3. Electronic Theses and Dissertations (ETDs) - All submissions

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    Assessment of potential barriers to medicines regulatory harmonization in the Southern African development community (SADC) region
    (2016-04-28) Calder, Amanda
    Background The World Health Organization (WHO) defines medicines regulation as the “promotion and protection of public health by ensuring the safety, efficacy and quality of drugs, and the appropriateness and accuracy of product information” (1). Medicines regulation is a key function in the realisation of the right to essential medicines. However, a satisfactory level of harmonization of regulatory activities has not been achieved in the Southern African Development Community (SADC) region as yet. Objectives The study evaluated the current status of medicines regulatory harmonization within the SADC region, as well as explored perceived barriers to regulatory harmonization and potential strategies to address these. Methods A cross-sectional exploratory study design with qualitative techniques, as well as an inductive approach was used. In-depth, semi-structured, face-to-face interviews with interviewees from the SADC Secretariat, the African Medicines Harmonization (AMRH) Initiative and the Southern Africa Regional Programme on Access to Medicines and Diagnostics (SARPAM) was used, involving secondary formal qualitative approaches to identify the emergent themes, was utilised initially. A questionnaire was formulated and adapted using secondary data collected from the face-to-face interviews, then piloted. Questionnaires were sent to senior members of all 15 regulatory authorities belonging to SADC, including registrars and deputy registrars. Theoretical and analytical codes were identified from repeated ideas, concepts or elements. Codes were grouped into concepts, and then into categories. Trend analysis was conducted, involving an in-depth analysis of patterns. Results Barriers to regulatory harmonization in the SADC region perceived by participants included i) deficiencies in governance and leadership within the SADC Secretariat, ii) human resource and technical capacity constraints, iii) limited financial resources, iv) lack of political will within SADC governments, v) lack of intra-SADC relationships, vi) risk-benefit analysis differences in assessment of applications and bias according to local population needs, as well as vii) different guidance documents and legal frameworks among member countries. Strategies identified to address these included i) using other harmonization initiatives as models, ii) application format harmonization and African Union (AU) Model Law adoption, iii) redirecting focus of harmonization to information sharing and technical matter rather than complex legislative frameworks, iv) regulator initiatives of harmonization instead of SADC secretariat reliance, v) World Bank Agreement adoption, vi) human resource capacity development and vii) convergence of guidelines instead of complete harmonization of all regulatory requirements. Conclusions The findings in this study suggest that it may be necessary to redirect the focus of harmonization to more readily achievable activities and aim for convergence of guidelines. Regulatory harmonization is possible if barriers to it are addressed.
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    Global commerce and human rights: towards an African legal framework for corporate human rights responsibility and accountability
    (2016-01-29) Osuntogun, Abiodun Jacob
    Since the 1970s, when third world countries challenged the market-dominated international trade regime, the United Nations (UN) has been engaging without relent on how to fill the gap in business and human rights governance. The gap exists in countries with relaxed domestic regulatory regimes, where multinational corporations commit human rights violations without regional and institutional mechanisms to hold them accountable. From the draft codes, to the Global Compacts and the UN Draft Norms, the search failed to yield the desired result. In 2005, another move was made that produced a compendium of UN Guiding Principles on Business and Human Rights (UNGP) which was unanimously endorsed by the UN Human Rights Council (UNHRC) in May 2011. Although it has been argued that the endorsement fills the gap that has been missing in the quest for global corporate accountability, the search continues unabated at the UN forum albeit without the support of some powerful nations for a ‘binding international legal instrument’ that will regulate the activities of corporations with regard to human rights. However, while awaiting the outcome of the recent interrogation on the issue, the UNHRC passed a resolution that the implementation of the UNGP should commence. Since Africa is one of the continents greatly affected by this problem, this thesis considers how the African Union (AU) can develop a framework for corporate human rights responsibility and accountability in line with the UNGP. To this end this thesis proposes a mechanism that will engender a proper implementation of the UNGP; it argues that a new treaty process and implementation of the UNGP are simply different sides of the same coin and that they serve the same purpose. The thesis also considers the adequacy of the existing regulatory framework for corporate human rights accountability in Africa and explores the creation of an appropriate forum for the implementation of the UNGP. Choosing the AU as the suitable forum, this thesis endeavours to examine how some legal and policy-making institutions in the AU can be rejuvenated, overhauled and re-positioned in order to perform effective corporate accountability oversight to support the domestic and sub-regional systems. Furthermore, it attempts to provide possible remedies to victims of corporate human rights violations in Africa.
