Thesis (MBA)--Stellenbosch University, 2007. / ENGLISH ABSTRACT: Africa's economic growth will not be found across the Atlantic or Indian oceans in international markets. Growth will not be achieved by simply giving away state assets in large privatisation transactions. Growth will also not come from giving away valuable concessions to scarce natural resources or handing out investment incentives to resource seeking foreign investors. Governments and policy makers need to accept that drivers to sustainable economic growth, lies much closer to home. Not in greater domestic savings by that average man in the street (who, in Africa's poor economies, often would need to forego a daily meal in order to save), but even closer. The policies for economic growth in Africa need to be focussed on flrst achieving production and allocative efficiencies at home. The real drivers to achieve growth are to be found in the primary responsibilities of the state: Political stability though good governance Stable macroeconomic environments Good working infrastructures Educated and trained labour forces Sizable market through regional cooperation (eg. SADe) African leaders and policy makers would be well served by a change in policy and attitude. Searching for solutions from within, rather than from abroad, will provide more sustainable growth. Requests for international debt relieve, complaints about (and excuses based on) the wrongs of the colonial past, demands for international trade concessions and efforts to secure international investment; may only result in a shift in the focus away from the basic problems at home. At the same time, a committed and disciplined focus on political and macro-economic stability; an efficient infrastructure, quality labour and bigger markets will naturally lead to substantial increases in international trade (while at the same time provide for better platform for negotiating international trade dispensation), will generate foreign investment and will reduce the importance of debt relieve. In addition, an stable environment combined with a reliable infrastructure and a quality labour force provides fertile grounds for local African entrepreneurs to excel and in time create opportunities for domestic savings and organic growth. This study does will not convey a popular message. No quick fixes exist and Africa will have to turn their focus inwards. Africa will have to stop blaming past rulers and stop pleading with current the world leaders. International political and economical leaders will not come to the rescue of Africa, however wrong the past has been. Africa will have to pick itself up by its own bootlaces. / AFRIKAANSE OPSOMMING: Ekonorniese groei in Afrika sal nie gevind word oorkant die Atrlantiese of Indiese oseane in intemasionale markte nie. Groei sal nie behaal word deur eenvoudig staatbates weg te gee in groot privatiserings transaksies nie. Groei sal ook nie bewerkstellig word deur waardevolle konsessies tot skaars natuurlike hulpbronne uit te deel of deur toegewings vir die aansporing van beleggings aan hulpbron soekende intemasionale beleggers te maak nie. Owerhede en beleidmakers moet aanvaar dat die drywers vir volhoubare ekonomiese groei veel nader aan die huis Ie. Nie in groter huishoudelike besparings deur die man in die straat nie (wie Afrika se arm ekonomie waarskynlik 'n maaltyd sal moet prysegee om te kan spaar.), maar selfs nader. Die beleid vir ekonomiese groei in Afrika moet gefokus wees daarop om eerstens produksie en allokasie effektiwiteit in die plaaslike ekonomie te behaal. Die drywers om dit reg te kry word gevind in die primere vernatwoordelikhede van die staat: -Politieke stabiliteit deur goeie regering -Stabiele makro-ekonomiese omgewing -Goeie werkende infrastruktuur -Opgevoede en opgeleide werkersmag -Redelike grootte markte deur samewerking op streeksvlak (bv. SAOG) Afrika leiers en beleidmakers sal baat by 'n verandering in beleid en houding. Die soeke na oplossing van binne eerder as in die buiteland, sal eerder volhoubare groei bied. Versoeke vir intemasionale skuldverligting, klagtes rakende (en verskonings gebaseer op) die foute van die koloniale verlede, eise vir intemasionale handelskonsessies en pogings om internasionale beleggings te lok; al hierdie aksies lei waarskynlik slegs daartoe dat die fokus en aandag wegskuif van die basiese probleme in die plaaslike ekonomie. Terselfdertyd sal 'n toegewyde en gedissiplineerde fokus op politieke en makroekonomiese stabiliteit, 'n effektiewe infrastruktuur, hoer kwaliteit arbeidsmag en groter markte verseker oor die lang termyn weI lei tot 'n wesentlike toename in intemasionale handel (terwyl dit ook gelyktydig 'n beter platform skep om te onderbandel vir 'n meer voordelige intemasionale handelsdispensasie), meer intemasionale beleggings en sal die belangrikheid van skuldverligting laat afneem. Verder sal 'n stabiele omgewing, gekombineerd met 'n betroubare infrastruktuur en 'n bekwame arbeidsmag 'n vrugbare omgewing daar stel vir plaaslike Afrika entrepreneurs om uit te styg en te presteer. Dit sal oor die lang termyn geleentheid skep vir huishoudelike besparing en organiese groei. Hierdie studie bring nie 'n gewilde boodskap nie. Geen kitsoplossings bestaan nie en Afrika sal hul fokus inwaarts moet verskif. Afrika sal moet ophou om die koloniale heersers van die verlede te blameer en moet ophou om by huidige internasionale leiers te pleit vir hulp en toegewings. Intemasionale politieke en ekonomiese leiers sal nie tot die redding van Afrika kom nie, hoe verkeerd die verlede ookal was. Afrika sal homself moet optel aan sy eie skoenveters.

