This thesis analyses the influence of monetary policy on the general price level in Zimbabwe during periods of hyperinflation and dollarisation. The first part of the analysis covers the period January 2006 to July 2008 when the country experienced high inflation and ultimately hyperinflation. The second part covers the period 2009 to 2012, when the country adopted the multi-currency system and became fully dollarised. In terms of motivation, the study firstly sought to empirically examine the factors that led to hyperinflation in Zimbabwe, paying particular attention to the influence of monetary policy. Secondly, the thesis sought to determine the major factors that influenced price formation in a dollarised Zimbabwean economy; a completely new macro-economic environment. A significant development in this new macro-economic environment was the loss of monetary policy autonomy of the central bank, which also contributed to the relevance of the study. This thesis makes two contributions. The first contribution is the finding that hyperinflation in Zimbabwe was caused by expansionary monetary policy as a result of the activities of an unrestrained and unaccountable central bank. The second contribution was the empirical finding that in the fully dollarised economy inflation is largely determined by external factors. This implies that the domestic economy has no control over domestic inflation developments and as such, Zimbabwean authorities should formulate appropriate economic policies to respond to the impact of external shocks on domestic price formation when the need arises. The role of monetary policy in Zimbabwe’s hyperinflation episode is assessed using the Autoregressive Distributed Lag (ARDL) and the Error Correction Model (ECM) approaches with monthly data from January 2006 to July 2008. The impact of monetary policy on hyperinflation is captured by the coefficient of broad money supply and the interest rate. Results indicate that hyperinflation was caused by expansionary monetary policy, the exchange rate premium and inflation expectations for both the short and long term. Zimbabwe’s hyperinflation episode which peaked during the period 2007 to 2008 brings to the fore the importance of ensuring that the central bank is independent in executing its mandate of influencing the monetary policy process in a manner that ensures price stability. The ARDL and ECM approaches are also used to explore the dynamics of inflation in the dollarised Zimbabwean economy, with monthly data from January 2009 to December 2012. The main drivers of inflation under the multi-currency system were found to be the United States of America dollar/South African rand exchange rate, international oil prices, inflation expectations and the South African inflation rate. The findings contrast with the hyperinflationary era, where empirical studies have cited excessive money supply growth as the major driver of inflation dynamics in Zimbabwe. The results also suggest a higher exchange rate pass-through to domestic prices, consistent with empirical literature which postulates that inflation in dollarised economies is largely explained by movements in the exchange rate of major trading partners and international prices. The policy implication from the analysis is the need for policy makers to aggressively promote policies that ensure increased productivity of the economy. An improvement in productivity would influence the relative prices of tradable and non-tradable goods and ultimately the general price level in the economy. The study also quantified the independence of the Reserve Bank of Zimbabwe (RBZ) using the Mathew (2006), “new index for institutional quality” and the results showed that the RBZ is not an independent central bank. The central bank is found to have a low index of central bank independence (CBI), against a high level of inflation. While this relationship does not imply causality it can be inferred that the lack of independence of the RBZ could have influenced inflation dynamics in Zimbabwe. Only a subordinated central bank can be compelled to engage in inflationary deficit financing and also fund quasi-fiscal activities. The provisions of the RBZ Act [Chapter 22:15] in their current form make the central bank an appendage of the Ministry of Finance and Economic Development and this has, to a large extent, resulted in conflict between the political goals of government and the central bank’s primary objective of achieving price stability. In the event that Zimbabwe reintroduces its own currency in future, the achievement of the primary goal of price stability by the central bank will only be realised if the apex bank is given more autonomy.

The process of trade liberalisation and market-oriented economic reforms was initiated in many developing countries in early 1980s; and it intensified in 1990s. In 1991, Zimbabwe was assisted by the IMF to implement trade-policy reforms under Economic Structural Adjustment Programme (ESAP). After adopting ESAP, the country witnessed soaring balance-of-payment problems, contraction of output, unemployment and the loss of government revenue. A number of factors, which were at play resulted in dismal economic performance under ESAP. These factors still exist, in addition to inter alia weak economic policies, structural rigidities and weak institutions. However, notwithstanding this controversy, the country continuously opened its economy under Common Market for Eastern and Southern Africa (COMESA), Southern Africa Development Community (SADC), World Trade Organisation (WTO), Economic Partnership Agreements (EPAs) and bilateral agreements. It is against this background that this study is undertaken, in order to evaluate the impact of different trade-policy regimes on trade, welfare and revenue in Zimbabwe. This study used two models: World Integrated Trade Solutions/Software for Market Analysis and Restrictions on Trade (WITS/SMART) and Tariff Reform Impact Simulation Tool (TRIST). The WITS/SMART model was used because of its ability in analysing the tariff effect of a single market on disaggregated product lines. The model also has the capability to analyse the effects of trade-policy reforms in the presence of imperfect substitutes. In order to complement the WITS/SMART model, a TRIST model was also used. The use of the TRIST model enabled the study to evaluate the impact of trade reforms on VAT, excise duties, collected and statutory revenue – which the WITS/SMART model had overlooked. Using the WITS/SMART model, the study considered seven trade-liberalisation frameworks for Zimbabwe: full implementation of the SADC free trade agreement (FTA), SADC common external tariff (CET), COMESA CET, COMESA FTA, EPAs, BFTAs and WTO FTA.