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    Sources of macroeconomic fluctuations and stabilization policies in African economies
    (2016-01-29) Rasaki, Mutiu Gbade
    The thesis focuses on the sources of macroeconomic uctuations in ten (10) selected African economies over the period 1990-2011. Data for the study were obtained from the International Financial statistics (IFS), the World Bank, and Central Bank database of the selected countries. We formulate a dynamic stochastic general equilibrium (DSGE) model for the thesis. We estimate the model using quarterly time series data. Due to data availability, the sample size di¤ers from one country to the other. First, we investigate the relative contributions of internal and external shocks to economic uc- tuations in African economies. Second, we evaluate the signi cance of the balance sheet channel in African economies. Third, we investigate the ef- fectiveness of sovereign wealth funds in reducing macroeconomic volatility caused by commodity price shocks. The thesis has 5 chapters. Chapter 1 is the general introduction. Chapters 2, 3, and 4 are stand-alone related papers on macroeconomic uctuations. Chapter 5 is the conclusion. Chapter 1 introduces the study. We discuss the research problem, the moti- vation, the objectives, and the research questions. We also explain both our theoretical and empirical contributions to the literature. Moreover, we high- light the signi cance and the key ndings of the study. Finally, we conclude the chapter with a brief outline on the organisation of the study. Chapter 2 investigates the relative contributions of internal and external shocks to macroeconomic uctuations in African economies. We formulate and estimate a monetary DSGE model to examine the sources of economic uctuations in ten African countries. The model is estimated with the Bayesian technique using twelve macroeconomic variables. Generally, the ndings indicate that both the internal and external shocks signi cantly in- uence output uctuations in African countries. Over a four quarter horizon, internal shocks are dominant while over eight to sixteen quarter horizons, the external shocks are dominant. Among the external shocks, external debt, ex- change rate, foreign interest rate and commodity price shocks account for a large part of output variations in African economies. Money supply and productivity shocks are the most important internal shocks contributing to output uctuations in African countries. To ensure macroeconomic stability, African countries need to formulate appropriate exchange rate and exter- nal debt management policies, diversify the economies, and create sovereign wealth funds (SWFs) or use hedging instruments. Chapter 3 evaluates the quantitative signi cance of the balance sheet chan- nel in African economies. We construct an open economy monetary DSGE model where entrepreneurs nance investment by issuing foreign currency- denominated debt. The model is estimated with Bayesian technique. The evidence suggests that the balance sheet e¤ects are empirically important in African economies. The marginal likelihood results clearly favour the model with nancial frictions. Moreover, the ndings indicate that the balance sheet e¤ect reduces the e¤ectiveness of monetary policy, raises the sensitiv- ity of the risk premium to external debt, and contracts output. This indi- cates that exchange rate depreciation is contractionary in African economies. We conclude that African countries should reduce their exposure to foreign currency-denominated debt and also deepen their domestic bond markets. Chapter 4 investigates the e¤ectiveness of sovereign wealth funds (SWFs) in reducing macroeconomic volatility in commodity exporting African countries. We formulate and simulate a dynamic stochastic general equilibrium (DSGE) model that features SWFs. The simulation results suggest that the creation of SWFs can reduce macroeconomic volatility in commodity exporting coun- tries. Particularly, SWFs can reduce government expenditure, real exchange rate, and external debt volatility. Since these are the channels through which commodity price shocks are transmitted to the African economies, we rec- ommend that African countries should create SWFs to sterilize the in ow of commodity revenue and to prevent the resource curse problem. Chapter 5 concludes the study. We summarize the key ndings in Chapters 2, 3, and 4. We highlight the policy implications of our ndings. Finally, we suggest areas for further research.
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    Impact of political institutions on electricity generation outcomes in Sub-Saharan Africa
    (2015-09-02) Ngwane, Zamangwane Beryl
    Africa’s wave of democratisation since 1990 has transformed political institutions in the region. But while democracy is a desirable end in itself, considerable doubts remain about whether it is contributing to better development outcomes. This study investigates the impact of political constraints on electricity generating capacity, using cross-national data for 46 sub-Saharan African countries. It tests the hypothesis that institutions that restrain arbitrary executive authority result in higher levels of electricity generating capacity. The hypothesis is informed by the theory of credible commitment. This theory holds that political constraints provide a stable political and policy environment that reduces temptations for governments to renege on their commitments. Credible commitments are especially important in attracting investment with a long gestation period, such as investment in electricity generating capacity. In my method I use a combination of statistical analysis and nested case studies to probe the congruence of these outcomes with my hypothesis. For the nested analysis I use the statistically chosen countries of Rwanda and Kenya, which in themselves conform to the pattern of the hypothesis. My central finding is that the presence of democratic political institutions has led to improved electricity generating outcomes in African states. In this way the study contributes to the understanding of the developmental consequences of democratisation in Africa.
