Faculty of Commerce, Law and Management (ETDs)

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Survival strategies after job losses in female-headed households during COVID-19
(University of the Witwatersrand, Johannesburg, 2024) Masinga, Pertunia; Mackett, Odile
This study provides an analysis of the effect of COVID-19 on female-headed households, who lost their jobs during the pandemic and how have they stayed afloat. The effects of COVID-19 did not fall equally on both men and women, and some researchers suggest that it is because jobs that were affected were occupied by mostly women (Casale & Shepherd, 2021). The study conducted a qualitative interview with 15 participants to gain an understanding of the survival strategies employed by female- headed households after job loss during the COVID-19 pandemic and how these households stayed afloat. Findings from the study indicated that after job loss during the pandemic female- headed houses faced everyday struggles for survival. Different strategies for survival have been developed by these households consisting of starting food gardens and using a discretionary method for reducing expenses to feed their families. These households relied on social grants, informal jobs, and financial assistance as a source of household income during the pandemic. This study revealed that to survive during the pandemic without an income and providing for the needs of the family, female-headed households used a variety of strategies. Therefore, this study provides insight and understanding into the survival strategies employed by these households during the time of COVID-19.
The socio-economic effect ofcovid-19 on households in Epworth, Harare
(University of the Witwatersrand, Johannesburg, 2024) Mashatise, Memory Tinotenda; Pillay, Pundy
This research report explores how COVID-19 impacted households on a socioeconomic level. Epworth, a peri-urban suburb of Harare, was the study's research location. This study focuses on the Southern African context, where social distancing and lockdowns implemented by governments in order to curb the spread ofthe COVID-19 pandemic in the year(s) 2020, 2021, as well as 2022. Most specifically,the government of Zimbabwe, being the government, this study focuses on implemented measures that had persistent negative socioeconomic effect on households by disrupting livelihoods, businesses, and other sources of income. Sucheffects were not only experienced during COVID-19, but also in the after of the pandemic. Maslow's Hierarchy of Needs was utilized as a theoretical foundation to frame the research in examining how the COVID-19 epidemic affected Epworth households. The premise of Maslow's Hierarchy of Needs theory emphasizes the value of human needs and how implemented regulations led to scenarios where citizens lost opportunities for economic survival and stability for their individual and households' material well-being. Consequently, such a crucial point is well placed within Maslow's identified need for safety, and security. Literature reviewed specified that the weakened economy and social problems in Zimbabwe, such as unemployment, poverty, inadequate healthcare, and a lack of supplies for COVID-19 treatment, predominantly exacerbated the pandemic's adverse effects. Semi- structured interviews with 15 breadwinners in Epworth aged 18 to 64 were used for qualitative research. After interview transcription, the data was examined through thematic analysis. The findings of the research demonstrated the need for better access to essential services in the sense that the majority of individuals experienced restricted access to such services as a result of implemented lockdowns. Due to the COVID-19 pandemic's detrimental effects on people's freedom of association, mobility, people began adopting strategies including returning to live with relatives and lowering expenses. Furthermore, self-employed and employed people were found to have been severely affected by the outbreak of the pandemic. To support youth, notably breadwinners for children whose parents lost their lives and jobs due to COVID-19 effects, It is recommended that that the business sector and government authorities ought to create economic opportunities. Lastly, it is ii recommended that breadwinners diversify their sources of income.
A review of the right to basic education, the 2020 Covid-19 related schools' shutdown, and the courts in South Africa
(University of the Witwatersrand, Johannesburg, 2024) Booi, Ntombizinhle Princess
Owing to COVID-19, the South African government ordered the closure of educational facilities in the country to try and curtail the spread of the virus. At the time, no one knew the extent to which the virus had spread, its potency for the South African public, how it impacted on children and what actions the government could take, besides locking down the country. Both the government and the public were facing a pandemic of this kind for the first time. However, the closure of schools placed the educational rights of learners under a spotlight, as under the Constitution of the Republic of South Africa, 1996, basic education is a right. The closure of the schools had many consequences for the right to basic education, including that education delivery, as it was then known, had to be changed. Yet, it is reasonable to assume that many schools were ill equipped for the sudden change which could not have been foreseen. To this end, there had to be a way forward for schools, and online learning became a viable avenue for ensuring that education did not come to a standstill. Yet again, it is reasonable to assume that many schools would not have had the capacity to transition to, let alone facilitate and maintain, online learning. A preliminary conclusion then would be that COVID-19 had a direct impact on the right to education. This is only the start, however, because the next line of inquiry would be whether the decision of the state to close educational facilities through the lockdowns was reasonable, and consequently justified considering the limitation it brought to the right to education. This report concludes by examining two cases that addressed these questions.