Lolu cwaningo luhlose ukuhlola izingqinamba zezenhlalo nezomnotho abesifazane basemakhaya abaseZimbabwe ababhekana nazo. Abesifazane basemakhaya bakhishwa inyumbazane emphakathini futhi bakhishwa inyumbazane ezinhlelweni zokuthuthukisa umphakathi, ngenxa yalokho izindima zabo zicekelwa phansi namazwi abo ezintweni ezibathintayo ayenziwa buthaka. Izici ezifana nesomiso esiqhubekayo, ukungabi bikho kwezinsizakusebenza, isiko nesimo sezulu esingesihle seziqhubekile nokubeka isikhundla sabesifazane basemakhaya engcupheni. Ukuziphilisa ngokulima kube ngomunye wemisebenzi emikhulu eyenziwa ngabesifazane basemakhaya ekukhiqizweni kokudla emakhaya, kepha lokhu bekungalethi imiphumela elindelwe kakhulu ngenxa yokuntuleka komanyolo nemishini yokukhuthaza isivuno esingcono. Ucwaningo lusebenzise indlela ephathelene nesimo futhi kwaqoqwa nemininingwane ngezingxoxo zocingo ngokuya ngamaphrothokholi woKhuvethe Alert Level 3. Lolu cwaningo luveza izinselelo eziningi zezenhlalo nezomnotho abesifazane besemakhaya eZimbabwe ababhekana nazo. Imiphumela yalolu cwaningo ikhombisa ukuthi abesifazane basakhishwa inyumbazane emikhakheni eminingi yemisebenzi yokuthuthukisa umphakathi ngenxa yezinqubomgomo ezingazinaki izidingo zabo. Ucwaningo lukhombe ukuthi abesifazane basemakhaya bahlala besengozini futhi bavuleleke kumazinga aphezulu obuphofu njengoba behluleka ukuthola ukwesekwa okudingeka kakhulu kubayeni babo, abaholi bomphakathi kanye nohulumeni kazwelonke ngezinqubomgomo zabo ezibahlukanisile. Ngendlela yokukhishwa ngaphandle kwezenhlalo, amalungelo abesifazane aphuliwe futhi isithunzi sabo sonakalisiwe futhi sancishiswa, ngoba nje benganikwanga ukwesekwa okudingekayo ukuze babandakanyeke ekuthathweni kwezinqumo kwezepolitiki. Amagama asemqoka afana nokuba sengozini, ubuphofu ngokuphelele nokuvalelwa ngaphandle emphakathini kuchazwa njengezinye zezinto ezibe nomthelela ebuphofini besifazane basemakhaya. Izinhlelo zomphakathi iv ziqhubekile nokubeka abesifazane enhluphekweni futhi bahlala njengeqembu elizimele elihluleka ukubamba iqhaza ngokugcwele futhi lisizakale ezikhungweni zomphakathi. Okutholakele ocwaningweni kunikeza ezinye izindlela ezihlukile njengezindlela zokubhekana nabesifazane basemakhaya okudingeka bazilandele ukuze benze kangcono ngokwesimo sabo sobumpofu. Izisombululo ezahlukahlukene ezingaba khona njengoba amasu okubhekana nazo nezinhlelo zokungenelela zichaziwe ocwaningweni. Ukuze ekugcineni ngikwazi ukusho ukuthi igebe lobuphofu kubantu besifazane selivaliwe, kuzodingeka izinqubomgomo ezinamandla ezingekho lapho ngenjongo yokuhlobisa kuphela kepha ezifuna ukubhekana nokwenza ngcono amazinga okungalingani osekuyisikhathi eside kuthinta abesifazane basemakhaya. Lezi zinqubomgomo kuzofanele zisetshenziswe ngendlela efanele ukubhekana nezidingo nezinselelo zabesifazane basemakhaya. / Lolu cwaningo luhlose ukuhlola izingqinamba zezenhlalo nezomnotho abesifazane basemakhaya abaseZimbabwe ababhekana nazo. Abesifazane basemakhaya bakhishwa inyumbazane emphakathini futhi bakhishwa inyumbazane ezinhlelweni zokuthuthukisa umphakathi, ngenxa yalokho izindima zabo zicekelwa phansi namazwi abo ezintweni ezibathintayo ayenziwa buthaka. Izici ezifana nesomiso esiqhubekayo, ukungabi bikho kwezinsizakusebenza, isiko nesimo sezulu esingesihle seziqhubekile nokubeka isikhundla sabesifazane basemakhaya engcupheni. Ukuziphilisa ngokulima kube ngomunye wemisebenzi emikhulu eyenziwa ngabesifazane basemakhaya ekukhiqizweni kokudla emakhaya, kepha lokhu bekungalethi imiphumela elindelwe kakhulu ngenxa yokuntuleka komanyolo nemishini yokukhuthaza isivuno esingcono. Ucwaningo lusebenzise indlela ephathelene nesimo futhi kwaqoqwa nemininingwane ngezingxoxo zocingo ngokuya ngamaphrothokholi woKhuvethe Alert Level 3. Lolu cwaningo luveza izinselelo eziningi zezenhlalo nezomnotho abesifazane besemakhaya eZimbabwe ababhekana nazo. Imiphumela yalolu cwaningo ikhombisa ukuthi abesifazane basakhishwa inyumbazane emikhakheni eminingi yemisebenzi yokuthuthukisa umphakathi ngenxa yezinqubomgomo ezingazinaki izidingo zabo. Ucwaningo lukhombe ukuthi abesifazane basemakhaya bahlala besengozini futhi bavuleleke kumazinga aphezulu obuphofu njengoba behluleka ukuthola ukwesekwa okudingeka kakhulu kubayeni babo, abaholi bomphakathi kanye nohulumeni kazwelonke ngezinqubomgomo zabo ezibahlukanisile. Ngendlela