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    Representations of the postcolonial city through the eyes of the African artist as Flâneur
    (2015-02-16) Matheolane, Mpho Moses
    This research report considers the question and concept of the flâneur as an artist and a means of representing the city. In doing this, the figure of the flâneur is removed from its European and Western urban context and placed within an African one. This figure is also imagined as an African black artist as opposed to its popularly and historically known white poet and artist, of Baudelaire’s creation. In this way, the flâneur as an African artist, in an African city, may be used to ask and possibly answer the question of what this all entails for the representation of such a city, are there any differences between this flâneur and its Western archetype? Factoring in the significance of postcolonial theory and its application to space, more especially the city, what nuances and perspectives may be drawn from this? For purposes of the above; the city of Johannesburg is used as the spatial subject matter, the early series of work by the artist Kudzanai Chiurai being an example of the aforementioned representation of the city while the artist himself is seen as the flâneur with the rationale behind his work being the practice of the flâneur that is, flânerie. Keywords: Postcolonialism, postcolonial urbanism, flâneur, flânerie, Baudelaire, Walter Benjamin, Johannesburg, post-apartheid, Achille Mbembe, Kudzanai Chiurai.
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    Policing gender dissidence: a study on the increase of institutionalized gender repression- the 2014 anti-homosexuality bills of Uganda and Nigeria
    (2015-08-21) Morobane, Farai
    In the first two months of 2014, LGBTI rights were dealt heavy blows in two African countries. On 7 January, Nigerian President Goodluck Jonathan signed into law a bill that criminalises same-sex unions, with prison sentences of up to fourteen years. This same law sentences any person or organisation that funds in any way the registration and operation of gay organisations, clubs, or societies to a prison sentence of ten years. A month later, the president of Uganda, Yoweri Museveni, officially assented to a more draconian bill which imposes penalties as high as life imprisonment for people engaging in consensual same-sex sexual activity. There has been a stark increase in the passing of repressive gender laws on the continent in the last decade. This is a qualitative inductive study that sets out to research the factors causing the increase of gender repressive law making in African states between 2009 and 2014. The study sets out to dissect the 2014 Anti-homosexuality bills of 2014 in Uganda and Nigeria as case studies. Using a multi-layered analysis approach the study tests out the influences leading to the increase of LGBTI intolerant laws categorised into national, regional and international impacts. I argue that strategic national interests are central in explaining the frequency, urgency and intensity of anti-homosexuality vitriol in some African states.
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    Customer Relationship Management (CRM) implementation within the banking and mobile telephony sectors of Nigeria and South Africa
    (2014-02-21) Chinje, Nathalie Beatrice
    In recent years, emerging markets have become the main “engine of global (economic) growth” (Spence, 2011, p. 8) . Whilst the rapid diffusion of its banking and mobile telephony industries has been unprecedented and well documented in the literature (Bankole, Bankole, & Brown, 2011; Bick, Brown, & Abratt, 2004; Brahima, 2012; Kalba, 2008), the dearth of empirically based evidence on CRM implementation in emerging markets in general, and Nigeria and South Africa (SA) in particular, remains undisputed (Kumar, Sunder, & Ramaseshan, 2011; Sheth, 2011). Consequently, the problem this research addresses is the lack of adaptation of CRM strategies to the emerging market context and the lack of understanding of contingency factors that may inhibit or enable the effectiveness of CRM implementation in companies. To provide further insights into this issue, sixty six (66), one-on-one, semi-structured interviews were conducted with CRM strategy developers, implementers and those fulfilling both roles in four companies across the banking and mobile telephony sectors of Nigeria and South Africa. Secondary data were also collected and triangulated with the findings derived from the primary research to enhance the rigour of this research process; and most importantly, to strengthen the reliability and validity of the research findings. The collected data was recorded, transcribed and analysed using a contact summary form and MAXQDA analysis, a qualitative data analysis software package. The research findings illustrate that whilst some of the factors for CRM effectiveness in Nigeria and South Africa may be consistent with those in high income, industrialized markets, the peculiarities of Nigeria and South Africa require that companies adapt their CRM strategies to the local context. The contingency factors that can either impede on or enhance effective CRM implementation in these countries include (a) multichannel integration (particularly informal channel and social media), (b) operating structure, (c) training and staff recruitment v practices, (d) customer data storage and mining capabilities as well as (e) normative motives linked with the socio-cultural context of the country. The similarities and differences between Nigeria and South Africa are also highlighted in this study. The originality of this study lies in it clearly defining the peculiarities of CRM in emerging markets, thereby establishing that these markets are different from high income, industrialized markets. In addition, this study identifies the contingency factors that can enhance or impede on CRM success in these markets and puts forward a set of research propositions as well as a conceptual model for CRM