*Electronic Theses and Dissertations (Masters/MBA)

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Impact of oil price shocks on stock returns: evidence from selected Southeast Asian economies
(2017) Siddiqui, Ammar Ahmed
This paper investigates the impact of oil price shocks on stock market returns in selected Southeast Asian countries. We selected five countries, those are Indonesia, Singapore, Malaysia Thailand and Philippine. We employ autoregressive distributed lag model (ARDL) and VECM model in the analysis. We model both positive oil price shock and negative oil price shock. We find that the real Brent price is positively correlated with all the stock markets in the selected countries. The results of ARDL model indicate that positive oil price shock exhibits a negative impact on the stock market returns while lag one negative oil price shock exhibits a positive impact on the stock market returns in the short run. However, only Indonesia and Singapore exhibit a significant response to positive and negative oil shocks in the ARDL model. The cointegration analysis indicates a long run causal relationship from oil price to stock market returns for Malaysia and Singapore. This result is confirmed by the error correction model with significant and negative but low speed of adjustment.
The influence of social media on purchase intention, brand awareness, and brand loyalty: a focus on customers’ engagement with brands on the platforms
(2018) Nyatlo, Mmasetena Rahab
The internet has transformed the way people communicate, it has allowed people and brands to communicate beyond geographic and time restrictions. The internet has introduced with it social media, which is a new way that brands and customers communicate, share ideas and exchange information. These interactions have a weighty effect on marketing strategies, therefore social media marketing has become critical for businesses. Through these interactions brands can gauge customer’s attitudes towards the brand’s different offerings. Understanding customer attitudes is an important part to knowing the customers’ buying decision process. Currently new businesses in South Africa mostly fail within a few years of operating. Some of the reasons leading to failure include access to markets, poor marketing, and lack of funding. Social media is a channel which businesses can use to access markets and market their offering as these platforms boast large number of potential customers. These customers are every business’ most important asset and revenue source which assist SMEs in their growth. Therefore, SMEs need to understand how their engagement with customers influences their attitudes towards them as this contributes towards their growth. The purpose of this research is to evaluate customers’ attitudes by understanding how customer engagement with SMEs on social media influences brand loyalty, purchase intention, and brand awareness which will aid in venture growth and in turn economic growth. The study followed a quantitative and positivist method. A survey was distributed through email and social media platforms to existing and potential customers who have a presence on the platforms to collect data, and the study achieved a 38% response rate. The study revealed positive customer’s attitudes towards SMEs that operate on social media platforms. These findings contribute towards the knowledge of SME growth and social media
An application of goal programming model to a bank balance sheet management
(2019) Chiwandire, Denise D M
The research presented the application of a goal programming model to the balance sheet management of South African Banks in segmented markets based on multiple goals such as asset accumulation, total liability, shareholders wealth, profitability, earnings and total goal achievement. The significance of the study can measure the effectiveness of policy decisions and plan future investments effectively. The model determined the optimal structure of the balance sheet based on the fulfilment of strategic objectives. Data collected from annual financial reports covered the period 2011 to 2019. The solutions showed the achievement of all goals and possible improvements in target values for optimization.
