Electronic Theses and Dissertations (Masters/MBA)
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Browsing Electronic Theses and Dissertations (Masters/MBA) by Faculty "Faculty of Commerce, Law and Management"
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Item A comparative analysis of the extent of investment banking In Africa versus other emerging markets(2020) Mphakathi, SolomonThis comparative study examines and explains investment banking levels in African emerging markets to the Asia Pacific counterparts. It examines how investment banking activities, especially the raising of capital, influence financial development. There is a paucity of studies conducted in these emerging markets to identify and contrast why their financial development levels are significantly different. African emerging markets appear to be lagging while the Asia Pacific emerging market economies are among the fastest-growing in the world. Finance theory underpins the framing of the study that demonstrates plausible relationship between financial development and economic growth. The methodological procedures followed a quantitative deductive approach through desktop and secondary data analysis to draw conclusions and make inferences. A multiple regression model was used to quantify the effects and extent to which investment banking contributes to financial development. GDP per capita and human development level relate positively to African countries' financial development level. The literature review also revealed some interesting and relevant facts about African economies and the challenges they face. Despite some marked growth in some African economies vis-a-vis others, important structural adjustments appear necessary prerequisites for enhancing Africa's financial and economic development more sustainably. Surprisingly, the empirical analysis identified no evidence of statistically significant relationship between the measure of level of investment banking (in this study) and financial development.Item A comparative analysis of transformation between local and global media and advertising agencies in South Africa(University of the Witswatersrand, Johannesburg, 2023) Ndinguri, KevinPoverty, unemployment and inequality among black people have been identified as key consequences of apartheid. To redress these, the Broad-Based Black Economic Empowerment Act was enacted. In the Media and Advertising industry in South Africa, the B-BBEE Act is translated through the Media and Communications Charter (MAC) which describes five elements, namely; management inclusion, skills development, responsible advertising, preferential procurement and socio-economic development. Most of the media industry studies on the compliance to the MAC charter focus on descriptions of how companies have applied the B-BBEE Act. This study’s specific objectives were to describe the nature of transformation in local media and advertising agencies, describe the nature of transformation in global media and advertising agencies and describe the effect of B-BBEE codes on local and global media and advertising agencies in South Africa. The study used a qualitative approach and an exploratory-descriptive design. The data collection tool was semi-structured interviews and data was collected through in-depth interviews. Data were analysed using thematic content analysis and presented in narrative format.The study found four themes that compare the transformation of local and global media and advertising agencies. The first theme is that transformation has taken place in local media agencies, the second is that few transformation initiatives have taken place in global media companies. The third theme is that B-BBEE codes have enabled local media companies to secure clients and the fourth theme is that B-BBEE codes have obligated global media agencies to transform the way they manage their businesses. In conclusion, global media and advertising agencies have been affected by transformation through increased diversity and change in the way they managed their businesses. Recommendations for future research should use a quantitative approach to enable the generalisation of findingsItem A comparative study on the Inflation-hedging properties of REITs and Common Stocks in South Africa(University of the Witwatersrand, Johannesburg, 2023-06) Maratela, Tsholofelo Keletso; Godspower-Akpomiemie, EuphemiaThe aim of this paper is to examine the ability of South African REITs and common stock to hedge against inflation in the short run from 2014 to 2022. Given the volatile economic environment that South Africa operates in, this poses a risk to the financial market. One of the major risks relates to inflation as it erodes real returns on investments, and this drives the need of gaining clarity on the inflation-hedging characteristics of assets in the stock market. Studies evaluating the inflation-hedging abilities of real estate and common stock present mixed results and the literature on this comparison is vast but largely excludes African countries. Moreover, the introduction of the REIT regime in South Africa in 2013 has created a new opportunity for real estate investment, which may have different implications for inflation hedging than traditional real estate. This paper adopts the Fama and Schwert approach, which is based on the Fisher model, to analyse the relationship between inflation and asset returns. The paper considers both actual inflation, measured by CPI, and expected and unexpected inflation, estimated by an ARIMA model. Using CPI as a proxy for actual inflation, a negative relationship is found between equities and inflation, and