Abstracts in English, Afrikaans and Zulu / This study attempts to analyse the key FDI determinants in African countries using annual data for the period from 2003 to 2015. It firstly, gives the introduction and the background of FDI. Secondly, it provides both theoretical and empirical literature review on the key FDI determinants. Based on the literature review, the pre-estimation diagnostics (correlation analysis, descriptive statistics and mean and overall mean analysis), panel root tests, panel co-integration tests, main data analysis (fixed effects, random effects, pooled OLS, fully modified OLS and dynamic GMM) and robustness tests using the lagged variable approach were conducted to analyse the key FDI variables. Main data analysis indicated that the lag of FDI had a significant positive impact on FDI. The empirical results revealed that human capital development, infrastructure, growth rate, trade openness, natural resources, financial development, unemployment, exchange rate, government final consumption expenditure and population are the key FDI determinants in African countries. The robustness tests using the lagged variable approach were estimated to analyse if there is a causal relationship FDI and other variables such GDP, random effects revealed that there is uni-directional causality from GDP growth to FDI. Additionally, FDI was found to have been negatively but non-significantly affected by economic growth under the pooled OLS. / Hierdie studie poog om die sleuteleterminante van buitelandse direkte investering (BDI) in Afrikalande te ontleed deur gebruikmaking van jaarlikse data vir die tydperk 2003 tot 2015. Eerstens stel dit BDI bekend en verskaf ’n agtergrond daarvoor. Tweedens bied dit sowel ’n teoretiese as empiriese literatuuroorsig van die belangrikste BDI-determinante. Op grond van die literatuuroorsig is die volgende uitgevoer om die belangrikste BDI-veranderlikes te ontleed: voorskattingsdiagnostiek (korrelasieontleding, beskrywende statistiek en ontleding van gemiddelde en algehele gemiddelde), paneelworteltoetse, paneelkoïntegrasietoetse, hoofdataontleding (vaste effekte, ewekansige effekte, saamgevoegde gewone kleinste kwadrate [GKK], volledig gewysigde GKK en dinamiese veralgemeende momentemetode [VMM]) en robuustheidstoetse deur gebruikmaking van die gesloerdeveranderlike-benadering. Hoofdataontleding het aangedui dat die naloop van BDI ’n beduidende positiewe uitwerking op BDI het. Die empiriese resultate het aan die lig gebring dat mensekapitaalontwikkeling, infrastruktuur, groeikoers, handelstoegang, natuurlike hulpbronne, finansiële ontwikkeling, werkloosheid, wisselkoers, die staat se finale verbruiksbesteding en bevolking die belangrikste BDI-determinante in Afrikalande is. Die robuustheidstoetse deur gebruikmaking van die gesloerdeveranderlike-benadering het ten doel gehad om te ontleed of ’n kousale verband tussen BDI en ander veranderlikes soos BBP bestaan. Ewekansige effekte het getoon dat daar eenrigtingkousaliteit van BBP-groei na BDI is. Daarbenewens is bevind dat BDI negatief maar niebeduidend geraak is deur ekonomiese groei ingevolge die saamgevoegde GKK. / Lolu cwaningo luzama ukuhlaziya izinto ezinquma ngotshalo-mali lwamanye amazwe oluqonde ngqo olwaziwa ngokuthi yi-foreign direct investment (FDI) emazweni ase-Afrika ngokusebenzisa idata yonyaka yesikhathi sokusukela ngo 2003 ukuya ku 2015. Okokuqala, lwethula nokuhllinzeka ngesendlalelo nge-FDI. Okwesibili, luhlinzeka ngokubuyekeza