Assessing digital transformation within a South African mining firm
(2019) Benzane, Mahene Patrice
South Africa is still one of the top global producers of various mineral commodities, including gold, coal, platinum, palladium, manganese, titanium, and uranium. The mining industry contributes about 8% to the GDP of South Africa, and it used to be a dominant sector in the past. This industry is known to be a labour-intensive sector with little application of the digital technologies which many industries that were born after the boom of mining in South Africa are currently using. The recent example is the increasing depth of gold which tends to require technology interventions to access these resources where it is not feasible for physical humankind intervention, and this shows the need to transform the mines digitally. The effects of various digital technologies in the mining industry due to the Fourth Industrial Revolution (4IR) phenomenon means that mining organisations can mine smarter, improve safety, reduce cost, develop new insights from their current operation, and contribute towards the sustainable economic and social development of the country. However, the required level of digital maturity, the applicable digital transformation model in terms of what to digitally transform within the mining value chain, as well as understanding the mechanism required to drive maximum adoption and successful implementation of these digital technologies across all levels of the organisation remains unclear and challenging. In a quest to address these, a qualitative research strategy was selected as a means of getting to understand what needs to be digitally transformed in the mining value chain, this would then help identify an applicable Digital Transformation Framework for a mining firm willing to embark on this transformation journey. This qualitative approach is further used in the research to unpack the effective ways to engage various stakeholders within the organisation to help enable successful implementation and adoption of these digital technology initiatives. To do this, a single case study method was utilised and Company X was identified as an ideal mining company in which to conduct the study. Company X has embarked on a digital transformation journey which they run through an internal initiative called Digital@Comapany X, and they have been making a buzz across the South African mining industry as the pioneers in adopting and embracing digitisation in mining, hence they were selected for this study. Based on the reviewed literature, the research made several propositions. One of the propositions indicated that the digital transformation of the internal processes within the mining value chain is the key area of focus for a South African mining firm. The key findings from this case showed that 100% of the interviewed executives, junior managers, middle managers, and senior managers believe that the introduction of the digital technologies within Company X will lead to worker enablement through digitised processes that will eventually improve decision making by using the power of visualised data. Therefore, according to the first proposition made, it is evident from the research that digitalisation of the internal process within the mining value chain is an important area of focus. In summary, the findings showed the following areas as what the digital transformation initiative aims to transform: Digital Capability, Human Resources, Worker Enablement, Culture, Customer Experience, Process Digitisation, Unified Data, and Performance Management. 50% of the executives indicated the importance of customer experience in their digital transformation journey. 65 % of the respondents indicated the importance of unified data by having integrated operations centres, whereas 36% mentioned performance management as the key area of focus, and only 14% of the respondents mentioned IT infrastructure to enhance digital capability as another focus area for the internal digital transformation journey. According to the reviewed literature, it was further proposed that the Digital Piano framework is the most appropriate or relevant transformation model to be used by Company X, and can be further tested by mining firms intending to embark on a digital transformation journey. The aim was to test this proposition by comparing what to transform in practice according to Digital@Company X roadmap to what other various theoretical and conceptual frameworks focus on in terms of the digital transformation process. The findings were not entirely in agreement with the proposition made. Based on what is currently done at Company X, the combination of these following frameworks in the context of the mining firm proves to be more appropriate than using a specific model: Digital Piano framework, Digital Orchestra Framework, Six Keys to Success Framework, Digital Enterprise Integrative Management Framework, Digital Transformation Framework, by Corver and Elkhuizen, The Digital Reinvention Framework, and the Digital Innovation Strategy Framework. Therefore, choosing a single framework from the literature to apply to the mine as a relevant digital transformation strategy may have a dire digital transformation process or journey that leads to poor implementation, lack of adoption and wastage of resources with no realisation of intended digital benefits if it does not holistically cover various aspects of the mine or organisation as a whole. The researcher named the combination of these frameworks an Integrated Digital Transformation Framework for Mining (IDTFM). The last proposition made in this research was that to embark on the digital transformation journey in the mining sector in the 4IR era requires the co-operation and participation of all stakeholders to ensure the successful implementation and adoption of digital technology initiatives. According to the findings, the following themes in terms of what may or may not lead to success emerged: Poor Change Management, Unclear Vision, Value Realisation, Stakeholder Involvement, and Ease of Use and Adoption. According to the findings gathered from the 14 respondents, it is evident that there is a clear understanding of what could lead to the failure of digital technology interventions within Company X. Respondents further echoed the importance of change management, vision, stakeholder engagement, the value brought by these technologies as well as the importance of Ease of use to drive adoption. The managers have a strong interest in the practicality of any IT system implemented to drive productivity and efficiency, and the ease of use of the system is an important factor for them as key stakeholders that need to drive these initiatives at the operations. 80% of all the respondents emphasised on the ease of use. 57% indicated the importance of stakeholder involvement, and further findings showed the significance of good change management is one of the driving factors for successful implementation and adoption. In addition to these findings, one of the two executives interviewed highlighted the importance of everyone understanding the vision of the company. Therefore, the third proposition is validated through the research findings and literature that any lack of effective stakeholder engagement when pursuing a digital transformation roadmap or efforts within a mining firm will lead to a lack of adoption and ineffective implementation. To link some of the findings to the literature, the Diffusion of Innovations Theory developed by E.M. Rogers in 1962, states that Innovation, communication channels, time, and social system are the four key components of the diffusion of innovations, and when promoting innovation to a target population, it is important to understand the characteristics of the target population that will help or hinder the adoption of the innovation. The Technology Acceptance Model (TAM) theoretical framework helps explain the usage of technology within a specific context, and the usage could either be the ease of use or the usefulness of that specific technology as perceived by the users (Venkatesh and Bala, 2008). Therefore, based on the 80% of the respondents believing that the ease of use of these technologies and the perceived usefulness in terms of practical application will lead to easier adoption indicates that TAM is accurate in the case of Company X. Therefore, the research further recommends the use and applications of these theories when embarking on the digital transformation journey of a mine. Further to these findings, the Diffusion of Innovations Theory has been used successfully in many industries including communication, agriculture, public health, criminal justice, social work, and marketing, therefore it can also be applied in a case of a mining firm to ensure adoption of innovations brought in the form of digital technology implementations. TAM is also applicable in the context of a mining firm and must be utilised. With the support of literature and the findings of the research, It is further recommended that the leadership team in a mining firm must create and follow an integrated digital transformation compass (Westerman, Bonnet & McAfee, 2014).
