Browsing by Subject "Covid-19"

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    Covid-19 impact on Johannesburg Stock Exchange for the duration of the pandemic period
    (2025) Dube, Siyabonga; Alhassan, Abdul Latif
    For a considerable time and for different reasons, the financial system shocks endured during rare events continue to pique investors' and policymakers' keen interest. Consequently, this study explores COVID-19's impact on the JSE. The pandemic caused significant shocks to financial systems and economies. Uncertainties emanating from investor fear in response to the pandemic outbreak affected portfolio investment decisions. Additionally, policymakers implemented ‘social distancing' and stringent measures to restrict the contagion of the health crisis, which had a disruptive impact on global value chains. To limit these adverse effects, policymakers — subject to budgetary constraints — implemented fiscal, monetary, and other stimulus packages to lessen the adverse impact on the real economy. Extensive studies have examined the reaction and recovery of financial and economic markets following pandemic-induced shocks. These studies draw on theories from behavioural finance, financial risk contagion, and the efficient market hypothesis to analyse market responses and stability. This dissertation builds on the existing literature by examining the health crisis' transmission to the financial markets in an emerging economy. The study employed new deaths and stringency measures implemented during the pandemic period as proxies for COVID-19 and assessed their impact on ALSI returns, the variable of interest, using a quantile regression estimation technique. The results indicate a level of collinearity and multicollinearity between ALSI returns and global financial market performance indicators. The correlation between ALSI returns, the S&P 500 and Implied Volatility is statistically significant at 0.716 and –0.600 respectively. This outcome indicates the deepened integration of South African financial markets with the globe. The flight to safe havens was not observed. Contrasting ALSI returns with macroeconomic factors represented by crude oil and the rand–dollar exchange rate, the relationships are statistically insignificant. The real economy disturbances do not appear to have been transmitted to the financial markets in the long term. Progress in vaccine development and coordinated global policy interventions may have limited the sustained adverse impact on the real economy. This study offers key recommendations for portfolio design, policymaker intervention timing, and the balance between economic stimulation and containment efforts during pandemics.
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    Crisis as opportunity? Emergent groups, crisis relief, and social innovation in response to Covid-19
    (2022) Soderbergh, Jenny; Hamann, Ralph; Nilsson, Warren
    The Covid-19 pandemic brought the world to a halt in early 2020. In South Africa, as in many places around the world, the government instituted a strict national lockdown beginning at the end of March 2020 which catalyzed interconnected social and economic crises. However, the lockdown also catalyzed a proliferation of emergent crisis response groups and initiatives aimed at alleviating suffering. This qualitative case study follows the emergence and progression of eight such emergent response groups located in the Western Cape to explore the relationship between crisis response and social innovation. Over the course of one year, crisis responses are detailed across three temporal brackets: Emergence (initial crisis response), Plateau (sustained crisis response), and Evolution (differing response paths). These temporal brackets contain key themes within them, as well as enablers and barriers for transitioning between short-term crisis response and longer-term systemic change ambitions. The findings show that emergent response groups do persist in efforts well past the initial onset of a crisis and that they make intentional decisions around how to transition from crisis response towards longer-term change ambitions. Taking an institutional work lens to social innovation, this study shows that emergent response groups engage with and challenge multiple performative institutional dimensions in their work and that they have the ability, and often the desire, to affect more systemic change over time. This work aims to bring the academic conversations of crisis response and social innovation closer together, with a focus on individual and informal group agency, while also providing practical implications for supporting emergent response groups and social innovation in the face of future disruptions and crises.