imibhalo yethiyori kanye nobufakazi ngezinto ezibalulekile ezinquma nge-FDI. Ngokulandela imibhalo ebuyekeziwe, isilinganiso sokubonwa kwezimbangela okwaziwa nge-pre-estimation diagnostics (correlation analysis, descriptive statistics kanye ne-mean ne-overall mean analysis), uhlolo lwe-panel root tests, uhlolo lwe-panel cointegration tests, kanye nohlaziyo lwe-main data analysis (fixed effects, random effects, i-pooled ordinary least squares [OLS], i-fully modified OLS kanye ne-dynamic generalised method of moments [GMM]. kanye nohlolo olujulile ngokusebenzisa inqubo ye-lagged variable approach kwaqhutshwa ukuhlaziya izinto ezibalulekile ezinquma ngama-FDI variables. Uhlaziyo lwe-data enkulu lukhombise ukusalela emuva kwe-FDI kube nomphumela omuhle kwi-FDI. Imiphumela yobufakazi bocwaningo ikhombise ukuthi ukuthuthuka kwabantu, ingqalasizinda, izinga lokukhula komnotho, ukuvuleka kwezokuhwebelana, imithombo yemvelo, intuthuko yezezimali, ukusweleka kwemisebenzi, izinga lokushintshiselana ngezimali, izindleko zokusebenzisa izinto kukahulumeni, kanye nesizwe sonkana, yizinto ezinkulu ezinquma nge-FDK kumazwe ase-Afrika. Uhlolo olujulile olusebenzisa inqubo ye-lagged variable approach lwalinganiselwa ukuhlaziya ukuthi ngabe bukhona ubuhlobo bembangela yobuhlobo obukhona phakathi kwe-FDI kanye namanye ama-variable afana nawe-GDP. Imiphumela engahlelekile ye-random effects ikhombise ukuthi kukhona uhidehide lwembangela phakathi kokukhula kwe-GDP kanye ne-FDI. Nangaphezu kwalokho, i-FDI itholakale ichaphazeleka kabi kodwa ngokungabalulekile kakhulu ngokukhula komnotho ngaphansi kwe-pooled OLS. / Business Management / M. Com. (Financial Management)

The study investigated the impact of remittances on financial development in Africa using the dynamic generalised methods of moments (GMM) and other panel data analysis methods with data from 2003 to 2015. Using the same econometric estimation methods, the study also explored the influence of the complementarity between remittances and economic growth on financial development in Africa. Literature on the relationship between remittances and financial development is mixed, inconclusive and indecisive. The desire to contribute towards literature on the influence of remittances on financial development in the African context prompted this study. In Africa, personal remittances had an insignificant positive impact on financial development across all the econometric estimation approaches in all the four models, in line with some empirical studies on the subject matter. African countries are urged therefore to avoid wasting their time developing and implementing remittances, foreign aid and human capital development enhancement policies as a way of spearheading financial development. Using both broad money (as % of GDP) and domestic private credit ratio as measures of financial development, the interaction between remittances and economic growth was found to have a non-significant negative effect on financial development in Africa. The policy implication is that Africa needs to avoid over relying on economic growth as a channel through which financial development can happen / Die studie het die impak van betalings op finansiële ontwikkeling in Afrika ondersoek – deur middel van die dinamiese veralgemeende momentemetode (GMM) en ander metodes van paneeldata-ontleding, met data van 2003 tot 2015. Dieselfde ekonometriese beramingsmetodes is ook ingespan om die invloed van die komplementariteite tussen betalings