Changes in consumer behaviour of urban black emerging middle-class consumers in South Africa, as a result of rural to urban migration
(2019-03) Malesa, Nnaniki
Multinational Corporations (MNCs) are facing the scenario that established markets are becoming saturated. They have consequently identified that pursuing entry in emerging markets will contribute to the growth of their respective brands. In turn, the development of emerging market strategies adapted to reflect understanding and localisation of the consumer behaviour habits found within these emerging markets, has become a priority for them. It is within this context that this research study was undertaken. The purpose of this research study was to investigate the changes in consumer behaviour of black emerging class consumers when they migrate from rural areas within SA to urban areas of Gauteng. A qualitative research methodology was pursued with three focus groups to understand the changes in their consumer behaviour across four key themes, namely: Circular Migrators and Remittance providers to rural dwellers; dietary consumption habits; purchase decision making and shopping habits; as well as appreciation for high-value products. Findings from this research study highlighted that black emerging middle-class consumers who migrated from rural areas of South Africa to urban areas of Gauteng remain circular migrators and do not see Gauteng as a permanent establishment for them. In addition, upon migrating to urban areas of Gauteng, these consumers continued to keep in contact with their rural-based relatives. These urban-based participants confirmed that they remitted groceries, money as well as furniture to their rural-based relatives. Lastly, the research findings confirmed that, upon migrating from rural areas to urban areas of Gauteng, the consumer behaviour habits of these participants changed. Their dietary consumption habits, their decision-making shopping habits, as well as their grocery shopping purchase habits reflected changes in their consumer behaviour patterns. In addition, it was identified in this study that the dietary consumption behaviour, decisionmaking shopping habits, as well as grocery shopping purchase habits of the rural-based relatives also changed. This was as a result of being influenced by the changing consumer behaviour habits of the urban-based participants who remitted contributions to them regularly. The findings of this research report have practical implications when pursuing strategies in emerging markets such as South Africa. In ensuring that the strategies deployed have factored an understanding of the local market and placing the consumers’ interests at heart, three key areas are proposed for consideration when developing emerging market strategies in this rural-urban context. Firstly, the decreasing rural-urban gap eminent in the changes to dietary consumption habits and grocery purchases that are similar between the two areas needs consideration. Secondly, the increasing “urban poverty”, contributed to by the limited access of basic services to the peri-urban communities, must be recognized. Lastly, the role aspiration plays in driving desire and subsequent acquisition of high-valued products by emerging middle-class consumers, is important.
The role of leadership in digital transformation in the financial services sector
(2020) Gcelu, Nikitha Gita
The financial services sector falls within the top three industries that are most susceptible to digital disruption globally. The rise in new digital technologies has transformed business models and how organisations operate – making digital transformation and leadership a key imperative for financial services organisations. Additionally, the recent global pandemic (COVID-19) has accelerated the pace of digital transformation for many organisations and has resulted in virtual work environments; where leaders and subordinates must use digital technologies to achieve business objectives. The role of leadership is crucial to digital transformation in financial services organisations. Leaders, both globally and in South Africa, are experiencing similar challenges – and are tasked with the responsibility of finding effective leadership strategies that will ensure that their businesses successfully navigate the complexities brought about by new digital technologies. However, most financial service organisations have struggled to build up the necessary leadership capabilities to aid their organisations effectively in the digital transformation process. This study conducts a detailed literature review on traditional leadership types and introduces the concepts of e-leadership (which considers traditional leadership types and digital factors on leadership). Additionally, the literature review provides a brief overview of digital transformation factors. The study provides insights on factors accounting for the shortage in leadership trends in financial services, the different technology trends in financial services, and leadership strategies for digital transformation in financial services. Both primary and secondary data were analysed to gain these insights – with the analysis based on the thematic approach. The insights show that technology factors have changed work-life, communication, talent management, and the organisation culture. Furthermore, leaders in financial services organisations have to deploy new leadership strategies to effectively lead digital transformation – with a key focus being on building digital capabilities, digital leadership, embracing flexibility, and creating a diverse workforce.
