Thesis (MDF)--Stellenbosch University, 2015. / ENGLISH ABSTRACT: The approach to offering financial services to the poor has evolved over the past decades. The microfinance schism between the two paradigms, institutionist and welfarist, has yet to be narrowed by evidence of greater success of the one over the other. The drive for commercialisation of microfinance institutions has spurred many crises across the globe and the validity of the argument that commercial microfinance is more sustainable has come under scrutiny. This research report dissects the sustainability of African Bank and Capitec, two commercial microfinance institutions. Accounting ratios are applied to the audited financial data of both microfinance institutions to measure their sustainability from 2007 up to their most recent audited results. The research has found that both microfinance institutions experienced rapid growth since 2007, primarily driven by larger average loan sizes over longer terms. The research shows that Capitec has more diverse sources of revenue and depends less on its loan portfolio to generate income than African Bank. It also shows that Capitec has a more conservative approach with regard to provisioning for loans, and is consequently better prepared for loan write-offs than African Bank. Overall, Capitec is found to be more sustainable in each period measured.

D.Com. (Business Economics) / A clear distinction should be made between the straightforward financing of a project and project finance itself. In short, project finance can be defined as the financing of a particular economic unit with the aim of the financial structuring to be such that there is as little recourse as possible to the sponsor of the project and the lender is thus satisfied to look at the cash flows and earnings as the source of repayment and the assets of the project as security. Usually, project finance would incorporate all or some of the following characteristics namely, off balance sheet financing, recourse limited to the pre-commissioning stage, an element of fixed rate debt, utilisation of tax allowances, optimisation of tax position, long term finance and some degree of foreign exchange activity. If the project is sponsored by an existing company, it will be looking to maximise debt, minimise recourse and group tax liability, optimise financial costs and retain or improve financial ratios after consolidation of the project. However, the degree of project financing appropriate for any project depends on what lenders are prepared to accept and what sponsors are prepared to provide in order to let the project become a reality. The project financier's role is to formulate financial structures, assess financial feasibility, develop funding proposals, secure sources of finance and to manage the financing facilities once they are in place. A project sponsor employs a project financier because the latter is objective, impartial, has access to required information and is able to process it into a professional presentation to the financial community, has the experience and expertise to advise on the most appropriate and cost effective financing structure and is best equipped to perform a thorough project financial analysis. This study has been undertaken to point out the differences between project finance and finance for a project, to identify the role of project financier and is as such largely concentrated on the financial side of a project. The goal was to discuss the importance of project finance from the financial institutions' viewpoint and to identify those aspects that would be important to a project advisor or lender. Although relatively little has been published on project finance, it is a multidisciplinary subject and references have been used wherever available. The author's attendance at seminars on the subject, as well as discussions with international project financiers and bankers have also contributed to the understanding of the subject. In addition to an in-depth exposure to project finance in South Africa, several months have been spent with an international bank's project finance division in London.

A research report submitted to the Faculty of Commerce, Law and Management, University of the Witwatersrand, Johannesburg, In partial fulfilment of the requirements for the degree of Master of Management (Finance and Investment), March 2016 / DFIs play a very important role in economic development of most countries. In South Africa (SA), they have an additional role of addressing socio-economic development and transformation problems that were created by the previous Apartheid system. In particular, DFIs in SA address unemployment, redistribution of income, private sector development and manufacturing sector growth. However, it is not clear whether these DFI’s are having a positive impact on the socio-economic transformation as they are expected to, given the amount of money that the government budget for them each year. The aim of this research is to investigate whether SA DFI’s have significant impact on the country’s socio-economic development and transformation. DFI credit extension is found to have positive and significant impact on economic growth in in both South African and in emerging markets. Also, in both South Africa and in emerging markets, government consumption has negative impact on economic growth. An additional analysis further shows that DFI credit extension promotes increase in manufacturing-toGDP in SA and in other emerging markets. DFI has significantly positive impact on HDI in South Africa but not in emerging markets. There is a positive (albeit not significant) impact of DFI credit extension on poverty in South Africa, worse still, the relationship is significantly negative in other emerging countries. The results show that the government should bolster the DFI funding as these DFIs play a significant role in the economic development of the country. / GR2018

M.Com. / The purpose of this study is to consider the financial advice an estate agent should give the purchaser and seller of a house in order to allow the parties to have a clear understanding of the financial implications of the sale. Entering into an agreement of sale in respect of personal property, with specific reference to housing, has to be one of the biggest single investments of a person's life. Should a person make such a decision without having sufficient advice concerning the financial implications, making a mistake could have far-reaching results. That is why it is in the best interests of the country that both parties should receive comprehensive financial advice. Not all estate agents are able to provide professional financial advice to purchasers and sellers of houses. The main reason for this is insufficient agent training. In addition to this, agents are allowed to close deals between purchasers and sellers for a year before writing an examination according to law. Purchasers are generally uninformed about sale transactions and what is more, usually respond to advertisements encouraging them to purchase a home of their own at low monthly instalments. The hidden cost items are not always revealed to the parties to a sale agreement. An estate agent is not an "agent" in the true juridical sense of the word,because he cannot close a deal on behalf of his principal (who instructs him).

D.Phil. (Leadership in Performance and Change) / The aim of this study was to develop a clearly defined organisational change management model to facilitate effective change leadership within Group Payment Systems. one of the departments of a South African bank A modernist qualitative methodology, with casing as research design and grounded theory as research strategy, was employed to develop a substantive model ...