a positive relationship between REITs and inflation. These relationships were consistent for both the actual and the unexpected components of inflation. However, both asset classes exhibited a negative relationship with expected inflation. None of these regression results were statistically significant. Findings imply that neither SA Equities nor REITs can serve as reliable inflation hedges. However, the findings also imply that the relationship between inflation and the returns of these assets is nuanced and may depend on the nature of inflation (actual, expected, or unexpected). The findings will assist investors in making investment decisions, especially on protecting their wealth from excessive inflation.Item A comparison of investor attractiveness of oil and gas exploration and production regulatory environments and fiscal regimes in South Africa and Mozambique(2022) Sigedle, AnelisaThe petroleum industry plays an important role both in South Africa (SA) and Mozambique’s economies. It is one of the most important sources of energy and the largest single commodity in international trade. This study aimed to explore and compare the fiscal policies of Mozambique and SA in respect of the attractiveness of the fiscal regime used to attract investment to South Africa as opposed to Mozambique. The study explored the evolution of policies in both countries. This was done by comparing the fiscal regimes using a hypothetical case model for both countries, which applied different tax rates and state participation in an oil field project. Net present value (NPV) and internal rate of return (IRR) were used to evaluate the project success and how much the government or the contractor stands to make from the different fiscal regimes. The results showed that the project NPV is highest for the investor when the proposed Mineral Petroleum Resource Bill is applied than the current Mineral and Petroleum Resources Development Act (MPRDA) and the Petroleum Law in Mozambique. The results also showed that the proposed fiscal regime in SA will decrease the NPV for the investor, which makes it less attractive. The study showed that increased state participation has a greater impact on changing the contractor’s NPV. If these two governments want to encourage investors to continue exploration in their countries, there should be a balance between the profit that companies make and the revenue that the governments can collect. Thus, the policy recommendation for SA includes having negotiable royalties that promote investment in exploration and increase resources in oil and gas.Item A conceptual framework for the South African fintech ecosystem(2021) Masangwana, VuyelwaThe term ‘ecosystem’ is synonymous with multi-company dynamic teamwork and a new way of organised economic activities. It is thus important to understand the modes of interaction among the heterogeneous actors in the ecosystem. Financial Technology (FinTech) became prominent after the financial crisis when the financial industry's role in economic growth became a global concern. Many FinTech companies were established by bankers who found themselves unemployed after the financial crisis and found creative ways to use their skills in financial services. The purpose of FinTech companies in the economy became pre-eminent due to their ability to reduce economic risks and costs through innovation. It also became clear that FinTech would benefit the financial system due to its efficiency in addressing transaction costs, information asymmetry and in addressing issues of taxation. No market player can afford to operate in a silo in the digital age, as collaboration and partnerships are more critical than ever. According to the IMF website (2020), South Africa is a dual economy and has one of the highest inequality levels worldwide. According to a Business Technology article published in 2019, there is still an untapped consumer opportunity, as there are nearly 1.2 billion people globally who do not have bank accounts. South Africa has a large unbanked or underbanked population, estimated to be about 11 million people. A healthy FinTech ecosystem will develop in South Africa if there is an improvement on barriers to entry and a better understanding of the consumer. The study aimed to establish whether the existing FinTech ecosystem models are suitable for the South African context and identify any discrepancies and similarities between developed and developing world FinTech ecosystem models. Qualitative research in the form of semi-structured interviews was conducted. The sample included 12 executives from South Africa who represented entrepreneurs and start-ups, policymakers and financial institutions. The sampling technique was purposive in nature, and it was chosen because of its convenience. The study found that an additional function of funding must be explicitly specified as a government role in the South African context. In addition, the study revealed that in the South African sense, customers must be segmented further to include the unbanked and underbanked market. There is no existing FinTech ecosystem model for South Africa, and this study has developed a model that suits developing countries, specifically South Africa. Finally, the study ii uncovered that incubation and mentorship are essential components of the FinTech ecosystem in South Africa. The study will assist policymakers and other FinTech ecosystem players to gain a better understanding of their roles and how they can contribute and collaborate to make the FinTech ecosystem a success. The study will also aid policymakers and FinTech companies to focus on consumers and help