The effects of psychosocial factors on healthy lifestyle choices: the moderating role of normative beliefs and health consciousness
(2020) Mokgethi, Kgaiso
Noncommunicable diseases (NCDs) negatively impact people's lives worldwide, particularly in developing economies, and South Africa is no exception. Consumers' lifestyle decisions, which necessarily impact their well-being, play a significant role in NCDs. As a result, this study is predominantly driven by the health industry. This research supports the marketing fraternity in understanding the significant variables that influence consumer behaviour in relation to healthy lifestyles. The researcher has observed that health-oriented brands play a minimal role than brands that promote activities such as consuming fast foods, alcohol, and smoking. The purpose of this study was to investigate how key psychosocial factors influence lifestyle choices. The focus is on healthy living choices amongst South Africans. The key factors of this study include identity-based motivations, self-efficacy, consumer attitude, and consumer knowledge. In addition, the susceptibility to normative influence and health consciousness serves as interaction factors and the link between consumers’ healthy lifestyle attitudes and purchase intentions. An online survey questionnaire was conducted, and the data was collected through social media platforms, with a total of 493 respondents. The study tested seven hypotheses using Structural Equation Modelling. The research results confirmed that five out of the seven hypotheses were significant. The study results indicate that self-efficacy, a favourable attitude, and identity-based motivation have a significant relationship with healthy lifestyle choices. Knowledge was found to be insignificant. Previous studies confirm that for knowledge to have a significant relationship, it needs to be paired with appropriate interventions. The study also indicated that normative beliefs positively influenced consumer lifestyle choices and purchase intentions, whereas health iii consciousness as a moderating factor was insignificant. The findings will significantly contribute to the literature and theoretical knowledge on healthy lifestyle choices within an emerging market
The impact of Internal branding on employees’ brand supporting behaviour in South Africa
(2020) Taku, Basetsana
The rapid shift in the financial services industry, triggered by the continuous changes in customer behaviour, has brought so much competition for both loyal customers and employees. In order to understad the specific needs of the customer, businesses have to invest in training and educating their employees about their brands. The purpose of this study was to investigate the relationship between internal branding and brand supporting behaviour of financial services employees in South Africa. The study investigated the relationship between internal branding and brand identification, brand commitment, brand awareness within the financial services sector in a South African context, and how these ultimately influences employee brand supporting behaviour. The research methodology employed was a quantitative study, with respondents from one of the 5 major banks in South Africa. Study participants were selected through a combination of purposive and random (convenience) sampling. A structured questionnaire was the primary data collection method. A total of 241 responses were received and analysed using the Structural Equation modelling technique and Correlation analysis with descriptive statistics. The correlations between the latent and exogenous variables were recorded as high suggesting strong relationships between the tested variables. The findings of the study supported all the six hypotheses formulated, showing a positive and significant relationship between Internal Branding and Brand Identification, Brand Commitment and Brand awareness. The study also concluded that from the relationship between Brand Identification, Brand Commitment, Brand awareness and Brand supporting behaviour is significant and positive. The relationship between the demographic variable, gender and Brand Supporting Behaviour was also tested using the independent-samples ttest which indicated that the group means between male and female participants are not statistically different on all the variables under study
Enabling capabilities and the performance of SME e-retailers in South Africa
(2020) Maphanzela, Dineo
The continuous evolution of the retailing industry, consumer behaviour and the advent of the Fourth Industrial Revolution have resulted in a shift towards electronic retailing (e-retailing). Although the South African e-retail sector is in its nascent phase, multiple retail Small and Micro Enterprises (SMEs) have embraced the digital economy through e-retailing. This research explores the fundamental capabilities required to enable SME e-retailers for the purposes of informing South African SME e-retailers, the State and current academic literature. SMEs steer economic development in South Africa, majority of the early-stage entrepreneurs in South Africa who operate SMEs are found within the wholesale and retail sector. These wholesale/retail SMEs provide employment and generally improve the livelihoods of South African citizens through their contributions. The high failure rate of SMEs is to the detriment of the South African economy and the livelihoods of its citizens. SMEs are said to fail because of funding and access to markets, e-retailing provides a cost-effective solution for these SMEs. This research aims to aid retail SMEs that have embraced or are embracing the digital economy by providing insights into