One of the central tenets of much current development thinking in southern Africa is that market-oriented strategies and private sector involvement must be the basis for future economic growth. This has underpinned structural adjustment and economic policy reform policies in the region over the last decade or more. It also underlies the argument for encouraging external foreign direct investment (FDI) as a motor for growth. However growing evidence suggests that such a strategy has not paid off. Economic growth rates have been disappointing, private, and particularly foreign, investment has been limited, and employment in the formal sector has fallen dramatically.1 Structural adjustment and market liberalisation have clearly not delivered the developmental benefits claimed of them, and people's livelihood opportunities have, ft seems, declined over the same period and their levels of vulnerability have increased. The increasing recognition that the standard neo-liberal prescriptions were not having the expected benefits, especially for poor people, has resulted in some rethinking about how best to redirect the benefits of globalisation and economic reform towards the poor, and how to offset some of the losses. Thus ‘pro-poor growth strategies’, ‘making markets work for the poor’ and ‘growth for redistribution' have become well-worn slogans. However, the practical and policy measures required, whereby the benefits of an engagement with a globalised economy, investment by the private sector and liberalisation privatisation measures can result in poverty reduction, remain vague.A number of issues arise. For the sceptics, questions are raised about the degree to which the turn to a 'pro-poor' markets approach is simply rhetorical gloss, added to the discredited neo-liberal paradigm, or actually a genuinely new policy perspective in its own right. It is important to differentiate between broad economic policy reform objectives (which, with some nuances, remain largely in the standard neo-liberal form) and sectoral policies which contain explicitly pro-poor elements. While retaining the argument that market liberalisation and external investment are key, such policies may include some strategic elements of state- directed intervention which boost the access of the poor to new markets and investment opportunities. It is this stance, where the state intervenes to improve access and for particular groups of people, redressing to some extent the imbalances caused by the lack of level playing fields of existing markets, which potentially sets a pro-poor perspective apart.

This study is concerned with the feasibility and problems associated with the timely establishment of the SADC monetary union and central bank. During this study an indepth literature review was done to analyse / establish the historical background for the establishment of the monetary union for SADC, to look at the reason for a central bank's existence and the functions performed by the central banks in the region. The study looks at the benchmark used for the establishment of this monetary union, this being the European Union. It looks at the establishment of the monetary union from a political, central banking, commercial banking and business perspective and also how these entities will be affected by the establishment. The study aims at looking at the problems that might prevent the SADC region from reaching the expected implementation date of 2016 and to make some recommendations to assist the different parties to best prepare for the successful implementation of this monetary union for SADC. / Thesis (MBA)-University of KwaZulu-Natal, Westville, 2006.

The Southern African Development Community (SADC) aims to have a regional central bank by 2016 and a common currency by 2018. The member states are at the early stages of the process of regional economic integration, having launched a free trade area in 2008. Monetary integration is an advanced stage of regional economic integration that requires progressive changes in the participating countries. The purpose of this study is to determine the feasibility of monetary integration within the SADC countries and hence, provide policy recommendations to guide the integration process. To accomplish this, the study analyses the extent to which the member states meet the criteria for an optimum currency area (OCA) as well as the degree to which their economies are converging. The study finds that the main macroeconomic objectives of SADC countries differ due to a difference in the relative importance of monetary policy instruments in member states, which influences each country’s commitment towards achieving the macroeconomic convergence targets and harmonising policies. A more appropriate approach to macroeconomic convergence would be to allow for variable speed, geometry and depth in each country as premature adherence to convergence targets could prevent a harmonisation of the economies in the future and possibly destabilise the union. In addition, the study investigates the importance and similarities of the monetary aggregate channel, the interest rate channel, the exchange rate channel and the credit channel in the transmission of monetary policy using VAR analysis. This is important when considering monetary integration because differences in transmission mechanisms can result in asymmetric behaviour between member states, which in turn will prevent harmonisation of their economies. The results of the analysis suggest that SADC member states display asymmetries in their responses to monetary policy shocks as well as the relative importance of transmission mechanisms. In addition, the results suggest that national monetary policy is generally inefficient in determining economic performance in the member states. Furthermore, the study finds that the failure to meet the OCA criteria implies that the SADC member states will respond asymmetrically to shocks within a monetary union. With no effective alternative adjustment mechanisms in place, the effects of the shocks will endure in union members and possibly widen existing cyclical variation. Hence, monetary integration would not result in harmonisation of the economies of member states. It is therefore, concluded that the SADC countries were not suitable for monetary integration at present.

