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1
Matiza, Tafadzwa, and Sandra Perks. "Human Capital Reputation as an Antecedent of Foreign Direct Investment Market Entry in Zimbabwe." Journal of Economics and Behavioral Studies 9, no. 5 (October 21, 2017): 185–99. http://dx.doi.org/10.22610/jebs.v9i5.1922.
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This paper examines the influence that the reputation of Zimbabwe’s human capital has as an antecedent of FDI market entry opportunities in the country. By synthesizing nation branding, behavioural finance and foreign direct investment theory, this paper contributes to the growing body of knowledge in human capital as a determinant influencing foreign investor behaviour within an African economic context. Empirical data was generated from a self-administered online survey of a purposively sampled population of 305 foreign investors within the Zimbabwean context. Exploratory factor analysis extracted the items that constituted the Zimbabwean human capital construct, with Cronbach’s alpha coefficients being utilized to measure the reliability of the measuring instrument. Descriptive statistics, Pearson product-moment coefficients and multiple regression analysis were employed to further analyze the data. The results revealed that foreign investors considered the availability of a sustainable, highly productive, skilled, retainable and inexpensive workforce, as the influential human capital attributes they considered for FDI to Zimbabwe. The empirical evidence further affirmed that the reputation of Zimbabwe’s human capital is an antecedent for resource- and efficiency-seeking FDI typologies to Zimbabwe. As a result, practical guidelines are provided for the Government of Zimbabwe and the Zimbabwe Investment Authority on the potential development and promotion of Zimbabwe’s human capital for the purpose of positively influencing investor behaviour, thereby attracting FDI to the country.
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Pandey, I. M., and S. Ramnarayan. "Agricultural Finance Corporation, Zimbabwe." Vikalpa: The Journal for Decision Makers 19, no. 2 (April 1994): 47–62. http://dx.doi.org/10.1177/0256090919940206.
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The case by IM Pandey and S Ramnarayan published in this issue throws up the following issues for discussion. First, what are the major changes in the environment of AFC and what are the major elements of AFC's strategy to meet the demands of the new environment? Second, how should AFC be organized to perform a developmental role? What skills, work methods, and culture should it develop? Third, what should be the programme for human resource development and financial policy to fulfil the organization's mission and objectives? Readers are invited to send their views on the case to Vikalpa office.
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Nhapi, Tatenda Goodman. "Socioeconomic Barriers to Universal Health Coverage in Zimbabwe: Present Issues and Pathways Toward Progress." Journal of Developing Societies 35, no. 1 (March 2019): 153–74. http://dx.doi.org/10.1177/0169796x19826762.
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This article assesses Zimbabwean health services, using a social workers’ social development paradigm to analyze the dynamics of Zimbabwe’s Social Security program, focusing on universal health access for older persons, orphans, and vulnerable children. This article identifies the key factors that have done the most to shape health policy administration in the broader context of social policies and social security in Zimbabwe. The discussion is framed around the need for pro-poor social policies, social inclusivity, and the efforts to ensure universal health access. Despite numerous reports, newspaper op-eds and consultancy documents offering opinions on the state of social service delivery in the country, most critics lack empirical data and end up being very anecdotal as they critique the present system. The socioeconomic context of Zimbabwe is therefore analyzed here, with the best available statistical evidence provided, followed by assessment of social policy interventions. Current challenges to access health services are evaluated using a human rights-based social policy approach. The recent Zimbabwe Ministry of Finance-led consultative process crafted a 2016 document, the Poverty Reduction Strategies Papers (PRSPs), as an overall strategy for transforming the Zimbabwean health sector. The article concludes by recommending community-based health insurance approach as most appropriate intervention for ensuring health inclusivity and enhancing health for all in Zimbabwe.
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Mpofu, Raphael Tabani. "Dollarization and economic development in Zimbabwe: An interrupted time-series analysis." Risk Governance and Control: Financial Markets and Institutions 5, no. 4 (2015): 38–48. http://dx.doi.org/10.22495/rgcv5i4art4.
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This paper examines the impact of dollarization on the performance of the Zimbabwean economy from 2003 to 2014 using an interrupted time-series analysis. In Zimbabwe’s case, dollarization was the official replacement of the Zimbabwean dollar with the U.S. dollar. Rapid dollarization in the economy was accelerated by the exogenous shock caused by the injection of cash dollars into the Zimbabwean economy, mostly from international transfers. Since the official adoption of dollarization, Zimbabwe is largely a cash-based economy, with a huge amount of U.S. dollars that are in circulation outside the banking system. A hands-off approach to currency management has served Zimbabwe well since 2009, but a number of risks are beginning to emerge as the economy has slowly regenerated itself and the need for large capital injections has increased. Macroeconomic data obtained from the World Bank and from the Reserve Bank of Zimbabwe’s Monthly Economic Review is analysed. According to the tests conducted, it was found that dollarization did introduce some macroeconomic stability in Zimbabwe although a few key macroeconomic variables showed a sustained improvement. Statistical analysis shows that increased dollarization had positively affected reversed the spiralling effects of hyperinflation that were prevalent prior to 2009, although inflationary pressures still continued, albeit at a slower pace. This research has implications not just for Zimbabwean policy makers as they grapple with decisions pertaining to re-adoption of a local currency and/or the continuation of the use of the US dollar and/or the adoption of a regional currency, for example, the South African rand. The African Union and specifically, the Southern Africa Development Community should look at these policy issues very closely in order to provide policy direction to its member states.
