Thesis (MPA.) --University of Limpopo, 2016. / Refer to document

Thesis (MBA)--University of Stellenbosch, 2010. / Fixed investment is a prerequisite to economic growth and sustainable development. Such investment includes large and focused capital spending on the expansion and maintenance of major integrated economic infrastructure. South Africa‘s municipal environment is characterised by extensive infrastructure backlogs, an apparent lack of available funding to eradicate these backlogs as well as incapacities to unlock the required funding. This study proposes a mechanism to successfully unlock available funds and to optimally gear large infrastructure projects. The proposed mechanism focuses on reducing and mitigating project and unsystematic risk evaluations of private financiers. As part of the solution the two concepts of Security Risk Deposit and Limited Risk Deposit are introduced. The solution is based on the principle of associated risk transferral and a type of financial insurance related to remaining perceived levels of project and unsystematic risk. The key dilemma relating to the approach to infrastructure development in South Africa, is presented and is systematically resolved over the course of the study. The proposed solution is simulated and it confirms that it is indeed a valid way of ensuring that government attains more value from the limited available grant funding. Private financiers, government departments and the citizens of South Africa will be able to benefit from the proposed approach.

Thesis (MDF)--Stellenbosch University, 2014. / ENGLISH ABSTRACT: The South African population involves huge numbers of young people. The majority of these young people are unemployed and unable to make a living as a result of the inability of the economy to absorb them into the labour market. Other young people attempt to make a living through entrepreneurship. However, the participation of young people in entrepreneurship is very low. Young people face many challenges associated with lack of funding and business development support services, technical skills and development. The problems facing the country substantially caused socio-economic challenges resulting in a shrinking economy. This translated into an inability of both the private sector and government to create and sustain jobs. The government of South Africa established the National Youth Development Agency (here called the Agency) with the mandate to reduce poverty by making sound investments. This facilitates opportunities for young people to acquire skills, promote creation of jobs or pursue meaningful self-employment opportunities through various enterprise development initiatives. The agency developed the Enterprise Development Finance Programme as an economic development approach. The agency provides access to financial and non-financial services to the previously disadvantaged youth in a sustainable manner that improves and promotes sustainable livelihoods for the low-income groups. The study evaluates the effectiveness of the EDFP. The public and private sector offers different programmes aiming at equipping aspiring and established entrepreneurs with skills, knowledge, and motivation to enable business development and growth in the country. However, the challenge is that many do not have entrepreneurial minds. Those who have entrepreneurship knowledge do not know about the programmes, or the programmes are not easily accessible particularly to people in the rural areas. In addition, these programmes are not co-ordinated and as result we are not in a position to tell immediately as to who is doing what and where. This also makes it difficult to identify gaps and to maximise the impact of the programmes. There is a need to audit all programmes aimed at improving the economic development of the country. The government of South Africa must instil a culture of entrepreneurship at all levels to promote and nurture entrepreneurship skills. Vigorous entrepreneurial activity and innovation is needed to alleviate high unemployment levels through a combination of improved quality education and skills development. Promotion and support of entrepreneurship should form an important component of policy options considered to increase economic growth for the long term. The Economic Development Finance programme provides SME and microfinance funding which is seen as an important strategy for economic growth. Education and skills development is an important tool that supports the culture of entrepreneurship, as it contributes to the success of businesses. The private and public institutions should intensify their involvements and consider both financial and non-financial support for youth enterprises and entrepreneurs equally. The support for entrepreneurship should be holistic and cover funding, technical training, training in business and financial management, and business linkages.

Thesis (MDF)--Stellenbosch University, 2015. / ENGLISH ABSTRACT: Developing sustainable forests has been acknowledged to be important, not just as a way of averting deforestation and land degradation, but as another opportunity to contribute positively towards rural development, especially in sub-Saharan Africa. Forestry development has, however, not received the recognition it deserves. Its importance to economic development and its potential contribution have not been explicitly communicated and thus remain undervalued. The long rotations required for trees to mature, plus the associated risk from fires, pests and diseases has affected the sector’s ability to attract investment. In South Africa this reluctance is evident in both the public and private sectors alike. Access to finance for forestry remains a challenge, which negatively affects the supply to the processing part of the value chain. The objective of the study is to review current forestry funding mechanisms in South Africa, specifically plantations and their contributions to rural economic development. Using secondary data, the study reviewed the current sector funding from the state, development funding institutions and the private sector. The study also looked at alternative sources used in other countries and how they can be customised to the South African economy. In this study it was found that there are gaps between policies aimed at the development of the sector on the one hand, and the resources allocated to the sector on the other hand. The available schemes fail to support the sector policies’ objectives. These discrepancies can be attributed to the poor design of the current offering, the development of which failed to fully consider the dynamics of the sector. The conclusion of the study was that the government needs to play more of a leading role in developing the sector, especially with the small-scale growers who cannot be catered for by both commercial and development banks. The sector also stands to benefit significantly from better collaboration between the public and private sectors. Policies that create an enabling environment would also encourage the private sector to invest more. The study also suggested that, in view of the dynamics of the sector and its contribution to climate change risk mitigation, there is room to tap innovative funding such as that offered by environmental funding.

