School of Business Sciences (ETDs)

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    Factors determining the supply of micro insurance in the South African insurance market
    (University of the Witwatersrand, Johannesburg, 2024) Chikumbu, Dudzai Christopher; Mushai, Albert
    Access to financial services by low-income households is an important tool for meeting the millennium development goals and development. Micro insurance is a crucial financial service designed to provide affordable and accessible insurance solutions to low-income populations often excluded from traditional insurance markets. However, there is a dearth in literature especially in the South African context, looking at micro insurance from a supply-side perspective. This study sought to explore the factors determining the supply of micro insurance in the South African insurance market. Through the use of a purposive sampling method, 25 business development and market executives from selected insurance service providers participated in the study. Semi-structured interviews were used to gather data and the inductive thematic analysis was used to analyse data. Seven main themes emerged from the data. The study found that among other factors, the decision to supply or not to supply microinsurance in South Africa is mainly influenced by a combination of factors such as the distribution channels, pricing considerations, transaction costs, availability of historical data, and the regulatory framework. The study suggests strategies that leverage market insights, foster innovation, and advocate for supportive policies to expand access to affordable and sustainable microinsurance solutions for low-income populations. This would help in increasing the demand for, and supply of microinsurance in South Africa. The study concluded that while microinsurance holds promise as a tool for promoting financial inclusion in South Africa, its success depends on addressing regulatory framework challenges, the design of the products, balancing affordability and profitability, awareness issues and sustainability challenges. Through the application of a critical perspective and engaging stakeholders across sectors, policymakers, and civil society organisations, insurers can work together to unlock the full potential of microinsurance in improving the lives of low-income communities
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    Insights derived from information security behaviour of employees in the South African banking industry
    (University of the Witwatersrand, Johannesburg, 2024) Dhladhla, Thembi; Moodley, Kebashnee
    An increase in malicious, accidental, and intentional information security incidents caused by employees necessitate further research to get insights on how to detect and prevent internal attacks (Ponemon, 2021). The South African banking industry employees either choose to comply or are non-compliant to the principles of the information security policy. It is imperative to understand what factors motivate bank employees to comply and what encourages them to be non-compliant. Additionally, the study sought to understand the impact of the information security behaviour of employees on the bank. To achieve this purpose, a quantitative method was utilised in the form of an online questionnaire which was distributed to 383 bank employees. 223 valid responses were analysed using the IBM SPSS tool. The data analysis was first done by using descriptive statistics. It was followed by conducting Cronbach’s alpha test of reliability or internal consistency of the scale items used. This informs how closely related the questions in the Likert scale is related as a group. Pearson correlation and multiple regression analysis was used to assess the interrelationship between the independent and dependent variables. The researcher coined a hybrid theoretical framework named the Composite Information Security Behaviour Framework (CISB) which consists of Protective Motivation Theory (PMT), Theory of Planned Behaviour (TPB), Deterrence Theory (DT), Reactance Theory (RT) and Techniques of Neutralisation (TN). The CISB framework was able to predict 52% of the information security behaviours of bank employees in contrast to using individual information security behaviour theories on their own to predict compliant and non-compliant security behaviour. Pearson correlation indicated that the Protective Motivation Theory (PMT) and Theory of Planned Behaviour were the information security theories that most influenced positively and significantly the compliant security behaviour of bank employees. This study contributes to the body of knowledge, it explored the information security relationship employees have with information security policies and found the influences on their chosen security behaviour be it compliance or non- compliance. The contribution is to the existing research literature on the underpinning theories which are Techniques of Neutralisation, Reactance Theory, Deterrence Theory, Theory of Planned Behaviour, and Protective Motivation Theory particularly in the South African banking industry. Subsequently, with an improved understanding of the information security behaviours, the bank can implement measures to support and assist their employees with understanding the impact of their information security behaviour and create a mutually beneficial information security ecosystem for the bank and its employees.
