Investments in productive assets by broad-based black economic empowerment (BEE) enterprises in South Africa (SA) during the 1990s have been constrained, in part, by a lack of access to capital. Even if capital can be sourced, BEE businesses often face a liquidity problem, as conventional, equally amortized loan repayment plans do not take into account the size and timing of investment returns, or there are lags in the adjustment of management to such new investments. The aim of this dissertation, therefore, is to compare five alternative loan products to the conventional fixed repayment (equally amortized) loan (FRL) that lenders could offer to finance BEE investments in productive assets that are faced with liquidity stress, namely: the single payment non-amortized loan (SPL); the decreasing payment loan (DP); the partial payment loan (PPL); the graduated payment loan (GPL); and the deferred payment loan (DEFPLO-2). This is done firstly by comparing loan repayment schedules for the six loans using a loan principal of R200 000, repaid over 20 years at a nominal contractual annual interest rate of 10%. Secondly, data from five actual BEE loan applications to ABSA Bank and Ithala in KwaZulu-Natal (KZN) during 2003 are used to compare how the FRL, SPL, DP, GPL, and DEFPLO-l, affect investment profitability, and both the borrower's and the lender's cash-flows, assuming that the lender sources funds from a development finance wholesaler. Results for the first part of the study show that the SPL has smaller initial annual repayments than the FRL (R20 000 versus R23 492) that ease liquidity stress in the early years after asset purchase, but requires a nominal balloon repayment of both interest and principal in year 20 of R220 000. The SPL is also the most costly loan, with total nominal and real repayments that are R130 162 and R43 821, respectively, more than the FRL. The PPL has the lowest total nominal and real repayments assuming that the borrower can make the nominal balloon repayment in year 5 of R202 173. If not, the ending balance of the loan in year 4 would have to be refinanced at current market interest rates. In this situation, the PPL uses very similar financing terms to that of the variable rate long-term loans already used in SA, and thus may not be a useful option to consider for BEE investments facing a liquidity problem. Interest rates may have risen over the last four years of the loan, encouraging lenders to add a premium into the interest rate for the refinanced loan, which could worsen the liquidity position of the BEE enterprise. The DP requires higher initial nominal annual loan repayments (R6 508 more than the FRL) that do not ease the liquidity problem in the early years of operation. The DP loan, however, has total nominal and real repayments that are R59 838 and R23 118, respectively, less than the FRL. A GPL with diminishing, finite interest-rate subsidy seems to have the most potential to ease the BEE investment's liquidity stress. The 17YRGPL used to buy land had total nominal and real repayments that were R84 634 and R67 726 (after subsidy), respectively, less than the FRL. If the GPL was used to purchase machinery-type assets, then the 6YRGPL would have required total nominal and real repayments of R13 957 and R12 596, respectively, less than the FRL. Finally, the DEFPLO-2 loan required a total nominal repayment of R531 128 (R61 290 more than the FRL) and a total real repayment of R345 358 (R26 095 more than the FRL). Clearly, the GPL and DEFPLO-2 loan repayment schedules can partly resolve the liquidity problem in the early years (assuming no major income shocks), although the DEFPLO-2 plan requires higher total repayments than the FRL. The question remains whether lenders would be prepared to implement these two financing plans for BEE investments in productive assets, where the funds to finance the diminishing, finite interest-rate subsidy or the deferment would be sourced, and how the interest-rate subsidy would affect asset values. In the second part of the study, the profitability of the five proposed BEE investments in KZN during 2003 was compared for the five loan products using the Net Present Value (NPV) and the Internal Rateof- return (lRR) capital budgeting procedures. The loan terms, interest rates, principal and characteristics of each BEE firm are different with current rates of return on equity varying by business type. Companies A (five-year loan) and C (10-year loan) are agribusinesses with a higher expected current rate of return of 8% on machinery investments, while companies B (eight-year loan), D (15-year loan), and E (20-year loan) invest in farmland with a lower expected current annual rate of return of 5%. The five business plans may not be representative in a statistical sense of all BEE firms in KZN, but were used because they were readily available. Initially it was assumed that donor/grant funds from a development finance wholesaler were lent to an intermediary (like a commercial bank), which in turn, could finance the five investments using any of the five alternative loans, with the lender's repayment to the wholesaler being via a FRL. It was then assumed that the lender could repay