Electronic Theses and Dissertations (Masters/MBA)

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A combined assurance model to promote integrated reporting in Limpopo provincial treasury
(University of the Witwatersrand, Johannesburg, 2021) Manabalala, Matshidiso; Gobind, Jenika
Organisations expand, and business operations evolve & become more multifaceted; the growth leads to the board and ARC requiring more assurance providers’ functions to oversee achievements of objectives. The multiple uses of assurance providers’ activities in isolation cause the board and audit committees to suffer from effort duplication, leading to assurance fatigue. The purpose of the study is to explore challenges associated with the implementation of the combined assurance model by Limpopo Provincial Treasury (LPT) and develop possible solutions in the form of recommendations for LPT to improve. The study follows the qualitative research method to achieve the research objectives. This research uses unstructured and semi-structured individual interviews to collect primary data from LPT assurance providers, Auditor General South Africa (AGSA) and Departments and Public Entities Chief Financial Officer as LPT’s stakeholders. Interview questions have been developed for use during the primary data collection to interview individual participants. Permission has been requested from the HOD of LPT to interview the research participants. Findings - The challenges for LPT implementation of combined assurance are caused by Ineffective communication, working in silos and lack of collaboration results in duplication of efforts, assurance fatigue, and contradicting reports. Conclusion- Change in organisation culture and promotion of integrated thinking will lead to successfully implementing the combined assurance model.
A comparative analysis of the extent of investment banking In Africa versus other emerging markets
(2020) Mphakathi, Solomon
This 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.
A comparative analysis of transformation between local and global media and advertising agencies in South Africa
(University of the Witswatersrand, Johannesburg, 2023) Ndinguri, Kevin
Poverty, 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 findings
A comparative study of housing affordability in South Africa using the adjusted Debt-Service Ratio and Price-Income Approach
(University of the Witwatersrand, Johannesburg, 2021) Mmesi, Lesotla; Alovokpinhou, Sedjro Aaron
This study compares the adjusted Debt-Service Ratio (DSR) model and the widely used Price-Income Ratio (PIR) in the South African context to establish which of the measuring approaches give better and reliable results over time. In South Africa, housing unaffordability remains a challenge and accurately quantifying the extent of the problem is of key importance. The adjusted DSR model was seen as an appealing housing affordability measure to be explored as it corrects for household income changes and net financing cost of the mortgage loan thereof giving a refined calculation for housing affordability. The research also explores the relationship of both the adjusted DSR and PIR to key macroeconomic variables, that is, economic growth (EG), mortgage rate (MR), unemployment rate (MR) and house price (HPI). The findings show that the PIR is the better measure of housing affordability than the adjusted DSR. The PIR accurately parallels other banking sector data regarding housing affordability, whereas the adjusted DSR tends to underestimate housing affordability in the South Africa context. Another key finding is that, on average, the housing prices are too high for an economy like South Africa, which is still battling with, low GDP growth rate, high unemployment rate, inequality and poverty
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, Euphemia
The 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.
A comparison of investor attractiveness of oil and gas exploration and production regulatory environments and fiscal regimes in South Africa and Mozambique
(2022) Sigedle, Anelisa
The 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.
A conceptual framework for the South African fintech ecosystem
(2021) Masangwana, Vuyelwa
The 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.
A creative business venture to promote youth development in townships
(University of the Witwatersrand, Johannesburg, 2022) Ngidi, Tebogo Lorna; Venter, Robert
From 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.