Trite as it may sound, the end of the Cold War is a landmark event in the history of human-kind. As such, this thesis was motivated by some of the international and local events that have taken place since the end of the 1980s. At the international level, the end of the Cold War has encouraged the re-examination of the concept of security. In Southern Africa too, this process has been strengthened by the demise of apartheid in South Africa. Initially challenged by a few academics, the traditional conception of security which perceived the threat to 'national' security primarily in the form of external military aggression no longer enjoys the primacy it was accorded during the Cold War era. A 'new' security discourse has emerged, and even though it has not yet made inroads into many governments' policy papers, there is some realisation that people's security concerns go beyond external military aggression to the state. Proponents of this 'new' thinking make reference to people-centred or human security - the notion that people and not the state, must be the objects of security. Arising from that, they point to the existence of many phenomena which should also be accorded security status especially in developing countries where people are confronted by life-threatening challenges such as disease, poverty, famine, and other challenges which do not necessarily threaten life, but if not tackled with urgency could transform themselves into the more conventional military threats. Here reference is made to the proliferation of small arms, political instability, mass migr?tions, and so on. In a region besotted by many of the challenges mentioned above, a security conception informed by the 'new' approach seems more appropriate. The outcome of the traditional approach to security is well known to the region many millions of lives were lost and it is estimated that billions of dollars in revenue were also lost, all in the name of maintaining the security of the South African state. Seeing neighbouring states as threats to its security because they accommodated liberation movements who occasionally instigated military attacks against Pretoria, the former apartheid state through its policy of 'Total Strategy' terrorised the entire region, including the majority of citizens within South Africa. However, since the end of apartheid in 1994, the new democratically elected South African government has committed itself to help build a politically stable, more secure, economically prosperous and integrated region. Through its accession to the Southern African Development Community (SADC), a body which it once tried to undermine, South Africa has further demonstrated a commitment to tackle some of the region's problems in unison with its former adversaries. Throughout the Southern African region there is a realisation that there are more long-term benefits to be gained by working together to tackle the challenges that confront almost all the countries in the region than trying to solve problems independently. Therefore through SADC, primarily a development-oriented body, Southern African states will also seek to address the region's security concerns. Many of the region's governments seem to show an understanding that security and development are intertwined - that they are two sides of the same coin whereby one cannot be attained without the other. Much as this understanding is laudable, in practice it does not seem as if it will translate to the prominence of so-called development issues or marginal security issues. Accepting the 'new' thinking on security also implies an acceptance of a wider range of security agents. It does not mean that by widening the agenda of security to include nonmilitary threats, more tasks will follow for the 'men' in uniform. What it means is that, the military establishment should no longer be the sole agent of security. Instead, where there is no military threat, resources should be channeled to other establishments such as those of health and research in order to fight the spread of AIDS. Furthermore, departments of water, environmental affairs, and so on, should be part of the security policy-making process. In addition, civil society should also be included in the policy-making process. Notwithstanding its limitations, and without undermining inter-governmental projects, civil society can at best promote security by serving as a watch-dog over policies adopted by governments. South Africa during the era of apartheid is a classic example of how governments cannot always be entrusted with the security of ordinary citizens. However, an examination of the structure and terms of reference of the newly created SADC Organ for Politics, Defence and Security (from henceforth referred to as the Organ) reflects a preponderance of the traditional/realist approach to addressing security concerns. It was conceived by, and is primarily constituted by the traditional establishments of security, that is, the military and the police. Some of the Organ's objectives include; security and defence cooperation through conflict prevention, management and resolution and mediation of disputes and conflicts. Nowhere is it evident that others besides those from a military/police background were involved in the formation of this important body. There is also no indication as to how other dimensions of security will be attained through the Organ. All this casts doubt regarding SADC's actual commitment to a development-oriented, people-centred and people-driven security. Nonetheless, current debates on security give hope to the notion that in the future, people's overall security needs will be addressed.