policymakers consider some of the frustrations that participants have raised about policies. It will further assist them in FinTech policy formulation and amendment of the existing or the creation of new policies and legislation.Item A creative business venture to promote youth development in townships(University of the Witwatersrand, Johannesburg, 2022) Ngidi, Tebogo Lorna; Venter, RobertFrom the apartheid era up until the current state, unemployment has been a challenge in South Africa, especially amongst the young people in underprivileged townships (Hodge, 2009). To try and redress this, profit and non-profit sectors have undertaken a mixture of commercialised and social tasks to respond to changes that occur within the economic and social contexts (Social Enterprise Alliance , 2021). Such tasks include start-up businesses, interactive technologies and constantly evolving demographics that try to reach different aspects of life (Social Enterprise Alliance , 2021). It is through such convergences that social entrepreneurships were established. This social entrepreneurship project investigates whether a more creative business venture can assist with regards to promoting youth development in townships. According to Venter and Urban (2015), government support on its own is not enough to meet societal demands. This is more especially with regards to wicked problems that tend to be more complex to tackle due to its interlocked nature with other issues. Even though social entrepreneurship operates in diverse realms within the community, for the context of this research paper, this project investigates the introduction of newer and more creative business ventures within the Southwest Townships (SOWETO), a township that accommodates close to half of the Gauteng population. The report draws on the findings from reviewed literature and interviews with various stakeholders; entrepreneurs (both new and established), community support institutions and the local government.Item A customer communication application for organisations(University of the Witwatersrand, Johannesburg, 2022) Netangaheni, Shumani; Horvey, Sylvester SenyoThe aim of this study was to investigate the need for an integrated communication application dedicated to service communication for organizations as well as to determine factors that users consider important for the adoption of a new communication mobile application system. This study is important to the building of an application where resources are constrained and need to be traded off. The growth of social media has seen a rise in the need for consumers to instantly want access to information that is of importance to them. It is for this reason that communication has become a commodity that organizations invest in to build stronger relationships with their customers. However, it is not always easy for organizations to get it right as the communication methods they rely on may not be efficient or cost effective. It is for this reason that theoretical work was consulted to determine a need for a central communication application which various organizations can plug into to publish messages when they have service failure or recovery. The literature advised of a need but for a different problem. Primary data was collected from respondents using a survey where respondents were asked if they would use an integrated mobile application dedicated to communication when their service providers have service failure and when the service has recoveredItem A digital earthmoving equipment service platform to enhance customer aftermarket experience(University of the Witwatersrand, Johannesburg, 2023) Molele, Nnanna Reshoketswe; Horne, ReneeThe absorption of technology solutions has become more and more prevalent in the mining and construction industries. Mining and construction companies worldwide are implementing technology solutions as they seek to improve the safety, productivity, and profitability of their earthmoving operations. One of the most critical and capital intensive assets that these operations own and operate is their earthmoving equipment. The maintenance and repair of the equipment also contributes heavily to the operational expenditure of such operations (19% for large operations). It is critical for these operations for their equipment maintenance to be done in a timely manner, at the lowest possible cost, and with the highest possible level of quality so as to manage operational costs and reduce the impact of machine downtime on productivity. This business venture is based on a South African company that supplies earthmoving equipment to mining and construction companies in the Southern Africa market. The company not only supplies equipment, but also aftermarket solutions (parts and maintenance & repair services). In the past five financial years, the company has seen a decline in revenue from its service business where it sells technician labour to the mining and construction markets for equipment maintenance and repairs. Its customer net loyalty score is also sitting at an average of 32% in the same period. Customer loyalty has been negatively impacted by customer dissatisfaction with the organisation’s service quality, turnaround time, and communication, to name a few. The service business profitability has also been on a downward trend (14% in 2018 to 9% in 2022). Given the size of the organisation and the number of countries it operates in, this paper only focuses on the Zambia market where the company’s service business is currently seeing negative profitability trends and the lowest customer net loyalty score of 18%. In response to this business