Browsing by Subject "Financial sector"

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    Open Access
    A day to bleed: exploring the effects of Zambia's Mother's Day policy on the representation of women in the financial sector
    (2025) Chirwa, Memory Bwalya; Daya, Preeya
    This study examined how Zambia's menstruation leave policy, locally referred to as Mother's Day, influences the recruitment and retention of women in the financial and insurance sectors. As the only African nation to formalise menstruation leave, Zambia provided a distinctive context to explore the operation of gender-specific workplace policies within postcolonial African organisational settings. The research drew on qualitative data from 32 interviews with employees and managers across four organisations, revealing several key findings. Firstly, organisational size significantly shaped implementation approaches, with large organisations employing bureaucratic processes, medium organisations adopting hybrid practices, and small organisations favouring Ubuntu-inspired community-oriented methods. Secondly, a leadership policy paradox emerged, where senior women often avoided using menstruation leave to safeguard their professional credibility, thereby perpetuating stigma around its use. Thirdly, varying levels of cultural integration were observed, ranging from surface-level adoption to deeply embedded practices that reflected local values. Women adopted different strategies to navigate the policy, balancing health needs with career aspirations. These strategies highlighted the complicated interplay between professional identity, organisational context, and cultural dynamics. While the policy aimed to support women's workplace participation, its impact on recruitment and retention was nuanced, particularly when compounded by other types of leave such as maternity, sick, and study leave. Implementation challenges were shaped by implicit biases, practical difficulties, and societal stigma. This research contributes to the nascent discourse on menstruation leave policies in the Global South by extending Acker's (1990, 2006) theory of gendered organisations to postcolonial African contexts and applying the social ecological model to workplace policy implementation. It offers practical recommendations for organisations, including the development of size appropriate implementation guidelines. The findings underscore the need for gender-specific policies to move beyond symbolic compliance, fostering genuine workplace equity.
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    Open Access
    The impact of FDI on economic growth in South Africa: Does the sector matter?
    (2024) Keleme, Mamontshi Gwendoline; Biekpe, Nicholas
    Foreign Direct Investment (FDI) is crucial for wealth-creating economic growth. Conceptually, FDI could bridge the investment gap and raise much-needed revenue for South Africa's financial requirements. However, much of the existing evidence on the effects of FDI on economic growth is at the macro level, with scant attention focused on the impact of FDI on economic growth at sector levels in South Africa. Consequently, this study aimed to examine the impact of agricultural, manufacturing, mining, construction, finance, and transport FDI on economic growth for the period 1993 to 2019 in South Africa. The study used panel data to estimate the relationship between the FDI-to-GDP ratio and economic growth. The Panel ARDL results revealed that the effect of sectoral FDI on national GDP was positive but insignificant in the long- and short-run. In addition, the results revealed that domestic investment had a negative and significant effect on growth in the long and short run, at 5% and 10% significant levels, respectively. In line with previous studies, all other variables, such as human capital, trade openness, and total consumption expenditure, had excepted signs in the short run. However, all variables were statistically significant in the long run and had unexpected signs. The short-run PMG result shows that FDI inflows into the construction, mining, and transport sectors had a significant positive relationship with the economic growth rate. In contrast, the FDI inflow in the agriculture, finance and manufacturing sectors had a significant negative relationship with economic growth.
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    Open Access
    The relationship between financial sector development and economic growth: the case of Zambia
    (2025) Mwachande, M'khuzo; Albertus, Rene
    This study examines the relationship between financial sector development and economic growth in Zambia, focusing on the roles of financial sector growth, bank efficiency, human capital, and institutional quality. Given Zambia's ongoing financial reforms, the research aims to fill the gap in understanding how these factors influence economic performance, particularly in the short and long term. The problem addressed by the study is the unclear impact of financial sector reforms on economic growth, despite substantial progress in financial sector development. The study's objectives were to estimate the short- and long-run relationships between financial sector development and economic growth, analyse the effect of bank efficiency on financial sector development, and explore the moderating influence of human capital and institutional quality. The results, derived from the ARDL model, indicate that financial sector development has a positive long-term relationship with economic growth, with no significant short-term effects. While improvements in bank efficiency were found to be positively associated with financial sector development in the long run, no substantial short-term impact was observed. Human capital and institutional quality did not show significant effects on economic growth or bank efficiency, suggesting that these areas need further development for full economic benefits. The study concludes that while financial sector development plays a critical role in driving long-term economic growth, improvements in human capital and institutional quality are necessary to enhance the sector's effectiveness. The findings offer valuable insights for policymakers seeking to strengthen Zambia's financial sector and achieve sustainable economic growth. Further research is recommended to explore the delayed effects of financial reforms, the role of financial technology, and the impact of institutional quality on economic outcomes.