A customer communication application for organisations
(University of the Witwatersrand, Johannesburg, 2022) Netangaheni, Shumani; Horvey, Sylvester Senyo
The 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 recovered
A digital earthmoving equipment service platform to enhance customer aftermarket experience
(University of the Witwatersrand, Johannesburg, 2023) Molele, Nnanna Reshoketswe; Horne, Renee
The 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 competitors
A digital fraud strategy framework for banks and insurance companies in South Africa
(University of the Witwatersrand, Johannesburg, 2022-08) Mahlangu, Cecilia Nonhlanhla Pretty; Oro, Oro Ufuo
South African banks and insurance companies have been focused on transforming and accelerating their digital strategies. There has been much focus for most organisations on providing products or services across various digital platforms. As a result, fraudsters are also finding new ways to commit fraud on the same digital platforms. Consequently, digital fraud numbers have increased, and banks and insurance companies should ensure that they implement suitable measures that will help them predict, prevent, detect, monitor, and respond to digital fraud in real time while protecting their customers' financial goals and improving customer experience. Existing studies have revealed components of combating digital fraud for the South African financial service providers, but no study on a holistic digital fraud strategy framework has been conducted. The aim of this research is therefore to evaluate a digital fraud strategy framework for South African banks and insurance companies, and to obtain a better understanding of how to combat digital fraud for South African banks and insurance companies. A mixed-methods approach was used in this study, in which participants in the banking and insurance industry were surveyed, and digital fraud subject matter experts were interviewed. Data analysis revealed that organisational structure, education and awareness, policies, big data, and analytics all have an impact on reducing digital fraud for South African banking and insurance institutions. The study also found that government legislation does not affect the reduction of digital fraud. South African banking and insurance institutions therefore need to implement appropriate measures that will help combat digital fraud. Keywords:
A Digital Platform Car Wash Business
(University of the Witwatersrand, Johannesburg, 2023) Ndlovu, Cebo
The 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 year
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 René
The 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.
A human capital perspective of digital business and service delivery in Johannesburg
(2022) Thari, Kagiso
The 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.
A meal preparation and delivery service business in Maseru
(University of the Witwatersrand, Johannesburg, 2023) Raphuthing, Lomile
The 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.
A needs assessment of outsourcing information technology and business services to rural areas in South Africa
(University of the Witwatersrand, Johannesburg, 2020) Ramagondo, Vhumbani; Louwrens, Jessica
The purpose of this study was to investigate the perception of South African organisations on the rural outsourcing of their Business Processing and Information Technology services. This study is based on a questionnaire survey conducted on South African organisations. The goal of this survey is to determine the perceptions of people concerning the attractiveness of potentially outsourcing their services to rural areas. Results of the study show a negative perception towards the attractiveness of rural outsourcing. The results also highlighted the factors that are contributing to this negative perception of rural outsourcing. The findings of this study have several implications for the viability of a rural outsourcing market in South Africa. The results also provide both potential rural outsourcing suppliers and clients with an assessment of the potential of rural outsourcing business processing outsourcing (BPO) and information technology outsourcing (ITO). The study also makes a valuable contribution to the outsourcing industry by identifying the business process and information technology services that are most suitable for rural outsourcing
A new business venture proposal for student accommodation in KwaZulu Natal
(University of the Witwatersrand, Johannesburg, 2021) Nxumalo, Malibongwe A.; Konar, Len
Scarcity of on-campus student housing has given birth to a niche market for private companies to close the gap as requested by the Department of Higher Education and Training (DHET) in South Africa. RasRach Student Living Company (RSLC) is a student accommodation company specialising in affordable, quality and secure studend living in Pietermaritzburg, Kwa-Zulu Natal province. Leveraging off its technological capabilities, RSLC will invest in renewable energy and the circular economy to efficiently manage operational costs and the impact of loadshedding on students, thus disrupting the sector. The Scotsville precinct within Pietermaritzburg has been identified as a hot spot to provide the service as it houses three tertiaty institutions within a five kilometre radius, making an ideal location for the RSLC housing project. This suburb provides a great opportunity for RSLC to access properties at a cheaper price and develop them to meet the housing demand. A qualitative data method was utilised to collect secondary desktop data accessible from government departments, libraries, verified journal articles, university publications and company websites. An unprecedented increase in the domestic population and the youth who require