challenge, this paper focuses on using technology and third party equipment service providers (labour for maintenance and repairs) to propose a business model that will create shared stakeholder value. The business model seeks to address current customer challenges while improving the business profitability and making it more feasible for third partner service providers to partner with the organisation instead of operating as its competitorsItem A Digital Platform Car Wash Business(University of the Witwatersrand, Johannesburg, 2023) Ndlovu, CeboThe Car Wash Digital Platform (App) is a new business venture that addresses the problem of customers needing a convenient car wash service. This study was aimed at evaluating the viability of this new business venture. A customer discovery was conducted using an online survey to test if potential customers would be interested in such a service. The customer discovery was only made on the end user customer who would request the car wash service. The customer discovery for the service providers was not completed due to time limitations. This project's competitive advantages include the convenience it will provide to its clients in addition to fuel and mileage saved by not having to drive to a particular car wash facility. The time saved from driving to and from the car wash service provider is another competitive advantage of this business venture. The New Business Venture adopted the Lean Business Canvas as its business strategy model. The data from the online survey contributed to mapping the Lean Business Canvas. The marketing strategy was developed by using the marketing mix of customer segmentation, the 4 Ps of marketing, and Porter’s five forces model. The financial analyses indicated that the new business venture could break even in its first year of operation and generate an estimated Net Profit Margin of 40% by the fourth yearItem A framework for Mobile Application integrated with Biometric Authentication to Improve Youth participation in Elections(University of the Witswatersrand, Johannesburg, 2023) Botsime, Kealeboga Obed; Pellissier, Prof RenéThe purpose of this research study is to apply the technology acceptance framework to assess the prospect of using mobile application integrated with biometric authentication that might improve the South African’s youth participation in elections. The main objectives of this research are to measure the extent to which youth voters have trust in internet and the ability for the national government to conduct online elections, evaluate the youth voters ICT accessibility and skills and to determine the attitudes, perceptions as well as intention to participate in online elections using framework for mobile application. A quantitative research approach was adopted for this research. An onlinequestionnaire on formplus platform is used to collect data from Gauteng youth (18-35 years); 209 participants had valid responses. A conceptual framework is proposed using constructs and theories from the Technology Acceptance Model (TAM). The constructs were adopted from the Technology Acceptance Model (TAM), and it was also extended with trust constructs. The findings of this research are youth respondents have indicated that they agree (eighty-four percent) and have intention to use the mobile application to participate in online voting if it becomes available and they have the willingness to learn how to use it. The intention of youth to use mobile phones for online voting as an important contributing factor to improve youth participation in elections.Item A human capital perspective of digital business and service delivery in Johannesburg(2022) Thari, KagisoThe digitalisation of processes and services has grown popular as a result of the fourth industrial revolution. Digital businesses have successfully demonstrated that technology can offer strategic value, inspiring global governments to improve the quality of services offered to the public through digitalisation. The integration of digital technology into the service delivery strategy of the City of Johannesburg remains a subject with limited understanding. This qualitative study explored the level of integration of digital technologies in the delivery of public services by conducting six semi-structured interviews with the middle managers within the city. The collected data were thematically analysed by applying a dynamic capabilities framework with a focus on human capital. It was determined that the level of integration is still in its infancy, owing to the decentralised nature of the organisation. It was further determined that the human capital within the city is adequate to improve the level of integration of digital technology with the service delivery strategy from infancy to an advanced state, provided that there is organisational support for the middle managers.Item A meal preparation and delivery service business in Maseru(University of the Witwatersrand, Johannesburg, 2023) Raphuthing, LomileThe purpose of this study was to assess consumer preference for an online meal ordering and payment service in the food industry in Maseru, Lesotho. This service would offer office bound workers delivery of a variety of light meal alternatives, even catering for specific dietary preferences such as Banting and vegetarian. Lesotho is a small landlocked country in Southern Africa, wholly encircled by South Africa, and one of 46 countries that falls into the United Nations category of Least Developed Countries (LDCs) (UN, 2019). With South Africa being a more developed country and with better facilities and services all round, Basotho people continuously