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Mutambara, Emmanuel, and Andrias Chinyoka. "The budgetary process for effective performance of universities in a resource stricken economy: a conceptual framework." Public and Municipal Finance 5, no. 3 (December 12, 2016): 32–38. http://dx.doi.org/10.21511/pmf.5(3).2016.04.
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Sound budgetary processes form the bedrock of public expenditure in public institutions. This article proposes a conceptual budgetary framework for public universities in Zimbabwe. Zimbabwe’s public universities have been under fiscal stress due to the country’s harsh economic environment for close to three decades without any sign of improvement to the extent that there is a need to rethink the public university’s budgetary processes. To achieve this, the article draws from the early open systems theory by Ludwig von Bertanlanffy (1956), as revised by Gibran and Sekwat’s (2009). The basis of drawing from the system theory is that public universities ought to operate as a system if they are to remain sustainable amidst harsh persistent economic environment. The article peruses the intricacies of the current Zimbabwean legislative framework on public expenditure, the relevant Ministry of Finance statutes, as well as the standing budgetary process for public universities, giving birth to the proposed conceptual framework. By perusing various statutes on public expenditure, the article responds to the fundamental budgetary concerns of financial planning, forecasting, efficiency, transparency and accountability in harsh economic environment within the context of Zimbabwe’s public universities. The proposed framework, if adopted, could address or minimize the budgetary challenges facing public universities in Zimbabwe. It concludes by illustrating the operationalization of the proposed budgetary framework. Keywords: budgetary process, public expenditure, public university, economic environment, ministry of finance, legislative framework. JEL Classification: G31, H51, F64
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Makoni, Patricia Lindelwa, and Lindiwe Ngcobo. "Finance and firm characteristics in Zimbabwe." Corporate Ownership and Control 11, no. 2 (2014): 465–72. http://dx.doi.org/10.22495/cocv11i2c5p3.
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The purpose of this study was to examine the impact of firm-specific characteristics on the accessibility of firm financing in Zimbabwe using 2011 data from World Bank enterprise surveys. The results of the study show that firm characteristics in Zimbabwe determine the type of financing that is used for investment and working capital purposes. Small firms seem to rely more on internal financing as opposed to using bank funds, probably due to their small operations and lack of assets to put up as collateral. The larger firms however find it easier to access bank finance as they are much older in terms of age, have developed good relations with their financial services’ providers and are also able to provide the required collateral to back their lines of credit. Both domestic and foreign-owned firms highlighted financial constraints as a major obstacle to their businesses. However foreign firms seemed to access bank loans easier than domestic firms. Also, gender seems to play a minor role in the financing decisions of the firm. It is therefore recommended that the Government engages the financial market intermediaries to find feasible business financing solutions for all sized firms, especially those owned by locals. This would lead to the much-needed economic growth through investment attraction and employment creation.
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Chitimira, Howard, and Elfas Torerai. "The Nexus between Mobile Money Regulation, Innovative Technology and the Promotion of Financial Inclusion in Zimbabwe." Potchefstroom Electronic Law Journal 24 (June 29, 2021): 1–33. http://dx.doi.org/10.17159/1727-3781/2021/v24i0a10739.
