A thesis submitted to the Faculty of Commerce, Law and management, University of Witwatersrand, Johannesburg in fulfilment of the requirements for the degree of Doctor of Philosophy in Business Sciences. Johannesburg, November 2017. / The conceptualisation of core values indicate that they are guiding principles in shaping organisational culture. Furthermore, values enhance firm efficiency if they are well integrated in all business processes. Despite the fact that core values motivate employees, SMEs in the informal economies of developing countries do not provide a list of core values to employees. The purpose of this study, therefore; was to establish the commonly practiced core values in Uganda’s informal economy and whether such core values could motivate and reinforce behaviour among employees and at the same time, foster entrepreneurial performance. The study adopted a mixed methods approach. In this case, the sample size for qualitative interviews was twenty-five respondents whereas the sample size for the quantitative survey was three hundred and eighty-six (386) respondents. The interviews were guided by a semi-structured interview guide and revealed that the commonly practiced core values in Uganda’s informal economy are; cleanliness, trust, fairness, responsibility and respect. It was established that core values motivate and reinforce employee behaviour. The quantitative survey was done using a questionnaire with a five- point Likert scale. Hypotheses and mediation tests were carried out by way of structural equation modeling, using AMOS and Sobel’s test respectively. Results from all hypotheses’ tests indicated significant positive relationships between predictor and outcome variables. However, the relationships of; motivation and entrepreneurial performance and legitimacy and entrepreneurial performance were positive, but insignificant. In addition, it was discovered that the reinforcement theory is applicable in Uganda’s informal economy. Based on the results of this research, it is recommended that SMEs should seek to acquire skills on how to fully turn legitimacy and motivation into business advantage and how to use core values as tools for advertising and marketing the business. Finally, the Ministry of Gender, Labour and Social Development, with help from local governments, should design a policy to tempt SMEs to voluntarily engage in community service, especially cleaning up water and drainage channels to improve cleanliness in the communities as well as improving on business legitimacy. / GR2018

This study investigates the relationships between cash management and growth of informal businesses in Uganda. Whereas anecdotal evidence has for some time revealed that informal businesses in Uganda are faced with the challenge of cash management, no specific studies have been conducted to investigate how this relates to the growth of businesses where evidence has also indicated that most of these businesses do not exist for very long. In particular, the study assesses and explores the growth levels of informal businesses in terms of sales volume, growth in employment and length of existence. The study investigates the various ways in which informal businesses manage their cash and investigates the various internal and external factors that moderate cash management and the growth of the informal businesses. Furthermore, the study proposes a possible framework to manage cash in informal businesses and makes recommendations to informal business owners and managers on how to effectively manage cash in order to stimulate business growth. In order to investigate the relationships between the variables, an empirical investigation was undertaken. Based on the literature review, the primary objective of the study was formulated to investigate the relationships between cash management and growth of informal businesses amidst the external and internal environment in Uganda in order to suggest a framework for effective management of cash by informal businesses that would enhance their growth. A positivistic research paradigm was adopted in this study. A sample of 383 informal businesses was drawn from the five divisions of Kampala district namely; Central, Kawempe, Makindye, Nakawa and Rubaga. To ensure validity and reliability, EFA and Cronbach’s alpha coefficient were computed. Six hypotheses were developed to test the relationships between cash management and growth of informal businesses. The empirical results revealed that there is a significant relationship between cash management and the external environment in which informal businesses operate, a significant relationship between the external environment and the growth of informal businesses and a significant relationship between cash management and growth of informal businesses where the external environment will have a moderating influence on the relationship. The empirical results did not establish a significant relationship between cash management and the internal environment in which informal businesses operate, the internal environment and growth of informal businesses and cash management and growth of informal businesses where internal environment will have a moderating influence on the relationship. The results of this study show that the growth of informal businesses is largely hampered by poor cash management practices and challenges such as the lack of cash planning, lack of cash forecasting and budgeting, lack of financial controls and reporting, the tendency to invest largely in short-term assets which limits their profitability, the employment of less competent and skilled staff and lack of formal accounting information systems. The magnitude of the impact of these is accelerated by the external environment such as competition and the legal and regulatory environment which put pressure on the little cash resources owned by these businesses. Based on the study results, several strategies based on individual cash components of cash planning, cash forecasting and budgeting, financial controls and reporting, short-term investment of cash surplus, competence and skills of staff and accounting information systems were recommended for implementation. It was further recommended that these strategies should be implemented while giving due attention to the external environment if informal businesses are to effectively manage cash and enhance their growth.