import South African goods, services, and culture, including ways of eating (Rantšo, 2017). In many areas of urban South Africa, consumers take it for granted that they can access a variety of prepared meals and have them to their door. This experience companies likes Mr. Delivery and Uber eats have made ordinary. Conversely, very few delivery services currently exist in Lesotho. The research explored the preference of Maseru’s working-class towards a new meal preparation start-up offering a menu with freshly prepared healthy eating alternatives paired with the convenience of delivery to the office in time for their lunch break. The research question was answered by collecting data from 60 potential customers, being office bound workers, from both the private and public sectors in Maseru within the 24 to 50 year age range. Data was collected using an electronic survey and analysed using Microsoft Excel and a statistical programme called Jasp.014. Frequencies and related graphs were created in Microsoft Excel, while Jasp.014 was used for Chi-Square calculations.Item A renewable energy solution for small to large businesses in the Kingdom of Eswatin(University of the Witwatersrand, Johannesburg, 2023) Manana, Cusilakhe; Mondi, LumkileThe Kingdom of Eswatini’s electricity supply is not self-sufficient and relies on the import of electricity to meet its local demand. This has resulted in the country importing 73% of its electricity from foreign suppliers including South Africa, Mozambique, and the Southern African Power Pool (SAPP). This heavy reliance on imports means the country cannot guarantee future supply nor have full control of the tariffs charged to customers for electricity. Solar photovoltaic (PV) technology installations have seen a steady increase worldwide due to improved efficiency in technology performance and a decrease in the cost of the technology. These advancements have resulted in solar technology becoming cheaper than traditional sources of energy available to consumers. The business venture investigates the viability of using solar technology as a solution to the high electricity costs being paid by small to large businesses within Eswatini. The venture aims to install, own, operate, and maintain solar PV plants at the customer’s property and sell the generated power to the customer. The venture does not seek to replace the utility supply but aims to provide an alternative cheaper solution as an input into operations. The business venture proposal targeted small to large businesses from varying industries across the country as respondents for the study. In the study, the market perception towards solar technology as well as consumer behavior analyzed to assist in formulating a business model for the venture which would ensure uptake of the value offering. Furthermore, the business venture investigated the viability of the project by evaluating performance parameters which included the levelized cost of energy (LCOE) of the solar plants, cash flows, Internal Rate of Return (IRR), and the Net Present Value (NPV)Item A small-scale sustainable farm in Tlapeng, Kagisano Molopo Municipality, North-West Province(University of the Witswatersrand, Johannesburg, 2023) Parkins, Lorato; Moyo, BhekinkosiThis project focuses on the establishment of a small farm business venture in Tlapeng Village, a rural area in Northwest Province, to explore market opportunities and promote social empowerment. By employing sustainable farming practices, the project seeks to enhance the socio-economic conditions of the community. Through a thorough assessment of market dynamics and consumer preferences in Kagisano Molopo, the project examines market demand, competitive landscapes, and consumer preferences. This analysis aids in identifying potential customers and developing unique selling propositions and understanding distribution channels and exploring niche markets, effective marketing strategies can be devised to gain market share. The project emphasizes the impact of a small farm business venture on social empowerment and business sustainability and highlights the key contributors to social empowerment, including bridging the knowledge gap, optimizing human resources, providing training and education programs, generating employment opportunities, ensuring access to healthy food, and fostering collaboration with the local community. These initiatives not only improve individuals' livelihoods but also foster a sense of community and overall well-being.Item A strategic management approach Education for the new world of work in South Africa(University of the Witwatersrand, Johannesburg, 2021) Manuel, Zelda; James, Goerge; Wotela, KambidimaThis research investigates the readiness of the South African education system for the new world of work. The future of work will be different, driven by automation, which place employment at risk. It therefore requires educational outcomes that can prepare individuals with the correct skillset (PWC, 2019). It will demonstrate that the traditional definition of jobs is shifting , a new breed of jobs that require multiple and diverse skills will replace role specification (March & McLennan, 2017). The study used a quantitative research strategy; the data was collected from participants using a questionnaire as a data collection instrument. Descriptive statistics was used to perform the data analysis. It found that although much work was done in the tertiary education sector to prepare learners for the new world of work, respondents confirmed that they still need to continue their learning journey to remain employable in the future. An individual’s