Consumer behavior: an investigation into how motivational factors influence online consumers’ impulse purchases of fashion items
(University of the Witwatersrand, Johannesburg, 2024) Mahomed, Asiya
The global growth of online retail in the last decade has played a major role in altering consumer behavior. A key behavioral trend has been the rise of ‘impulsive buying’, a phenomenon that continues to grow significantly in South Africa in particular. However, in part due to its novelty and rapid emergence during and after COVID-19, the nature of and the decision-making processes behind online impulsive buying have been largely unexplored. Both retailers and marketers alike have therefore sought to understand its role in order to maximize market potential. As such, this study aims to provide new insight by building on existing literature about online consumer behavior. It determines the motivations that influence impulsive buying in online retail fashion consumers, as well as how their level of involvement or interest in fashion influences their decision-making. Using a deductive, quantitative approach and collecting data sets through survey questionnaires of 510 millennial South African consumers, the study focuses on two types of motivational factors; Utilitarian and Hedonic, in order to understand the phenomenon. Applying a moderation model, the study uses statistical analysis to demonstrate that fashion involvement can act as a moderating variable that could influence the relationship between the two factors and impulsive buying behavior. It finds that fashion involvement has a negative relationship with the utilitarian effects of price, and the hedonic effects of sensory and stimulation elements. As the regression co-efficient for these interactions is closer to zero (p<.05 or lower) with a 3-4 % variance in impulse product purchase in the macro model used, the study indicates that the impact of these elements on impulsive buying decreases as a consumer’s level of interest in fashion increases. The research ultimately contributes to the literature by explaining these relationships through the moderation model and its theoretical underpinnings. Despite its focus on a small data set drawn from the South African context, it is hoped that the study’s findings may encourage further research on a wider scale, and help marketers and online retailers develop and improve the practical efficiency of their online marketing strategies to harness impulsive buying behavior.
Diversification benefits of SA REITs in a mixed asset portfolio: one decade and a pandemic later
(2023) Mphaho, Masilo; Kodongo, Odongo
Volatility spillover between financial markets causes inefficiency of diversification. Therefore, other investment alternatives are required to build an optimal portfolio, one of them being Real Estate Investment Trusts (REITs). The low correlation between REITs and stocks implies an advantage of diversification in an investment portfolio containing both assets. An important implication of this finding is that if stocks and REITs are incorporated into an investment portfolio, the investor will have better diversification benefits. This paper looks at the diversification benefits of having REITs in a mixed asset portfolio by conducting an empirical study from when the REIT regime came into effect in South Africa 10 years ago, particularly focusing on the period between 2013 and 2023. The econometric tools used in this regard include cointegration and, time series models (VAR and VECM) for forecasting. The paper also considers how the COVID-19 pandemic has affected this relationship by conducting a mean-variance spanning test to see if the inclusion of REITs in an existing portfolio dominates it. Other measures such as Sharpe ratios and Efficient Frontiers are included for analysing portfolio performance. Therefore, providing a mature analysis of REITs continuing from current literature and assisting Fund Managers in understanding the impact of including the asset class in a portfolio with a long-term investment horizon. This study affirms the low correlation between REITs and other stocks and further shows that they are not affected by shocks in the bond and stock markets respectively while also having the potential to improve the risk-adjusted returns of a Portfolio. Therefore, Fund Managers can consider REITs for their portfolio diversification strategies.
The adoption of AI in the South Africa Supply Chain Industry
(University of the Witwatersrand, Johannesburg, 2024) Naidoo, Prenesen; Oba, Pias
The adoption of Artificial intelligence (AI) in supply chain management shows great promise for the future, by identifying and removing waste, which in turn will increase efficiencies and competitiveness within the supply chain industry. The COVID-19 pandemic has fast tracked the use of technology and AI is no different to other technologies. The significance of the research is to unpack the influence of AI adoption within one of the major industries in South Africa, the study focused on South Africa which has a unique socio-economic landscape. The study unpacks how this influences AI adoption, for example, the skills required to deploy and maintain AI, as well as the potential impact on employment (in a country with a high unemployment rate). The study evaluated the readiness for AI adoption in the country. The study analysed a company that has recently been purchased by an international conglomerate, although the company is a major player in the South African supply chain. The researcher used interviews conducted with executives (senior roles), at a company, as well as existing literature to understand the current adoption of AI in South African supply chains. Thematic analysis of the qualitative data was employed to identify trends in the adoption of AI and understand frameworks that may have been used in the adoption. The research found that there was a case in South Africa for the deployment of AI in the supply chain industry, although South Africa does not have the required socio-economic environment for AI to be deployed, due to the high unemployment, and low readiness for AI adoption, as well as low skills for AI adoption. The implication of the study is understanding the current view of iii where AI adoption falls in the supply chain industry from a priority perspective. Is there an appetite for companies within the Supply Chain industry to adopt AI. The research concludes that a more in-depth study is required extending the research beyond one organisation.