en ekonomiese groei op finansiële ontwikkeling in Afrika te ondersoek. Die literatuur oor die verwantskap tussen betalings en finansiële ontwikkeling is gemeng, onoortuigend en vaag. Die begeerte om tot die literatuur oor die invloed van betalings op finansiële ontwikkeling in die Afrika-konteks by te dra, het tot hierdie studie aanleiding gegee. In Afrika het persoonlike betalings ʼn onbeduidende positiewe impak op finansiële ontwikkeling in al die benaderings tot ekonometriese beraming in al vier modelle gehad, wat strook met sommige empiriese studies oor die onderwerp. Afrika-lande word dus gemaan om nie hul tyd te mors met die ontwikkeling en implementering van betalings en buitelandse hulp en beleide om mensekapitaalontwikkeling te verbeter as ʼn manier om finansiële ontwikkeling te lei nie. Daar is bevind dat sowel breë geldvoorraad (as ʼn persentasie van BBP) en die binnelandse private kredietverhouding as maatstawwe van finansiële ontwikkeling, die wisselwerking tussen betalings, en ekonomiese groei ʼn nie-beduidende negatiewe uitwerking op finansiële ontwikkeling in Afrika het. Die beleidsimplikasie is dat Afrika moet waak teen oorafhanklikheid van ekonomiese groei as ʼn kanaal waardeur finansiële ontwikkeling kan plaasvind. / Ucwaningo beluphenya umthelela wezimali ezibhadalwayo mayelana nokuthuthukiswa komkhakha wezezimali e-Afrika ngokusebenzisa izindlela ezifanayo zezikhathi (GMM) kanye nezinye izindlela zokuhlaziywa idatha yephaneli ngokusebenzisa idatha yonyaka ka 2003 ukufikela ku 2015. Ngokusebenzisa izindlela ezifanayo zohlelo lokulinganisa isimo somnotho (econometric estimation), ucwaningo futhi luye lwahlola umthelela wousebenzisana okuphakathi kwezimali ezibhadalwayo kanye nokuhluma komnotho mayelana nokuthuthukiswa ngezimali e-Afrika. Umbhalo wobuciko mayelana nobudlelwano phakathi kwezimali ezibhadalwayo kanye nokuthuthukiswa kwezinhlaka zezimali uxutshwe ndawonye, awunaso isiphetho futhi awukwazi ukuthatha izinqumo. Isidingo sokufaka igalelo embhalweni wobuciko mayelana nomthelela wezimali ezibhadalwayo kwihlelo lokuthuthukiswa kwezimali ngaphansi kwesizinda sase-Afrika, ykho okuphembelele ukuthi kube nalolu cwaningo. E-Afrika, izimali ezibhadalwa abantu ziye zaba nomthelela omuhle kwintuthuko yezimali kuzo zonke izindlela zokulinganisa izinga lentuthuko yezomnotho kuwo wonke amamodeli amane, ngokuhambisana nezinye izifundo zocwaningo oluphathekayo lwalesi sifundo. Ngalokho-ke amazwe ase-Afrika ayanxenxwa ukuthi agweme ukumosha isikhathi sawo athuthukisana futhi asebenzisa uhlelo lokuthumela izimali futhi agweme ukuqinisa imigomo yoncedo oluvela emazweni angaphandle kanye nokuthuthukisa abantu ngokwamakhono omsebenzi, njengento yokuhlahla indlela yohlelo lokuthuthukiswa kwezimali. Ukusethenziswa kokubili imali ebanzi (njengephesenti le-GDP) kanye njengesilinganiso sesikweletu, phecelezi-domestic private credit ratio sisebenza njengesilinganiso sezinga lokutthuthuka ngokwezimali, ukusebenzisana phakathi kwezimali ezibhadalwayo kanye nokuhluma komnotho kutholakele ukuthi kube nomthelela ongabalulekile omubi phezu kwezinga lentuthuko yezimali e-Afrika. Ngokomgomo lokhu kuchaza ukuthi i-Afrika idinga ukuthi igweme ukwencika kakhulu ukusebenzisa uhlelo lokuthuthukiswa komnotho njengomgudu lapho kungathuthukiswa komnotho. / Financial Accounting / M. Com. (Business Management)