e-retailing, ensuring their sustainability. The main research question that will be addressed: “What are the enabling capabilities that lead to a successful e-retail SME in South Africa?” Purpose and aim of the study: the aim of this study is to identify enabling capabilities that lead to SME e-retailing success. The purpose of this study is to assist retailers embarking on their e-retail journey by providing key insights on which capabilities are essential and those that could require additional resources allocated them to ensure their venture is a success. This study also aims to provide State policymakers with insights on areas which require additional support when developing policies and State interventions for SMEs, especially e-retail SMEs. This study utilised a post-positivism paradigm, and the research is quantitative. A cross-sectional methodological approach was deployed through a closed question survey, and the study collected primary data from e-retail SMEs within South Africa. The main findings that were deciphered from the study, a negative relationship is demonstrated between operational capabilities and the financial performance of SME e-retailers. Marketing capabilities and technological capabilities exhibited a positive relationship however the relationship was not significant. E-retailers should elect an e-marketplace approach to e-retailing instead of establishing an online storefront in silos because e-marketplaces provide significantly better financial rewards. Social commerce takes precedence in South Africas e-retail market due to the high level of mobile penetration in South Africa. The main inhibitors of growth for the e-retail market in South Africa are access to funding, infrastructure (financial technology and Information and Communications Technology -ICT-), lack of innovation, logistical issues (high delivery costs, geographical dispersion and many other issues) and the digital divide (caused by affordability, digital literacy and accessibility of ICT devices). The sustainability of an e-retail SME is dependent on consistently providing exceptional customer experiences. Therefore, to ensure consistency, e-retail SMEs should invest in capabilities that integrate well into their e-retail ecosystem. The South African government has to address issues related to e-retailing laws, taxation, infrastructure, funding and international trade to improve the South African e-retail ecosystem in order for e-retailing to become profitable in South Africa. E-retailing offers a solution that could alleviate many socio-economic issues through the employment opportunities it provides and its economic contributions. E-retailing could also mitigate the high failure rate of retail SMEs resulting in more significant economic development. This research provides practical solutions that will support South African SME e-retailers and aid in ensuring their sustainability.
Employing the theory of planned behaviour to determine pharmacists’ entrepreneurial intentions in South Africa
(2020) Sigauke, Kudakwashe
Pharmacy entrepreneurship has a role to play in addressing inequitable access to health and unemployment through the creation of new pharmacy ventures. Despite the regulatory changes of pharmacy ownership, which opened the market to laypeople rural areas and townships have remained with limited access to pharmaceutical services. A possible cause of this is the decline of creation of new independent community pharmacies which are traditionally known for their willingness to be established across demographics. In South Africa, little is known about employed pharmacists' intentions to transition from being employees to business owners who can potentially address the persistent inadequate pharmaceutical care service. Drawing on the Theory of Planned Behaviour, the study explores the influence of perceived environmental hostility on the entrepreneurial motivations and intentions of employed pharmacists in South Africa. Primary data of the quantitative and cross-sectional study was collected using a self-administered questionnaire distributed electronically to pharmacists with online social media profiles. Four hundred forty-three pharmacists participated in this study, with the final sample consisting of 360 responses. Data analysis included correlational analysis, hierarchical multiple regression, and parallel mediation analysis. The empirical findings of the study revealed that environmental hostility had an insignificant direct effect on entrepreneurial intentions. Instead, environmental hostility exerted a significant indirect effect on entrepreneurial intentions by negatively influencing the three motivational antecedents of entrepreneurial intentions in the model: Attitude towards behaviour, bootstrapping and perceived behavioural control. The results support the findings of previous research that environmental influences such as hostility indirectly impact entrepreneurial intent by the mediating effects of the motivational antecedents. The study adds to the existing body of research that highlights the salient role individual and environmental factors play in influencing the preconception phase of entrepreneurship, particularly in under-researched countries such as South Africa. Additionally, the study adds to the existing body of work on entrepreneurial intentions by incorporating a working adult population of health professionals, as most studies on entrepreneurial intentions have targeted students. The information gathered in this research helps inform policy on how to enhance the entrepreneurial participation of pharmacists under the broader context of increasing access to pharmaceutical services in South Africa.