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    Effect of Technical Competencies of Women in Core Mining Activities on Team Operational Performance in South Africa
    (2023) Munilal, Suneshnee; Ndaba, Zanele
    The objective of this study was to establish the relationship between the technicalcompetencies of women in the core mining activities and team operationalperformance in the South African mining industry.A gold-mining company in South Africa was selected for this study and 15 interviewparticipants were chosen based on their discipline being a core mining activity.Thematic analysis was used to analyse the collected data and the common themeswere concluded.The findings of this study highlighted that the issue of inclusion of women in the coremining activities is not a matter of the technical competencies of women, but ratherthe lack of exposure of women in the technical environment, which disadvantageswomen from having the technical competencies required for team operationalperformance. Women have the technical competencies to thrive in the mining industryand the technical competencies of women are comparable to those of their malecounterparts.The lack of inclusion of women in the mining industry is also due to prehistoricmisconceptions of women in a technical environment, and this social exclusion ofwomen can be resolved by leaders in the mining industry making a deliberate effort togive recognition to women who are keen to succeed in the harsh mining industry.Women who have the technical competencies in the core mining activities should beselected for technical roles based on their identified technical competencies.The technical competencies required to thrive in any core mining activity are problem-solving skills, decision-making skills, delegation of tasks, listening and communicationand knowledge of risk and safety management, planning, task scheduling, peoplemanagement, and team collaboration and cohesion.It was found from this study that women are more risk averse than men and women-led teams in the mining industry have been found to have improved safety statistics
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    New Business Venture Proposal
    (University of the Witwatersrand, Johannesburg, 2024) Motsieloa, Ntseuoa Cletus; Appiah, Erasmus
    Tourists enjoy visiting Lesotho for its unique mountains, scenic views and culture and thecountry has attracted many tourists internationally. Tourism in Lesotho has been studiedfor years by many stakeholders as far back as 1980 by Lesotho government, UnitedNations and World Tourism Organisation (UNWTO) and others. The studies advisedgovernment to use tourism development as way to alleviate poverty and create jobs. Thestate of tourism in Lesotho is still in early development and various opportunities areavailable for new entrants to offer unique offering and experiences.The study is a New Venture Proposal i.e. startup with focus to explore recreational andaccommodation facilities in the sector. In this study tourists’ needs are studied andanalysed to identify customer needs prior. Demographics of Lesotho tourism is studied toidentify market segment and what inspires the needs and demands for travelling. Althoughlack of customer services & market-ready tourism & accommodation facilities is found tobe a challenge for the sector, in this proposal it is taken as a unique opportunity for newventure.The theoretical models by Cohen and Plog were used to identify the type of tourists basedon their needs and motivations for travelling. The Plog model shows that undevelopedtourist market (like Lesotho) attracts more of allocentric tourists i.e. the wanderers, andthese are those of high-income brackets. However, the income bracket may not be a goodmeasure as the Mid-Centric tourists are high in numbers, meeting the volumes for highsales with higher profit margins. This venture proposal is targeting Mid-Centric tourists,psychographic as well as allocentric as per Plog’s model since the market has high demandand untapped supply.The qualitative research methodology was used as this is exploratory type of research viainterviews to study tourists and their needs/behaviours. The research participants includedamongst others, entrepreneurs in the sector, industry leaders and general tourists toLesotho. The data collected was structured via thematic analysis including demographics,travel patterns (length of stay in stay), motivations, interest, and customer satisfaction toidentify market segment and marketing strategy for target customer.Hotel Development with recreational amenities was found to be a suitable offering for theventure within the accommodation & recreational facilities and amenities sector. There isiii | P a g eonly one hotel that offers a 5-star rating in the whole country, many are 3 and 4 stars. Asuitable offering will comprise a mixture of 3, 4 and 5 stars depending on the level ofservice, amenity types and customers willingness to pay.The development will be financed via a mix of both equity and debt financing to reduce highdebt financing costs, while not losing ownership and powers of the business. Sensitivityanalysis was done for 50 rooms with occupancy rate of 50% and 60% at room rate of R5000and R4500 respectively. An average annual return on investment (ROI) of 12 % wascalculated for 60% occupancy rate and 10 % for 50 % occupancy rate respectively. Thecash-on-cash return was calculated to be at 20 % for 50 % occupancy rate, and 24% for60 % occupancy rate respectively. 100 rooms were also used in the sensitivity analysis for60 % occupancy rate, although the occupancy rate is favourable, the ROI remainedunchanged at 12 %.