Crypto Connections: Unravelling African Stock Markets and Cryptocurrencies in the COVID-19 Era
(University of the Witwatersrand, Johannesburg, 2024) Marcus, Howard; Odei-Mensah, Jones
Since their introduction in 2019, cryptocurrencies have become increasingly popular in the African markets. Cryptocurrencies are seen as disruptive technology based on cryptographical technologies and do not share features related to the real economy. Based on this characteristic, one hypothesises that these assets are a perfect diversification instrument during periods of high volatility, particularly as portfolio managers look for new avenues to manage risk. The main aim of this study was broadly focused on the interdependence and co-movement relationship of cryptocurrencies and African stock markets during periods of severe market stress, such as during the COVID-19 pandemic. This study was mainly concerned with those aspects of connectedness that relate to transmission through financial markets. This study sought to examine the co-movement relationships, determine the extent of integration and establish the direction of spillover by replicating modelling techniques proposed by Diebold and Yilmaz (2009; 2012) and Barunik and Krehlik (2018). These techniques measure connectedness using a spillover index, which follows a variance decomposition approach of a vector autoregressive model. The second technique allows for the estimation of connectedness to variables because of heterogeneous frequency responses to shocks. By studying the connectedness of Bitcoin, Ethereum, Tether, Binance Coin, and XRP and the five largest African stock markets based on market capitalisation (South Africa, Nigeria, Morocco, Egypt, and Kenya), the study observed that the COVID-19 sub-sample period contributed most to connectedness at 31.79% relative to the pre-COVID period at 23.67%. The highest contributors to connectedness in both periods are Bitcoin and Ethereum, with Tether being the lowest. These results indicate that information flow mostly comes from the stock markets rather than cryptocurrencies. Also, from the frequency-domain results, across both periods, the most significant contributor to connectedness is observed in the short-term being frequency 1, accounting for 17,74% and 24.77%, and frequency 2, 4.35% and 5.16% in the pre-COVID and COVID periods respectively, while the medium- term and long-term accounting for relatively more minor proportions. Thus, contagion is highest in the short term given connectedness results, thus leading to lower diversification across the short term; however, diversification benefits are noted across more extended term periods. In addition, in the longer-term period, the change in connectedness is relatively tiny. The findings of this study suggest that cryptocurrencies could be an alternative to diversifying risk in African equities. Diversification is essential for long-term investors and regulators as they build resilience in the financial markets during a crisis. This study informs policymakers and governments on the need to regulate markets to optimise diversification, safe haven, and hedging benefits across varied market conditions
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
Business model innovation in South African companies under the changing post-COVID-19 world of work
(University of the Witwatersrand, Johannesburg, 2021) Hlabathi, Katekani; Mzyece, Mjumo
Businesses that have survived pandemics and other major global disruptions have demonstrated the importance of continually re-evaluating their business models. Implementing business model innovation has been shown to significantly enhance a business's chances of surviving major global disruptions. This study aims to determine how the application of business model innovation, particularly in South African enterprises, has enabled these businesses to survive and remain profitable in a changing work environment, especially during the COVID-19 pandemic. In this context, business model innovation refers to the creative introduction of new ways of the business providing value to their customers through the products they sell or services they provide. A qualitative study with ten (10) respondents from South African enterprises was conducted to test the proposition that businesses who apply business model innovation in pandemics, such as the COVID-19 pandemic, will survive and become even more profitable. The study was conducted in several enterprises from different industries, using interviews and questionnaires. The study aims to provide a possible framework to be used by businesses during pandemics and to provide a basis for further research on the subject. The study's key findings show that there are both internal and external factors that influence the implementation of an innovative business model. COVID-19 was rated highly as an influence that is top of mind, affecting how firms conducted their businesses today. The study also revealed that customers and stakeholders are key to developing an innovative business model. The limitations of the study relate to the number of respondents and their location. This was a direct effect of the qualitative nature of the study and the physical and other restrictions due to COVID-19; thus, the results may not be widely representative or fully replicable. Nevertheless, overall, the study indicates that business model innovation could give businesses the competitive advantage and the differentiation needed to succeed during times of uncertainty.
The Impact of COVID-19 on Jobs, Skills and Skills Development in South Africa
(University of the Witwatersrand, Johannesburg, 2021) Leeuw, Lucinda
The scale of the COVID-19 pandemic has no equivalent in modern history. The pandemic has tested the economic and social resolve of the economies across the world. It has altered the world of work and accelerated the adoption of the Fourth Industrial Revolution in society, the economy and across sectors. For South Africa to prepare for the future, the changing world of work and learning must be understood in the South African context. An assessment of the pandemic’s implications on jobs, skills and overall skills development is crucial for the economic growth of the country. Skills development and education have always been considered critical in addressing South Africa’s triple challenge of poverty, inequality and unemployment. However, the pandemic also presents a window of opportunity to review existing trends in the economy, development and policy to ensure that present challenges do not become permanent, unsolvable problems in the country. It is therefore important to understand the social and economic context of the pandemic on education, skills and jobs—as a means towards sustainable growth—in an unfolding, dynamic and digital environment. One way for the country to carve a path out of the chaos wrought by the COVID-19 crisis is the pursuit of knowledge-creation in crucial areas of development and economics. This research, through the analysis of recent data, identifies pressure points for the South African economy and skills system. The research also identifies areas of opportunity for responsiveness and the sustainability of jobs, skills and skills development in South Africa given the scale of the social and economic change induced by the 2020 crisis

Faculty of Commerce, Law and Management (ETDs)

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