This is a study of the relationship between approaches to people management and competitiveness, by examining the case of the textile and clothing industry in Southern Africa. The textile and clothing industry has historically played a major role in many national economies (including many southern African countries) contributing not only to overall economic growth, but also to the creation of significant numbers of relatively well-paid jobs. In the Southern African Region (SAR), the textile and clothing industry has undergone many structural pressures in the face of increased cheap imports from South-East Asian countries – above all, China and Bangladesh - which have resulted in the closure of many firms, and the significant downsizing of many survivors. This study seeks to explore the relationship between HR practice and organizational sustainability in the textile and clothing industry in Southern Africa region, with a particular emphasis on the cases of three countries: South Africa, Mauritius and the Democratic Republic of the Congo. Whilst at very different stages of national development, and with distinct political and developmental histories, all three countries were subject to active industrial policies, including the development of national clothing and textile industries. Again, all have faced the challenge of sustaining these industries in the face of liberalization and intensive competition from the Far East. This study is based on a multi-method approach, combining in-depth interviews with national industry surveys, and the usage of relevant documentary sources. It takes cognizance of the increasing relevance of new HRM practices and discourses to the growing field of Development Studies in the 21st century. The existing HRM literature suggests that there are a number of alternative people management strategies through which firms may secure their competitiveness, most notably strategic approaches to hard HRM (which treats people as an instrument to be strategically deployed to promote competitiveness), soft HRM (which promotes cooperative approaches to managing people) and traditional labour repression (managing people simply as a cost, to be managed in a short-term, un-strategic manner). The literature on HRM in Africa has suggested an alternative paradigm, which combines autocratic paternalism with elements of communitarianism. This study found that the bulk of firms encompassed by the study employed HR policies that recognizably fell within the soft HRM paradigm, enabling high value added production. However, an important exception lies in the area of security of tenure: firms tended to combine high levels of employee involvement and participation; as well as a commitment to human resource development, along with a persistent reliance on the usage of redundancies to adjust changes in the relative need for labour. Hence, this study highlights the limitations of theoretical approaches which see HR strategies as being necessarily coherent and self-reinforcing. Firms may broadly adhere to one approach, whilst adopting aspects of another as needs arise and in response to external pressures. An important exception to this was Mauritius, in which security of tenure appeared to be stronger, perhaps owing to the greater ease of enforcing regulations against illegal imports in a relatively small island country by allowing firms to plan for the future with greater confidence. In contrast, firms in South Africa were characterized by much lower security of tenure, against a backdrop of declining profits, reflecting the competitive challenges posed not only by legitimate low cost imports, but also illegal imports and the proliferation of rural sweatships. One again, this study highlights the relative fragility of the position of many firms and the continued importance of governmental support, most notably in terms of export incentives, support and facilitation in the adoption of new technologies, as well as better policing against illegal imports.