yokukhishwa ngaphandle kwezenhlalo, amalungelo abesifazane aphuliwe futhi isithunzi sabo sonakalisiwe futhi sancishiswa, ngoba nje benganikwanga ukwesekwa okudingekayo ukuze babandakanyeke ekuthathweni kwezinqumo kwezepolitiki. Amagama asemqoka afana nokuba sengozini, ubuphofu ngokuphelele nokuvalelwa ngaphandle emphakathini kuchazwa njengezinye zezinto ezibe nomthelela ebuphofini besifazane basemakhaya. Izinhlelo zomphakathi iv ziqhubekile nokubeka abesifazane enhluphekweni futhi bahlala njengeqembu elizimele elihluleka ukubamba iqhaza ngokugcwele futhi lisizakale ezikhungweni zomphakathi. Okutholakele ocwaningweni kunikeza ezinye izindlela ezihlukile njengezindlela zokubhekana nabesifazane basemakhaya okudingeka bazilandele ukuze benze kangcono ngokwesimo sabo sobumpofu. Izisombululo ezahlukahlukene ezingaba khona njengoba amasu okubhekana nazo nezinhlelo zokungenelela zichaziwe ocwaningweni. Ukuze ekugcineni ngikwazi ukusho ukuthi igebe lobuphofu kubantu besifazane selivaliwe, kuzodingeka izinqubomgomo ezinamandla ezingekho lapho ngenjongo yokuhlobisa kuphela kepha ezifuna ukubhekana nokwenza ngcono amazinga okungalingani osekuyisikhathi eside kuthinta abesifazane basemakhaya. Lezi zinqubomgomo kuzofanele zisetshenziswe ngendlela efanele ukubhekana nezidingo nezinselelo zabesifazane basemakhaya / Lolu cwaningo luhlose ukuhlola izingqinamba zezenhlalo nezomnotho abesifazane basemakhaya abaseZimbabwe ababhekana nazo. Abesifazane basemakhaya bakhishwa inyumbazane emphakathini futhi bakhishwa inyumbazane ezinhlelweni zokuthuthukisa umphakathi, ngenxa yalokho izindima zabo zicekelwa phansi namazwi abo ezintweni ezibathintayo ayenziwa buthaka. Izici ezifana nesomiso esiqhubekayo, ukungabi bikho kwezinsizakusebenza, isiko nesimo sezulu esingesihle seziqhubekile nokubeka isikhundla sabesifazane basemakhaya engcupheni. Ukuziphilisa ngokulima kube ngomunye wemisebenzi emikhulu eyenziwa ngabesifazane basemakhaya ekukhiqizweni kokudla emakhaya, kepha lokhu bekungalethi imiphumela elindelwe kakhulu ngenxa yokuntuleka komanyolo nemishini yokukhuthaza isivuno esingcono. Ucwaningo lusebenzise indlela ephathelene nesimo futhi kwaqoqwa nemininingwane ngezingxoxo zocingo ngokuya ngamaphrothokholi woKhuvethe Alert Level 3. Lolu cwaningo luveza izinselelo eziningi zezenhlalo nezomnotho abesifazane besemakhaya eZimbabwe ababhekana nazo. Imiphumela yalolu cwaningo ikhombisa ukuthi abesifazane basakhishwa inyumbazane emikhakheni eminingi yemisebenzi yokuthuthukisa umphakathi ngenxa yezinqubomgomo ezingazinaki izidingo zabo. Ucwaningo lukhombe ukuthi abesifazane basemakhaya bahlala besengozini futhi bavuleleke kumazinga aphezulu obuphofu njengoba behluleka ukuthola ukwesekwa okudingeka kakhulu kubayeni babo, abaholi bomphakathi kanye nohulumeni kazwelonke ngezinqubomgomo zabo ezibahlukanisile. Ngendlela yokukhishwa ngaphandle kwezenhlalo, amalungelo abesifazane aphuliwe futhi isithunzi sabo sonakalisiwe futhi sancishiswa, ngoba nje benganikwanga ukwesekwa okudingekayo ukuze babandakanyeke ekuthathweni kwezinqumo kwezepolitiki. Amagama asemqoka afana nokuba sengozini, ubuphofu ngokuphelele nokuvalelwa ngaphandle emphakathini kuchazwa njengezinye zezinto ezibe nomthelela ebuphofini besifazane basemakhaya. Izinhlelo zomphakathi iv ziqhubekile nokubeka abesifazane enhluphekweni futhi bahlala njengeqembu elizimele elihluleka ukubamba iqhaza ngokugcwele futhi lisizakale ezikhungweni zomphakathi. Okutholakele ocwaningweni kunikeza ezinye izindlela ezihlukile njengezindlela zokubhekana nabesifazane basemakhaya okudingeka bazilandele ukuze benze kangcono ngokwesimo sabo sobumpofu. Izisombululo ezahlukahlukene ezingaba khona njengoba amasu okubhekana nazo nezinhlelo zokungenelela zichaziwe ocwaningweni. Ukuze ekugcineni ngikwazi ukusho ukuthi igebe lobuphofu kubantu besifazane selivaliwe, kuzodingeka izinqubomgomo ezinamandla ezingekho lapho ngenjongo yokuhlobisa kuphela kepha ezifuna ukubhekana nokwenza ngcono amazinga okungalingani osekuyisikhathi eside kuthinta abesifazane basemakhaya. Lezi zinqubomgomo kuzofanele zisetshenziswe ngendlela efanele ukubhekana nezidingo nezinselelo zabesifazane basemakhaya / Ngudo i ṱoḓa u wanulusa khaedu dza ikonomi ya matshilisano dzine vhafumakadzi vha vhuponi ha mahayani kha ḽa Zimbabwe vha livhana nadzo. Vhafumakadzi vha vhuponi ha mahayani a vho ngo katelwa kha