Assignment (MComm)--University of Stellenbosch, 2001. / ENGLISH ABSTRACT: A definite need exists for a measure which can be used to determine the degree of capital intensity of an enterprise. One of the main reasons why it is important to determine if an enterprise is capital or labour intensive is that the two types of enterprises react to changes in the economic environment in different ways. Some changes in the economic factors will have a totally different effect on a capital intensive enterprise than they would have on a labour intensive one. The degree of capital intensity of an enterprise can therefore be used to predict how it will react to economic changes, and it is therefore a valuable source of information for financial decision-making. The measurement of capital intensity, however, presents a major problem. A large number of different measures have been developed and used in the literature. These measures include the measures of total assets to revenue; property, plant and equipment to revenue; property, plant and equipment to total assets; depreciation as a percentage of revenue; as well as property, plant and equipment per employee. A number of measures are also based on value added figures, and these include salaries to revenue; value added per employee; property, plant and equipment to value added; and salaries to value added. In the literature most researchers provide no or little justification for their preferred measure of capital intensity. The main objective of the study is to determine an appropriate method to measure capital intensity. For this purpose the above-mentioned measures, which are generally used to determine capital intensity, are considered critically and evaluated by classifying enterprises listed in the Industrial Sector of the Johannesburg Stock Exchange during the period 1989 to 1996. During this period the South African economy experienced a decline, followed by an upswing in the economic cycle. Principal component analyses (PCA) are used to analyse the data. These analyses are carried out for each year separately as well as for the period as a whole. Biplots are used to provide a multidimensional graphic representation of the results. The results indicate that the five traditional measures of capital intensity which are not based on value added figures are all suitable to use as measures of capital intensity. Only one of the measures based on value added figures, however, are able to indicate capital intensity. The five traditional measures of capital intensity which are not based on value added figures, as well as the measure property, plant and equipment to value added, are therefore included in the principal component analyses. The principal component scores obtained from the first principal component are proposed as a composite measure of capital intensity. These principal component scores represent a linear combination of the six measures of capital intensity. The relative contributions of the various measures to this composite measure are also investigated, and it is found that all six the measures provide an important contribution. The results indicate that a number of enterprises listed in the Stores and Food sectors are relatively less capital intensive, while enterprises listed in the Building and Construction, Engineering, Steel and Allied, and Electronics sectors are relatively capital intensive. A visual evaluation of the results indicates that the proposed method IS able to distinguish between capital and less capital intensive enterprises. The results of the study provide researchers with a more efficient way of measuring capital intensity, and can be used to provide more information about the effect of changes in the economic cycle on the expected financial performance of enterprises. / AFRIKAANSE OPSOMMING: 'n Duidelike behoefte bestaan VIr 'n maatstaf wat gebruik kan word om die kapitaalintensiteit van 'n onderneming te bepaal. Een van die vernaamste redes waarom dit belangrik is om te bepaal of 'n onderneming kapitaal- of arbeidsintensief is, is die verskillende wyses waarop die twee tipes ondernemings gedurende 'n verandering in die ekonomiese siklus reageer. Sommige veranderinge in die ekonomiese faktore sal die teenoorgestelde effek op 'n kapitaalintensiewe onderneming hê as wat dit op 'n arbeidsintensiewe onderneming mag hê. 'n Onderneming se graad van kapitaalintensiteit kan dus gebruik word om te voorspel hoe die onderneming op ekonomiese veranderinge sal reageer, en is dus 'n belangrike bron van inligting by finansiële besluitneming. Die meting van kapitaalintensiteit is egter 'n belangrike probleem. 'n Groot aantal verskillende maatstawwe van kapitaalintensiteit is ontwikkel en word algemeen in die literatuur gebruik. Hierdie maatstawwe sluit totale bates tot inkomste; eiendom, aanleg en toerusting tot inkomste; eiendom, aanleg en toerusting tot totale bates; depresiasie as 'n persentasie van inkomste; asook eiendom, aanleg en toerusting tot aantal werknemers in. 'n Aantal maatstawwe wat op waarde toegevoeg gebaseer is, is ook ontwikkel, en sluit die maatstawwe salarisse tot inkomste; waarde toegevoeg per werknemer; eiendom, aanleg en toerusting tot waarde toegevoeg; asook salarisse tot waarde toegevoeg in. In die literatuur verskaf die meeste navorsers min of geen motivering vir die spesifieke maatstaf wat hul voorkeur geniet nie. Die primêre doelstelling van die studie is om 'n geskikte metode te vind om kapitaalintensiteit te meet. Ten einde hierdie doelstelling te bereik, word die bogenoemde maatstawwe, wat algemeen gebruik word as maatstawwe van kapitaalintensiteit, krities ondersoek en geëvalueer deur ondernemings wat genoteer is in die Industriële Sektor van die Johannesburgse Aandelebeurs gedurende die periode 1989 tot 1996 te klassifiseer. Gedurende hierdie periode het die Suid-Afrikaanse ekonomie 'n afname, gevolg deur 'n opswaai in die ekonomiese siklus beleef. Hoofkomponent analises word gebruik om die verskillende maatstawwe te evalueer. Die analises word individueel uitgevoer vir elke jaar, sowel as vir die periode as 'n geheel. Bi-stippings word gebruik om 'n meerdimensionele grafiese voorstelling van die resultate te verskaf. Die resultate toon dat die vyf tradisionele maatstawwe van kapitaalintensiteit wat nie op waarde toegevoeg gebaseer is nie almal geskik is om as maatstawwe van kapitaalintensiteit gebruik te word. Slegs een van die maatstawwe wat op waarde toegevoeg gebaseer is, is egter in staat om kapitaalintensiteit aan te toon. Die vyf tradisionele maatstawwe van kapitaalintensiteit, sowel as die maatstaf eiendom, aanleg en toerusting tot waarde toegevoeg, word derhalwe ingesluit in die hoofkomponent analises, en die hoofkomponenttellings wat verkry word uit die eerste hoofkomponent word as 'n saamgestelde maatstaf van kapitaalintensiteit voorgestel. Hierdie hoofkomponenttellings verteenwoordig 'n liniëre kombinasie van die ses maatstawwe van kapitaalintensiteit. Die relatiewe bydraes van die verskillende maatstawwe tot die saamgestelde maatstaf word ook ondersoek. Die resultate dui aan dat 'n aantalondernemings wat in die Winkels en Voedsel sektore genoteer is relatief minder kapitaalintensief is, terwyl ondernemings wat in die Boubedryf, Ingenieurswese, Staal en Bedrywe, asook die Elektronika sektore genoteer is, relatief kapitaalintensief is. 'n Visuele evaluasie van die resultate toon aan dat die voorgestelde maatstaf in staat is om tussen kapitaalintensiewe en minder kapitaalintensiewe ondernemings te onderskei. Die resultate van die studie stel navorsers in staat om 'n meer effektiewe meting van kapitaalintensiteit te verkry, en kan ook meer inligting verskaf oor die invloed van veranderinge in die ekonomiese siklus op die verwagte finansiële prestasie van ondernemings.

