Faculty of Accounting and Informatics

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Administration practices affecting environmental compliance by small and medium-sized enterprises in the manufacturing sector
(2022-12-07) Maphumulo, Jabhisile Roxetta; Dongwe, Khethiwe; Nyide, Celani John
The significant role of Small and Medium-sized Enterprises (SMEs) and their contribution towards the growth and development of the countries’ economies are acknowledged globally. SMEs play a crucial role in transforming socioeconomic conditions and are driving the economy by availing employment opportunities and fuelling the demand for goods and services. However, regulations and legislations are the important constraints to SME growth in developing countries. One of the common causes that lead to the failure of some SMEs is that owners have limited awareness of the environmental legislations and lack managerial skills that will help with carrying out administrative practices required to comply with these legislations. The result of lack of awareness and poor entrepreneurship is shown by the high number of SMEs closing down annually in South Africa due to noncompliance. Therefore, the purpose of this study was to examine the administration practices adopted by SMEs in the manufacturing sector within Msunduzi Municipal boundary, and to establish how the environmental compliance can be enhanced by these entities. This study adopted a quantitative research approach using a 5 point Likert scale closed-ended questionnaire as a data collection instrument. The questionnaire was distributed to managers and administrative personnel of the participating SME in the manufacturing sector. Probability sampling method was adopted to narrow down the sample size to 215 respondents. The data collected from respondents was analysed using the Statistical Package for Social Sciences (SPSS) version 25.0 and Microsoft Excel. Results from data analysed show that there was a consensus that complying with environmental regulations is compulsory, therefore compliance is vital. Furthermore, the results indicate that among the administration practices for compliance identified, obtaining a licence to operate was paramount for the SMEs to operate legitimately. Respondents did not confirm if the compliance assessment reports were kept as a record for environmental compliance. The results indicate that employees were uncertain as to which environmental regulations they are complying with by completing the tasks assigned to them. Off concern, they were not in agreement that environmental compliance is prioritised within the respective SMEs.
Adoption of mobile cloud computing by small and medium-sized enterprises (SMEs) in rural areas
(2023-10) Cele, Noxolo Pretty; Govender, Mogiveny; Rajkoomar, Mogiveny
This study was conducted in the rural areas of KwaZulu-Natal (KZN) province of the Republic of South Africa. These rural areas includes uMbumbulu, Hlokozi, Eluphepheni, and KwaMakhutha. The main aim was to examine various factors that affect the adoption of Mobile Cloud Computing (MCC) by SMEs located in these areas. This study was motivated by benefits of MCC in various sectors around the world. This includes the provision of cloud-based services to users through the Internet and mobile devices. The current study is of the view that providing MCC to small and medium sized enterprises (SMEs) in rural areas can help them leverage cloud computing resources to improve their performance and delivery of services to customers. A quantitative research strategy was employed to obtain greater knowledge and understanding of the factors that affect the implementation of MCC by SMEs in the indicated rural areas, aiming to produce objective data that can be clearly communicated through statistics and numbers. The online survey was administered to owners, managers, employees and customers of these SMEs. The collected data was later analysed through Excel and the Statistical Package for the Social Sciences (SPSS) version 25. The results of this study reveal that, according to the customers’ point of view, SMEs in rural areas will be able to adopt MCC if there are adequate technological devices. The results suggest that relative advantage (RA), perceived security, perceived ease of use (PEU), and attitude are some of the factors that need to be considered for SMEs in rural areas to successfully adopt MCC. The findings also signal a strong correlation between perceived need, technological devices, compatibility, RA, complexity, trialability, and observability, when measured against MCC. In summary, the results indicate the importance of doing proper research before adopting cloud-based services in order to identify the need for MCC adoption. Significantly few respondents showed resistance or doubt regarding SMEs‘ adoption of MCC.