matshilisano na u siwa nnḓa kha mbekanyamushumo dza mveledziso ya tshitshavha, nga nṱhani ha zwenezwo mishumo yavho i dzhielwa fhasi na musi vha tshi amba zwine zwa vha kwama zwi thudzelwa kule. Nyimele dzi ngaho sa gomelelo ḽi sa gumi, u shayea ha zwiko, mvelele na mihumbulo ya poḽotiki i sa takadzi zwo ḓi bvela phanḓa na u vhea vhafumakadzi vha vhuponi ha mahayani kha vhuimo ha khombo. Vhuḓilimeli ho vha muṅwe wa mishumo mihulwane ine vhafumakadzi vha vhuponi ha mahayani vha ita kha mveledzazwiḽiwa muṱani, fhedzi hezwi a zwo ngo bveledza mvelelo dze dza vha dzo lavhelelwa zwihulu zwo itiswa nga nṱhani ha u shaya zwishumiswa na manyoro u bveledza khaṋo dza khwine. Ṱhoḓisiso yo shumisa kuitele kwa ngona ya khwaḽithethivi ngeno data yo kuvhanganywa nga kha inthaviwu dza luṱingo u ya nga matshimbidzele a u Dzhiela nṱha Vhuimo ha 3 ha Covid-19. Ngudo yo wanulusa khaedu dzo vhalaho dza ikonomi ya matshilisano dzine vhafumakadzi vha vhuponi ha mahayani kha ḽa Zimbabwe vha livhana nadzo. Mvelelo dza ngudo dzo sumbedzisa uri vhafumakadzi vha kha ḓivha vho siwa nnḓa kha masia manzhi a mveledziso dza tshitshavha nga nṱhani ha mbekanyamaitele dzine dza sa dzhiele nṱha ṱhoḓea dzavho. Ngudo yo topola zwauri vhafumakadzi vha vhuponi ha mahayani vha dzula vhe khomboni na u ṱanea kha vhuimo ha vhushai vhuhulwane musi vha tshi kundelwa u wana thikhedzo khulwanesa ine vha i ṱoḓa u bva kha vhafarisi vhavho, vharangaphanḓa vha zwitshavha na muvhuso wa lushaka nga kha mbekanyamaitele dzawo dze dza vha khethelula. Nga kha u siwa nnḓa kha matshilisano, pfanelo dza vhafumakadzi dzo pfukekanya ngeno tshirunzi vi tshavho tsho tsitsela fhasi na u hoṱefhadzwa, ngauri a vho ngo ṋetshedzwa thikhedzo yo teaho u dzhenelela kha tsheo dza zwa poḽotiki. Maipfi a ndeme a ngaho sa u vha khomboni, vhushai ha vhukuma na u sa katelwa kha matshilisano zwo ṱalutshedzwa sa dziṅwe dza nyimele dzo shelaho mulenzhe kha vhushai ha vhafumakadzi vha vhuponi ha mahayani. Sisiṱeme ya matshilisano yo bvela phanḓa na u ṱana vhushai ha vhafumakadzi na u dzula vhe tshigwada tsho khethululwaho tsho kundelwaho u dzhenelela tshoṱhe na u vhuelwa kha zwiimiswa zwa matshilisano. Mawanwa a ngudo o ṋetshedza nḓila dza u ṱhaḓula dzo fhambanaho sa zwiṱirathedzhi zwa u tshila zwine vhafumakadzi vha vhuponi ha mahayani vha ṱoḓa u zwi tevhela u itela u ita zwa khwine kha vhuimo havho ha vhushai. Khonadzeo dzo fhambanaho dza thasululo sa zwiṱirathedzhi zwa u tshila na mbekanyamushumo dza u dzhenelela dzo bviselwa khagala kha ngudo. U swikela hune ra kona u amba uri gake ḽa vhushai kha vhushai ḽo ṱumanywa, mbekanyamaitele dzo khwaṱhaho dzi ḓo ṱoḓiwa dzine dza sa vhe henefho fhedzi u itela u khavhisa fhedzi u itela u amba na u khwinisa vhuimo ha u sa lingana he ha kwama lwa tshifhinga tshilapfu vhafumakadzi vha vhuponi ha mahayani / Ngudo i ṱoḓa u wanulusa khaedu dza ikonomi ya matshilisano dzine vhafumakadzi vha vhuponi ha mahayani kha ḽa Zimbabwe vha livhana nadzo. Vhafumakadzi vha vhuponi ha mahayani a vho ngo katelwa kha matshilisano na u siwa nnḓa kha mbekanyamushumo dza mveledziso ya tshitshavha, nga nṱhani ha zwenezwo mishumo yavho i dzhielwa fhasi na musi vha tshi amba zwine zwa vha kwama zwi thudzelwa kule. Nyimele dzi ngaho sa gomelelo ḽi sa gumi, u shayea ha zwiko, mvelele na mihumbulo ya poḽotiki i sa takadzi zwo ḓi bvela phanḓa na u vhea vhafumakadzi vha vhuponi ha mahayani kha vhuimo ha khombo. Vhuḓilimeli ho vha muṅwe wa mishumo mihulwane ine vhafumakadzi vha vhuponi ha mahayani vha ita kha mveledzazwiḽiwa muṱani, fhedzi hezwi a zwo ngo bveledza mvelelo dze dza vha dzo lavhelelwa zwihulu zwo itiswa nga nṱhani ha u shaya zwishumiswa na manyoro u bveledza khaṋo dza khwine. Ṱhoḓisiso yo shumisa kuitele kwa ngona ya khwaḽithethivi ngeno data yo kuvhanganywa nga kha inthaviwu dza luṱingo u ya nga matshimbidzele a u Dzhiela nṱha Vhuimo ha 3 ha Covid-19. Ngudo yo wanulusa khaedu dzo vhalaho dza ikonomi ya matshilisano dzine vhafumakadzi vha vhuponi ha mahayani kha ḽa Zimbabwe vha livhana nadzo. Mvelelo dza ngudo dzo sumbedzisa uri vhafumakadzi vha kha ḓivha vho siwa nnḓa kha masia manzhi a mveledziso dza tshitshavha nga nṱhani ha mbekanyamaitele dzine dza sa dzhiele nṱha ṱhoḓea dzavho. Ngudo yo topola zwauri vhafumakadzi vha vhuponi ha mahayani vha dzula vhe khomboni na u ṱanea kha vhuimo ha vhushai vhuhulwane musi vha tshi kundelwa u