employability is dependent on effective career planning and life-long learning (M Watson, M McMahon, 2009). The research highlights that career management aim to provide a holistic approach where learners choose careers that they are passionate about and not only for employability (Maree J. G., 2009).Career counselling allows for social and economic inclusion and the absence thereof have negative impact for families and the economy (Maree J. G., 2009). Organizations need to rethink their strategies and embrace new ways of work (Magwentshu "et al", 2019).They have the responsibility to up skill and reskill their workforce in order to adapt in the future and remain profitable (PWC, 2019). South Africa has high levels of unemployment, 29% (Stats, SA, 2020) and is faced with the challenge to accelerate economic growth. A further key challenge is the pace at which local companies are prepared to compete and grow in a digital world (Magwentshu "et al", 2019). This research will assist academic institutions to prepare learners for the new world of work by identifying skills required for the 21st century workplace that will equip learners for the future. It will aid learners to research future roles prior to registration as future careers are changing and from the research results, it is clear that employability is a key factor in selecting academic courses (Chikoti, 2018)Item A study of Industry 4.0 technologies and customer perception in the insurance industry(2021) Busschau, Mary C.BThe changes in society and business towards a more digitised and connected world evoke feelings of both excitement and anxiety. Businesses are increasingly using these technologies to ensure optimal customer service and delivery of services and products, but the literature shows that many customers may not be ready for this change. Industry 4.0 technologies such as big data, artificial intelligence, and the internet of things are bringing increased awareness around customer concerns on privacy, fear of autonomous robots and artificial intelligence, and a general distrust of new technology. This research study looks at the potential issues that customers have with digital technology and their perceptions of South African insurance providers using this technology. The research also looks at whether customer education and communication have an impact on these areas of privacy concerns, fear of autonomous robots and artificial intelligence and distrust of new technology and customer perception. A quantitative research method was applied through an online survey, of which 395 participants formed the segment. Using correlation statistics and structural equation modelling the results showed that a unit increase in privacy concerns was more likely to improve their perceptions towards insurance by as much as 17.9%. The results also suggest that there is a 26% chance that improvements in trust in technologies could positively impact respondents' perceptions of insurance. The study also revealed that fear of autonomous robots and artificial intelligence have nothing to do with customer perceptions; results were not significant at the 5% level. Further results indicated that customer education and transparent communication significantly impact customer perception related to privacy concerns by 61.15% and distrust of new technologies by 143.15%. These results support most of the theories from the literatureItem A theoretical analysis of how the enhancement of social media utilization can improve customer experience in South African retail banks(University of the Witwatersrand, Johannesburg, 2020) Rapitsi, LebohangPurpose: The banking industry has seen a rapid shift with the emergence of digital banks and non-direct competitors, as a result banks have responded with increased focus on the use of technology in efforts to defend market share. There is currently a lack of empirical evidence which relates to how the enhancement of social media usage by South African retail banks can improve customer experience. The purpose of this study is to examine empirical evidence to support the predictor effects of customer perception, service quality, customer satisfaction, with the aim of enhancing customer experience in retail banks by utilizing social media platforms. Design/Methodology/ Approach: The empirical study was of a quantitative nature, whereby factors pertaining to customer perceptions, service quality, customer satisfaction and customer experience were assessed accordingly. The sample consisted of 62 respondents from the various retail banks in South African. Various statistical tests were initiated in order to understand the relationships between the abovementioned variables. Findings: The results from the study indicate a positive relationship between customer satisfaction as a predictor of customer experience on social media platforms. The findings also suggest although there may be associations between service quality and customer perceptions with customer experience, they are however not significant. Implications: It is critical for retail banks to continue to seek innovative ways to improve customer experience. The benefit of utilizing social media platforms is that it allows for banks to establish valuable interactions with customers whilst leveraging information in order to understand the needs of their customersItem Absenteeism and motivational factors at Chris Hani Baragwanath Hospital Emergency Unit(2021) Ndwandwe, MartinAbsenteeism, which is the practice of not attending a scheduled work duty as expected by an employer, is a serious concern in South African health institutions, which already suffer staff