Thesis submitted to the Wits Business School, Faculty of Commerce, Law, and Management, in fulfilment of the requirements for the Doctorate Degree in Entrepreneurship University of the Witwatersrand September 2016 / Many research findings have highlighted the importance of numerous sustainability factors needed for the growth and development of entrepreneurship. Sustainability factors such as finance, environmental stability, and good management practices determine the likely success of entrepreneurial activities. These factors are sometimes referred to as success factors and have been found to boost entrepreneurial activities as well as enhance the industrialisation process in many economies. Interestingly, entrepreneurship evolves across distinctive phases from conception to becoming a full-fledged enterprise, with sustainability factors determining the extent of success in each identifiable phase. This study was, therefore, designed to ascertain the most crucial sustainability factors necessary for navigating through entrepreneurship phases in two major emerging economies in Africa- Nigeria and South Africa. It was also designed to estimate the probability of successfully moving from one entrepreneurship phase to another, with a comparative analysis of the findings from these distinctly representative economies. Primary data was collected through administration of questionnaire to and in-depth interviews of selected respondents in the commercial capital cities of the two sample economies- Lagos and Johannesburg. STATA and Atlas Ti were used for the quantitative and qualitative analysis, respectively. The quantitative analysis was in two stages; stage one involved descriptive statistics while stage two involved inferential statistics. The results showed that relevant sustainability factors vary across entrepreneurship phases, and were peculiar to either economy. Further, some similarities exist in the sustainability factors relevant in identical phases in both economies. The results also confirmed that some factors are more crucial than others in some entrepreneurship phases. Furthermore, the probability estimates of moving from one entrepreneurship phase to another in both economies revealed the most volatile and least volatile phases in the entrepreneurship evolution. Based on the findings of this study, some policy suggestions are made, and areas for further research are identified. Financial and non-financial supports are also recommended for entrepreneurs in the volatile phases. Given the relative importance of the sustainability xii factors in each entrepreneurship phase and economy, the policy makers and other stakeholders would be aware of the core areas to channel necessary interventions. Many research findings have highlighted the importance of numerous sustainability factors needed for the growth and development of entrepreneurship. Sustainability factors such as finance, environmental stability, and good management practices determine the likely success of entrepreneurial activities. These factors are sometimes referred to as success factors and have been found to boost entrepreneurial activities as well as enhance the industrialisation process in many economies. Interestingly, entrepreneurship evolves across distinctive phases from conception to becoming a full-fledged enterprise, with sustainability factors determining the extent of success in each identifiable phase. This study was, therefore, designed to ascertain the most crucial sustainability factors necessary for navigating through entrepreneurship phases in two major emerging economies in Africa- Nigeria and South Africa. It was also designed to estimate the probability of successfully moving from one entrepreneurship phase to another, with a comparative analysis of the findings from these distinctly representative economies. Primary data was collected through administration of questionnaire to and in-depth interviews of selected respondents in the commercial capital cities of the two sample economies- Lagos and Johannesburg. STATA and Atlas Ti were used for the quantitative and qualitative analysis, respectively. The quantitative analysis was in two stages; stage one involved descriptive statistics while stage two involved inferential statistics. The results showed that relevant sustainability factors vary across entrepreneurship phases, and were peculiar to either economy. Further, some similarities exist in the sustainability factors relevant in identical phases in both economies. The results also confirmed that some factors are more crucial than others in some entrepreneurship phases. Furthermore, the probability estimates of moving from one entrepreneurship phase to another in both economies revealed the most volatile and least volatile phases in the entrepreneurship evolution. Based on the findings of this study, some policy suggestions are made, and areas for further research are identified. Financial and non-financial supports are also recommended for entrepreneurs in the volatile phases. Given the relative