implementation in emerging markets as a contribution to the body of knowledge. This CRM conceptual model can be tested in future research. Building on these findings, the study makes suggestions on how the strategy of CRM can be adapted to the emerging market context. It proposes that companies assess their CRM readiness through the application of a newly developed heat map that takes into consideration the company lifestage and its industry saturation level. This heat map is a useful tool for organisations to ascertain whether or not they are ready to embark upon the CRM programme, to better understand the required efforts needed to deliver on a successful CRM programme as well as the expected timelines for true benefits realisation. Moreover, another contribution of this research is the development of a CRM index, a composite index of 16 indicators that measures CRM success across three dimensions; namely organisational, institutional and customer data. Furthermore, the novelty of this research can also be found in the triangulation of theories such as the contingency, institutional, and Hofstede’s fifth national value dimensions of culture that focuses on a short vs. long-term orientation of cultures and companies, are integrated into a single study. vi This study has theoretical, managerial, conceptual, methodological and societal implications. Future research could include other geographies, industries, a longitudinal study and quantitative studies based on the testing of the proposed CRM conceptual model and index.
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    South Sudan's secession in contemporary Africa
    (2013-10-22) Nicholson, Marietjie Johanna
    The Republic of South Sudan’s independence on 9 July 2011 revived the possibility of secession as means of self-determination. The purpose of this exploratory study was to analyse and assess the implication of secession on the African environment, with reference to South Sudan. The qualitative research approach enabled the researcher to draw parallels between literature and opinions of experts involved in South Sudan’s secession. Driving the secessionist approach are ideologies and greed of elites and peoples in power, religious differences and the unequal distribution of wealth and resources that exacerbate tensions between the fortunate peoples enjoying opportunities to develop and the excluded, utterly poor peoples just surviving. National and international attitudes sanction or veto the possibility to secede. Although secession could terminate continued disarray, it should only be considered if both states, as parties to the secession, could ensure the delivery of statehood responsibilities to their citizens and neighbouring communities.
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    African frontier markets: extent of illiquidity and inherent private equity investment opportunities
    (2013-08-27) Du Toit, Willem Johannes
    This study investigates the current private equity market in African frontier markets as well as inherent investment opportunities in these African frontier markets. The research includes an analysis of, inter-alia, the following: the development of capital markets in Africa, the classification of African frontier markets, the measurement of liquidity, the relationship between liquidity and asset prices and the history of private equity. This study will highlight to policymakers both in African and in donor capitals the need to implement strategies that will support investment (especially private equity investment) into the continent. The research carried out in this study should contribute to a better understanding of illiquidity risks of African frontier markets and show how these can be mitigated. This study will also provide key information on African frontier markets to investors and fund managers in order for them to understand that a typical investment strategy for investing in developed markets cannot be applied to frontier markets. The study analyses data of listed stocks on selected African stock exchanges and compares this to data for similar stocks listed on developed world stock markets to examine the relationship between liquidity, earnings multiples and market capitalisations for these stocks. Interestingly, results show that, while there is no relationship between the liquidity of stocks and the Price Earnings (PE) multiples of stocks, there is strong evidence to suggest that a relationship exists between the liquidity of stocks and the Enterprise Value to EBITDA (EV/EBITDA) multiples of stocks. Furthermore, we find strong evidence that African frontier market stocks are significantly less liquid and have lower earnings multiples than stocks with similar market capitalisations listed on stock exchanges in the developed world.
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    Development finance and the development of financial equity markets: the case of the oil and gas industry in Africa
    (2013-08-06) Africa, Andrea
    This paper analyses the provision of development finance to oil and gas exploration and production (E&P) firms through Development Finance Institutes (DFIs) in Africa. The paper aims to determine the state of equity markets and development finance in Africa and the level at which they contribute to the financing of oil and gas projects in Africa. The main question to be answered: is small firm participation sustainable in the oil and gas industry if equity markets do not develop to meet the financing needs in Africa? It is found that development finance contributes a small proportion of capital into oil and gas deals and financial equity markets play an even smaller role in garnering finance for capital intensive projects in the oil and gas industry as most finance is sourced externally or from internal cash flows. Small firms tend to reduce their interest in oil and gas projects based on lack of access to domestic finance through equity markets and limited development finance availability.
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