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    Current tele-audiology services in clinical practice and the influence of the Covid-19 pandemic on audiologists? perceptions of tele-audiology
    (2025) Davids, Tersia; Hlayisi, Vera-Genevey; Petersen, Lucretia
    Approximately 20% of patients who undergo anti-reflux surgery will report a recurrence of reflux symptoms or develop new symptoms, with 5% ultimately requiring revision fundoplication. The aim of this study is to document symptoms at representation, pre-operative work-up and intraoperative findings of patients presenting for revision fundoplication (RF). Methods: This is a single center descriptive retrospective review of 37 patients who required revision of a previous fundoplication for significant recurrent symptoms between January 2015 and December 2017 at Groote Schuur Hospital and UCT Private Academic Hospital. Patient data included demographics, body mass index (BMI), patient reported symptoms prompting initial fundoplication, interval to symptom recurrence and RF, technique of the first and subsequent revision surgery and perioperative morbidity. Recurrent symptoms at representation, results of pre-operative investigations and actual intraoperative assessment during RF were reviewed. Results: During the two-year study period 37 patients underwent RF. The mean age was 52.9 years (range 22 – 77 years, SD =13.3), with 25 (67.6%) females and 12 (32.4%) males included in the cohort. The most frequent patient-reported indication for index fundoplication was gastro- oesophageal reflux (GOR) (65%). Symptoms at representation prior to RF included dysphagia (51.4%) and heartburn (51.4%) equally, epigastric pain (48.6%), volume reflux (43.2%), atypical chest pain (24.3%), bloating (16.2%), nausea (13.5%) and early satiety (10.8%). The most observed endoscopic finding (available in 35 patients) was a recurrent sliding hiatus hernia (42.9%). All had a contrast swallow with evidence of delayed transit into the stomach present in 45.9%, recurrent sliding hernia and dilated distal oesophagus in 35.1% equally. The RF was performed at a median of 24 months (IQR 2.5 - 66 months) following prior fundoplication. Technique of RF included 17 (45.9%) conversions from full Nissen to partial anterior fundoplication (Dor), 10 (27.0%) re-do Nissen's, two (5.4%) conversions from full Nissen to partial posterior fundoplication's (Toupet), three (8.1%) complete reversal of fundoplication with oesophagogastric junction adhesiolysis, two (5.4%) Heller's myotomies with anterior fundoplication, two (5.4%) crural repairs only (intact wraps) and one (2.7%) opening of tight crura closure. The majority (83.8%) of revisions were completed laparoscopically. The most frequent intraoperative findings included significant oesophagogastric adhesions with wrap distortion (75.7%), recurrent crural defect (51.4%), slipped wrap (45.9%), distal oesophageal/crural fibrosis (37.8%), recurrent sliding hernia (35.1%), a tight crural inlet (24.3%), mixed herniation (10.8%) and three (8.1%) para-oesophageal hernias. Conclusion: This single-center review on revision fundoplication conforms with much of what is written in other studies. Dysphagia is the predominant symptom prompting repeat surgery and most patients present two years after their initial operation. Despite revision anti-reflux surgery remaining technically challenging, the vast majority of operations were completed laparoscopically with low associated morbidity. Larger, multi-center studies would allow for a bigger picture of revision anti-reflux surgery in the greater South African context.
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    Drivers of socioeconomic inequalities of child hunger during COVID-19 in South Africa: evidence from NIDS-CRAM Waves 1–5
    (2022-11-16) Alaba, Olufunke A; Hongoro, Charles; Thulare, Aquina; Lukwa, Akim T
    Background Child hunger has long-term and short-term consequences, as starving children are at risk of many forms of malnutrition, including wasting, stunting, obesity and micronutrient deficiencies. The purpose of this paper is to show that the child hunger and socio-economic inequality in South Africa increased during her COVID-19 pandemic due to various lockdown regulations that have affected the economic status of the population. Methods This paper uses the National Income Dynamics Study-Coronavirus Rapid Mobile Survey (NIDS-CRAM WAVES 1–5) collected in South Africa during the intense COVID-19 pandemic of 2020 to assess the socioeconomic impacts of child hunger rated inequalities. First, child hunger was determined by a composite index calculated by the authors. Descriptive statistics were then shown for the investigated variables in a multiple logistic regression model to identify significant risk factors of child hunger. Additionally, the decomposable Erreygers' concentration index was used to measure socioeconomic inequalities on child hunger in South Africa during the Covid-19 pandemic. Results The overall burden of child hunger rates varied among the five waves (1–5). With proportions of adult respondents indicated that a child had gone hungry in the past 7 days: wave 1 (19.00%), wave 2 (13.76%), wave 3 (18.60%), wave 4 (15, 68%), wave 5 (15.30%). Child hunger burden was highest in the first wave and lowest in the second wave. The hunger burden was highest among children living in urban areas than among children living in rural areas. Access to electricity, access to water, respondent education, respondent gender, household size, and respondent age were significant determinants of adult reported child hunger. All the concentrated indices of the adult reported child hunger across households were negative in waves 1–5, suggesting that children from poor households were hungry. The intensity of the pro-poor inequalities also increased during the study period. To better understand what drove socioeconomic inequalites, in this study we analyzed the decomposed Erreygers Normalized Concentration Indices (ENCI). Across all five waves, results showed that race, socioeconomic status and type of housing were important factors in determining the burden of hunger among children in South Africa. Conclusion This study described the burden of adult reported child hunger and associated socioeconomic inequalities during the Covid-19 pandemic. The increasing prevalence of adult reported child hunger, especially among urban children, and the observed poverty inequality necessitate multisectoral pandemic shock interventions now and in the future, especially for urban households.