Efficiency of emerging forex markets during the American and European quantitative easing periods
(2020) Stevens, Darion
This research report investigated the efficiency of BRICS country foreign exchange markets during the American and European Quantitative Easing (QE) Periods. Market efficiency tests included autocorrelation, unit root, variance ratio, co-integration, and uncovered interest parity (UIP) testing. UIP tests indicated that the currency pairs investigated are not strong form efficient and that market efficiency diminished for US cross pairs during QE. The research also highlights changes in efficiency state prior to and post QE for the cross-pairs studied.
Evaluating the performance of active and passive investment funds in South Africa
(2020) Swartz, Shaun
This thesis addresses the core debate of active and passive funds in the local and global environment. A key component is whether active managers can use their experience and knowledge to outperform the market. The research makes use of the elements of classical economic theory to formulate a conceptual model. The conceptual model will assist in the understanding of the complexities these fund managers face. Rathbones (2019) states that “the debate over the respective merits and shortcomings of active and passive investment management may have begun several decades ago, but it remains one of the most divisive issues in the world of investing" . This report will investigate "the ability (or not) of [whether] active managers [can] beat their underlying benchmarks and whether investors should simply abandon active strategies for passive investments" (Rathbones, 2019). Rathbones (2019) believes that this debate is pivotal for an investor "when formulating an investment strategy" (Rathbones, 2019). To bridge the theoretical and practical elements of this topic, a simple systematic research was created, which includes quantitative and qualitative factors. This research allows one to understand the dynamics of the hedge fund world. An analysis and discussion about the various components which contribute to a fund’s strategy form the preamble to this paper. An analysis of the various key elements which contribute to a fund’s success follows, including analytical examples of funds' past performances and what key factors contributed to these funds. The key funds selected are various active and passive funds which are listed later in the paper.
Evaluating digital solutions in a retail and business bank: a South African case study
(2020) Meyer, Jacobus Nicolaas
This study aimed to investigate evaluation and success factors to consider for the investment in digital solutions within a retail and business bank by way of a case study of a South African bank. Banking institutions are challenged by rapid technological changes and, hence, depend on digital solutions for competitiveness. Digital solutions are complex and multi-dimensional creating challenges for ascertaining success. The study provides insight into factors which banking institutions can consider to evaluate investments in digital solutions and corresponding success measures. The study used a qualitative method and the analysis was based on a thematic approach. Banking institutions look further than just traditional investment evaluation methods. Their approach take into account the strategic alignment of the initiative to the organisational strategy, financial considerations and non-financial considerations. These include arbitrary factors such as customer take-up rates, conversion rates and the ability to grow new markets and create new products. The findings highlighted a need for business to be able to research ideas for success measures. Success measures are significantly impacted by project success, and the findings presented factors that impact projects success and failures. There is a need for an alternative approach within the bank to evaluate investments in digital solutions and increase the probability of success for respective investments.
Digital platform skills requirements for SMMEs and startups: a South African perspective
(2020) Noqayi, Aluzuko
The Fourth Industrial Revolution has enabled new business models, automated processes, and streamlined operations. Digital platforms form part of the technological solutions that disrupt existing business models; they have made alternative streams for companies that exist online. However, with these disruptions of business models, there is a need for new skills too. This study investigated the skills needed by digital entrepreneurs to effectively lead, operate, and manage digital platform SMMEs in the South African context. A qualitative research study using semi-structured interviews was conducted with a sample group of 12 participants. The group was made up of CEOs, CIOs, Solution Managers and Business Managers of digital platform SMMEs in South Africa. A thematic analysis technique was used to identify themes in the data analysis. The study's findings were that the digital platforms are complex and lack consistent definition and conceptualisation between their IT and commercial functionality. This affects the skills identified as essential in literature as it forms a bias based on whether the focus is IT or commerce. Secondly, the study found that a mix of lower-order and higher-order skills were essential for digital entrepreneurs. These ranged from technical, human, and conceptual skills to leadership and business skills. Lastly, the study found that digital entrepreneurs have several roles in their ecosystem and are multi-skilled. They are faced with challenges that stretch their capacity and adaptability, and they use their skill to control and influence the future. This study provided an adapted skills model framework for digital platform skills. This model can be used to informing resourcing, upskilling, bridging managerial gaps, business development decisions that enable SMMEs to participate competitively in the emerging digital economy.