African women entrepreneurs and COVID-19 : towards achieving the African Union Agenda 2063
(AOSIS, 2022-01-01) Anwana, Emem O.; Aroba, Oluwasegun Julius
Research on the challenges facing African women entrepreneurship and the impact of the coronavirus disease 2019 (COVID-19) pandemic is scant. This article explored the challenges and the impact of COVID-19 on African women-owned businesses and the effect thereof on the 17th goal of the African Union (AU) Agenda 2063. African women entrepreneurs experience many social inequalities, ranging from cultural norms to family to legal and regulatory measures to accessing finance. The COVID-19 pandemic exacerbated these challenges as many African women entrepreneurs have been forced out of business because of measures taken by African governments to halt the spread of the disease. The article reviewed current literature on African women entrepreneurs and the impact of the COVID-19 pandemic using two databases and is based on a total of 104 published articles. The article provided a foundation for post-COVID-19 policy directives in Africa. The authors recommend measures to mitigate these challenges and discuss strategies for policymakers to re-position African women entrepreneurs for the post-COVID-19 era towards achieving AU Agenda 2063 and realising the Africa we all want. Contribution: The study aligns with the United Nations Sustainable Development Goal of ending poverty in Africa and the AU Agenda 2063 goal of achieving gender equality and empowerment of all women and girls to achieve the Africa we all want.
The alleviation of information poverty in a selected small-scale farming community in KwaZulu-Natal
(2023-04-12) Zondi, Nombuso Phamela; Moyane, Smangele Pretty; Nkomo, Ntando
Information is crucial to human development, yet crucial as it is, rural communities are experiencing information poverty. It is recognized that rural South Africans who survive on the main through farming are confronted by information poverty as a significant barrier to their development. Access to information has been identified as one of the most significant barriers confronting rural small-scale farmers. The problem of information poverty in rural small-scale farming communities is a critical issue that must be addressed if a country desires to develop. This study therefore examined the alleviation information poverty in a selected small-scale farming community in Kwazulu-Natal. The objectives of the study were to establish the information needs of the selected small-scale farmers, determine factors that influence information poverty for the selected small-scale farmers, ascertain whether the selected small-scale farmers are information poor in accordance with Chatman's (1996) information poverty theory and to determine the strategies employed and needed by the selected small-scale farmers to address information needs for the aim of alleviating information poverty.The study was guided by Elfreda Chatman's (1996) Theory of Information Poverty which views information poverty, as situations in which people are hesitant to disclose or seek for assistance for needed information because they feel isolated. An interpretive paradigm employing qualitative research in an exploratory research design was adopted. The population targeted was rural small-scale farmers of ward thirteen in Swayimane, KwaZulu-Natal. In the absence of a sampling frame, the study employed purposive and convenience sampling methods. Data yielded from three focus groups was analysed using thematic analysis. The study found that small-scale farmers’ information needs were chiefly crop soil requirements, market information, and guidance on livestock production and maintenance. Furthermore, adult education, ICTs, and library services were important needs for both young and older members of the community. The findings indicate that the information poverty faced by rural small-scale farmers is influenced by several factors. Among the factors were low family income brought by a lack of employment opportunities, rural small-scale farmers' isolation from essential services, a lack of government intervention, and small-scale farmers’ cultural beliefs deemed to be backward. The findings showed that rural small-scale farmers distrust information they receive from outsiders, which is consistent with Chatman's theory of Information Poverty that individuals who are information poor mistrust outsiders. The findings, however, contradict Chatman's claims that informationpoor people are averse to sharing their needs with outsiders. The study revealed that rural small-scale farmers rely heavily on agricultural advisors, seasoned farmers, radio, and word of mouth for information. With regards to the strategies needed by small-scale farmers to address information poverty, the study found that government intervention, easy access to the internet, and an increase in the number of agricultural advisors were crucial. The study recommends increasing the number of agricultural advisors to provide small-scale farmers with more immediate support; establishing a library facility to offer library services to fill information gaps; adding more agricultural programs on radio and television to cover a wide range of small- scale farmers informational needs; offering ABET programs to reduce illiteracy among rural small-scale farmers; development of commercial centers in rural farming communities to improve rural small-scale farmer access to markets; government intervention in educating rural small-scale farmers on modern agricultural practices and on methods of obtaining agricultural information.
Assessing the impact of environmental cost on the capital investment decision-making of the Electricity Supply Commission, South Africa
(2020-09) Oyewo,Toyese Titus; Olarewaju, Odunayo Magret; Cloete, Melanie Bernice
The availability of energy (electricity) is a key factor in economic growth and the sustainability of production processes. The need to quantitatively measure the environmental risk and hazard associated with energy sources for the environment is useful in evaluating capital investment for decision-making. Coal (fossil fuel) is the main source of energy in South Africa, based on its availability and cost-effectiveness. Specifically, quantitative research using mathematical marginal social cost modelling to evaluate the environmental cost of emissions emanating from the Electricity Supply Commission’s (ESKOM) coal power stations is employed. It was discovered that the price of electricity has trebled over the lifespan of coal power plants. Therefore, the need to construct coal power plants with optimum levels of production was highlighted. The net present value (NPV) technique was used to evaluate ESKOM's capital investment and the marginal social cost mathematical model was developed for measuring and quantifying the emission costs associated with the lifespan of the coal power plants. Results revealed that the optimum level production of 2,150,000 Gigawatts per annum within the range of the present capacity of ESKOM of 2,292,000 gigawatts annually is required and profitable to ESKOM. The net present value yielded a positive value of R1, 448,713,000,000-00 over a period of 30 years of coal power plants’ life-span. However, various technologies used to minimize emissions were also considered and investigated to confirm the feasibility and profitability of investment in coal- powered stations using environmental management accounting and marginal social cost approaches.