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    Socioeconomic inequalities in COVID-19 outcomes in south Africa
    (2025) Tshipetane, Anza; Alaba, Olufunke
    Background: This research addressed the crucial issue of socioeconomic inequalities associated with COVID-19 outcomes at the district level in South Africa. While previous literature has frequently relied on income as a measure of socioeconomic status, it's essential to recognize that socioeconomic standing is multifaceted and dynamic. In this study, we delved into these multidimensional factors shaping a population's SES, employing an intersectional approach that considers demographic, economic, and structural aspects of socioeconomic status. Our analysis aimed to understand how each of these dimensions, as well as their collective influence, impacts COVID-19 cases, recoveries, and deaths. The insights underline the need for targeted policy interventions that bolster support for vulnerable groups, enhance economic resilience through job creation and social grants, and improve public infrastructure to reduce overcrowding and ensure equitable access to basic utilities. Methods: The study utilised data amalgamated by the National Policy Data Observatory (NPDO), which synthesizes information from the National COVID-19 outcomes surveillance spanning from November 2019 to July 2022 and socioeconomic indicator data from the 2021 General Household Survey (GHS) . The study used 12 socioeconomic indicators across 53 districts to create four analytically backed domains of socioeconomic standing namely: sociodemographic index (average number of persons per household, proportion of female- headed households, and age dependency ratio and proportion of individuals over the age of 60), economic index (income, subsidised households, poverty and adult unemployment), infrastructural index (water, electricity, toilets and proportion of informal dwellings) and overall district socioeconomic index using the Principal Component Analysis technique. The relationship between these indices with COVID-19 cases, recoveries, and fatalities were further investigated using the Wagstaff concentration index of inequality and concentration curves. Results: Using factor loadings attained from PCA, we grouped our variables into the 3 domains of socioeconomic standing, validating the intersectional framework conceptualised in the study. The analysis revealed that when districts were ranked by the sociodemographic index, COVID-19 outcomes showed a pro-poor distribution across cases, recoveries, and fatalities, with concentration indices of -0.27 (p=0.01), -0.27 (p=0.01), and -0.16 (p=0.08) respectively. Groups experiencing greater sociodemographic deprivation, including those in complex households such as households with the elderly and female-headed households, suffered severe outcomes. The results showed a similar pattern with the economic index, with concentration indices of -0.22 (p=0.04), -0.21 (p=0.04), and -0.16 (p=0.07) for cases, recoveries, and mortalities respectively. This aligns with empirical literature where unemployment and lack of income exacerbated poor outcomes. The infrastructural index showed a pro-rich distribution with the concentration curve below the line of equality and concentration indices of +0.34 (p=0.0005), +0.34 (p=0.0006), and +0.30 (p=0.005) for cases, recoveries, and mortalities respectively. This along with evidence of dense population in metropolitans such as city of Johannesburg, eThekwini and City of Cape Town suggests that urbanization and subsequent overcrowding in well-developed areas increased the risk of spreading infection and worsening COVID-19 outcomes, supporting the narrative of calling COVID-19 the urban disease. Finally, the multidimensional SES index produced an overall pro-poor distribution with the concentration curve lying above the line of equality and concentration indices of -0.28 (p=0.01), -0.27 (p=0.01), and -0.20 (p=0.02) for cases, recoveries, and mortalities respectively. Using the sociodemographic, economic, and infrastructural indices, the analysis provided a statistically significant description of inequality in cases and recoveries but not in mortalities. Conclusion: The research provides compelling evidence of a 'social gradient' in health at the district level in South Africa. The results clearly demonstrate that poor socioeconomic status, as indicated by our broad multidimensional SES index, exacerbates negative health outcomes, with the main drivers being sociodemographic characteristics and economic deprivation. This indicates potential pressure points that policymakers can focus on.