its borrowed funds using the same loans, or combinations of them, that it had granted to these companies. Results show that GPLs and DEFPLs can resolve the liquidity problem associated with investments like land in the early years after purchase provided that projected business performance is adequate, while the SPL and GPL are preferred for BEE projects with stronger initial cash-flows like machinery investments. The study also shows that the loan product that best improves the borrower's liquidity is not always best suited to the lender. In most cases, the GPL suited the borrower, but in four of the five cases, the lender would prefer the SPL and to repay the wholesaler using the SPL. The SPL, however, is unlikely to be used, given the large negative real net cash-flows that it generates when the final payments are due. Recent SA experience with the GPLs (interest rate subsidies funded by private sector sugar millers via Ithala) and the DEFPLs (via the Land Reform Empowerment Facility (LREF) which is a wholesaler of funds in SA) suggests that there is scope to alleviate the liquidity problem if a wholesaler of funds can offer such terms to private banks and venture capital investors who then on-lend to finance BEE asset investments that are otherwise considered relatively high credit risks. This would shift the liquidity problem away from the client to the wholesaler of the funds, but requires access to capital at favourable interest rates. Such capital could be sourced from dedicated empowerment funds earmarked by the private sector, donors and the SA government. The lesson for policymakers is that broad-based BEE could be promoted in other farm and non-farm sectors in SA using similar innovative loan products to complement cash grant funds via financial intermediaries, bearing in mind the limitations of the GPL and DEFPL - such as how to finance the subsidy or deferment, and the impact of income shocks. Donor and National Empowerment Fund capital could be used to allocate grants to provide previously disadvantaged individuals with own equity and also to fund finite, diminishing interest-rate subsidies via GPLs, or to fund DEFPLs (many LREF loans have been leveraged by a cash grant component). This could create an incentive for public/private partnerships, as public/donor funds could be then used to attract private sector funds to finance broadbased BEE investments in SA that satisfy empowerment criteria. The five case studies did not show how the GPLs and DEFPLs could make all profitable (positive net present value) but financially infeasible (returns do not match the size and timing of the lender's financing plan) BEE investments in productive assets under the FRL feasible, except for Company E that showed a positive NPV and IRR when the 19YRGPL was used. They did, however, show how the alternative loans could improve liquidity for investments with either strong or poor cash-flows. The financiers consulted to source case studies in KZN in 2003 at the time of the study could not provide the researcher with any profitable, but financially infeasible, BEE business plans. This raises some concern about how effective these empowerment loan products could be in the future as there is uncertainty over how many potential BEE investments in productive assets in SA are likely to be profitable but financially infeasible. Further research is thus needed to assess the impact of these alternative loans on a wider range of broad-based BEE investments, particularly non-farm projects, than considered in this dissertation. / Thesis (M.Agric.Mgt.)-University of KwaZulu-Natal, Pietermaritzburg, 2005.

Involvement in agricultural activities has generally been the main livelihood strategy for rural people. This was also the case with KwaMbonambi and Sokhulu farmers, especially amadumbe producers. The research was therefore undertaken to explore the marketing opportunities for amadumbe in the Mbonambi Municipality under which KwaMbonambi and Sokhulu tribal areas fall. A research team was formed by five staff members from the Department of Agriculture including the researcher. Five research tools were used to collect data and these were questionnaires for formal retail shops, focus groups for processing centres, a transect walk to assess the land availability, sustainable livelihoods and force field analyses for amadumbe producers, From the findings, the formal retail shops and processing centres did not have a direct link with local amadumbe producers of KwaMbonambi and Sokhulu. Their produce came via agents from Durban and Johannesburg. Amadumbe producers on the other hand were producing amadumbe for their own consumption or to sell either to local communities (from the garden gate) or to hawkers in nearby towns. A recommendation was made that an amadumbe marketing forum be constituted in order to close the gap between formal retail shops, the processing centres and the amadumbe producers of KwaMbonambi and Sokhulu. Farmers felt that they could produce amadumbe of the quantity and quality required by the formal outlets if they improved their production amounts and marketing strategies. / Thesis (M.Soc.Sc.)-University of KwaZulu-Natal, Pietermaritzburg, 2008.