Can training in employability skills help adolescent girls and young women in South Africa increase their employment opportunities?
(2023-04-15) Mvunabandi, Jean Damascene; Mkhize, Msizi; Marimuthu, Ferina; Gadzikwa, Lawrence
This article investigated how employability skills training can be used to foster adolescent girls and young women's employment opportunities and to improve their employment pathways in South Africa. This study adopted quantitative and descriptive research approaches via longitudinal data collection. Secondary data was collected from 3584 AGYWs using a questionnaire survey during employability training from July-October 2021. Robustness analysis was performed using descriptive statistics using SPSS version 28.0. The empirical findings proved that employability skills training significantly improved the capabilities of adolescent girls and young women on labour market assessments. Relying on these empirical findings, this study proposes a framework for linking AGYWs and the labour market through an employability skills training capability-based conceptualised model. The results of this study will fill a gap in understanding the twelve dominant employability skills variables identified by this research study which has justified with most relevant literature and theories in particular. This study contributes to the current body of knowledge and further contributes to the career development and employability among adolescent girls and young women required to cope with the labour markets in South Africa. The study recommends schools, Universities and other key role players in skills development among employability skills guidelines for ensuring the readiness of young graduates for employment opportunities in South Africa.
Cash management challenges of small businesses in a developing community
(MCER Publishing, 2014-12) Mungal, Avika; Garbharran, Hari Lall
Small businesses are vital for employment and job creation in South Africa. The implementation of sound cash management practices is essential to ensure the profitability and sustainability of any successful business. The purpose of this paper is to identify the cash management challenges faced by small businesses in a developing community. This research targeted small retail businesses in the Tongaat area in KwaZulu-Natal, South Africa. The research design for this paper was descriptive, quantitative and cross-sectional. The data instrument was a questionnaire. These findings indicate a significant relationship between cash management knowledge and managing cash flow. The findings also indicate a correlation between profitability in the business and implementation of cash management practices as well as a correlation between the challenges of cash management practices and their ability to ensure profitability in their business. This paper recommends that businesses should implement cash management procedures to eliminate cash management difficulties.
Constructing frugal sales system for small enterprises
(AJIS, 2014-10) Olugbara, Oludayo O.; Ndhlovu, Brenda N.
In the current study, the authors report on the application of the design science methodology to construct, utilize, and evaluate a frugal information system that uses mobile devices and cloud computing resources for documenting daily sales transactions of very small enterprises (VSEs). Small enterprises play significant roles in the socioeconomic landscape of a community by providing employment opportunities and contributing to the gross domestic product. However, VSEs have very little access to innovative information technologies that could help them manage their challenges that are restricting their effective growth, sustainability, and participation in a knowledge economy. The results of a field-evaluation experiment, involving 22 VSE entrepreneurs using a newly constructed system, MobiSales, disclosed that user behavior, which demonstrates confidence, excitement, enthusiasm, energy, and trust varied when employing a mobile electronic device for social interactions, as compared to using it for business transactions.
Currency redenomination and firm value growth : lessons from a developing economy
(LLC CPC Business Perspectives, 2021-03-12) Marimuthu, Ferina; Maama, Haruna
The redenomination of the Cedi with the new Ghana Cedi in 2007 was met with skepticism and outright opposition in certain sectors of the economy. Businesses feared that this would decrease their net worth. Despite the time that has elapsed since the redenomination exercise, it is yet to be proven whether the fears of individuals who predicted its negative impact on firms’ performance had been confirmed or the optimism of those that expected its positive impact on firms’ performance has prevailed. Therefore, the study examined the impact of the cedi redenomination on firms’ value growth in Ghana. The study used the financial records of listed firms in Ghana, five years before and five years after the redenomination of the currency. The firms’ value growth was measured based on the growth in Tobin’s Q and return on assets (ROA). A generalized method of moments (GMM) estimation technique was adopted for the regression analysis. The results indicated that the firms’ value increased, whilst profitability decreased in the same year. Moreover, the results showed sustained growth in the profitability of firms after the redenomination exercise. The study concludes that the currency redenomination improved the firms’ profitability, whilst their value was not improved. The significant implication of the results is that governments can use redenomination as a tool to influence micro-economic activities. This study is perhaps the first to use firm-level data to examine the impact of currency redenomination on firms’ value growth in an African country.