wana thikhedzo khulwanesa ine vha i ṱoḓa u bva kha vhafarisi vhavho, vharangaphanḓa vha zwitshavha na muvhuso wa lushaka nga kha mbekanyamaitele dzawo dze dza vha khethelula. Nga kha u siwa nnḓa kha matshilisano, pfanelo dza vhafumakadzi dzo pfukekanya ngeno tshirunzi vi tshavho tsho tsitsela fhasi na u hoṱefhadzwa, ngauri a vho ngo ṋetshedzwa thikhedzo yo teaho u dzhenelela kha tsheo dza zwa poḽotiki. Maipfi a ndeme a ngaho sa u vha khomboni, vhushai ha vhukuma na u sa katelwa kha matshilisano zwo ṱalutshedzwa sa dziṅwe dza nyimele dzo shelaho mulenzhe kha vhushai ha vhafumakadzi vha vhuponi ha mahayani. Sisiṱeme ya matshilisano yo bvela phanḓa na u ṱana vhushai ha vhafumakadzi na u dzula vhe tshigwada tsho khethululwaho tsho kundelwaho u dzhenelela tshoṱhe na u vhuelwa kha zwiimiswa zwa matshilisano. Mawanwa a ngudo o ṋetshedza nḓila dza u ṱhaḓula dzo fhambanaho sa zwiṱirathedzhi zwa u tshila zwine vhafumakadzi vha vhuponi ha mahayani vha ṱoḓa u zwi tevhela u itela u ita zwa khwine kha vhuimo havho ha vhushai. Khonadzeo dzo fhambanaho dza thasululo sa zwiṱirathedzhi zwa u tshila na mbekanyamushumo dza u dzhenelela dzo bviselwa khagala kha ngudo. U swikela hune ra kona u amba uri gake ḽa vhushai kha vhushai ḽo ṱumanywa, mbekanyamaitele dzo khwaṱhaho dzi ḓo ṱoḓiwa dzine dza sa vhe henefho fhedzi u itela u khavhisa fhedzi u itela u amba na u khwinisa vhuimo ha u sa lingana he ha kwama lwa tshifhinga tshilapfu vhafumakadzi vha vhuponi ha mahayani / Development Studies / M.A. (Development Studies)

Thesis (MTech (Business Administration))--Cape Peninsula University of Technology, 2018. / The purpose of this study was to determine the influence of internal controls on sustainability of small and medium enterprises (SMEs) in Harare’s Central Business District (CBD), Zimbabwe. The question at the core of this research is: to what extent do internal controls influence the sustainability of SMEs in Harare’s Central Business District, Zimbabwe. SMEs are perceived to be of paramount importance for the economic affluence of countries the world over, mainly because of their pronounced benefaction and contribution to livelihoods of the dwellers of a country and the gross domestic product (GDP). SMEs have been credited for playing a leading role when it comes to innovation, significant export revenue, custom-suited goods, services provision to society, employment opportunities, and social contribution. This can also be attributed to SMEs operating in Zimbabwe despite the volatility of the Zimbabwean economy. The Zimbabwean business environment, in general, is constantly changing. The changes can be attributed to an eruptive economic environment and unstable political atmosphere. The resultant effect is the departure of larger businesses and investors from the country. Generally, this leaves a great opportunity for SMEs not to be subjected to stiff competition from larger businesses. SMEs are indeed enjoying this space, braving the conditions to start up; however, their operations are short-lived. For SMEs to brave the fortuity of such an unpredictable environment, a system of internal controls must be in place. Research has placed emphasis on internal controls and sustainability of large organisations, while little to no attention has been given to SMEs. The little research on internal controls and sustainability in the context of SMEs has mostly been done in developed countries. Despite this, internal controls and sustainability have not been extensively implemented in the context of developing countries. The need to determine the influence of internal controls on sustainability of SMEs underlines this research. This report adopted a positivist philosophy that entailed utilizing a survey questionnaire to collect data from 150 SMEs operating in Harare’s CBD, Zimbabwe. The sample was further split into Active SMEs and Dormant SMEs (the control group). Data were analysed through Statistical Package for the Social Sciences (SPSS) Version 25 to spawn statistical and descriptive results. To determine reliability of data, Cronbach’s alpha value was employed. The results indicate SMEs are not implementing controls as they ought to and those SMEs that have controls in place do not ensure that they are adhered to effectively and efficiently in order for them to achieve their desired objectives.