shortages. This study analyses the causes of absenteeism and its consequences for the emergency unit of a public hospital. The research was conducted through a qualitative and quantitative analysis using primary data. Data was collected through interviews and questionnaires with ten participants working at the Chris Hani Baragwanath Hospital Emergency Unit. Data analysis was conducted using codes and themes which were interpreted to deduce meaningful findings. The main findings were that poor working conditions, poor work relationships, poor management and inadequate compensation contribute to absenteeism. Absenteeism has negative repercussions for all stakeholders at a public hospital, especially the public, for whom the absence of staff equates to poor service delivery. Moreover, absenteeism results in the overloading of remaining staff, an increase in pressure on managers, and a poor reputation for the institution as a wholeItem Access to finance by black-owned small and medium enterprises operating in the South African agro- processing sector(University of the Witwatersrand, Johannesburg, 2022) Tjabadi, Jazzino; Mazonde, NomusaSmall and medium enterprises (SMEs) make a meaningful contribution to economic growth, job creation and poverty alleviation. Despite this, there is a low creation and high failure rate of new small businesses in South Africa. Access to finance is considered the main contributing factor, particularly amongst black-owned SMEs. South Africa has identified agro-processing industry as a sector with high potential to spur growth and create jobs because of strong linkage with primary agriculture. Against this background, this study sought to investigate the factors that hinder access to finance by black-owned SMEs operating in the agro-processing sector in South Africa and explore other key factors that threaten their long-term survival. This research contributes to solutions aimed at addressing the root causes attributable to SMEs’ inability to access funding from the formal financial institutions and government agencies. Using qualitative research method, data was collected from black SME entrepreneurs through semi-structured, in-depth interviews and analysed using content analysis. Purposeful sampling was used to identify and select the participants. The insights gained from the research highlights that black-owned SMEs are severely impacted by funding and market access issues, amongst others. The findings revealed that black SME entrepreneurs prefer to use own capital and/or funds from family and friends to start and grow their businesses. Complex processes, unsuitable financial products, high interest rates, unfavourable repayment terms and favouritism in government schemes were found to be amongst the key factors that discourage SMEs from applying for formal institutional finance. Other factors such as limited access to information about available funding sources and access to market opportunities significantly influence the long-term success of black- owned SMEs. To develop a sustainable, long-term financing model for SMEs, it is recommended that government, in partnership with the private financial institutions, establish a small business financing institution for SMEs in the agro-processing industry. To avoid the major deficiencies plaguing the existing government schemes, this should be a private, stand-alone entity funded by the government and private financial sector. The new institution should introduce new, innovative financing solutions that are tailored for start-up and early-stage SMEs.Item Accountability for audit findings in the Department of Social Development(University of the Witwatersrand, Johannesburg, 2020) Chetty, Kylan; Cairns, M.This research aims to examine the effect and importance of accountability of audit findings and their recommendations in the South African Department of Social Development. The research utilizes qualitative data using interview data by a sample of 16 individuals relevant to audits and accountability within the department. In “Chapter 1-2,” the introduction and the literature review of auditing theories, repetitive findings, and accountability are presented. After that, a conceptual framework was formed, which led to a significant link between accountability and repetitive findings regarding the effect a lack of accountability has on organizational development and the repercussions. “Chapter 3-4” demonstrates a well-constructed research methodology, which provides an indication of the Interpretivist approach the research would take through the evaluation of audit reports, literature, and interviews. Thus, the research design formed a basis for collecting valuable data that followed a process of analysis to determine the significant findings of the study. “Chapter 5” The final portion of this research aims to conclude on the study's findings based on the core elements of accountability and the significant impact this has on the DSD effectiveness in implementing audit recommendations. The study highlights a strong existence of a lack of accountability by the DSD and the need to implement an audit policy practice that mitigates non-compliance by Senior Management in the implementation ofaudit recommendations. Overall, the results demonstrated a strong existence of a lack of accountability in the department and an ineffective understanding of addressing key findings. A significant notion of the data revealed that senior managers were unable to resolve audit findings and their root causes, resulting in repetitive findings and therefore the creation of repetitive tasks resulting in a condition known as Audit Fatigue