Determinants of participation of Msunduzi local municipality’s peri-urban households in the digital finance economy
(2024) Nyide, Nelisiwe Fortunate; Olarewaju, Odunayo Magret
Digital finance is an instrument that has the potential of improving access to finance to underprivileged groups such as peri-urban communities. Digital financial tools are capable of achieving traditional crisis management objectives with greater potency and accuracy than was historically possible. The financial services sector is in a process of accelerating change by adopting new business models based on convergent technological developments to increase customer participation in periurban areas. Therefore, the financial services sector can use digital finance to improve the availability of household financial services through diversified financial products, thus promoting the growth of household consumption. However, several studies maintain that determinants of digital finance participation of marginalised households, including peri-urban households, are generally underdetermined. Moreover, there is limited literature on the participation of South African households in the digital economy. Scholarly literature asserts that the level of participation of South Africans in digital finance is concerning. This is largely due to a lack of awareness and knowledge of digital financial services that are available to South African households. This study seeks to bridge that gap by examining the determinants of participation of peri-urban households in digital finance in the financial services sector in KwaZuluNatal, South Africa. A quantitative research approach was adopted to answer the research questions. This method was found to be suitable for this study given that the research objectives can be best measured using a structured survey that is quantitative in nature. The target population of this study consisted of peri-urban households located in the Greater Edendale area, which is the largest peri-urban area within the Msunduzi Local Municipality. The sample size for this study was 384 periurban households which were selected using purposive sampling, derived from nonprobability sampling. The questionnaires were in English and were also translated into isiZulu in order to make it easier for respondents to participate in this study. The Statistical Package for the Social Sciences (SPSS) was used to compile the descriptive statistics. The results of this study indicate that the general public in economically disadvantaged communities participates in digital financial transactions in the financial services sector on a regular basis. A Spearman correlation analysis found a substantial positive link between the usage of digital platforms by peri-urban families and their degree of participation in digital finance. This association was shown to be statistically significant (r = .649, n = 315, p < .001). However, the results of a Mann-Whitney U test showed that there was no statistically significant difference between genders with regard to involvement in digital finance (Z = -1.804, p = .071). A correlation analysis was undertaken to determine whether peri-urban households’ awareness of digital financial services influenced their adoption of digital platforms. The Spearman correlation analysis (r = .768, n = 315, p < .001) showed a strong and significant relationship between peri-urban households’ knowledge and awareness of digital financial services and their use of digital platforms. Additionally, a Spearman correlation analysis (r = -.524, n = 315, p < .001) revealed a significant negative association between peri-urban households’ adoption of digital financial platforms and their digital literacy. This is despite the fact that literature argues that in South Africa, the adoption of digital financial services is negatively affected by a lack of information and knowledge which is prevalent among marginalised communities.
Developing a frugal information system to support very small enterprise business transactions
(2017) Khubisa, Freedom Mthobisi; Olugbara, Oludayo O.