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    Competitiveness and Profitability of e-Hailing Vehicle Ownership in South Africa
    (University of the Witwatersrand, Johannesburg, 2024) Balekwa, Bingo; Malikane, Christopher
    A qualitative research method is employed to examine the competitiveness and profitability of owning an Uber and/or Bolt vehicle(s) in the e-hailing industry, in South Africa. In-person interviews were conducted with the use of unstructured paper-based questionnaire, on which participants’ responses were recorded. Porter’s Five Forces model is adopted as the research theoretical framework. A total of eight randomly selected participants from Uber and Bolt were involved in the study. Four interviews were conducted in the city of Johannesburg, in the Gauteng province, and four in the city of Durban, in the province of KwaZulu Natal, in South Africa. The results are based solely on the Uber and Bolt drivers’ personal experiences and perceptions. Part of the data was recorded from the Uber and Bolt drivers’ applications installed on the cellular phone device, that are used to conduct business. The results show that profits are significantly low, with the lowest monthly profit of just over R900, for one vehicle. All drivers interviewed, operated with fully owned vehicles that were not financed through debt. Competition is significantly fierce in the e-hailing industry in South Africa, with each Uber or Bolt vehicle driver having only 10% - 20% probability of securing business at any instance on a normal day. Lack of stringent regulations by the government, in the industry, also gives rise to unfair competitive advantage for (and rivalry between) some drivers. A lack of barriers to entry is significant, owing to establishment of regulations by the government
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    Impact of Telemedicine, Telehealth and Virtual Online Consulting in the Nephrology Paradigm in South Africa
    (University of the Witwatersrand, Johannesburg, 2024) Ayoob, Naeema; Oro, Oro Ufuo
    The study is aimed at assessing the impact of telemedicine and telehealth, particularly the use of virtual consults with dialysis patients. The uniqueness of this study is that it allows clinicians the opportunity to provide nephrology care to patients at distant areas from various sites nationwide and globally. This research is not intended to set out the ideal or best practices for the chronic kidney disease (CKD) setting or to recommend the code of conduct to adhere to, but rather to contribute towards the current literature and adapting behaviors that facilitate excellent health outcomes. In this way, the research project seeks to care for the health profession in South Africa through adopting and incorporating new innovations and technologies into everyday processes and practices. Chronic kidney disease patients on dialysis require frequent and regular attention from the clinician; however, nephrologists are limited globally; particularly in South Africa. Thus, clinicians find it difficult to attend to multiple dialysis units simultaneously. The use of telenephrology will transform the dynamics of renal care globally as this allows for one doctor to attend to multiple units and liaise with peers. This study assesses the impact of telenephrology, via multifaceted and innovative modalities that will revolutionize the care and outcome of CKD and kidney replacement therapy (KRT). The study seeks to create awareness on the importance of telenephrology in the treatment of kidney disease. In order to achieve the main objective. The study will evaluate clinicians and patients’ perception to use and reuse the technology and its’ influences on patient confidence in treatment.
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    Perceptions and Adoption Trends of Artificial Intelligence in Portfolio Construction and Management in the Financial Services Industry of South Africa
    (University of the Witwatersrand, Johannesburg, 2024) Agjee, Zeyn; Horney, Sylvester
    The adoption of Artificial intelligence (AI) in portfolio construction promises to revolutionise financial services, offering opportunities to enhance efficiency, foster innovation, and drive disruptive change. This qualitative study investigates the perspectives and adoption trends of AI-driven portfolio construction methods among South African financial services organisations. The research uncovers attitudes, challenges, and aspirations surrounding AI adoption through in-depth interviews with nine industry professionals. The study finds that while there is widespread enthusiasm within the industry for AI adoption in portfolio construction and the industry, professionals express reservations about trust, lack of understanding, data challenges, costs and AI's efficacy in navigating the complexities of the South African market. The study highlights complexities in AI adoption, including transparency, regulatory compliance, accountability, data considerations, overfitting issues, human-machine interactions, lack of agility in companies and potential job displacement concerns. Despite the increasing acceptance of AI in investment management, significant obstacles persist, necessitating concerted efforts to address problems and cultivate trust and openness within the industry. The paper presents valuable insights into the patterns of AI adoption in South Africa, offering practical recommendations for industry practitioners, policymakers, and researchers. It emphasises the importance of trust-building strategies among industry practitioners, highlighting the need for transparent communication and ethical considerations throughout AI adoption. Additionally, the paper underscores the role of policymakers in developing regulatory frameworks that promote responsible AI integration, advocating for guidelines that uphold ethical principles and protect consumer rights Further, there is a call for continued support for research and development efforts tailored to the South African market, aiming to address specific challenges and foster innovation in AI technologies. Overall, the findings emphasise the necessity of collaboration between stakeholders to ensure the ethical and widespread practical adoption of AI in South Africa's financial sector