A research report submitted to the Faculty of Commerce, Law and Management, University of the Witwatersrand, in partial fulfilment of the requirements for the degree of Masters in Management: Entrepreneurship and New Venture Creation Johannesburg, 2015 (March 2015) / The purpose of this research is to investigate human capital and social capital as determinants to access to finance for women SMME owners in South Africa. The study focuses on Human capital which encompasses social capital and looks at access to finance within the South African context. It does not include all other factors discussed in entrepreneurship theory. The major theories underlying this research are Social Network theory and Human capital theory. Human capital theory is viewed as formal education, skills attained and knowledge gained through informal knowledge such as prior work experience, industry experience and apprenticeship opportunities. These variables are assessed to see if they determine access to finance; which is a barrier to entrepreneurship in South Africa for SMME owners. This constraint is stressed in all The Global Entrepreneurship Monitor (GEM) reports from 2009 to 2014. This paper focuses on a single gender; females and assesses these capital factors as determinants to access finance for their entrepreneurial activity. Social capital as a factor is studied as a component of Human capital and two variables are assessed: strong ties and weak ties. Access to finance is evaluated as both debt and equity for entrepreneurs. Bivariate analysis was used to test the theories for results. The results showed an importance of human and social capital for entrepreneurs in running their businesses however not all human and social capital factors were confirmed to entirely determine access to finance for the women entrepreneurs. This study can potentially assist SMME owners within South Africa, financial institutions, policy makers and support organisations for women-owned businesses with insight into what determines accessing finance for business. / MT2016