The research reported in this dissertation focuses on the development of a web-based frugal information system (frugal IS) which supports financial management of very small enterprises (VSEs), with a special focus on their business transactions. In most developing countries, VSEs have some significant contributions at various socioeconomic objectives, such as fostering entrepreneurship and improving growth of employment. They represent an income opportunity to retrenched and retired entrepreneurs which is recognised to be crucial to the livelihood of many poor local households and local citizens. In addition, these enterprises have a remarkable role to play in the areas of employment and poverty alleviation. Despite this, the majority of VSEs in developing countries, especially those in rural regions are faced with miscellaneous issues and challenges, which could be ascribed to their resource scarcity. In particular, most VSEs are resource-constrained in terms of knowledge and information resources, financial resources and human resources. What also exacerbates their situation is the fact that the majority of VSEs are still ingrained in their traditional ways of running the business and they are unready to adopt new and innovative working methods. In particular, VSEs are still accustomed to manual paper-based systems which are monotonous, error-prone, highly fragmented and severely inefficient. Unfortunately, all this gravely challenges the growth and development of VSEs. In this dissertation, a concept of frugal innovation, precisely frugal IS, is applied to distinctively address specific and unique business needs of VEs in developing countries. A methodology that is employed in this research is called design science research methodology (DSRM). The DSRM helped to address the problem of VSEs through design, construction, utilization and evaluation of a web-based frugal IS prototype system. A novel system life cycle model that favours the notion of frugality was employed for the design and development of a web-based frugal IS. The evaluation of the prototype system and its design revealed quite interesting results. The design of a web-based frugal IS prototype system was characterized with low complexity which promoted reusability, maintainability and reliability. The evaluation of usability indicated that the system was fairly simple to use, reliable and effective in terms of managing financial information of VSEs. Based on the general findings of this research, the design and development of a web-based frugal IS for VSEs in developing countries promises to assist VSE owners to assess their profitability, improve their financial management, promote sound economic decisions and help them to avoid business failure.
The development of a framework for the successful implementation of curriculum renewal : a case study of the office management and technology (OMT) programme
(2018) Moodley, Egashnee; Rajkoomar, Mogiveny
South Africa’s tertiary education institutions main goal is to train, educate, deliver high level professional and occupational skills, research and innovation required for development and economic growth for South Africa (Timm, Govender and Gonsalves 2016). To develop the manpower required for the advancement of South Africa’s economic development, tertiary institutions need to align their programme with the needs of social, economic and technology developments locally, nationally and globally. In an attempt to enhance the aligning needs of the industry and international education standards towards education, universities had started to accredit and renew their programme curricular. However, some researchers have identified that even though curriculum renewal of a programme had brought about some advantages for academics and students, there was many disadvantages as well (Bird et al. 2015: 19). Wormley (2004: 329) has identified that if there are many challenges, negative perceptions and lack of benefits because of a poorly planned framework for curriculum renewal of a programme. Ultimately it leads to the unsuccessful implementation of curriculum renewal. The aim of the study is to explore the curriculum renewal process amongst academics and students of the Office Management and Technology programme at Durban University of Technology to develop a framework for future successful implementation of the curriculum implementation process. As this case study will provide new insights into the perceptions and experiences of those most closely affected, that is the academic staff, the curriculum champion and students of the university involved in the curriculum renewal process, thereby assisting other departments or programmes embarking on a curriculum renewal process A qualitative methodology was employed for this study. Whereby semi-structured interviews were conducted with OMT academics, the OMT curriculum champion, representative from the Centre for Quality Promotion and Assurance (CQPA), and Academic Development Practioner (ADP) for the Faculty of Accounting and Informatics (FAI). Focus group discussion with OMT students was held to obtain the students’ perspectives on the curriculum renewal process of the OMT programme. The study revealed that the main barrier for academics implementing the curriculum renewal process and renewed curriculum lagged due to the lack of resources available to the department, lack of tutors for students, lack of student involvement in the advisory board for stakeholders, as well as lack of curriculum expert’s in department as the main factors that hinder the curriculum renewal process of a programme. On the other hand, the students revealed that the ‘’Blackboard, ThinkLearnZone’’ application notification system needs to be improved as most students do not own smartphones to access the internet. Moreover, students suggested that the academics should conduct more practical activities during the lecture period. Interestingly, students also suggested that lecturers begin to record lectures via the Podcast application which always them to download and learn. The recommendation highlights that students representatives from each level enrolled into the programme should form part of the advisory board for the curriculum renewal process and review, there should be a professional student body from the department, who must be given an equal opportunity to participate in the process discussion. Moreover, to resolve the lack of funds to purchase textbooks and resources, the researcher recommends that the OMT department should start using their own resources from the department and start creating revenue for the department.
