub-Saharan Africa (SSA) will facilitate foreign capital investments or FDI inflows from multinational corporations and or foreign investors. Through empirical observations, and using a two-stage modelling technique, this research tested and examined this hypothesis. It empirically showed that SSA countries that had IMF interventions for the period 1980 to 2015 attracted FDI inflows into their economies. The study rebutted the claim that countries with previous IMF interventions were likely to appeal to multinational corporations (MNCs) or foreign investors and thereby cause the inflow of FDI into Sub-Saharan Africa.