Asset allocation restrictions and pension funds’ performance in Southern Africa
(2020) Mhanda, Mirjam
The relationship between asset allocation restrictions and performance of pension funds is critical in determining whether asset allocations as selected by fund managers of pension schemes are critical in influencing the financial performance of pension funds resulting in better retirement benefits for pensioners. The main objective of this study was to determine the effect of assets allocation restrictions on the financial performance of pension schemes. Governments have an obligation towards the pension funds in safeguarding the returns for the members, particularly when the contributions are obligatory. This obligation has been the reason used to justify stringent regulations of pension funds’ portfolios, the funds management industry’s structure and investment returns but these restrictions have a cost. This research was conducted through a descriptive survey and utilised Primary data given by pension funds managers on monkey survey platform. 20 fund managers from three countries (Zimbabwe, Namibia and South Africa) were used. Survey Monkey tool was used to collect the data and Social Package for Social Science (SPSS) software was used to analyse data. Secondary data was also used in this study which was collected from retirement benefit fund financial reports, journals, newspaper articles, investment reports. The study revealed that there is negative linear correlation between -asset allocation restrictions and the performance of pension funds. The most negative effect of restrictions was felt on the organization’s ability to be innovative, the organization’s ability to diversify risk and the organisations and investment opportunities for pension funds. As restrictions increased, innovation of pension funds decreased the most. The study recommended that quantitative restrictions should be replaced with prudent person rule to be implemented with corresponding strengthening of regulatory capability.
Afrocentric leadership coaching among Shona men in Zimbabwe
(2020) Mhlanga, Brian Ndabaningi
This study looks at the need for an African approach to leadership coaching. It aims to contribute towards a leadership coaching model that is Afrocentric or is framed around the African concept of “Ubuntu”. Leadership coaching is a profession that is widely practiced and yet has limited scientific theory. Practitioners on the African continent rely heavily on the Eurocentric philosophical approaches to leadership coaching without taking cognizance of cultural considerations among other things. Using the social identity theory, and a case study of Zimbabwe Shona male executives will be conducted on selected Shona cultural aspects on leadership and how gender, spirituality, socioeconomic and political factors have impacted on leadership coaching. The tools used for data collection included observations and interviews (semi-structured face-to-face). The target population comprised eight Shona male executives and four leadership coaches working in the provinces of Mashonaland East and West, Harare and Midlands, Zimbabwe. Data collected for this study is qualitative and was interpreted using QSRNVIVO in uncovering emerging themes, patterns and insights. The findings of the study reveal that the Shona traditional ways of healing are appropriate and can be integrated into western and modern leadership coaching. The study also established coaching in Zimbabwe among Shona men is perceived to be a western leadership development tool and fails to embrace African spiritual consciousness sufficiently. The study gives an understanding of how Shona men understand and experience leadership mastery revealing the need to accommodate some of the Shona aspects of culture to leadership coaching. Insights from this exploration will contribute towards the formulation of an Ubuntu Leadership Coaching model that could add value to leadership coaching not only in Zimbabwe but potentially across the continent.
Alternative finance: definition, sources and implications for the financial sector
(2020) Chabaya, Bothwell
The research will seek to highlight the sources of alternative finance and in the same vain highlight the structural problems of ‘’tainted intermediation’’ brought about as a result of the rise of Alternative Finance. It seeks to introduce a framework for regulatory thinking and approach in response to the emergence of alternative finance especially given that it is a new and developing phenomenon. The research will assist with further studies in the area of financial inclusion in the emerging economies as a result of alternative finance as well as the role and impact of alternative finance in the democratization of the financial sector. The study seeks to contribute in highlighting the main sources of alternative finances from the different types offered in the financial sector. It goes further to explore whether these sources of alternative finance result in reintermediation or disintermediation 15 answering the questions of who and what the intermediator is because of alternative finance. This exploration would highlight the problem of ‘’tainted intermediary’’, as well as lead to an introduction of how regulators and policymakers should frame their thought process and approach in the development of regulation governing the operations of new and alternative finance. Because alternative finance is a new and developing phenomenon the study will assist in further study of the area by the academic community from insights provided.