The aim of this research was to identify and assess the extent to which AngloGold Ashanti (AGA) Mining Company has been able to apply its corporate social responsibility (CSR) policies in its operations, in a participatory manner, in contributing to sustainable development in its area of operation. The mixed method approach was used. Cluster sampling under the random sampling and purposive sampling methods were used to select both the respondentsand communities affected by mining. Six communities were surveyed from the Obuasi Municipality in the Ashanti region of Ghana. Participatory interviews, questionnaires, focus group discussions and participant observation techniques were used to gather data. The study identified that the CSR initiatives of AGA are evaluated on five main principles, namely commitment to core values, compliance with legal provisions, managerial discretion in taking actions, economic contributions and participatory mechanisms. The study found that, to some extent, the local people have been engaged in the implementation of AGA’s CSR activities. 25.2% were involved in project planning and design, and more than 80% were informed before the start of projects. Also, the results reveal that AGA’s mining activities have had both positive and negative impacts on the economic well-being of residents within the selected communities. The impact of AGA’s mining activities on the environment, especially on water quality, soil quality, sanitation and noise levels, was found to be negative, resulting in major health problems for residents in mining communities. As a contribution to knowledge, the study shows how community members (respondents) perceive AGA’s CSR activities as fulfilling just one aspect of CSR (philanthropic dimension) and not necessarily rectifying the effect of their mining activities on the environment (ethical dimension). The study therefore recommends that comprehensive CSR measures principled through the lens of nonphilanthropic considerations be developed to reverse the general negative outcomes of mining on communities economically, socially and environmentally, especially regarding the growing unemployment and displacement of communities. / Inhloso yalolu cwaningo kwakuwukuhlonza nokuhlola ukuthi iNkampani yeMayini iAngloGold Ashanti (AGA) ikwaze kanjani ukusebenzisa izinqubomgomo zayo zegunya lokubambisana kwezenhlalo (GLK) ekusebenzeni kwayo, ngendlela yokubamba iqhaza, ekunikelweni entuthukweni esimeme emkhakheni esebenza kuyo. Kusetshenziswe indlela ehlanganisiwe. Iqoqo lamasampula ngaphansi kwesampula engahleliwe nezindlela zokwenza amasampula ahlosiwe asetshenziselwe ukukhetha bobabili abaphendulayo kanye nemiphakathi ethintekayo ezimayini. Kuhlolwe imiphakathi eyisithupha ivela kuMasipala wase-Obuasi esifundeni i-Ashanti eGhana. Izingxoxo zokubamba iqhaza, iqoqo lemibuzo, izingxoxo zamaqembu okugxilwe kuwo kanye namasu wokubuka ababambiqhaza asetshenziselwe ukuqoqa idatha. Ucwaningo lukhombe ukuthi izinhlelo ze(GLK) le-AGA zihlolwa ngemigomo engqala emihlanu, okungukuthi ukuzibophezela kumanani ayisisekelo, ukuhambisana nezinhlinzeko zomthetho, ukuqonda ekuthatheni izinyathelo ezithile, iminikelo yezomnotho nezindlela zokubamba iqhaza. Ucwaningo luthole ukuthi, ukuya ezingeni elithile, abantu bendawo babambe iqhaza ekwenzeni imisebenzi ye-AGA's ne GLK. Ama-25.2% abambe iqhaza ekuhleleni nasekuklanyweni kwamaphrojekthi, kwathi abangaphezu kuma80% aziswa ngaphambi kokuqala kwamaphrojekthi. Futhi, imiphumela iveza ukuthi imisebenzi yezimayini ye-AGA ibe nemithelela emihle nemibi enhlalweni yezomnotho yabahlali emiphakathini ekhethiwe. Umthelela