No description available.

Thesis (MA)--Stellenbosch University, 2000. / ENGLISH ABSTRACT: This assignment seeks to explore the role of privatisation in attracting foreign direct investment (FDI) to South Africa and Zambia. In doing this, literature review method based on primary and secondary documentary sources have been utilised. In order to attract FDI, the study revealed that it is necessary to get the policy environment right. Creating an investor-friendly environment which promises good return on investment in line with the international "regulatory" framework - the World Bank's International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA) and the World Association of Investment Promotion Agencies (WAIPA) requirements - is therefore significantly important. The World Bank regards Zambia's privatisation programme as the model for Africa. South Africa finds itself in a contradictory position. On the one hand it is the leading economic power in Africa, while on the other hand it still lags behind in terms of restructuring its parastatals. Privatisation programme in South Africa has been very slow. However, the government and other stakeholders, particularly in 1997, have been trying to get privatisation off the ground. The conclusion is that both South Africa and Zambia succeeded in attracting FDI through their processes of privatisation. In both countries major FDI inflows have been an outcome of privatisation. FDI is important for creating employment, debt reduction, empowerment, transfer of technology and managerial skills. However, these countries follow different approaches to privatisation. Due to the slow privatisation pace in South Africa, it is recommended that South Africa learn from Zambia's approach and experience. This would enable South Africa to fully explore some of the benefits of privatisation. / AFRIKAANSE OPSOMMING: Hierdie opdrag ondersoek die rol van privatisering in die trek van direkte buitelandse beleggings (DBB) in Suid-Afrika en Zambie. Ten einde hierdie doelstelling te kon bereik is 'n literere oorsig van primere en sekondere bronne gedoen. Hierdie studie het bevind dat 'n gunstige beleidsomgewing DBB sal trek. Die skep van 'n beleggings-vriendelike omgewing wat goeie dividende beloof en in Iyn is met die internasionale "regulerende" raamwerk - die Wereldbank se International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA) en World Association of Investment Promotion Agencies (WAIPA) - se vereistes is van kardinale belang. Die Wereld Bank beskou Zambie se privatiseringsprogram as die model program vir Afrika. Suid-Afrika bevind haarself in 'n teenstrydige posisie. Aan die een kant is sy Afrika se voorste ekonomiese moondheid, en aan die anderkant is die programme om haar staatsondernemings te herstruktureer nog in hul kinderskoene. Privatiseringsprogramme in Suid Afrika het tot dusver baie stadig verloop. In 1997 het die regering en ander belanghebbende partye egter privatisering van die grond af probeer kry. Die konklusie is dat beide Suid-Afrika en Zambie daarin geslaag het om DBB te lok met hul privatiseringsprogramme. In beide lande was groot DBB die uitkoms van privatisering. DBB is belangrik om werk te skep, skuld vereffening, bemagtiging, en die oordrag van tegnologie en bestuursvaardighede. Hierdie lande volg egter verskillende benaderings tot die privatiseringsproses. Vanwee die stadige privatiseringsproses in Suid Afrika word die voorstel gemaak dat Suid-Afrika by Zambie leer in hul benadering en ervaring. Dit sal Suid-Afrika toelaat om al die voordele van privatisering te ontdek.