The main objective of the study was to investigate the marketing strategies needed for the development of a peanut agribusiness for small-scale farmers producing peanuts in the Vulamehlo District, southern KwaZulu-Natal (KZN). The study was part of the extension programme of the KwaZulu-Natal Department of Agriculture and Environmental Affairs (KZNDAEA). Another aim of the study was to examine the market requirements for peanuts purchased from Vulamehlo farmers in relation to the processing and sale of peanuts and whether or not market outlets for peanut products in KZN were available. In addition, current links between farmers, peanut processors, agents and retailers were to determine, if the marketing of peanut butter produced by small-scale farmers could be improved. Small-scale farmers were targeted because they play an important role in rural areas for community development and for poverty alleviation and also to generate income. There is little research on small-scale agribusinesses. Small-scale farmers have unreliable supply chains and markets. The study was conducted between May and November 2005. The data for the development of agribusiness for small-scale farmers in the Vulamehlo district were gathered from four wards of Vulamehlo: Mkhunya, Qiko, Mzimlilo and Mazabangwane. Questionnaires, a focus group discussion and observation were used to collect data from farmers and informal processors of peanut butter. Interviews were conducted with informal traders, formal traders and a formal peanut butter processor, to collect information about their marketing of peanut products. Six peanut producing farmers’ associations out of ten were randomly selected from the list of farmers’ associations in the Vulamehlo District. Details were obtained from the Department of Agriculture office. The study found that the marketing requirements needing to be met by small-scale farmers include availability of adaptable certified peanut seeds, appropriate tools and equipments for cultivation, reliable supply of raw material, grading and testing of level of aflatoxin in peanuts, knowledge of processing regulation to food safety and hygiene, proper business and management skills and relevant technology and marketing information. The study revealed that there were no seed companies around Vulamehlo sold peanut seeds and there were no commercial peanut-producing farmers in KZN to assist small-scale farmers. Farmers were using manual tools for the peanut production process. This limited production and expansion and lowered the yield. Constant supply may be a problem for the business processing enterprises. The markets for Vulamehlo peanut producing farmers were informal and insecure. The peanut butter co-operative lacked processing equipment, processing know-how, energy-saving technology and marketing information. It is recommended that developing agribusiness linkages with suppliers, traders, farmers and processors would improve the small-scale farmers’ negotiating skills. The KZNDAEA should improve links with large-scale farmers, traders, suppliers and processors, in order to obtain more information on peanut production. Contamination, especially by aflatoxin, during the processing of peanut products should be eliminated. / Thesis (M.Soc.Sc.)-University of KwaZulu-Natal, Pietermaritzburg, 2008.

Although private family organisations are prevalent role players in both the South African and international economies, limited research has been performed with regard to them. In terms of regulatory requirements, South African private organisations are neither legally required to comply with corporate governance principles, nor are they required to make their financial data available to the general public. Lack of available data, and limited available research, have resulted in an absence of clarity with regard to whether governance structures in private family organisations add any value to these organisations. This study therefore explores, through the use of a multiple-case study, how the individual private family organisations have structured their governance mechanisms, and the reasons as to why they chose to implement these structures. Both case studies revealed that governance structures, in general, add value. The implemented governance structures may even have contributed to the increase in financial performance over time. / Management Accounting / M. Phil. (Accounting Sciences)

It is verified in this thesis: to be the nature of capital strength extraction of surplus labor makes borderless. To this end, international competitiveness and efficiency productivist guide the European Common Agricultural Policy evading wealth polo Juazeiro/ Petrolina, in that obtains control of the land, water and all stages of production in the field by imposing stamp certifications as a determinant of the free movement of goods in the European market. Centered in the rules of accumulation and exploitation of the system capital, agro-hydro expands supported and encouraged by the state, as the only way to raise the standard of living of workers in town and country, justified the quantitative employment generated, which in turn, can result in unnecessary consumption of the city. While this discourse is divulgadado, land and water become appropriated by the owners of capital specifically for crop production required by the international market. Thus, demand for tropical fruits by countries that comprise the European Union has allowed the PAC to exert its total domination in the Valley, determining how to behave employee and employer, without necessarily having title to the land. Thus, the irrigation policy in areas that were implanted with the irrigated areas in particular: Bebedouro Nilo Coelho and Salitre has actually expanded production quantitatively and qualitatively, but this apparently positive balance has been extracted from the land rent , materialized in the precarious and temporary employees as well as the monopolization of land of small farmers who still has nominal bond with it. It is therefore the mediation of this land in the center of the factors that promote the separation between the place of production of the means of life that does not take the form of variable capital necessary reproduction of the worker and the place of production and reproduction of capital. With this, the surplus labor time that capital appropriates is shared by many capitalist agents in Polo