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A survey of strategy formulation practices in large financial services businesses in South AfricaBehr, Rolf Gregory 12 1900 (has links)
Thesis (MPhil)--Stellenbosch University, 2010. / The research undertaken in this paper explores the strategy formulation practices of large financial services organisations in South Africa. Following a review of academic sources, it was concluded that strategy formulation comprises three distinct but interdependent activities. The first is that of foresight development, followed by strategy development and finally strategic or business planning. In addition, a variety of approaches to stakeholder engagement are possible. A review of similar research identified primary research into foresight practices in Europe and the professional experiences of two South African chartered accountants of strategic or business planning. No research on strategy development was identified. Thus, the researcher chose to conduct primary research in the form of a survey to interrogate each of the strategic activities. This focused on the level of resourcing applied to each activity, the tools used, the time horizon adopted and the breadth of stakeholder engagement. A review of the South African financial services industry suggested that banking, short-term insurance and long-term insurance needed to be included in the sample. An analysis of the respective organisations‟ market share for most key products was completed. This produced a sample of twelve organisations which had a market share in excess of 10per cent as at 31 December 2009 with the exception of those selected based on total life insurance premiums, which were based on December 2008 data due to information availability. Of the twelve organisations identified 66per cent (or eight) responded to the survey which was conducted using an online survey tool. Three respondents chose to respond telephonically when contacted by the researcher. The respondents for the respective organisations were either senior managers, in several cases members of the executive team, or people involved with strategy formulation at a corporate or group level. In order to increase the response rate, the survey was conducted anonymously, thus limiting comparison been organisations and industry sectors. The result of the analysis highlighted two key dimensions on which organisations differed. The first is the time frame used. Only two organisations regularly look more than three years ahead. The second is that of stakeholder engagement. Half of the respondents are interactive and include employees in the strategy formulation process, while the other half is autocratic limiting strategy formulation activity to management and often senior management only. This lead the researcher to conclude that while a wide array of strategy formulation tools are applied, many South African financial services organisations have opportunity to improve their strategy formulation practice by being more inclusive and adopting a longer and more holistic approach to scanning and foresight as part of the foresight development activity.
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Scaling up microfinance institutions : a case study of the Kuyasa FundHenwood, Olivia 03 1900 (has links)
Thesis (MBA)--Stellenbosch University, 2009. / ENGLISH ABSTRACT: Globally microfinance is recognised as an important tool in addressing poverty and in
building the assets of poor people. Housing microfinance is emerging as an important tool
for assisting poor people to improve their housing conditions and to build their asset
values. However, microfinancial institutions are perpetually dogged by small scale
financially unviable operations. This study seeks to identify the factors that must be
present to ensure that a microfinance initiative is able to scale up significantly, and further
investigates the Kuyasa Fund as an example of a microfinance organisation that is scaling
up.
The McKinsey 7S model is used to evaluate the Kuyasa Fund’s plans for scaling up and
the shared values, strategy, structure, skills, staffing requirements, style and systems of
the Kuyasa Fund is examined in determining the scalability of the Kuyasa Fund. Overall
Kuyasa have either already addressed the critical factors in determining its growth or it is
in the process of addressing those factors.
The biggest strengths of the Kuyasa Fund in its growth plans are the cohesive strategy
and in the compelling strategic intent that represents its shared values. However in the
medium and long term the greatest challenge is located in the long-term financing and
transformation of the Kuyasa Fund from a non-profit to a for-profit entity that has equity
shareholders. In achieving this transformation Kuyasa would be required to balance its
development objectives with the requirements of equity holders, who will require
prescribed rates of return. Preventing mission drifts and achieving scale will be the most
important tensions to balance.
To mitigate these risks and to set clear guidelines for its operations, the Kuyasa board
developed clear criteria for the evaluation of equity partners and the board also set a
trajectory for the transformation of Kuyasa to a company. The intention of these is to guide
the Kuyasa operation towards the milestones that must be reached before conversion and
to set the criteria to select partners.