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    An empirical study of perceived usefulness, ease of use, risks and the intention to use mobile marketing by millennials in Botswana
    (University of the Witwatersrand, Johannesburg, 2024) Shukla, Shuchita; Mgiba, Freddy
    The use and impact of mobile marketing platforms have significantly increased in the Botswana market over the last few years, especially during the nationwide lockdown resulting from the COVID-19 pandemic. To better understand this, this research applied the technology acceptance model (TAM) and social penetration theory (SPT) to study the impact of perceived usefulness, ease of use and risks on millennials' intention to use mobile marketing in Botswana. The findings of this study showed that (a) perceived pessimism and privacy issues do not have a negative impact on the final intention to use mobile marketing platforms, while (b) perceived usefulness, ease of use, trust, financial issues and invasiveness does have an impact on the user’s final intention to use mobile marketing platforms. The results of this study offer academic and managerial implications that can contribute to businesses engaged in or intending to engage in mobile marketing strategies
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    The effects of coronavirus on SMEs business performance, technology adaptation, financial innovation, and sustainability
    (University of the Witwatersrand, Johannesburg, 2024) Kolobe, Benjamin; Maisela, Sikhumbuzo
    Businesses have been severely impacted by the COVID-19 pandemic, which has resulted in significant economic hardship. An analysis of COVID-19's impact on Small Medium Sized enterprises (SMEs) shows that these businesses' and their employees' financial outcomes are probably going to get worse before getting better. The main issue is that small and medium-sized business owners have restricted access to capital and innovative strategies, which has made it challenging for them to deal with the tight constraints. As a result, many SMEs have had to adopt innovative financial and technological strategies to promote sustainability and prevent closure (Puddister & Small, 2020). This study examines the impact on business performance, technology adaptation, financial innovation, sustainability, and lockdown restrictions of SMEs during the pandemic. An online questionnaire with 30 closed-ended questions was administered to entrepreneurs in the retail sector across Gauteng. The following inquiries are addressed in the study: What impact has the coronavirus had on SMEs' ability to do business? How has technology adoption improved small and medium- sized enterprises' performance during the coronavirus lockdowns? Is there a chance that financial innovation may sustain SMEs throughout the pandemic? Has the coronavirus epidemic affected SMEs' ability to survive? Using non-parametric tests, the researcher examined the correlations between the independent and dependent variables for each of the four hypotheses using IBM SPSS. The associations between the variables were examined using inferential statistics such as Spearman's rho correlation function, multinominal logistic regression, generalized linear model, and ordinal linear regression. All four of the hypothesis' correlations were determined to be significant. This study suggests that fostering financial inclusion, promoting technology adoption through training and grants, and encouraging innovative financial approaches can empower SMEs to navigate pandemic challenges and build resilience. Proactive policy interventions and support systems tailored to SMEs are crucial to mitigating the pandemic's economic consequences and promoting long-term sustainability
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    “Communication Agents Impacting Consumer Green Training and Competencies: Moderating Role of Creativity”
    (University of the Witwatersrand, Johannesburg, 2024) Piperidis, Konstantinos Georgios; Duh, Helen Inseng
    Marketing management scholars are examining the extent to which knowledge, skills and competencies in environmental management assist in protecting the environment while gaining economic benefits. However, there are questions as to the communication agents developing the green training and resultant competencies. Thus, this dissertation employs the Ability- Motivation-Opportunity (AMO), Socialisation, and Natural-Resource- Based-View (NRBV) theories that guided the development of a conceptual model to examine the extent to which four socialisation agents (peer, family school, and media) impacted green training and ultimately green competencies. The research also examined the mediating role of green training and the moderating role of green creativity in how much green training drives green competencies. Quantitative data was collected from 425 students and non-student respondents through online questionnaires. SPSS was used to examine descriptive statistics and SmartPls was used to conduct structural equation modeling (PLS-SEM) for the testing of the hypotheses. The results revealed that the socialisation agents (i.e., peer, family, school, and media) significantly impacted green training, which in turn significantly impacted six dimensions of green competencies (i.e., green knowledge, green skills, green awareness, green ability, green attitude, and green behaviour). Green training mediated all the relationships between the socialisation agents and green competencies. Consumer creativity significantly moderated the relationships between green training and the awareness and knowledge dimensions of green competencies even though negative. Environmentalists and consumer interest groups would benefit from this study by identifying the communication agents that can best train consumers to consider the environment in their consumption behaviours and develop competencies in assisting in environmental protection. Marketing practitioners and social marketers can also benefit from the knowledge of which communication agents can be best targeted to educate customers and develop their green competencies, while their green creativity makes its influence.