and Europe. / Comprova-se na presente tese que: por ser a natureza do capital força extratora do trabalho excedente o faz sem fronteiras. Para tanto, a competividade internacional e a eficiência produtivista norteiam a Política Agrícola Comum Europeia a subtrair a riqueza do Polo Juazeiro/Petrolina, na medida em que obtêm o controle da terra, água e todas as etapas da produção no campo, mediante a imposição do selo de certificações como determinante à livre circulação da mercadoria no Mercado Europeu. Centrado nas regras de acumulação e exploração do sistema do capital, o agro-hidronegócio se expande apoiado e incentivado pelo Estado, como sendo a única saída para elevar o nível de vida dos trabalhadores da cidade e campo justificado no quantitativo de emprego gerado que, por sua vez, pode resultar no consumo de produtos supérfluos na cidade. Enquanto esse discurso é propagandeado, a terra e água passam a ser apropriadas pelos proprietários do capital especificamente para produção de cultivos requeridos pelo mercado internacional. Assim, a procura de frutas tropicais pelos países que compõem a União Europeia tem permitido que a PAC exerça seu total domínio no Vale, determinando como deve comportar-se empregador e empregado, sem necessariamente ter o título de propriedade da terra. Desse modo, a politica de irrigação nas áreas em que foram implantados os Perímetros Irrigados, em especial: Bebedouro, Nilo Coelho e Salitre têm de fato ampliado quantitativa e qualitativamente a produção; porém, esse saldo aparentemente positivo tem sido extraído da renda da terra, materializado no trabalho precarizado e temporário dos assalariados, bem como na monopolização da terra dos pequenos produtores que ainda têm vínculo nominal com a mesma. É, portanto, a mediação da renda fundiária que está no centro dos fatores que promovem a separação entre o lugar da produção dos meios de vida que não assumem a forma de capital variável, necessários à reprodução do trabalhador e o lugar de produção e reprodução do capital. Com isso, o excedente do tempo de trabalho de que o capital se apropria é repartido por muitos agentes capitalistas no Polo e na Europa.

The adoption of the Millennium Development Goal 1 (MDG1) of reducing the rate of poverty to half of the 1990-level by 2015, the advent of democracy in South Africa, among other things, have raised concerns over the potential role of the agricultural sector. There is a belief that the sector has the capacity to successfully reduce poverty among the rural masses and contribute to addressing the problem of inequality in South Africa. In line with that thinking, South Africa‘s agricultural sector has attracted considerable fiscal policy interest. For instance, South Africa‘s statistics show that public investments in agricultural development programmes have been growing. In spite of this, rural poverty is still a major concern on an overall basis. However, this might not be the case in the Eastern Cape Province and the situation might be different for each district municipality. This study assesses the linkages between public agricultural investment, agricultural growth and poverty reduction in the Eastern Cape Province. The study also addresses the question whether Eastern Cape Province is on course to meet several regional development targets. The study also aims to provide an estimate of the amount of agricultural investment required to attain the agricultural productivity growth rate which is sufficient to meet MDG1. The study reviewed the various theories of public spending, linkages between public investment and agricultural growth and how these components affect the incidence of poverty. The conventional wisdom that public expenditure in agriculture positively affects economic growth and this growth consequently reduces poverty was noted. The reviews also revealed that in many developing countries, the current level of public agricultural investment needs to be increased significantly for countries to meet the MDG1. This study employed the decomposition technique and growth elasticity of poverty concept to estimate the response of poverty to its key determinants. The size of public spending, prioritization of public spending and the intensity in the use of public funds emerged as important in increasing agricultural production. The relationship between government investment in agriculture and agricultural GDP shows iv that public funds were largely behind the province‘s success in increasing agricultural production throughout the period from 1990s to 2010. Agricultural spending went to sustainable resource management, administrative functions and then farmer support programme. Exceptional growth in the size of spending was recorded in respect to agricultural economic function, structured agricultural training, sustainable resource management and veterinary services. Overall output from the agricultural sector fluctuated, and the sector contributed less than 5 per cent to the total provincial GDP. Correlations between growth in agricultural sector and changes in the incidence of poverty in Eastern Cape show that during the period 1995 to 2000, increases in the agricultural GDP per capita may have failed to benefit the poor as poverty increased in all the reported cases.–However, for the period between 2005 and 2010, the situation was different and it was observed that increases in agricultural GDP per capita and were associated with reduction in the incidence of poverty. Growth elasticity of poverty (GEP) estimates reveal that agricultural GDP per capita was more important in reducing poverty in 5 out of the 7 district municipalities. Non-agricultural GDP per capita was only important in two district municipalities. It emerged that most of the district municipalities are not in a position to meet any of the regional set goals. This situation is largely attributable to the province‘s failure to boost agricultural production which is an outcome of low and inefficient public expenditure management, inconsistent and misaligned policies and failure to fully embrace the concept of pro-poor growth. Varied provisional estimates for the required agricultural growth rate and the increase in public spending on agriculture required in order to reach MDG1 were calculated for each district municipalities. All the district municipalities of Eastern Cape will need to increase public investment in agriculture for them to achieve MDG1.