Thesis (Ph.D.)--University of the Witwatersrand, Faculty of Commerce, Law and Management, Wits Business School, 2016 / Financial Inclusion seeks to overcome the friction that hinders markets from expanding access and use of formal financial products and services to a broad number of people. Despite the significant policy efforts and increased presence of formal financial service providers, the Ugandan economy still bears low levels of financial inclusion, especially in the rural areas. The finance growth and decision-behaviour theories substantiate the importance of understanding the psychological processes underlying observed individual judgments or choices regarding the use of formal financial services. Using Sen’s capability approach, this study examined the personal and societal capabilities that influence financial inclusion of individual financial consumers. Specifically, this study assessed whether the capabilities an individual possessed actually contributed towards their likelihood of financial inclusion. The hypothesized study relationships with financial inclusion were realized, following a positivist and quantitative approach using a cross sectional research design. The sample of 400 individuals to whom the survey questionnaire was delivered were drawn from two distinct regions of Central and Northern Uganda. The two regions represented varying levels of financial inclusion - high inclusion (urban Central) and low inclusion (rural Northern). In this study, besides the traditional regression models, structural equation modelling using Analysis of Moments (AMOS), were used to establish the causal relationships between the hypothesized study variables. The study results revealed that financial self-efficacy, financial literacy, social networks and the interaction of the personal and societal capabilities significantly contributed to an individual’s financial inclusion across the two regions. The results further revealed that the personal and societal capabilities independently, and when combined, contribute towards an individual’s financial self-efficacy. Through an assessment of the mediation effect, this study demonstrated how financial self-efficacy can boost individuals to confidently undertake financial tasks and decisions and consequently, financial inclusion in relation to their capabilities, respectively. The results provide support to Sen’s capability theory as a tool for explaining financial inclusion from a demand side perspective within the Ugandan context. / GR2018

This study was prompted by the lack of information on women traders associations in the African context. Women’s participation in the informal economy is increasing due to factors such as high unemployment rate, women’s lower education level compared to men and, the flexibility of entry and exit in the informal sector compared to the formal sector. In general, informal workers do not hold any formal contract determining minimum wage, employment benefits or social protection. Women continue to face very high barriers to have access to education and training because of the on going gender biases in many societies. Traders associations could hold the potential to relieve women traders from their daily burdens in public markets. This study uses the theory of social exclusion to examine different barriers women face in the market, and the role of traders associations hold in their inclusion. The nature of the informal sector makes it difficult for traders associations to organise and provide services to their women members. Poorer women within traders associations have serious challenges in trying to be more assertive in their local communities and markets. Gender, class, kinship and ethnicity could all combine to account for their low status in their communities. Women’s integration within trade organisations depends largely on the negotiation of their terms of inclusion. Unfair terms of inclusion can potentially lead and continue unequal power relations as well as wealth inequality among traders. Qualitative methods were used in this study of women traders in St Balikuddembe market, Kampala, Uganda. Over a period of six weeks, 25 days were spent in the market carefully observing women at work, and then conducting 20 individual interviews and two focus group discussions. The role which traders associations play in women’s lives, the influence they hold in the association and the procedure of integration in the market were examined. The study revealed that the size of the main traders association for women determines the level of exclusion and its implication in its women members lives. Although OWA could be defined as an MBO, there is in fact a gap in their organisational structures in order to help women integrate better the market. It is in fact too large to be able to reach members, and is not accountable to them. The effect of social exclusion was identified in the gender, class and age of the women. Women traders of St Balikuddembe market, in trying to achieve inclusion, form smaller self- help groups in addition to the large one. Both kinds of association play very different roles and perform different functions which are equally important in the lives of the women traders. / Thesis (M.Dev.Studies)-University of KwaZulu-Natal, Durban, 2011.

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.