tertiary education cannot be ignored as higher education institutions are struggling to meet the demands for the provisioning of both academic and student accommodation. This serious challenge leads to the students‟ poor performance, with a drastic increase in the drop-out rates. A strong correlation exists that indicates that quality student accommodation not only impacts the students‟ performance academically but also impacts their social interactions and participation within the university programmes. RasRach Student Living Company will purchase properties near different institutions around Scotsville, Pietermaritzburg. These properties will be redeveloped to meet the requirements of the Policy on Minimum Norms and Standards for Student Housing at Pubic Universities issued by DHET. RSLC growth strategy is organic in the short-medium term and will franchise in five years to implement the strategy of the company thus advancing its business mode
A private education business model for township students in Gauteng schools
(University of the Witwatersrand, Johannesburg, 2021) Matli, Mmasechaba; Venter, Robert
South Africa’s (RSA) public education system is in a crisis with many of the public schools offering poor quality of education. The study developed an inclusive private education business model for township students. Previous work has focused on school choice, impact of regulations on Low Fee Private Schools (LFPS) and Public–Private Partnership (PPP) Schools, academic performance. There is little known about PPP schools in South Africa and LFPS in townships areas in South Africa. Quality education increases employment opportunities, reduces poverty levels, and increases opportunities to skills development. If not received, the inverse is true. The study presented a review of literature comprising an analysis of the research problem with a focus on symptoms, root causes, and consequences of poor-quality education in public schools. A qualitative research strategy is chosen and a case study research design. The study used semi-structured interviews and a questionnaire. A purposive sampling strategy was selected. A total of twenty-one people participated in the study. The study used content analysis to analyse data, including theme identification and code labels. The evidence of the study suggests that parents living in the township are open and willing to send their children to a township private school on condition that it is affordable. Partnerships are central to deliver quality education, it is important for schools in general to partner with various stakeholders including corporate, government, financial institutions, parents and other. Township schools need to have a deep understanding of the community needs, the complex social issues and therefore tailor services accordingly. One of the key service offerings for township schools suggested by research is social support services and remedial. Social support includes counselling, career planning and other. The proposed solution must be inclusive, affordable, holistic, and equitable. There is, however, a considerable number of parents who are happy with the quality of education in the public schools. The research findings suggest that there is a demand for quality education in the townships
A proposed internal audit tool to improve internal audit effectiveness in South African national departments
(University of the Witwatersrand, Johannesburg, 2021) Seitei, Zondre Launchya; Wotela, Kambidima; Plant, Kato
Increasing governance related issues are plaguing the South African government, which have in recent times seen many state institutions facing serious financial and operational related challenges to the point where the National Treasury had to bail out public institutions. Internal audit is a vital component of governance structures within organisations, as internal audit functions (IAF) provides support to the its governing bodies through the provision of assurance and consulting services on the effectiveness of risk management, controls and governance processes. The Institute of Internal Auditors (IIA) has made the development and implementation of a quality assurance and improvement programme (QAIP) mandatory in term of standard 1300 of the International Standards for the Professional Practice of Internal Auditing (The Standards). This augments the importance of measuring the quality delivered by internal auditors to their key stakeholders. Literature revealed that the quality or effectiveness of IAFs’ management support, independence and its competence are factors that can be positively correlated to internal audit effectiveness (IAE). However, the existence of a quality assurance self-assessment preparation (QASP) tool appears to be limited. Therefore, the aim of his study was to propose such a tool to aid IAFs in South African government national departments in conducting their own self-assessments. This could capacitate IAFs in the public sector to assess their effectiveness. This study found that there is a need for quality assurance self-assessment preparation (QASP) tool to help IAFs assess their effectiveness. Four key themes emerged from the findings, namely, IAE, internal assessments, a measurement tool and external audit reliance culminating into a proposed QASP tool. It is therefore recommended that IAFs of national departments in the South African public sector take cognisance of the proposed tool to improve internal audit quality and ultimately governance and service delivery
A renewable energy solution for small to large businesses in the Kingdom of Eswatin
(University of the Witwatersrand, Johannesburg, 2023) Manana, Cusilakhe; Mondi, Lumkile
The 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)

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