Faculty of Commerce, Law and Management (ETDs)

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    Challenges of Entering New Pharmaceutical Markets in Nigeria and Ghana
    (University of the Witwatersrand, Johannesburg, 2024) Motshoane, Thato Sebabatso
    Background: The pharmaceutical market is renowned for its stringent regulations and continuous production of superior drugs and products intended for human consumption. This study investigates the regulatory landscape of two African countries, namely Nigeria and Ghana, and the challenges of entering these economies as a result of the absence of regulatory harmonisation. The goal is to establish a regulatory framework that will facilitate the introduction of novel medicines and medical supplies into the market. Method: The research methodology employed involved the collection, processing, and evaluation of empirical evidence. The chosen strategy was qualitative research. Results: Entering new or foreign pharmaceutical market requires careful consideration, planning, and abiding by the regulatory requirements of the respective countries. Sustained prosperity will be guaranteed by enhancements in quality control and partnerships with local distributors and manufacturers. Partnering with local consultants who are familiar with the regulatory landscape, as well as local laws and policies is crucial. Lastly, it is important to be familiar with regulatory requirements from NAFDAC and the FDA to ensure ongoing compliance with evolving regulations. Conclusion: Improving the local pharmaceutical market in both countries encourages the entry of foreign international pharmaceutical corporations, thus stimulating the economy of both nations. Local pharmaceutical companies in Ghana and Nigeria can strengthen their competitive edge by increasing barriers to entry. This can be achieved by raising the calibre of goods produced, increasing operational effectiveness, lowering production costs, and engaging in local innovation initiatives. Locals should maximize local government subsidies while utilizing the local context, including the nation's culture and consumer base to their advantage
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    The Impact of the Metaverse on the South African Insurance Industry
    (University of the Witwatersrand, Johannesburg, 2023) Mia, Rashad; Quaye, Emmanuel
    The internet is evolving, where virtual reality and artificial intelligence converge to create a more immersive online experience. This revolutionised digital space will allow users to interact and transact virtually with more users more efficiently. This will impact the way we live, work, and socialise. Despite multiple articles discussing the metaverse and its relational impact on the insurance industry, this research paper aims to understand the metaverse from different South African perspectives, and through virtual one on one interviews; participants were interviewed to unpack further potential risks and benefits of the metaverse on the South African consumer. This also led to perspectives on the potential insurance landscape within virtual worlds and the type of products and services that could stem from. The thematic analysis of the insurance landscape in the metaverse provided insights into emerging trends and opportunities in the space that covered themes such as virtual property insurance, cyber insurance, digital identity, reputational insurance, and personalised insurance products that could be developed to tailor individual needs. In terms of risks and benefits, the data and information highlighted themes that touched on addiction, privacy and security, social isolation as well as financial risks. On the other hand, the benefits mentioned were enhanced social experiences, access to new experiences as well as professional opportunities. The research of this paper intends to provide a localised viewpoint of insurance in South Africa and how such a highly regulated industry will pivot, if at all, towards the inevitability of the metaverse.
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    Opportunities and challenges of open banking in South Africa
    (University of the Witwatersrand, Johannesburg, 2022) Dreyer, Tanya
    There is much hype and speculation around the potential of open banking to increase financial inclusion and competition among incumbent banks in developed and developing economies (Plaitakis & Staschen, 2020 and Zeller & Dahdal, 2021). Mastercard has gone so far as to call it “the most transformational trend in banking since digitization” (Mastercard, 2020). The purpose of this study is therefore to assess the challenges and opportunities of implementing open banking in South Africa as well as potential frameworks for implementation. Further as the existing knowledge base for open banking is globally limited and predominantly focussed on developed economies, it is vital to publish information from the perspective of an emerging economy that is also one of the largest economies in Africa.