The effectiveness of work-integrated learning in South African Universities of technology : a case study of Durban University of Technology
(2016-07) Ngwane, Knowledge Siyabonga Vusamandla
This paper looks at the effectiveness of Work-Integrated Learning in increasing the employability of students studying Office Management and Technology diploma at the Durban University of Technology. The national debate on graduate employment has moved from the narrow focus on a set of essential core skills within the undergraduate curriculum. Work-integrated learning (WIL) programs are becoming popular with students, government, employers, and universities. A major benefit of a WIL program is the increased employability of students, and this matches well with the present trend whereby students expect a pay-off from their investment in education. Various initiatives have been introduced to prepare students for graduate jobs rather than for any job. This includes developing critical, reflective abilities, skills for self-career management and the maintenance of employability and career progression. For OMT students, employability depends on the knowledge, skills and attitudes they possess, the way they use those assets and present them to employers and the context within which they work. The most effective initiative which enhances employment of OMT graduates is the effective and efficient Work Integrated Learning (WIL) they undergo when they do their third year. The Department ensures the placement of all students which grants jobs to more than 70% of the students. The training these students receive so far equips them with the necessary abilities to function as intelligent citizens who can be self-employed and self-reliant. The skills they acquire enable them to contribute to the productivity and development of the organisations they work for. Many graduates are affected by an increasing rate of unemployment but this is not the case for OMT graduates. Most universities has recently strengthened their commitment to WIL through adding WIL to their strategic directions and re-shaping areas of the university to better manage and support WIL provision.
Environmental management tools
(Business Perspectives, 2015) Doorasamy, Mishelle
The aim of this study was to assess effectiveness of environmental management tools currently being used by manufac-turing and their impact on the adoption of cleaner production techniques. The objectives of the study were to identify the benefits of adopting CP technologies as compared to end-of-pipe technology based on primary and secondary lite-rature as well as empirical findings; to identify CP options available to management and other stakeholders by demon-strating the potential environmental and economic benefits of cleaner production processes and technologies, and to make recommendations that will assist the company in its decision making process. A survey on paper and pulp manu-facturing companies was conducted to assess what environmental management tools that companies were using and the effectiveness of these tools in improving environmental performance. Findings of the research suggest environmental costs are significantly underestimated by management. Environmental costs reflected on financial statements were not a true reflection of actual environmental cost incurred by the company. Cost allocation to cost centres, were based on traditional cost accounting system not on an environmental management accounting system. Thus, many companies were still investing in end-of-technologies and not on CP technologies.
Evaluation of access to finance, market and viability of small and medium-sized enterprises in South Africa
(LLC CPC Business Perspectives, 2021-03-15) Msomi, Thabiso Sthembiso; Olarewaju, Odunayo Magret
Access to finance and market has been described as a predominant challenge confronting small and medium-sized enterprises (SMEs). Hence, this paper seeks to evaluate access to finance, market access and viability of SMEs. A quantitative research method and a purposive sampling technique were used to select the participants for this study. Respondents from retail, manufacturing, construction and agricultural SMEs operating in Durban, KwaZulu-Natal, were selected to complete the structured questionnaires. 310 questionnaires were returned out of 321 distributed. The study revealed a significant effect of access to finance (absolute value 0.425) and access to market (absolute vale 0.373) on SMEs’ viability with a 5% level of significance. Thus, it was concluded that access to finance uniquely accounted for the larger proportion of the variance in the regression model. Thus, this study suggests that owners of SMEs should pay greater attention to access to finance in running their businesses, and the Government should aid SMEs to market their products and keep their businesses viable. Public loans or the government supported loans should be made available for SMEs with soften requirements in order to stimulate economic growth.
Evaluation of factors affecting financial performance of non-life insurance businesses in South Africa
(2022-04-12) Abdulraheem-Saheed, Hassana; Olarewaju, Odunayo Magret
Profitability enhancement through financial analysis remains a crucial tool in accessing the performance of the insurance sector. In the developing countries such as South Africa, there is dearth of information on the impact of explanatory factors on the financial performance of nonlife insurance businesses. This study examined the influence of selected firm-specific, macroeconomic and underwriting profit variables on the financial performance of the South African non-life insurance firms. Here, we considered 36 listed non-life insurers with measurable markets over the period 2008 – 2019. The study employed return on asset (ROA) as a function of financial performance as the dependent variables. While the firm size, leverage ratio, premium growth rate, liquidity ratio and tangibility of assets constituted the investigated firm-specific variables, the macroeconomic (income level, inflation rate, GDP growth rate, market structure and trade openness), and underwriting profit (underwriting profit, total investment, shareholder’s fund and earning asset ratio) were studied as independent variables using panel data regression approach. The regression results revealed that except leverage and liquidity ratios, other firmspecific variables do not have statistically significant effect on the financial performance of south African non-life insurance firms. On the other hand, only GDP rate and shareholder’s fund are the exclusive macroeconomic and underwriting variables, respectively, with statistically significant impact on the financial performance of the non-life insurance firms of South Africa. These results, indeed, gainsay with economic theories. Thus, the leverage and liquidity ratios along with GDP rate and shareholder’s fund can be identified as determinants of the financial performance of the South African nonlife insurance sector. While providing some noteworthy insights on rational decisions regarding selection of non-life insurance firms’ stocks and strategies that would guide their operations, the data presented in this study will also be beneficial to regulatory authorities in formulating sound and effective policies to ensure economic growth and stability of the republic of South Africa.