Capital adequacy of Basel III and bank profitability: a case of developing countries
(2020) Mochebelele, Mohau
This study examines the effects of bank capital adequacy and asset quality on banks’ profitability in developing countries. The study further examines whether there are significant differences in the levels of bank profitability in Africa versus other developing countries, and cross sectional 2018 data on 235 banks in 50 developing countries are used in an Ordinary Least Squares (OLS) regression analysis. Tier 1 Capital Ratio and 100% less the Impaired Loans Ratio are used as proxies for Capital Adequacy Ratio and Asset Quality respectively. Bank capitalisation and asset quality are found to have positive effects on profitability as measured by return on average assets (ROAA) in the sample of developing countries’ banks. These positive relationships are found to be consistent in the groups comprising all the sampled banks, as well as the relatively high and low capitalised banks. Moreover, we found that African banks higher ROAA measures except in instances where the banks have relatively low levels of capitalisation. Furthermore, bank capitalisation is found to be a positive determinant of bank profitability as measured by net interest margin (NIM); especially for banks that are relatively highly capitalised. Bank asset quality is found not to have any impact when profitability is measured as NIM. Based on the findings of this study, we recommend that the policies and bank regulations that enforce increased bank capital adequacy and bank asset quality levels. These policies can be implemented in conjunction with prescriptive methods to improve individual borrowers’ quality so as to curb the potential for bank disintermediation arising from financial exclusion.
The effects of entrepreneurial resources on the allocation of entrepreneurial effort in Gauteng SMME Sector
(2020) Mampuru, Alice Khantso
Past research looked at the contribution of the small business sector in economic development. Some literature suggested that the performance of this sector continued to face challenges that are attributable to SMME characteristics such as demographic profiles of individual entrepreneurs. Trivial research has focused on contextual issues affecting the SMMEs sector of South Africa. This research, therefore, took a closer look at the effects of entrepreneurial resources (context) on the allocation of entrepreneurial effort in an attempt to understand how these variables applied in South Africa's SMMEs sector. Using a quantitative approach, the study collected data from a sample of 206 SMME operators. Through empirical scrutiny, this study found that demographic profiles of entrepreneurs had a significant role in explaining the variance in the allocations of entrepreneurial effort. Taken with internal entrepreneurial resources, a modest yet significant variance was explained in the allocation of entrepreneurial effort. Empirical results, however, rejected the hypothesis that external resources negatively influenced the allocation of entrepreneurial effort. While a positive yet insignificant amount of variance in value creation could be explained by external entrepreneurial resources, a strong and significant variation in value appropriation was found to be associated with external resources. The study further found that resource combinations had a positive effect on the allocation of entrepreneurial effort. Policymakers can benefit significantly from this research in their efforts to formulate a policy that is indigenous to specific contexts. Practitioners can use the insights gained from this research to elucidate and measure entrepreneurial outcomes. This could improve the processes and mechanisms used in entrepreneurship ecosystem development. This study makes a unique and significant contribution to the ongoing debate about the role of context in the allocations of entrepreneurial effort. It further appreciates the significant contribution of Baumol’s Theory of Entrepreneurship allocations in explaining the phenomenon, making a unique contribution to the vast knowledge about contextual influences on the allocations of entrepreneurial effort.
Political risk and bank capital structure in emerging market economies
(2020) Mukwapatira, Arthur
This paper shows that banks play a crucial role (resource allocation) in the functioning of every economy, more so for developing economies where capital markets are not well developed and, in some cases, non-existent. Drawing from existing literature, we show that capital structure is an important determinant of bank performance and that political risk influences the choice of how much and what sort of debt banks employ. We show that heightened political risk increases the cost of debt, especially long-term debt thereby influencing the amount of employed debt versus equity, that is, capital structure. This paper shows that, relative to developed economies, developing economies experience more political risk. Another important finding is that, contrary to common belief, banks do rely on non-deposit debt to finance their activities, to an extent that, factors such as political risk, that affect the availability and cost of debt, directly impact banks’ decisions, performance and efficiency. We precisely explain how capital structure affects performance and demonstrate the exact channels through which political risk influences the debt-equity mix.

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