Land reforms are back on the development agenda. Different types of land reforms have been adopted globally in recent years, but by far the most controversial and most radical has been the fast track land reform pursued by the Government of Zimbabwe from 2000. There is general scholarly agreement that the fast track process has been accompanied by various socio-economic and political challenges, including an increase in levels of food insecurity. This thesis examines fast track reform in specific relation to the livelihoods of smallholder households and household food security amongst land beneficiaries. It argues that the problem of food insecurity in Zimbabwe is a complex social, political and economic issue, which cannot be simplistically reduced to the failures of fast track. Understanding household food insecurity post-2000 needs to go beyond the notion that the nation‟s food security hinges on overall levels of production alone. In particular, livelihoods and food security need to be conceptualised at community and household levels. Therefore, while addressing the broad macro-level analysis and discourse around the process of fast track, the study also adopts a micro-level analysis to look at the varied impact of fast track on the actual beneficiaries. The research focuses on small-scale beneficiaries in the Goromonzi District of Zimbabwe and, through the use of the sustainable livelihoods framework, looks at how their local contexts have been influenced by the wider socio-economic and political processes, and how beneficiaries have sought ways of coping with the challenges they face.

This study examines issues surrounding efficiency in the Zimbabwean health sector with specific emphasis on for-profit hospitals in order to find out whether they are significantly more efficient than non-profit hospitals. The study attempts to explore the significance of profit incentives on efficiency. This study uses the Data Envelopment Analysis (DEA) methodology to examine hospital efficiency scores for the 100 hospitals in the sample classified as for-profit, mission and public. Outputs of the study include inpatient days and outpatient visits. The number of beds, doctors and nurses were used to capture hospital inputs. The findings indicated that there was a marked deviation of efficiency scores from the best practice frontier with for-profit hospitals having the highest mean PTE of 71.1 percent. The mean PTE scores for mission and public hospitals were 64.8 percent and 62.6 percent respectively. About 85 percent, 83 percent and 91 percent of the for-profit, mission and public hospitals were found to be operating below their average PTE. More than half of the hospitals are being run inefficiently. Of more importance to this study is the fact that the hypothesis of for-profit hospital superiority was accepted implying that for profit hospitals are significantly more efficient than the non-profit category. The study indicated that the amount of inputs being used could be decreased substantially without decreasing the quantity of outputs achieved. In each of the hospitals included in the study, the total input reductions needed to make inefficient hospitals efficient are more than 50 percent. These input savings could go a long way in achieving other health concerns without mobilizing additional resources in the sector

PHDRDV / Institute for Rural Development

Thesis (MPhil)--Stellenbosch University, 2004. / ENGLISH ABSTRACT: Land has been a revolutionary metaphor for wealth and power in the world. Ideally, land reform in Africa should contribute to social and economic progress and ultimately result in social equity, as well as increased agricultural productivity. This study is devoted to the history of the land ownership in Southern Africa, as well as the meaning and explanation of land reform programmes after the transition to democracy. Moreover, it is dedicated to familiarising the reader with the various meanings and issues concerning land reform, particularly in South Africa and Zimbabwe. The outcome of the study is to promote further discussion on the need and about the revival of land reform programmes in the region of Southern Africa. In this study, South Africa and Zimbabwe are discussed comparatively with regards to three main areas of land reform: restitution, redistribution and tenure reform. The goal of this study is to gauge the possibility of South Africa following in the footsteps of Zimbabwe in terms of land invasions supported by the government. Zimbabwe faces the painful reality that its political revolutions have only brought them halfway to true independence. The objective for Zimbabwe is to establish a functional socialist economy where decision-making would be under political control so as to bring about the drastic redistribution of wealth from whites to blacks. The fulfilment of the rule of law must become the first priority of the Zimbabwean government. If the government continues to belittle the rule of law, corrupt decisions benefiting only those in support of the government, will continually be made. The importance of land in Zimbabwe did not so much arise from the social and economic inequalities, but rather the inability to access land, accompanied by a growing overpopulation, landlessness, land deterioration and escalating poverty in the black areas. This was further paralleled with severe under-utilisation of land in the white farming areas. South Africa, on