To date the SADC region has managed to develop a manufacturing base but this base is still small as evidenced by its low contribution to GDP. For example, only three out of the fourteen SADC countries, viz. Mauritius, South Africa and Swaziland, had over 20 percent of their GDP originating from the manufacturing sector throughout the 1990s. Also to note is that while the manufacturing sector is quite diversified, the sector is dominated by industrial processes which are more of resource and labour-intensive in nature than those processes of scale-intensive, differentiated and science based in nature. TIle trade performance of the manufacturing sector supports these observations and as such the region is heavily dependent on imports for scale-intensive, differentiated and science based commodities. However, despite the fact that the region tends to focus more on resource- and labour-intensive manufacturing activities, products from these manufacturing activities are still significant components of manufactured goods imports into the region. Also to note is that since resource- and labour-intensive industries dominate manufacturing activities; these are the areas in which investment opportunities abound. For example, agro-based manufacturing presents most of the investment opportunities, with food processing presenting the majority of the investment opportunities followed by garments and textiles production. Mineral processing also presents significant investment opportunities. The analyses of the nature of the manufacturing sector also show that in a few SADC countries, viz. Mauritius, South Africa and Zimbabwe; scale-intensive, differentiated and science based industries also form a significant component of the industrial base implying more technologically complex manufacturing sectors. Since high technology and technologically complex manufacturing activities are limited, investment opportunities in these manufacturing sub-sectors are also limited to just a few countries However, with the SADC ITA in place, opportunities could arise for these limited technology-related manufacturing facilities to expand or engage in import substitution production so as to meet the demands of the growing regional market. It is also important to note that, while the region may not have as competitive advantage in these industries as in the resource- and labour-intensive industries, there is a need for the region to selectively identify and target such industries for priority development, a lesson SADC could learn from the East Asian NIC's took in their industrialisation strategy. The study also shows that the manufacturing sector has been a priority sector for both domestic and foreign investors. This has implications for industrial development because a strong and dynamic manufacturing sector would be developed, forming a sound basis for industrialisation as well as being able to effectively link and support all the other sectors of the economy. FDI could help the region to fully utilise the labour-intensive industries and use them as a stepping-stone to higher levels of industrial development. This is a lesson to SADC from the experiences of the East Asian NICs where while industrialisation was initiated by labour-intensive manufacturing, the countries were able to move into capital-intensive manufacturing due to FDI as it enabled the establishment of the industrial bases, thus leading to a rise in the share of manufactured exports. FDI could also help to develop the resource-intensive industries further by promoting further processing of raw materials into products of more value, thus propelling industrialisation through a resource-led industrial development programme as the current resource-intensive industries become fully utilised. The raw materials which occur in great abundance in the region's primary sector would have a ready market in the manufacturing sector where they would serve as inputs to the production of high value products. The currently smaller industrial base for scale-intensive products, differentiated and science-based manufactured products would benefit from the improved technological capabilities and managerial skills that result from FDI. Therefore, by impacting positively on manufacturing activities of both low and high MVA, FDI would thus have a facilitating role in establishing a more solid industrial base, broadening the current manufacturing base, and improving installed capacity utilisation. The study also shows that investment in productive capacity in the form of machinery and equipment is of great importance in the sampled SADC countries. Investment towards the acquisition of this capital is very important as this is directly relevant towards improving productive capacity. FDI could thus play a facilitating role by augmenting the current domestic investment in machinery and equipment. While the manufacturing sector within the region is still small and the current utilisation of installed industrial capacity is low, there is potential for further industrial growth. The current process to usher in the SADC Free Trade Area would have a facilitating role through various ways: viz. increasing the market size and enabling easier access through the reduction of tariff and non-tariff barriers, promoting regional competitiveness, improved utilisation of regional corridors, increasing opportunities for utilising identified intra-industry trade potentials, and providing opportunities for increased regional cross-border investment. Apart from the SADC FTA, the USA African Growth and Opportunity Act (AGOA) and the Cotonou Agreement will also motivate the identification and utilisation of existing and new potentials within the manufacturing sector in SADC. In order to improve the current nature of industries in the region, there is also a need to design and implement appropriate industrial policies and strategies. Such policies should consider the region's trade policies and the recently launched Regional Indicative Strategic Development Plan (RISDP) so as to complement them. The industrial policies should also address issues relating to industrial investment, technology and local technological capabilities development, human resources development, the structure and nature of industry, the competitiveness of industries, as well as facilitating the complementarities between the agricultural and manufacturing sectors. To this end therefore, instead of relying solely on individual national industrial policies, SADC is in the process of formulating a regional industrial policy and strategies which seek to promote and support sustainable industrial growth across the region, thus facilitating industrial development.