Evaluation of operational efficiency and financial health of non-life insurance companies in South Africa
(2023) Ige-Gbadeyan, Omonike Ope; Swanepoel, Matthys Johannes
For some time, operational efficiency has been a great challenge confronting insurance companies; the pressure of low investment returns, pressure to change to the digital age to be relevant to modern technology, and lack of performance to standard and strategic vision are the primary challenges to future transformation efforts. This study examined the operational efficiency and financial health of nonlife insurance in South Africa. Since Operational efficiency is the primary medium to measure financial health, there is a need to identify and discuss the microeconomics and macroeconomics variables and understand the financial health of non-life insurance companies. A descriptive research design was adopted to achieve the objective of this study. In this study, panel data from 2008- 2019 was used. This panel data gives more informative data as it consists of both the cross-sectional information, which captures individual inconsistency, and the time-series information, which captures active modification. 2008 was chosen because insurance industries were distressed due to the 2008. This study used secondary data from S&P Capitall Q and Refinitiv Eikon, well-known databases with readily available data. They provide data reliability, in-depth financial information on companies, equities, fixed income, industry reports, SEC filings, interest rates, commodities, and screening for stocks and mutual funds. The study employed Profitability TLA as a function of financial health and other variables like the company's size, leverage ratio, premium growth rate, liquidity, inflation rate, and Gross domestic product (GDP) growth rate using a panel data regression approach. The result shows that of all the predictors, only LY and LV have a significant (positive) effect on the dependent variable financial health (TLA). The correlation analysis results show the relationships between some of the observed parameters. In particular, the result reveals that liquidity, size of the company, leverage, profit After Tax, operational efficiency, and Return on Asset all have a significant positive correlation with financial health. At the same time, Total Assets correlate negatively with TLA. The study contribute insight into the operational efficiency of non-life insurance companies and show profitability as an efficiency index. The study recommends improving premium growth. Insurance management should focus on reviewing their product prices since some common factors can affect insurance premiums, like gender, age, smoking status, lifestyle, occupation, and income, to improve the premium growth of non-life insurance companies, this study will also be helpful to monitoring authorities in articulating comprehensive and practical strategies to ensure financial development and steadiness of the non-life insurance In the Republic of South Africa.
Evaluation of quality administrative practices in three selected Technical and Vocational Education and Training colleges in KwaZulu-Natal
(2017-08) Mpanza, Nomzamo Monica; Green, Paul; Sentoo, Naresh Ramnarain
This dissertation evaluates the quality of administrative practices in three selected Technical and Vocational Education and Training (TVET) colleges in KwaZulu-Natal, situated in the Durban area. TVET Colleges, formerly known as Further Education and Training (FET) colleges in South Africa, have undergone numerous changes since 1994. The South African government has recognized the sharp increase in unemployment, particularly among the youth of the country. There is a dearth of trained employees possessing a certain skills set required in the South African vocational industry and the government has identified TVET colleges as the panacea to address this skills shortage. Student satisfaction is important in higher education as it influences effective learning. This study adopted a mixed methods approach involving a set of questionnaires administered to students. Semi-structured interviews were conducted with administrative clerks and administrative managers. A stratified sampling technique was used when collecting data from staff and a convenience sample was applied when collecting data from students. A SERVQUAL theoretical framework was employed in this study; this model explains the students’ perceptions and expectations in evaluation of administrative practices which have been used to measure service quality in an administrative service context. The result of the research indicated great importance for all TVET colleges to implement an appropriate set of processes for the administrative practices and to continuously review and refine the application system (COLTECH) being used to capture academic information for students, and the lack of support to the administrative clerks in dealing with all students’ enquiries expeditiously. Following an in-depth analysis of the results, this study recommends more consultation with students regarding administrative practices; flexibility in accessing academic information on time; a high level of communication in any enquiries; and proper monitoring of the application system (COLTECH). Administrative clerks should be authorised to rectify errors as soon as possible; continuous training; workshops and the COLTECH application system should be continuously upgraded.