the other hand, did make space at an earlier stage of transition in their constitution, for organised and methodical land reform to occur. Unfortunately, this process has taken much slower than first predicted, which has led to unrest among the landless, and those who have made claims for the land. South Africa very recently made some decisions to speed up the land reform process through expropriation if negotiations fail. With the Zimbabwean situation, the issue may not so much be about land in itself, but may reflect the need for employment, especially regarding infrastructure and investment in industrialisation within the rural areas. This study concludes that South Africa, although showing many similar signs of a downward spiral, will not follow the route which Zimbabwe has taken. It would appear that the government of South Africa would not allow land invasions by the landless, organised under the banner the 'Landless Peoples Movement (LPM), as was seen in Zimbabwe with the war veterans. The reason for this is that the South African government has made continuous statements that land invasions will not be tolerated in South Africa, and that they will abide by the legislation set out, when it comes to land reform and restitution. The government has the power to enforce the rule of law if land invasions do start to occur. Although the LPM have a similar manifesto and goal as to the war veterans in Zimbabwe, they seem a lot less militant and ready to work with the government and the people to ensure the best for South Africa's land reform process. This study thus looks at land reform issues that face South Africa and Zimbabwe, and fleshes out ideas as to creating a regional procedure for the best method of land reform for implementation by the South African Development Community. / AFRIKAANSE OPSOMMING: Gesien in die lig dat grond die revolusionêre metafoor van rykdom en mag in die wêreld is, sal dit ideaal wees as grondhervorming tot sosiale en ekonomiese bevordering in Afrika kan bydra en uiteindelik kan lei tot sosiale gelykheid en toename in produktiwiteit in die Landbou-sektor. Hierdie studie is toegewy aan die geskiedenis van grond-eienaarskap in Suider- Afrika, sowel as die betekenis en verduideliking van grondhervormingsprogramme na afloop van die transisie na 'n demokrasie stelsel. Die studie fokus ook daarop om die leser meer in te lig oor die verskeie menings en uitgangspunte rakende grondhervorming in die algemeen, maar meer speisfiek in Suid Afrika en Zimbabwe. Die doel van die studie is om verdere besprekings oor die behoefte en die heroplewing van grondhervormingsprogramme in Suider-Afrika. Suid-Afrika en Zimbabwe word in die studie op drie gronde met mekaar vergelyk: Die teruggawe van grondeiendom, die herverdeling van grondeiendom en die hervorming van besitreg. Die doel van die studie is om te bepaal of Suid-Afrika in die voetspore van Zimbabwe gaan volg. Zimbabwe staar die pynlike realiteit in die oë dat hul politieke revolusies hulle slegs halfpad tot ware onafhanklikheid gebring het. Die doel vir Zimbabwe was om 'n funksionele sosialistiese ekonomiese stelsel daar te stel waar besluitneming onder politieke beheer sou wees om sodanig drastiese herverdeling van rykdom vanaf blankes na swartes, asook onafhanklikheid van kapitaliste, te bewerkstellig. Die belangrikheid van grondbesit het nie werklik in die sosiale en ekonomiese ongelykhede gelê nie, maar in die onvermoë om grond te bekom tesame met 'n toenemende oorbevolkingsyfer, grondloosheid, grondverarming en toenemende armoede in swart gebiede. 'n Bydraende faktor was die groot mate van onderbenutting van grond in blanke boerdery gebiede. Aan die ander kant, het Suid Afrika baie vroeg in die oorgangsfase voorsiening vir 'n georganiseerde en stelselmatige grondhervormingsproses, in die grondwet gemaak. Ongelukkig het die proses baie langer gesloer as wat aanvanklik beplan is. Dit het tot onrustigheid onder die mense wat geen grondeiendom besit het nie en dié wat grondeise ingedien het, gelei. Suid Afrika het onlangs besluite geneem om die proses te bespoedig deur 'n paar belangrike besluite te neem, om die grondhervormings proses, vinniger te maak Dit word gedoen deur ekspropriasie as onderhandelinge onsuksesvol is. Soos in Zimbabwe, mag die werklike probleem nie slegs oor geondbesit gaan nie. Dit reflekteer die behoefte aan werkverskaffing, veral in die infrastruktuur van arm gebiede en die investering industrialisasie. Alhoewel dit lyk asof Suid-Afrika nie suksesvol in die herverdeling van grond is nie, kom die studie tot die slotsom dat die land nie in die spore van Zimbabwe sal volg nie. Dit kom voor asof die Suid-Afrikaanse owerheid nie sal toelaat dat mense sonder grondbesit, grond onregmatig inneem soos in Zimbabwe nie, omdat hulle 'n punt in die media daarvan gemaak het. Die owerheid het die mag om die wet toe te pas in situasies waar grond onregmatig ingeneem word. Alhowel die LPM ("Landless Peoples Movement") 'n soortgelyke manifes en doelstellings as die oorlogveterane van Zimbabwe het, blyk dit nie asof hulle so militaristies is nie en dat hulle gereed is om saam met die owerheid en mense te werk sodat die hervormingsproses in die beste belange van Suid-Afrika plaasvind. Hierdie studie kyk dus na die grondhervormingsproses in Zimbabwe en Suid Afrika en vorm idees rondom die skepping van 'n uniforme proses wat die beste hervormingsmetode is vir die gebruik van die Suid-Afrikaanse Ontwikkelingsgemeenskap.