The Kuyasa Fund’s path to conversion from a small niche player limited to one province to
a national role player, transformed into an equity holding company will present interesting
material for learning about scaling up development efforts, and not just for microfinance. / AFRIKAANSE OPSOMMING: Mikrofinansiering word wêreldwyd erken as ‘n belangrike hulpmiddel in die stryd teen
armoede en in die bou van bates vir arm mense. Behuising-mikrofinansiering is besig om
as ‘n belangrike instrument na vore te tree om arm mense te help om hul
behuisingsomstandighede te verbeter en hul batewaarde op te bou.
Mikrofinansieringsinstansies word egter aanhoudend lastig geval deur kleinskaalse
besighede wat nie finansieel lewensvatbaar is nie. Hierdie studie poog om die faktore te
identifiseer wat teenwoordig moet wees om te verseker dat ‘n mikrofinasieringsinisiatief
beduidend kan uitbrei en ondersoek verder die Kuyasa Fund as ‘n voorbeeld van ‘n
mikrofinansieringsorganisasie wat tans uitbrei.
Die McKinsey 7S-model word gebruik om die Kuyasa Fund se planne vir uitbreiding te
evalueer. Die Kuyasa Fund se gedeelde waardes, strategie, struktuur, vaardighede,
personeelvereistes, styl en stelsels word ondersoek om die uitbreidingsmoontlikhede van
die fonds te bepaal. Oorhoofs het Kuyasa alreeds die kritiese faktore aangespreek wat hul
groei bepaal of hulle is in die proses om hierdie faktore aan te spreek.
Die grootste sterkpunte van die Kuyasa Fund se uitbreidingsplanne lê in die
samehangende strategie en in die gebiedende strategiese rigting wat sy gedeelde
waardes verteenwoordig. In die medium- tot langtermyn is die grootste uitdaging geleë in
die langtermyn-finansiering en transformasie van die Kuyasa Fund van ‘n niewinsgewende
tot ‘n winsgewende entiteit met ekwiteitsaandeelhouers. Ten einde hierdie
transformasie deur te gaan, sal van Kuyasa vereis word om sy ontwikkelingsdoelwitte te
balanseer met die vereistes van die aandeelhouers, wat hul eie opbrengskoerse sal
vereis. Om koersvas hul missie na te streef teenoor die beplande uitbreiding te behaal sal
die belangrikste spannings wees om te balanseer.
Ten einde hierdie risiko’s te beperk en duidelike riglyne daar te stel vir sy bedrywighede,
het die Kuyasa raad duidelike kriteria ontwikkel om ekwiteitsvennote te evalueer. Die raad
het ook ‘n vorderingsplan bepaal vir die transformasie van Kuyasa tot ‘n maatskappy. Die
bedoeling hiervan is om die Kuyasa bedryf te lei op die pad na mylpale wat bereik moet
word voordat omskakeling kan plaasvind en om kriteria daar te stel om vennote te kies. Die Kuyasa Fund se pad na omskakeling van ‘n klein niche speler, beperk tot een
provinsie, tot ‘n nasionale rolspeler, wat getransformeer het tot ‘n ekwiteitsmaaskappy sal
interessante leergeleenthede bied oor die uitbreiding van ontwikkelingsmaatskappye en
nie net op die gebied van mikrofinansiering nie.
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Strategy-making trends : a case study of the financial regulator in NamibiaKafidi, Petrus Lineekela 12 1900 (has links)
Thesis (MBA)--Stellenbosch University, 2014. / Research on strategy has been focusing at organisational level, mostly on practices such as strategic planning, strategy workshops and consultancy practices. With the emergence of strategy-as-practice, the focus has been redirected to explore beneath organisational-level processes and bring to the fore the role that people play in the practice of strategy. This research project looked at the practice of strategy within the Namibia Financial Institutions Supervisory Authority (NAMFISA), the financial regulator in Namibia. Strategy is seen within this research project as something that is ‘done’ by actors who are referred to as ‘practitioners’ of strategy. Strategy-as-practice research is a relatively new field of strategy research.