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    The Effect of Covid-19 on the Probability of Default of South African Firms Listed on the Johannesburg Stock Exchange (JSE)
    (2021) Zille, Nicholas Wolf; Holman, Glen
    The aim of this study is to quantify and investigate the effect of the Covid-19 pandemic on non-financial South African firms listed on the Johannesburg Stock Exchange. The study implemented the Merton (1974) model on the 59 largest non-financial firms and calculated the probability of default for each firm before the pandemic and during the pandemic as at each firm's financial year-end. The default probabilities are calculated predominantly from the value and volatility of firm equity. The results emphasize that the Covid-19 pandemic, on average, had a dramatic impact on the probability of default of publicly traded South African firms. The observed increase in default probability was found to be statistically significant at the 5% significance level.
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    The impact of COVID-19 on earnings management: evidence from South Africa
    (2025) Mpumpula, Asanda; De Jesus, Carlos
    This study aims to determine whether the COVID-19 pandemic impacted the earnings management practices of South African firms and various industries by assessing the quality of total accruals. The study used discretionary accruals as a proxy for the magnitude of earnings management activities, estimated using the Modified Jones Model adapted by Kothari et al. (2005). 2016 to 2019 was deemed the pre-crisis period, while 2020 to 2022 was deemed the crisis period. The discretionary accruals of a sample of 159 Johannesburg Stock Exchange-listed firms were observed to determine the impact of COVID-19 on earnings management. Further, due to how different the impact of COVID-19 and the lockdown protocols were on the various industries, earnings management practices across the industries were observed. The findings suggest that COVID-19 had a significant impact on earnings management. Firms were found to engage in income- decreasing discretionary accruals during the crises. Further, the industry analysis suggests that the impact of COVID-19 on the industries observed was not symmetrical. A statistically significant increase in income-decreasing discretionary accruals was observed in basic metals, consumer discretionary and the technology industry. Consumer staples, health care and the telecommunications industry that were deemed to provide essential services during the pandemic were found to have increased their discretionary accruals and utilised income-decreasing accruals; however, the difference between pre- crisis and crisis-period discretionary accruals is not statistically significant. The study results also found that the energy and industrials industry decreased their discretionary accruals and improved the quality of accruals reported during the pandemic. This study adds to the limited research on earnings management in South Africa, an emerging market with characteristics of a developed country. This study may be useful for standard setters in their mandate to improve reporting standards and thus the quality of financial reports, investors seeking to value companies accurately, and regulators of financial statements concerned with the quality of financial reports in South Africa, such as the JSE and the South African Institute of Chartered Accountants.
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    Women artisanal miners in the Gold Mining industry of Bondo Sub-County, Western Kenya and their navigation of their productive and reproductive labour during the COVID-19 pandemic during 2020
    (2025) Yieke, Tess; Benya, Asanda
    The COVID-19 pandemic and related restrictions profoundly impacted Africa's artisanal mining sector, leading to operational disruptions, market closures, health issues, security concerns, and increased economic vulnerabilities. Plummeting mineral prices exacerbated challenges, deepening poverty among artisanal miners. The pandemic heightened their precarious conditions, leaving them more vulnerable to economic shocks with limited access to resources and stability. Despite extensive research on the pandemic's impact on artisanal miners, few studies examine it through a gendered lens. Gender inequalities in mineral-rich developing nations intensified during the pandemic, disproportionately affecting women. The limited literature on the subject indicates reduced working hours and income, restricted access to essential resources, heightened gender- based violence, and an increased burden of unpaid reproductive labour for women due to COVID-19 related measures. This study explored the challenges faced by women artisanal miners during the pandemic and their coping mechanisms. Ten women from Ndira Market and Ka-June mines in Bondo Sub-County, Western Kenya, were interviewed. Using the feminist economic conceptual framework, the analysis revealed productive labour challenges, such as reduced working hours and declining gold prices, and unpaid reproductive labour challenges, including increased living costs and inadequate support. Coping mechanisms involved bribery, alternative employment, seeking informal loans, prioritizing essential items, bringing children to the mines, and receiving childcare assistance from family and community members. These findings underscore a central argument within this thesis: women artisanal miners play an indispensable role in artisanal mining communities. The socio-economic crisis triggered by the COVID-19 pandemic underscores their significance, highlighting their crucial contributions to sustaining the local artisanal mining industry through their mining activities, and supporting the broader artisanal mining community through their unpaid social reproductive labour within their households. Consequently, supporting and uplifting women artisanal miners can catalyse overall improvements in the industry and enhance the community's well-being.