Thesis (MPhil)--Stellenbosch University, 2002. / ENGLISH ABSTRACT: Land has been the revolutionary metaphor for wealth and power in the world and even more so in Africa. Ideally, land reform in Africa should therefore, contribute to social and economic progress and ultimately result in social equity as well as increased agricultural productivity. This study was devoted to the history of colonialism and the meaning and birth of land reform policies after colonialism. Moreover, to familiarise the reader with the various meanings and issues concerning land reform particularly in Kenya and Zimbabwe. The outcome of the study was to provoke further discussion on the need for land reform in other developing countries, especially South Africa, as well as to investigate whether colonialism created certain land ownership patterns that had harmful effects on the political and economic climate after independence in Kenya and Zimbabwe. Kenya has been unable to establish a sustainable land reform programme since independence. Ethnic clashes in the early 1990's were seen as a continuation of a battle to recognise the existence of property rights. The contributing factor to the conflict was the fact that the political leadership in Kenya was the direct beneficiary of land reform policies. Furthermore, the uncontrolled privatisation of public land only resulted in economic and agricultural decay. The Kenyan experience provides no evidence of increase in agricultural production, but inevitably resulted in social and economic inequalities and the emergence of significant landlessness, which was a result of the inadequacy of government, to provide credit as was initially proposed. Zimbabwe faces the painful reality that its political revolutions have only brought them halfway to true independence. The objective for Zimbabwe was to establish a functional socialist economy where decision making would be under political control in order to bring about the drastic redistribution of wealth from whites to blacks and to become independent form capitalists. The importance of land in Zimbabwe did not so much lie in the social and economic inequalities, but rather the inability to access land, accompanied by a growing overpopulation, landlessness, land deterioration and escalating poverty in the black areas parallel with severe under-utilisation of land in the white farming areas. This study concludes that African governmental land reform programmes have had mixed success. The complex nature of the liberation struggles in Africa, created diverse post-independence governmental systems. However, some former colonies illustrate certain common underlying issues such as the fact that years after independence, land remains one of the key unresolved issues in both Kenya and Zimbabwe, as well as in South Africa. / AFRIKAANSE OPSOMMING: Gesien in die lig dat grond die revolusionêre metafoor van rykdom en mag in die wêreld, nog te meer in Afrika is, sal dit ideaal wees indien grondhervorming in Afrika kan bydra tot sosiale en ekonomiese bevordering en uiteindelik kan uitloop in sosiale gelykheid asook toename in landbou produktiwiteit. Hierdie studie was toegewy aan die geskiedenis van kolonialisme en die betekenis en oorsprong van grondhervormingsbeleide na kolonialisme, asook om die leser in te lig oor menings en uitgangspunte rakende grondhervorming, spesifiek in Kenya en Zimbabwe. Die doel van die studie was om verdere besprekings oor die behoefte vir grondhervorming in ander ontwikkelende lande, veral Suid-Afrika, uit te lok. Verder om te ondersoek of kolonialisme sekere grondeienaarskappatrone veroorsaak het wat negatiewe effekte op die politieke en ekonomiese klimaat in Kenya en Zimbabwe, na onafhanklikheidswording, veroorsaak het. Kenya is, sedert onafhanklikheidswording, nog nie in staat om 'n volhoudbare grondhervormingsprogram daar te stel nie. Etniese botsings in die vroeë 1990's was gesien as 'n voortsetting van 'n geveg om die bestaan van eiendomsregte te erken. Die bydraende faktor tot die konflik was die feit dat die politieke leierskap in Kenya direkte begunstigdes van die grondhervormingsbeleide was. Verder het onbeheerde privatisering van openbare grond ekonomiese en landbou verval tot gevolg gehad. Die Kenya ondervinding voorsien geen bewyse van toename in landbou produktiwiteit nie, maar het onvermydelik sosiale en ekonomiese ongelykhede en die ontstaan van merkwaardige grondloosheid tot gevolg gehad as gevolg van die onvermoeë van die regering om krediet te voorsien soos aanvanklik voorgestel was. Zimbabwe staar die pynlike realiteit in die oë dat hul politieke revolusies hulle slegs halfpad tot ware onafhanklikheid gebring het. Die doel vir Zimbabwe was om 'n funksionele sosialistiese ekonomie daar te stel waar besluitneming onder politieke beheer sou wees om sodanig drastiese herverdeling van rykdom vanaf blankes na swartes, asook onafhanklikheid van kapitaliste, te bewerkstellig. Die belangrikheid van grond het nie soveel in die sosiale en ekonomiese ongelykhede gelê nie, maar liewer in die onvermoë om grond te bekom tesame met 'n toenemende oorbevolking, grondloosheid, grondverarming en toenemende armoede in swart gebiede. 'n Bydraende faktor was die uiterse onderbenutting van grond in blanke boerdery gebiede. In samevatting wys hierdie studie dat grondhervormingsprogramme van regerings in Afrika gemengde sukses behaal het. Die kompleksiteit van die bevrydingstryde in Afrika het uiteenlopende post-onafhanklike regeringstelsels tot stand gebring. Nietemin, illustreer somige voormalige kolonies sekere algemene onderliggende uitgangspunte, onder andere die feit dat grond, jare na onafhanklikheid, steeds een van die belangrikste onopgeloste vraagstukke in beide Kenya en Zimbabwe, sowel as Suid-Afrika is.

No abstract available. / Thesis (Ph.D.)-University of Natal, Durban, 1975.