This assignment has aimed to add to the fast growing body of knowledge in the strategy-as-practice research field and it forms part of a collaborative between the University of Stellenbosch Business School (USB) and The Narrative Lab. The researcher explored how strategy is practised within NAMFISA, as the case study company. The assignment points out the strategy actors, the practices and processes they follow as well as the tools they use to plan and execute the NAMFISA strategy. The researcher took an activity-based view and paid special attention to practitioners, practices and praxis (Jarzabkowski, 2005) involved in strategising as well as the manner in which NAMFISA ‘does’ strategy.
The system aspects of Biomatrix theory, namely environment, ethos, aims, processes, structure, governance and matter, energy and information (Mei), as described by Dostal, Cloete and Járos (2005), were also integrated into the research wherever they were deemed to affect the practice of strategy at NAMFISA. The above-mentioned aspects, in conjunction with the elements of the activity-based view and the strategising matrix (Jarzabkowski, 2005), shaped the basis for the analysis which was done using the ATLAS.ti tool. After the first analysis, a second analysis was performed using SenseMakerTM Explorer, another qualitative analysis tool which helped in gaining an in-depth understanding of the findings obtained using the ATLAS.ti tool. During the second analysis exercise, the respondents were requested to self-index their own narratives about the strategy activities at NAMFISA.
Practices were found to be dominated by planning and discussions and praxis occurred predominantly at the meso level within NAMFISA. As the practice of strategy is entrenched, procedural strategising was found to be the most dominant of the strategising matrix, followed by interactive. No element of preactive strategising was observed. Planning was done by the executive and middle managers, mostly at annual strategic retreats. The use of external consultants was minimal. The research concluded with recommendations for further studies on strategy-as-practice research in Southern Africa.
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Credit demand and credit rationing in the informal financial sector in UgandaOkurut, Francis Nathan 4 1900 (has links)
Dissertation (PhD) -- University of Stellenbosch, 2005. / ENGLISH ABSTRACT: This study was motivated by the need to determine the key factors that influence credit
demand and credit rationing in the informal financial markets so as to contribute to policy
formulation to improve access for the poor in Uganda to the broader (formal and informal)
financial sector.
The results of the study suggest that credit demand in the informal financial sector is
positively and significantly influenced by capacity related variables (education level, and
household expenditure) at the household level, and the informal lenders' credit rationing
behaviour is also negatively and significantly influenced by household wealth factors (asset
values). The same variables have similar effects in the models for credit demand and credit
rationing in the broader financial sector.
Since households demand credit for both investment and consumption smoothing, improved
access to the broader financial sector will enable them to acquire more wealth, and move out
of poverty in the long run.
The policy options to improve small borrower access to the broader financial sector include
provision of incentives to banks to serve the smaller borrowers, development of credit
reference bureaus, provision of innovative insurance products to the poor, and broader
economic policies that enable households to acquire more wealth. In addition appropriate
linkages need to be developed between the formal and informal financial sectors so as to
broaden the financial system. / AFRIKAANSE OPSOMMING: Hierdie studie is gemotiveer deur die behoefte om die sleutelfaktore te identifiseer wat die
vraag na krediet en kredietrantsoenering in die informele finansiele markte bemvloed ten
einde In bydrae te kan maak tot beleid om beter toegang vir die armes tot die bree (formele
en informele) finansiele sektor in Uganda te bewerkstellig.