The study was conducted in Mbozi and Ciko villages in Mbhashe Local Municipality of the Eastern Cape Province of South Africa. Two irrigation projects in the area were studied. Consumers and agricultural commodity traders in Willowvale Town, Dutywa, Butterworth and East London were also interviewed. The major objective of the study is to profile and map cabbage, maize and cattle food value chains broadly, and to understand their nature, constraints and opportunities in smallholder agriculture. A multi-stage random sampling procedure was used in which the first stage involved selecting the local government areas. This was followed by the selection of the district and then the respondents. A total of 168 participants were sampled in the proportion of 82 smallholder farmers, 41 consumers, 26 hawkers and 20 agricultural commodity traders. Focus group discussions and key informant interviews were also used during the data collection process. Value Chain mapping was done using the commodity based approach. All value chains under study indicated that they are short and commodities were transacted in unprocessed form. As cabbages and maize move from the farm to retail outlets, value addition start to take place through transportation to the market and processing in supermarkets. The cattle value chain however does not have a forward linkage beyond the two administrative boundaries of the two communities. Less than 3% of the farmers traded livestock, and this was mostly through private sales to neighbours. The farmers‘ major goal in agricultural production is assumed to be an important aspect in lengthening the value chain. As such, results of a Pearson‘s correlation exercise indicated that there is a significant relationship at 0.05% level between goals of the farmers and the village of origin. Some factors that showed significance (p=0.05) in influencing farmers‘ goals are membership of an irrigation project and household sources of income. An analysis of determinants of technical efficiency at farm level was performed using the stochastic frontier model for cabbage, maize and cattle enterprises. The results showed that rainfall adequacy, input costs, market channels and quantity sold are important determinants of cabbage production efficiency. On the other hand, maize production efficiency is positively determined by market price, area under production and rainfall adequacy. Market related variables are major drivers of the cattle value chain efficiency and these include cattle prices, market satisfaction, market channel and farm labour.

Foreign direct investment (FDI) has been touted in literature and by numerous studies on the topic as one of the main drivers of economic growth globally. Its benefits transcend from host to home countries, introducing related benefits that would not be realised without FDI. In sub-Saharan Africa, FDI is further regarded as one of the main avenues to alleviate resource deficits on the continent. Moreover, FDI is considered critical in mitigating socio-economic challenges experienced in many parts of the sub-continent. However, the continent lags behind the rest of the world in both outward FDI (OFDI) and inward FDI. Furthermore, intra-Africa FDI is also the lowest intra-regional FDI in the world. Various studies have been conducted on how MNCs strategise for their FDI initiatives and how the host country attributes render nations either attractive or otherwise to FDI. However, most of the studies have been premised on the developed world, mainly neglecting the unique characteristics of the continent. Africa has become a potentially attractive FDI destination for MNCs, as it has achieved consistently higher economic growth rates when compared to the rest of the world in the past few decades. However, the relatively few studies on the business environment, compounded by the often-negative media publication about the continent have rendered Africa a treacherous investment destination for MNCs. Democratic South Africa is a relatively new country in Africa. However, it is an important economic force on the continent due to superior resources and expertise formulated in the country over centuries. South African-originated MNCs currently form the bulk of MNC activity on the continent. However, SA MNCs have reported mixed fortunes in their OFDI endeavours in the rest of the sub-continent with many disinvestments, especially over the past two decades. These business closures continue up to the present day. This primary purpose of this study was to add to the existing literature on OFDI to ascertain scientific solutions to mitigate inappropriate business strategies being adopted by SA MNCs on the rest of the continent, especially those MNCs that invest in agribusiness. The study is unique in that it investigates the firm, host industry and overall host country attributes of OFDI in agribusiness. Furthermore, the study focused on the four regions of sub-Saharan Africa (East, West, Central and Southern Africa) to ensure that the regional dynamics of the continent are considered. The study also considered the effects of the different historical legal and business processes of the continent by factoring in anglophone, francophone and lusophone