Evolving a framework to observe and analyse customer experience on the Twitter platform using machine learning techniques
(2024) Moodley, Thaneshni; Thakur, Surendra
Retailers have become more focused on retaining and turning existing customers into longterm clients because retailers have become more competitive, customers more demanding, and competitors more aggressive. The 2020 COVID-19 pandemic has forced a transformation for retailers. Within months, a revolution has taken place, constituting major changes to how consumers view cash, how they shop online and what they expect from retailers as part of a positive buying experience. Consumers increasingly expect retailers to create a seamless customer experience. This often means leaning on digital capabilities to create a seamless, omni-channel experience by linking different aspects of the customer shopping experience. The usage of big data analytics has primarily been implemented outside of South Africa to better understand customer connections and experiences, highlighting a noticeable research gap in South Africa. It has been proven to be an effective tool for retailers in predicting customer behaviour. There is a need to reduce the complexities in understanding which are the most appropriate machine learning techniques for sentiment analysis of online customer experience and to capitalise on development. Thereafter, online retailers are better equipped to tailor machine learning tools to craft analytical tools. Given the massive migration to online transactions, this work presents a rigorous analysis of social media posts, which is paramount for modern-era retailers. Businesses can use sentiment analysis to determine how well their brand is performing in the marketplace, learn more about the attitudes of their customers and determine whether their items receive more positive or negative feedback. A longitudinal study was adopted to analyse a dataset of retail-related tweets for the identification of customer complaints using a sentiment analysis hybrid approach, which is a combination of lexicon and machine learning approaches. A conceptual framework was developed to observe and analyse customer experiences on the Twitter platform using machine learning techniques. The framework encompasses components such as data preparation, natural language processing pre-processing techniques, calculating sentiment using sentiment lexicon and ML techniques, and thereafter a selection of the best-performing machine learning technique for sentiment analysis within the developed conceptual framework. The extracted dataset contains 240 000 tweets posted between 01 January 2017 and 31 January 2019, out of which 27 233 tweets were selected for the study. Natural language pre-processing techniques were applied to the dataset, including tokenisation, stemming, lemmatisation, part-of-speech tagging, and name-of-entity recognition. Supervised and deep machine learning gave the best results of 61.75 and 60.25. This study has identified deep learning as a good technique for sentiment analysis when NLP pre-processing methods are done in a certain order. A study on analysing retail complaints posted on the Twitter platform using a sentiment analytic framework has not been done in South Africa before. This study has proven that the sentiment analysis hybrid approach is highly capable of analysing social media data.
Examining the impact of the ethnoscience teaching philosophy on academic performance in introductory computer programming
(2021-09-20) Sofowora, Mayowa A.; Eyono Obono, Seraphin Desire
The mastery of the core technologies of the Fourth Industrial Revolution (4IR) seems to require a set of skills that are reputed to be difficult to learn. This also includes general STEM (Science, Technology, Engineering and Mathematics) related know- how where computer programming is considered by many as the new linking glue of the 4IR despite its reputation of being difficult to learn and to master. 4IR is credited with a wide range of advantages, such as improved production, communication and participation, but it also comes with several disadvantages, such as the widening of the digital divide and higher levels of unemployment, especially for unskilled people. In fact, computer programming and other STEM related skills are crucial for the optimization of the benefits of the 4IR and for the minimization of its disadvantages. This is why this study is examining the impact of a different type of teaching approach known as the ethnoscience teaching approach, a STEM teaching philosophy, on students’ academic performance in introductory computer programming. A content analysis of existing literature on academic performance factors was first undertaken, both for introductory programming and for STEM subjects, in order to design an aggregated theoretically sound model of academic performance factors for these two fields. That model was then partially empirically tested by this study first within a totally culturally neutral teaching approach, then with a quasi- experiment whose experimental group was taught and tested with the use of the ethnoscientific teaching approach and philosophy while the control group stayed with the conventional culturally neutral teaching approach. The results of this study indicate that the ethnoscience teaching approach significantly improves students' academic performance in introductory computer programming compared to the conventional teaching approach. They also indicate that students’ prior language and computing subject choices affect their performance in conventional but not in culturally sensitive introductory computer programming. The participants of this study were selected from the introductory programming 2018 class of the IT Department of the Durban University of Technology. Should the findings of this study be confirmed with more programming concepts and with different samples, they will confirm the intrinsic value of culturally sensitive computing education.