Die resultate van die studie dui aan dat die vraag na informele krediet In betekenisvolle en
positiewe verwantskap toon met kapasiteitsverwante veranderlikes (vlak van opvoeding en
huishoudelike besteding) op die huishoudingvlak. Informele uitleners se
kredietrantsoeneringsoptrede toon In betekenisvolle en negatiewe verwantskap met
huishoudings se vlak van rykdom (batewaardes). Dieselfde veranderlikes toon soortgelyke
verwantskappe in die geval van die modelle vir kredietvraag en kredietrantsoenering in die
bree finansiele sektor.
Huishoudings se vraag na krediet is vir beide investeringsdoeleindes en om In meer egalige
verspreiding van verbruik te verkry. Daarom sal verbeterde toegang tot die bree finansiele
sektor hulle in staat stel om meer rykdom te bekom en so uit armoede in die langer termyn te
ontsnap.
Die beleidsopsies om kleiner leners beter toegang tot die bree finansiele sektor te bied, sluit
in voorsiening vir insentiewe aan banke om klein leners te bedien, die ontwikkeling van
kredietverwysingsburo's, die voorsiening van innoverende versekeringsprodukte aan die
armes, en breer ekonomiese beleid wat huishoudings in staat sal stel om meer rydom te
bekom. Toepaslike skakeling tussen die formele en informele finansiele sektore moet ook
ontwikkel word ten einde In verbreding van die finansiele sektor te bewerkstellig.
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Financial services for poor South Africans : an analysis of financial serivices cooperativesNigrini, Morne 12 1900 (has links)
Thesis (MComm)--Stellenbosch University, 2005. / ENGLISH ABSTRACT: South Africans earning less than Rl 440 per month (18 million adults) and less than R2 880 per
month (29 million adults) are regarded as poor and relatively poor respectively. Of the relatively
poor, 78% are unbanked, i.e. do not have access to a formal bank account, while 86% of the poor
are unbanked.
These figures show clearly that commercial banks do not meet the financial needs of many people,
especially the poor for savings, credit, transmission and insurance services. Therefore the
importance of those institutions that do not form part of the formal financial sector and provide
micro savings and micro credit services, generally referred to as micro finance, to the poor at the
local level on a sustainable basis.
The objective of this research is twofold.
Firstly, a review of the literature on micro finance in general to establish the financial needs of the
poor, the constraints formal financial institutions face in providing micro financial services and to
identify best practice regarding the provision of financial services to the poor in order to be in the
position to form an opinion on institutional success.
Secondly, to analyse a specific South African micro finance initiative, Financial Services
Cooperatives (FSCs), to identify how FSCs relate to the international best practice and to establish
whether they are successful in addressing the financial needs of the poor.
A FSC is a financial institution through which micro finance services (savings, credit, transmission
and insurance) are extended to unbanked households in a rural village. It utilises a community's
rules, customs, relationships, knowledge, solidarity and resources combined with formal financial
methods and concepts. The FSC is initiated, owned, financed and managed by the villagers themselves. FSCs are registered cooperatives under the Cooperative Act of 1981 and may accept
deposits from their members in terms of an exemption from the Bank Act of 1990. Currently, FSCs
experience problems in providing credit, transmission and insurance services, preventing them from
intermediating between borrowers and savers.
After reviewing the above-mentioned international best practice the conclusion reached with regard
to FSCs includes the following:
FSCs only provide savings services and therefore do not intermediate between borrowers and savers
as required for a financial institution. This in tum prevents them from being sustainable. FSCs'
failure can be ascribed to the restrictive legislation, unsuccessful regulation and supervision. New
legislation is currently under review that will change the landscape for micro finance and
specifically for FSCs. / AFRIKAANSE OPSOMMING: Suid-Afrikaners wat minder as Rl 440 per maand (18 miljoen volwassenes) en minder as R2 880
per maand verdien (29 miljoen volwassenes) word onderskeidelik as arm and relatief arm
bestempel. Agt-en-sewentig persent van dié wat relatief arm is, het nie toegang tot 'n formele
bankrekening nie, terwyl 86% van dié wat arm is, geen toegang het nie.