wemisebenzi yezimayini ye-AGA emvelweni, ikakhulukazi kwizinga lamanzi, ikhwalithi yenhlabathi, ukuthuthwa kwendle namazinga omsindo, kutholakale kukubi, okuholele ezinkingeni ezinkulu zezempilo kubahlali emiphakathini yezimayini. Njengokunikela olwazini, ucwaningo lukhombisa ukuthi amalungu omphakathi (abaphendulayo) bayibona kanjani imisebenzi ye-AGA's CSR njengokufeza isici esisodwa seGLK (ubukhulu bokusiza) hhayi ukuthi kulungiswe umthelela wemisebenzi yabo yezimayini emvelweni (ubukhulu bokuziphatha).Ngakho-ke ucwaningo luncoma ukuthi izinyathelo eziphelele ze-GLK eziqondiswa ngokusebenzisa ukuqondwa kwezinto ezingenkulu ezingezona zokusiza zithuthukiswe ukuguqula imiphumela emibi ejwayelekile yezimayini emiphakathini ngokwezomnotho, kwezenhlalo nangokwezemvelo, ikakhulukazi maqondana nokwanda kwemiphakathi engasebenzi kanye nokufundiswa kwayo. / Maikemišetšo a dinyakišišo tše ke go tseba le go sekaseka bogolo bjo ka bjona Khamphani ya Moepo ya AngloGold Ashanti (AGA) e kgonnego go phethagatša melawana ya ona ya maikarabelo a khamphani setšhabeng (CSR) ka mešomong ya yona, ka mokgwa wa go kgatha tema ga badudi, ka nepo ya go tsenya letsogo go tlhabollo ya go ya go ile ka lefelong leo e šomelago go lona. Mokgwa wo o hlakantšego mekgwa o šomišitšwe ka mo dinyakišišong tše. Go dira sampole sehlopha ka fase ga mekgwa ya go dira sampole ka sewelo le go dira sampole ka maikemišetšo go šomišitšwe go kgetha bobedi baarabi le ditšhaba tšeo di amilwego ke meepo. Go ile gwa dirwa dinyakišišo go metse ye tshela ka Masepaleng wa Obuasi ka seleteng sa Ashanti sa Ghana. Dipoledišano tšeo baarabi ba kgathago tema ka go tšona, lenaneo la dipotšišo tša dinyakišišo, dipoledišano tša dihlopha tšeo di nepišitšwego le mekgwa ya go lekola bakgathatema e šomišitšwe go kgoboketša tshedimošo. Dinyakišišo di utollotše gore maitekelo a CSR a AGA a sekasekwa go melawana ye mehlano ye megolo, e lego boikgafo go maitshwaro a bohlokwa, go obamela ditlhagišo tša melao, sephetho sa ba taolo sa go tšea dikgato, seabe sa ekonomi le mekgwa ya go kgatha tema. Dinyakišišo di utollotše gore, go fihla mo go itšego, go rerišanwe le batho ba tikologo ka go phethagatšeng ga ditiro tša CSR tša AGA. 25.2% ya bona e kgathile tema ka peakanyong le tlhamo ya protšeke, gomme palo ya go feta 80% e tsebišitšwe pele ga ge diprotšeke di ka thoma. Gape, dipoelo di utolla gore mešomo ya meepo ya AGA e bile le bobedi diabe tše botse le tše mpe go seemo sa ekonomi sa badudi ka metseng ye e kgethilwego. Seabe sa mešomo ya meepo ya AGA go tikologo, kudukudu go boleng bja meetse, go boleng bja mobu, go kelelatšhila le go maemo a lešata, go hweditšwe gore e bile ao a sego a loka, gomme se ile sa feletša ka mathata a magolo a tša maphelo go badudi ba ka metseng yeo meepo e lego gona. Bjalo ka seabe go tsebo, dinyakišišo di bontšha ka fao maloko a setšhaba (baarabi) ba bonago mešomo ya CSR ya AGA e lego yeo e phethagatšago fela selo se tee sa CSR (e lego ditiro tša go abela setšhaba) e sego go phošolla seabe sa mešomo ya bona ya meepo go tikologo (e lego ditiro tša maitshwaro). Dinyakišišo ka fao di šišinya gore magato ka kakaretšo a CSR ao a beilwego go se gwa lebelelwa go abela setšhaba a phethagatšwe ka nepo ya go phošolla dipoelo tša kakaretšo tšeo di sego tša loka tša mešomo ya meepo go ditšhaba mabapi le tša ekonomi, tša leago le tikologo, kudukudu mabapi le go tlhokego ya mešomo ye e golago le go tloša ditšhaba mafelong a tšona. / Development Studies / D. Phil. (Developmental Studies)