importance of the sustainability xii factors in each entrepreneurship phase and economy, the policy makers and other stakeholders would be aware of the core areas to channel necessary interventions. Many research findings have highlighted the importance of numerous sustainability factors needed for the growth and development of entrepreneurship. Sustainability factors such as finance, environmental stability, and good management practices determine the likely success of entrepreneurial activities. These factors are sometimes referred to as success factors and have been found to boost entrepreneurial activities as well as enhance the industrialisation process in many economies. Interestingly, entrepreneurship evolves across distinctive phases from conception to becoming a full-fledged enterprise, with sustainability factors determining the extent of success in each identifiable phase. This study was, therefore, designed to ascertain the most crucial sustainability factors necessary for navigating through entrepreneurship phases in two major emerging economies in Africa- Nigeria and South Africa. It was also designed to estimate the probability of successfully moving from one entrepreneurship phase to another, with a comparative analysis of the findings from these distinctly representative economies. Primary data was collected through administration of questionnaire to and in-depth interviews of selected respondents in the commercial capital cities of the two sample economies- Lagos and Johannesburg. STATA and Atlas Ti were used for the quantitative and qualitative analysis, respectively. The quantitative analysis was in two stages; stage one involved descriptive statistics while stage two involved inferential statistics. The results showed that relevant sustainability factors vary across entrepreneurship phases, and were peculiar to either economy. Further, some similarities exist in the sustainability factors relevant in identical phases in both economies. The results also confirmed that some factors are more crucial than others in some entrepreneurship phases. Furthermore, the probability estimates of moving from one entrepreneurship phase to another in both economies revealed the most volatile and least volatile phases in the entrepreneurship evolution. Based on the findings of this study, some policy suggestions are made, and areas for further research are identified. Financial and non-financial supports are also recommended for entrepreneurs in the volatile phases. Given the relative importance of the sustainability xii factors in each entrepreneurship phase and economy, the policy makers and other stakeholders would be aware of the core areas to channel necessary interventions. / GR2018

Thesis (MDF)--Stellenbosch University, 2011. / This study was undertaken to find out how the SME sector in Nigeria has developed over time and to what extent it has performed its critical role of driving the country’s industrial transformation and development as it has done in other developed countries. This study has explained in detail, the development of SMEs in Nigeria and identified the economic potential of SMEs, their major problems, challenges and constraints, which have hindered them from playing the vital role in the Nigerian economic growth and development as well as made appropriate recommendations for redressing, reducing and/or eliminating them so that they could occupy their pride of place in the Nigerian economy. It also considered the various programmes implemented by various governments, to support and promote SMEs’ growth and development as well as the roles played by the government and the financial institutions towards promoting the development and growth of SMEs in Nigeria. The study employed primary date via questionnaires which were administered to the sampled financial institutions and SMEs’ operators, and the emanating data was analysed using simple percentages, charts and mean ranking. The Chi-square analytical technique was employed and the empirical analysis indicates that there has not been any significant contribution of government support towards developing SMEs, and also that there is a relationship between the sizes of SMEs and their modes of financing. The study determined, among others, that with the exclusion of lack of finance, the major constraints or challenges of SMEs ranked in descending order are inadequate managerial/board expertise, poor infrastructural facilities, inconsistencies in government policies, lack of financial records, multiple taxes and levies, etc. It also determined that lack of finance is a function of multiple problems and that the major sources of credit available for the financing SMEs in Nigeria are personal savings, family/friend support and commercial banks. The study recommended, among others, SME partnership and equity participation by financiers, loan guarantees, interest rate concession, fiscal incentives, and adequate training for SMEs as the factors that will drive the rapid transformations and development of the SME sector in Nigeria.