Hierdie syfers toon duidelik dat kommersiële banke nie aan die finansiële behoeftes, met betrekking
tot spaar-, krediet-, transmissie- en versekeringsdienste van baie mense voldoen nie, veral nie die
armes nie. Daarom dat instellings wat nie deel vorm van die formele finansiële sektor nie en mikrobesparings
en mikro-krediet, algemeen bekend as mikro-finansies, in 'n plaaslike gebied en op 'n
volhoubare basis verleen, belangrik is.
Die doel van hierdie navorsing is tweeledig:
Eerstens, bied dit 'n oorsig oor die mikro-finansiering literatuur ten einde die finansiële behoeftes
van die armes te ondersoek en die beperkings wat formele finansiële instellings ondervind om
mikro-finansiële dienste te verskaf, aan te stip. Beste praktyk rakende die voorsiening van
finansiële dienste aan die armes word geïdentifiseer, om sodoende in 'n posisie te wees om 'n
opinie te kan vorm oor institusionele suksesfaktore.
Tweedens, om a spesifieke Suid-Afrikaanse mikro-finansiële inisiatief, Finanical Services
Cooperatives (FSCs) te ondersoek, ten einde vas te stel hoe hierdie inisiatief vergelyk met
internasionale beste praktyk en hoe suksesvol dit is in die voorsiening van finansiële dienste aan die
armes.
'n FSC is 'n finansiële instelling waardeur mikro-finansiële dienste (spaar-, krediet-, transmissie- en
versekeringsdienste) verskaf word aan diegene in 'n plattelandse nedersetting wat nie toegang tot formele bankdienste het me. FSCs maak gebruik van 'n gemeenskap se reëls, gebruike,
verhoudings, kennis, solidariteit en hulpbronne en kombineer dit met formele finansiële metodes en
konsepte. Dit is 'n inisiatief van die gemeenskap en word deur die inwoners van die nedersetting
besit, finansier en bestuur. FSCs is geregistreerde koëperasies in terme van die Ko-operatiewe Wet
van 1981, en mag ook deposito's van hulle lede aanvaar op grand van 'n vrystelling van die
Bankwet van 1990. Tans ondervind FSCs probleme in die verskaffing van krediet-, transmissieen
versekeringsdienste wat hulle verhoed om as tussenganger tussen leners en spaarders op te tree.
Na die oorweging van die internasionale beste-praktyk, kan die volgende gevolgtrekking rakende
FSCs gemaak word:
FSCs tree nie op as tussenganger tussen leners en spaarders nie, soos vereis word van 'n finansiële
instelling nie. Dit beperk gevolglik volhoubaarheid. Die mislukking kan toegeskryf word aan
beperkte wetgewing, onsuksesvolle regulering en supervisie. Nuwe wetgewing is tans onder
oorweging wat die landskap vir mikro finansiering en veral vir FSCs sal verander.
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智慧資本與企業績效關連性之研究-以台灣資訊電子業和金融服務業為例 / The Study on the Relationship among Intellectual Capital and Business Performance: Cases of Information and Electronic Industry and Financial Services Industry in Taiwan李子佑, Lee, Tzu Yu Unknown Date (has links)
本研究之架構主要是探討台灣具有代表性的產業,其智慧資本是否影響企業績效、影響的途徑和影響力的強弱。
另外,本研究除了探討智慧資本對企業績效直接的影響外,接著再著手探討對企業績效無顯著正向影響的智慧資本類別,是否透過其他智慧資本當作中介,對企業績效產生間接的正向影響。
而為了避免產業間特性的不同對結果造成影響,故本研究僅針對台灣兩個特定產業進行研究分析。在挑選預分析的產業時,主要的考量為台灣代表性的產業,最後選擇資訊電子業和金融服務業為主要研究的對象。
在瞭解智慧資本對企業績效是否有正向影響以及影響途徑之後,本研究另外再利用上述實證的結果,探討當所處的產業不同時,智慧資本對企業績的影響有無異同,並且著手比較其兩者之間相同和相異之處。 / The framework of this study deals with the issue about whether Intellectual Capital impacts business performance, the path of such impact, and the strength level of this influence.