Thesis (MPhil)--Stellenbosch University, 2005. / ENGLISH ABSTRACT: Despite the seriousness of HIV and AIDS affecting productivity at workplaces, little attention is being paid to the special needs of the infected people in the world of work and the ultimate reality this will have on the companies’ financial health. HIV/AIDS retards economic development and business growth. The epidemic influences the workforce and markets in which business operates. Business must play a leading part in the internal response to HIV/AIDS pandemic. This is both an ethical imperative and the key to business success. Most research conducted on the subject mainly concentrated on the effects of HIV and AIDS on productivity, emphasizing absenteeism as the direct cause of low productivity. The costs of HIV and AIDS will be felt beyond the direct effect of the disease. The indirect costs include the following: The increased costs of recruiting and training, given the extra deaths and disabilities expected. The negative effect on staff morale Loss of time as a result of management and labor meetings to discuss the AIDS crisis as it develops, this resulting in loss of turnover and profits. With the rising prevalence of HIV/AIDS, businesses should be increasingly concerned about the impact of the disease on their organizations-concerns that should be well founded. At the broadest level, businesses are dependent on the strength and vitality of the economies in which they operate. HIV/AIDS raises the costs of doing business, reduces productivity and lowers overall demand for goods and services. The research process in this article focused particularly on workplace issues, which are a key dimension of the relationship between corporations and HIV/AIDS. Data collection was by both structured questionnaires and unstructured interviews, interviews with both management and workers’ representatives and structured questionnaires with the general workforce. The questions asked were open-ended: “Is HIV/AIDS a problem for your company now or in the future?” and “If HIV/AIDS impacted on your company’ financial performance would you act and why?” The research group consisted of four companies in different areas of operations: retail, service and manufacturing and the participants were chosen on the basis of certain inclusive criteria: The number of employees employed. Length of service operation. Willingness to share certain financial information. A qualitative method of data analysis was used in the study and is described in detail. The qualitative research method looks at the subjective meanings attached, descriptions, metaphors, symbols and descriptions of specific cases. It was found that despite the differences from one company to the other, the potential impact of HIV/AIDS on companies’ financials went beyond the direct costs of productivity. As the debate over the availability of cheaper generic anti-retroviral drugs rages in the background, business is faced with the dilemma of significant investment to keep their labour force healthy and alive. This has to be weighed up against the high costs involved in rehiring, retraining and re-incentivising their replacements. / AFRIKAANSE OPSOMMING: Ten spyte van tekens dat MIV en VIGS produktiwiteit in die werkplek affekteer, word daar nog baie min te doen aan die behoeftes van die werkers wat deur die epidemie getref word. Verder, word min aandag geskenk aan die potensiële uitwerking van die epidemie op die finansiële gesondheid van maatskappye. MIV/VIGS vertraag ekonomiese ontwikkeling en besigheidsgroei. Die epidemie het ‘n negatiewe impak op die arbeidsmag en die market waarin besigheid plaasvind. Besigheid moet dus die leiding neem in die interne respons op die MIV/VIGS pandemie. Dit is eties belangrik en die sleutel tot die sukses van besigheid. Die meeste navorsing oor die onderwerp het tot dusver gekonsentreer op die effek van MIV en VIGS op produktiwiteit met die klem op afwesigheid as ‘n direkte oorsaak van lae produktiwiteit. Die koste van MIV en VIGS behels egter veel meer as net die direkte gevolge van die siekte. Die indirekte koste sluit die volgende in: Die koste verbonde aan opleiding en die soeke na nuwe personeel weens sterftes en siekte van personeel. Die negatiewe effek op die moraal van personeel. Verlore tyd as gevolg van bestuurs- en arbeidsvergaderings om die VIGS-krisis te bespreek namate dit ontwikkel en winste negatief beïnvloed. Besigheid behoort meer bekommerd te wees oor die toename in MIV/VIGS gevalle en die impak wat dit op organisasies sal hê. MIV/VIGS verhoog die kostes van besigheid doen, verminder produktiwiteit en verlaag die algemene vraag na goedere en dienste. Die navorsingsbenadering in die artikel fokus op daardie werkplek-aangeleenthede wat ‘n sleuteldimensie is van die verhouding tussen organisasies en MIV/VIGS. Data is ingewin deur middel van gestruktureerde vraelyste en ongestruktureerde onderhoude. Onderhoude is met beide bestuurslui en verteenwoordigers van werkers gevoer, en gestruktureerde vrae met die werkers. Die vrae gestel was oop vrae soos “Is MIV/VIGS `n problem vir u onderneming huidiglik of in die toekoms? En “Indien MIV/VIGS ‘n negatiewe impak het op die onderming se prestasie sal jy optree en waarom?” Die navorsingsgroep het bestaan uit vier ondernemings in die kleinhandels-, dienslewerings-, en vervaardigingssektor. Die deelnemers is gekies op die basis van inklusiwiteit met die volgende criteria: Die getal werkers in diens. Hoe lank is onderneming in besigheid? Die bereidwilligheid om inligting te deel. `n Kwalitatiewe metode van data analise is gebruik wat breedvoerig verduidelik en beskryf word. Die navorsingsmetode kyk veral na subjektiewe betekenisse, omskrywings, metafore, simbole en omskrywings van spesifieke gevalle. Navorsing het getoon dat MIV/VIGS ‘n impak het op ondernemings se finansiële omstandighede en produktiwiteit. Terwyl die debat oor goedkoper generiese anti-retrovirale middele aan die gang is, word ondernemings of besighede konfronteer met die keuse tussen beduidende investering om die arbeidsmag gesond en lewendig te hou of die hoë koste van herindiensneming, heropleiding en insentiewe.