countries in the study. The formulation of this study and incorporation of these specifics therefore rendered this study different from existing studies. Furthermore, agribusiness is one of the most important industries in Africa, employing most of its populace, given the unique agrarian nature of the continent. However, there are negligible studies on FDI in agribusiness on the continent. To bridge this academic lacuna, the current study primarily focused on this sector that is critical to most African economies. The research, therefore, fills these gaps in the existing literature. The period under study was from 2000 to 2018. With the usage of annual data sourced from reliable sources in a robust panel regression approach, the findings of the study are as follows. Firm heterogeneity plays a critical role in the success of FDI initiatives. The study found that the asset base of an MNC was pertinent for the success of OFDI. Firms that relied on debt funding encountered challenges in OFDI processes. The research also found that profitability remained the main priority of MNCs, given that profitability and FDI share significant positive relationships. Interestingly, the findings established that MNCs that had a long history in their home countries struggled with OFDI, attributable to their limited ability to adapt their tried and tested home processes to new, unique markets on the rest of the continent. The findings on the agribusiness sector of host countries revealed that countries with progressive policies in agribusiness attracted additional and better FDI. For instance, investments in agri-infrastructure were beneficial to those host countries, showing that countries that prioritised agribusiness reaped the benefits, especially in the long term. Furthermore, there was clear evidence that FDI had a mutually beneficial relationship with crop and livestock production as well as value addition in agribusiness. There were mixed and useful findings regarding the impact of climate, food security and arable land as they relate to agribusiness FDI. Finally, the study supported the importance of institutional sturdiness on FDI. Although the study corroborated the direct relationship between FDI and economic growth, the findings revealed varied effects of the FDI relationship with unemployment, political stability and infrastructural development. The research findings inferred the importance of policy interventions to ensure that FDI initiatives are optimised to realise food security and growth in order to alleviate poverty and other social challenges experienced in the continent. / Business Management / D. Com. (Business Management)

The transformation of rural people and land to urban land and culture is a natural discourse and inevitable process. In the process, more than half of the current world population are living in urban centres. The number of urban centres and their population is rapidly increasing while the situation of integrated development of urban centres and rural areas such URELs for sustainable development have given less attention in agricultural based countries (ABCs). Multi-disciplinary (agriculture and agro-industries) integration, multi-spatial (urban centre and its hinterlands) linkages, multiscalar (micromeso and macro) levels, multi-actors and stakeholders involvement are the noteworthy innovations in the field of development studies. This study mainly focused on URELs for agribusiness and value chains under the development themes of governance and development as well as contemporary debates. Policies, institutional settings and practical implementation strategies of integrated and balanced development discourse of basic sectoral and urban-rural economic linkages (URELs) missed in ABCs such as Ethiopia‟s comprehensive development policy ADLI neglecting the rapidly growing urban centres. Owing to this, this study is designed to examine the challenges and problems, status and agribusiness and efficiencies of URELs for exploring theoretical empirical model for virtuous circle URELs. Methodologically, the study used sequential explanatory mixed methods research and cross-sectional survey design. The sequential approach was quantitative method, qualitative method and integrating the two findings on interpretation and discussion. The findings present truncated BPLs and FPLs of agriculture and agroindustries. It was was mainly due to poor and greater ranges of efficiency from TE, AE and EE for both agriculture and agro-industries, form of government as ethnic-federalism and regionalism, violation of the existing institutional frameworks, dejure-defacto discrminatin, government businesses, policy and institutional settings, lack of R&D, many paradoxical acts and poor resources mobilization and utilization. These problems and challenges are taken as potential opportunities for improvement and new lens of developing empirical model. The overall recommendation lies on creating enabling environment for virtuous circle URELs and integrated regional development using regional development approach, avoiding illegal interventions, import-export balance, proper resource mobilization and utilization. / Development Studies / D. Litt. et Phil. (Development Studies)