Assignment (MComm)--University of Stellenbosch, 2003. / ENGLISH ABSTRACT: The offshore investment industry has shown tremendous growth (R92,7 billion invested in offshore unit trusts and mutual funds) since the Minister of Finance took the bold step (1 July 1997) availing South African (SA) residents the opportunity to invest offshore. Currently, SA residents, subject to certain criteria, are allowed to invest R750 000 offshore. The primary objective of this assignment is to provide a general overview of offshore investments from a SA resident's perspective. Foreign investment policies as they relate to local residents are reviewed. Investment maxims, truisms and theory are introduced to provide a theoretical framework to accommodate future chapters. The question regarding why South Africans should invest offshore is answered by firstly identifying specific risks that are unique to this country, its people and businesses and, secondly, by looking at market risk. Conclusive empirical evidence states that offshore diversification reduces portfolio risks and enhances returns. Offshore investments, their related costs/fees, investment strategies as well as regulations that offshore investors must adhere to, are also discussed. The most important obstacles to investing offshore, namely the home bias phenomenon and currency or exchange rate risk, are placed in perspective. Important tax implications for investing offshore are also briefly mentioned. In the final chapter conclusions and recommendations are made. / AFRIKAANSE OPSOMMING: Die buitelandse beleggingsindustrie het merkwaardig gegroei (R92,7 biljoen is tans in buitelandse effektetrusts en onderlinge fondse belê) sedert die Minister van Finansies die dapper stap geneem het (1 Julie 1997) om Suid-Afrikaanse (SA) burgers die geleentheid te bied om in die buiteland te kan belê. Huidiglik kan SA burgers, onderworpe aan sekere kriteria, tot R750 000 in die buiteland belê. Die primêre doelwit van hierdie werkstuk is om 'n oorsig vanuit die SA burger se perspektief voor te lê. Buitelandse beleggingsbeleide, asook hoe hulle SA burgers beïnvloed is in oënskou geneem. Beleggingsgrondstellings, -waarhede en - teorieë, is bespreek om 'n teoretiese agtergrond te verskaf vir latere hoofstukke. Die vraag waarom Suid-Afrikaners in die buiteland moet belê, word beantwoord deur eerstens, spesifieke risiko's wat uniek is aan ons land, sy mense en besighede, te identifiseer, en tweedens, om na markrisiko's te kyk. Konklusiewe empiriese navorsing bewys dat buitelandse beleggings die risiko's van portefeuljes verlaag en opbrengste verhoog. Buitelandse beleggings, hul verwante koste/fooie, beleggingstrategieë, asook regulasies waaraan buitelandse beleggings moet voldoen, is bespreek. Die belangrikste struikelblokke vir belegging in die buiteland, bekend as die sogenaamde "home bias"-verskynsel en val uta- of wisselkoersrisiko's, is in perspektief gestel. Belangrike belastingsimplikasies vir buitelandse beleggings word ook kortliks genoem. In die finale hoofstuk word gevolgtrekkings en aanbevelings gemaak.

Thesis (MDF)--Stellenbosch University, 2015. / ENGLISH ABSTRACT: This study examined the causal relationship between foreign direct investment and domestic savings in Zambia. Data over the period 1970–2012 was extracted from the World Development Indicator and Global Economic Monitor Databases (2014). The study employed the Johansen cointegration approach to establish the long-standing relationship between domestic savings and foreign direct investment. In addition, the Granger causality test was also carried out to examine the causal relationship between foreign direct investment and gross domestic savings. The results suggest that although foreign direct investment inflow can lead to domestic savings growth in the short run, in the long run it would substitute domestic savings. This implies that the effect of the increased inflows of foreign direct investment experienced in the recent past may in the long run hurt domestic savings growth in Zambia. Policy makers should therefore improve the governance mechanism for the use and monitoring of foreign direct investment inflows in Zambia and promote diversification away from mining, the main economic activity that accounts for more than 60 percent of direct foreign investment in Zambia. / AFRIKAANSE OPSOMMING: Hierdie studie het ondersoek ingestel na die oorsaaklikheidsverwantskap tussen direkte buitelandse belegging en binnelandse besparing in Zambië. Data vir die tydperk 1970 tot 2012 is uit die Wêreldbank se databasisse World Development Indicators en Global Economic Monitor (2014) bekom. Die studie het die Johansen-benadering van ko-integrasie gevolg om die lank bestaande verwantskap tussen binnelandse besparing en direkte buitelandse belegging te bepaal. Daarbenewens is die Granger-oorsaaklikheidstoets uitgevoer om die oorsaaklikheidsverwantskap tussen direkte buitelandse belegging en bruto binnelandse besparing te ondersoek. Die resultate dui daarop dat hoewel die invloeiing van direkte buitelandse belegging binnelandse besparing op kort termyn ’n hupstoot sal gee, dit binnelandse besparing op lang termyn sal vervang. Dít impliseer dat die verhoogde direkte buitelandse belegging wat in die onlangse verlede ondervind is, op lang termyn ’n skadelike uitwerking op groei in binnelandse besparing in Zambië kan hê. Beleidsvormers behoort dus die beheermeganisme vir die aanwending en monitering van direkte buitelandse belegging in Zambië te verbeter en diversifikasie aan te moedig weg van mynbou, die vernaamste ekonomiese aktiwiteit in die land wat tans vir meer as 60% van alle direkte buitelandse belegging in Zambië sorg.

published_or_final_version / Management Studies / Master / Master of Business Administration

published_or_final_version / Business Administration / Master / Master of Business Administration

published_or_final_version / Business Administration / Master / Master of Business Administration

published_or_final_version / Business Administration / Master / Master of Business Administration

published_or_final_version / Business Administration / Master / Master of Business Administration

published_or_final_version / Business Administration / Master / Master of Business Administration