Besides investigating the direct impact of Intellectual Capital to business performance, this study paid attention to certain categories of Intellectual Capital that didn’t bring positive significant influence to business performance. This study tried to find out whether such kinds of Intellectual Capital produce indirect impact on business performance through other Intellectual Capital as the mediator.
In order to eliminate the biased results coming from the diversified characters in different industries, this study focuses on two specific industries in Taiwan. This study choice information and electronic industry and financial service industry as research samples because these two industries play imperative roles among others in Taiwan.
Based on the result of investigating whether Intellectual Capital has positive influence to business performance and what its path, this study also use the evidence from empirical study to survey and compare the relationship between Intellectual Capital and business performance in different industries.
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An analysis of the effectiveness of microfinance: A case study in the Western Cape.Sheraton, Marcia January 2004 (has links)
The aim of this study is to determine the extent to which the UN/OSCAL (United Nations Office of the Special Coordinator for Africa and the Least Development Countries) model of microfinance is being applied in the South African context, its scope for application and recommendations for implementation. The hypothesis is that, the better South African microfinance initiatives conform to the model, the more successful it will be in fulfilling the ultimate mission of microfinance which is to supply financial services to the poor by cutting the cost of outreach with beneficial effects on poverty..
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Big 4 global networks: degree of homogeneity of audit quality among affiliates and relevance of PCAOB inspectionsUnknown Date (has links)
The Big 4 global networks (Deloitte, Ernst & Young [E&Y], KPMG, and
PricewaterhouseCoopers [PwC]) market themselves as providers of worldwide seamless services and consistent audit quality through their members. Under the current environment in which these auditors operate, there are three types of global network members: inspected non-U.S. affiliates (inspected affiliates, hereafter), non-inspected non-U.S. affiliates (non-inspected affiliates, hereafter), and inspected U.S. offices (U.S. offices, hereafter). The recent suspension of the China-based Big 4 affiliates from auditing U.S.-listed companies calls into question whether these global networks can deliver the same level of audit quality across all their members and whether those located in jurisdictions denying access to the Public Company Accounting Oversight Board (PCAOB or Board, hereafter) to conduct inspections may benefit from such inspections. This study examines the effect of being an affiliate and the effect of PCAOB inspections on perceived audit quality. I use earnings response coefficients (ERCs) as a proxy for perceived audit quality. / Includes bibliography. / Dissertation (Ph.D.)--Florida Atlantic University, 2015. / FAU Electronic Theses and Dissertations Collection
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Regulação sistêmica e prudencial no setor bancário brasileiro / Systemic and prudential regulation in the Brazilian banking sectorPinto, Gustavo Mathias Alves 03 May 2011 (has links)
O objeto do presente trabalho é o diagnóstico do arcabouço regulatório pátrio destinado à prevenção de crises bancárias, quais sejam a regulação sistêmica e a regulação prudencial, e como as transformações ocorridas no sistema financeiro na segunda metade do século XX o afetam. A partir desse estudo, o trabalho pretende demonstrar que, embora a regulação sistêmica e a regulação prudencial no País tenham incorporado avanços notáveis nas últimas décadas, ainda há falhas significativas a serem corrigidas e desafios a serem enfrentados. Se por um lado o atual arcabouço regulatório é marcado por exigências e controles mais rigorosos que os encontrados em outros países, por outro lado, constam também inúmeros instrumentos de resgate a bancos sendo aplicados de forma desordenada, sem regras claras, com pouca ou nenhuma prestação de contas, e até mesmo desvirtuando o propósito original de alguns desses instrumentos. A presença de uma multiplicidade de mecanismos de resgate com tais características é uma preocupante fonte de risco moral no mercado. Outrossim, o exame das transformações ocorridas no Sistema Financeiro Nacional nas últimas décadas evidencia que as dificuldades enfrentadas por autoridades bancárias em outros países, como o fenômeno do grande demais para quebrar e o monitoramento do risco sistêmico em um contexto de