Rising global competition, the influence of advances in information technology and the re-engineering of business processes are some of the imperatives that force organisations to restructure their businesses. In South Africa, the situation is even more compelling, with the recent democratisation of the country that requires companies to implement certain restructuring programmes designed to empower previously disadvantaged individuals. Organisational restructuring is therefore inevitable for any organisation. These changes, however, do affect organisations and employees. Employees become insecure, confused about their jobs, and therefore less productive. To the extent that change can adversely affect both organisations and employees, it becomes critical that organisations should implement it carefully, if they are to survive. To achieve this, requires managers to fully understand drivers of change, the possible consequences of change on both organisation and employees, and to take appropriate actions. The main objective of this study was to identify possible approaches that organisations can pursue in implementing restructuring without adversely affecting the employees. The practical context chosen was an organisation that had recently implemented organisational restructuring. The research methodology for this study entailed the conducting of an intensive study of the relevant literature, to determine what the theory reveals in respect of restructuring strategies that can assist organisations in effectively implementing the restructuring process. Dissertations, theses, research reports and journals were consulted, in an attempt to formulate a theoretical basis for this study. The contemporary literature reveals that there are various strategies that organisations can employ to effectively restructure their organisations with minimal adverse influence on employees. The restructuring organisations should ensure that employees are genuinely involved in the process at the iv outset. The desired changes and the benefits thereof, should be clearly and consistently communicated to the employees at the beginning of the restructuring process. An empirical study was then conducted at the chosen organisation that had recently embarked on an organisational restructuring. The focal point of the empirical study was to determine how this organisation had implemented its restructuring process. The main purpose was to establish the impact that this restructuring had on the morale and motivation of the employees. The final step of this study included an assessment of the findings. This was done so that suitable conclusions could be drawn and appropriate recommendations made. The conclusions revolved around the effects of restructuring on the employees of this organisation. The focus of the recommendations was on what approaches the restructuring organisations should follow to successfully and effectively implement the restructuring process, without adversely affecting the employees.

M. Tech. Business Information Systems / The technological world is emerging and advancing rapidly. Organisations aspire to meet their business goals and strategic objectives. IT projects have the ability to enable organisations meet their business goals and objectives hence organisations invest a lot of time and money on implementing them. The increasing need for organisations to use technology has made organisations implement IT projects. IT projects are implemented to achieve efficiency and effectiveness that is crucial in achieving business goals and strategic objectives. Other benefits include, improved and increased customer satisfaction, improved growth and development within the teams and competitive advantage. Despite an increase in studies on the performance metrics for IT project success in organisations, IT projects still fail. Many IT Projects are considered failed when they are not delivered on time, not delivered within budget, and when the delivered solution does not meet the business requirements. This research study aimed at determining the performance metrics for IT project success within a financial organisation

M. Tech. Cost and Management Accounting / This research seeks to determine, through a critical analysis of the Land Banks financial management strategy and National Treasury oversight model, to identify more efficient and effective oversight tools. A qualitative research methodology was utilised, involving a detailed literature review, an analysis of Land Banks financial data, and the gathering of data through interviews. The qualitative phase of the research entailed in-depth interviews with subject matter experts within the Land Bank and the National Treasury.

Thesis (MBA)--Stellenbosch University, 2002. / ENGLISH ABSTRACT: The efficiency and availability of financial services for the poor is a global problem, and has only recently started to enjoy attention in South Africa. This dissertation aims to study the problems experienced by the South African microfinance industry, which includes a vast range of financial products. The survey conducted of the South African industry indicates that its makeup is significantly different from the industries in Latin America and Asia. The problems in the industry are prioritised and show the high cost structure to be the most pressing issue. A number of these issues show agreement as expressed by Spearman rank correlation coefficients. Clear trends exist between distinct market-segments in the industry. Tests for differences in location of specific populations indicate significant differences in perceptions regarding these segments. The government's recent suggestion to unify the financial service regulators into a mega-regulator is based on the assumption that the microcredit and commercial credit industries share the same priorities and problems. The very low Spearman rank correlation coefficient found in this study, on the other hand, seems to indicate that no reason exists to assume the priorities are the same at the two levels. Finally, it is shown by means of a "best practice matrix", that solutions to most problems can be found, but that the fit is dependent on a large number of variables. / AFRIKAANSE OPSOMMING: Die beskikbaarheid van finansiële dienste vir armes is 'n wêreldwye probleem, en het eers onlangs meer aandag in Suid Afrika begin geniet. Hierdie studie fokus op die probleme wat ervaar word in die mikrokrediet (mikrolenings) industrie. Die opname toon dat die Suid-Afrikaanse industrie beduidend verskil in samestelling van die ooreenstemmende industrieë in Suid-Amerika en Asië. Die probleme in die industrie is geprioritiseer en toon dat die hoë koste-struktuur die grootste probleem is. Sekere kwelpunte toon ooreenstemming, uitgedruk by wyse van Spearman se rangkorrelasie-koëffesiënt. Duidelike tendense bestaan tussen onderskeie mark-segmente in die industrie. Toetse vir ooreenstemming in die ligging van sekere populasies toon beduidende verskille in persepsies rakende hierdie segmente. Die regering se onlangse voorstel om die beheer-liggame van finansiële dienste saam te snoer in een liggaam is gebaseer op die aanname dat die mikrokrediet en kommersiële krediet industrië dieselfde probleme en prioriteite deel. Die baie lae Spearman rangkorrelasie-koëffisiënt impliseer egter dat daar geen grondige rede bestaan om aan te neem dat die prioriteite dieselfde is vir die twee vlakke nie. Laastens word beste praktyke aangedui in die vorm van 'n "beste praktyk matriks". Oplossings vir byna alle probleme kan gevind word, maar die toepaslikheid is afhanklik van 'n wye verskeidenheid veranderlikes.

M.Com. ( Business Management) / Please refer to full text to view abstract