Problem Statement: The business of property finance has not been properly documented in South Africa. Available resource material focuses on the perspective of the property developer and investor largely neglecting the business of property finance. Thus comprehensive information on this business was not available to students and researchers This study set out to correct this deficiency. Research Procedure: Key property finance personnel in the major banks in the Republic of South Africa were interviewed to establish how the business of property finance is conducted. Jointly the interviewees represent 77% by volume of business over a period of two years A parallel process of literature research was undertaken to compliment the interview research and provide technical depth to the findings. Findings: The empirical and literature research results were combined to comprehensively document the processes, structures, systems, products / Business Management / M. Com. (Business Management)

Submitted in fulfillment of the requirements of Master of Technology: Cost and Management Accounting, Durban University of Technology, 2011. / As a result of current business trends, South African companies are being forced to examine changes in the finance function. The purpose of this research is to establish and examine the paradigm shift in the finance functions of selected South African companies in KwaZulu-Natal, and to develop a measuring tool to determine the degree to which these functions are evolving to be more in line with a value adding paradigm. A mixed methods approach was used in this study, with qualitative analysis supported by some quantitative analysis. A case study approach was adopted, and non-probability sampling using the purposive method was applied to select eleven respondents. The data was gathered by means of both a questionnaire and follow up interviews. The data has been analysed using a combination of both descriptive and inferential statistics, and qualitative analysis. It was found that the majority of respondents were not measuring the cost of, nor were they focused on reducing the resources allocated to the finance function. In addition, the major portion of finance function resources remain focused on the accounting processing roles of the finance function. However, an increasing emphasis on the decision support and strategy formulation roles was discovered. A measuring tool was developed and applied to the finance functions of respondents. This brought the researcher to the conclusion that the finance functions of respondents could not be confirmed as value adding business units. It was recommended that finance function resources be mapped according to the various roles identified. The measuring tool could then be applied to reveal potential areas of change that would result in the finance function transforming into a value adding business unit. Future research into an appropriate finance function performance measurement system, and the impact on the training of accountants of the changing finance function paradigm, was identified.

Thesis (MScAgric)--Stellenbosch University, 1969. / ENGLISH ABSTRACT: no abstract available / AFRIKAANSE OPSOMMING: geen opsomming