conglomeração financeira, já são uma realidade no País, representando desafios para a regulação sistêmica e a regulação prudencial, e provocando a reflexão sobre as consequências desses movimentos no setor bancário nacional para o arcabouço regulatório vigente. Em conclusão, o trabalho pretende demonstrar que, apesar de seus inegáveis méritos, a exaltação ao arcabouço regulatório pátrio em face de seu desempenho considerado positivo na crise financeira recente deve ser vista com temperamentos, e que a atuação das autoridades bancárias nos próximos anos deve ser mais centrada na correção das falhas identificadas e reflexão sobre os desafios apresentados. / The study aims at evaluating the national regulatory framework designed to prevent banking crises (e.g. systemic and prudential regulation), and how the transformations that occurred in the financial services industry throughout the second half of the 20th century affect it. Based on this analysis, the study intends to demonstrate that, albeit the systemic and prudential regulation in Brazil have incorporated important developments over the last decades, there still are significant flaws that need to be fixed and challenges to be faced. If, on the one hand, the current regulatory framework is marked by demands and controls that are more rigorous than those adopted by other countries, on the other hand, the mechanisms designed to rescue distressed banks are being applied in an unorganized manner, without clear rules, little or no accountability, and even distorting the original purpose of some of these mechanisms. The presence of this variety of rescue mechanisms with such characteristics is a concerning source of moral hazard. Furthermore, the examination of the transformations in the financial system in recent history shows that the challenges faced by banking authorities in other countries, such as the too big to fail phenomenon and the complexity of monitoring systemic risk in the context of financial conglomerates, are also present in Brazil, creating challenges to the current regulatory framework, and claiming a reflection on the consequences of such transformations in the national financial services industry. In conclusion, the study aims at demonstrating that, despite its unquestionable merits, the exaltation to the Brazilian systemic and prudential regulation in light of the countrys performance in the recent financial crisis should be analyzed with caution, and that the role of the banking authorities over the next years should be focused in fixing the flaws identified in the analysis and reflection over the challenges discussed throughout the study.
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Investigating channels of cash circulation adopted by unbanked (African) migrants in Pretoria Central Business District (CBD)Mavodza, Emma January 2016 (has links)
Research Report submitted in partial fulfilment of the requirements of a Master of Arts Degree in Development studies by Coursework and Research Report.
Faculty of Humanities, University of Witwatersrand
2016 / This study explored cash circulation channels adopted by unbanked migrants in Pretoria Central Business District (CBD), South Africa. To understand the complex nature of cash circulation and the subjective practices of migrants, in-depth interviews were conducted with sixteen migrants selected through snowballing sampling. Collected primary data were analysed thematically, from particular to general themes depending on the responses provided by the informants. The study adopted the Sustainable Livelihoods Framework (SLF) as an analytical tool to show how in the face of structural and institutional barriers, unbanked migrants have the capability to adopt digital solutions and socially embedded channels which are more flexible and sustainable in their livelihoods. These include informal channels such as hawala, malaichas and digital solutions like Kawena and Mukuru. By using this framework, the report reveals what unbanked migrants are doing on the ground, what shapes adopted cash circulation processes and the resultant livelihood outcomes. The study aimed at contributing to previous research on money transfer mechanisms adopted by unbanked African migrants. The conclusion reached is that, by adopting various socially embedded cash circulation channels, unbanked migrants circumvent structural constraints and, by so doing, financially include more people who were previously excluded. Although the study was limited to a small sample, it raises strong implications for policy makers to look at the inherent strength of migrants as development actors. Findings from this exploratory study are critical in that they open new niches for research on migrants and financial exclusion in Africa and beyond. / GR2017
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