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The advent of mobile money innovations has given people in rural areas, informal settlements and other poor communities an opportunity to participate in Zimbabwe's mainstream financial economy. However, the technology-driven money services have presented some challenges to the traditional banking sector in general and the regulation of financial services in particular. Firstly, most mobile money services are products of telecommunication corporations, which are not banks. Telecommunication companies use their network reach to provide mobile money services via mobile devices at a cheaper cost than banks across the country in Zimbabwe. As such, banks face unprecedented competition from telecommunications companies that are venturing into financial services. It also appears that prudential regulation of banks cannot keep up with the fast pace at which technological innovations are developing and this has created a disjuncture between the regulation and the use of technological innovations to promote financial inclusion in Zimbabwe. The Banking Act [Chapter 24:20] 9 of 1999, the Reserve Bank of Zimbabwe Act [Chapter 22:15] 5 of 1999 and the National Payment Systems Act [Chapter 24:23] 21 of 2001 have a limited scope in terms of the regulation of mobile money services in Zimbabwe. The Ministry of Finance and Economic Development launched the National Financial Inclusion Strategy (NFIS) 2016-2020 to provide impetus to the financial inclusion of the poor, unbanked and low-income earners in Zimbabwe. However, the NFIS appears to push more for bank-led financial inclusion than it does for innovation-driven initiatives such as mobile money services. This article highlights the positive influence of mobile money services in improving financial inclusion for the poor, unbanked and low-income earners in Zimbabwe. The article also seeks to point out gaps and flaws in the financial services regulatory framework that may limit the potential of mobile money services to reach more people so that they actively participate in the Zimbabwean economy. It is submitted that the Zimbabwean mobile money services regulations and the financial regulatory framework should be carefully amended in line with the recent innovations in mobile money to adequately regulate the use of mobile money services and innovative technology to address the financial exclusion of the poor, unbanked and low-income earners in Zimbabwe.
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Barugahara, Florence. "Financial Inclusion in Zimbabwe: Determinants, Challenges, and Opportunities." International Journal of Financial Research 12, no. 3 (February 4, 2021): 261. http://dx.doi.org/10.5430/ijfr.v12n3p261.
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Financial inclusion is a highly topical issue for policymakers since inclusive finance is viewed as a channel of social and economic development. Therefore, this paper seeks to ascertain and examine the determinants, challenges, and opportunities for financial inclusion in Zimbabwe. The research is done by examining existing literature and estimating Logit and Probit models. This paper finds that, the major determinants of financial inclusion in Zimbabwe are; gender, age, education, income levels, employment status, the cost of financial services, account opening requirements, and level of trust in the financial system. Challenges to financial inclusion in Zimbabwe include; financial illiteracy, lack of formal identification documents, lack of trust in the financial system, fragile economy, rural poor and gender inequality, and high transaction costs of financial services. However, mobile money services such as Eco-cash, Tel-cash, and One-money have proved an opportunity for inclusive finance in Zimbabwe. Furthermore, the establishment of the women’s Bank of Zimbabwe is one of the strategies to enhance inclusive finance for women in Zimbabwe. The simplified KYC requirements for low-income groups and the financial inclusion strategy commissioned by the Reserve Bank of Zimbabwe are hoped to promote financial inclusion. This paper recommended that to make finance inclusive, the government should develop policies that target marginalized groups such as the elderly, rural population, low-income earners, females, and the unemployed. The government should also develop a strong consumer protection regulatory framework, promote financial literacy, reduce the transaction cost of financial services and encourage the use of accounts with simplified KYC requirements to ease documentation needs.
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Krawczyk, Weronika. "Aid, Governance and Public Finance Fraud: Evidence from Zimbabwe." Gospodarka Narodowa 299, no. 3 (September 30, 2019): 119–44. http://dx.doi.org/10.33119/gn/111468.
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Kapesa, Tonderai, Gift Mugano, and Houdini Fourie. "Financing public infrastructure in Zimbabwe: Current trends and future alternatives." Public and Municipal Finance 10, no. 1 (September 3, 2021): 82–93. http://dx.doi.org/10.21511/pmf.10(1).2021.07.
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Zimbabwe requires USD2 billion annually until 2032 for financing economic infrastructure. However, the Government of Zimbabwe currently affords about 20% of this financing requirement leaving an 80% gap. The aim of the study was to establish the main sources of finance for economic public infrastructure and recommend alternative financing sources to supplement the current sources. The qualitative descriptive study collected primary data through 23 interviews conducted with officials from ministries of the Government of Zimbabwe, government departments and parastatal enterprises. Secondary data was obtained from documentary analysis. The study revealed bilateral loans from the China Exim Bank as the main source of finance for economic infrastructure, contributing USD2.1 billion whilst budget appropriations from the Government of Zimbabwe contributed USD1 billion during the 10-year period under study. Infrastructure finance was also obtained from development partners (USD200 million) and commercial and multilateral lenders (USD400 million). The study recommends developing a framework that promotes and protects private sector and/or innovative financiers of infrastructure through policy stability.
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Bote, David, Stephen Mago, and Costa Hofisi. "Innovative Rural Financing In Zimbabwe: A Case Of Cattle Banking." International Business & Economics Research Journal (IBER) 13, no. 4 (June 30, 2014): 815. http://dx.doi.org/10.19030/iber.v13i4.8689.
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This study breaks new ground by looking at an innovative financial approach of livestock banking vis--vis rural finance. The purpose of this paper is to evaluate the validity and feasibility of cattle banking as an alternative innovative financing strategy in Africa with specific reference to Zimbabwe. Cattle banking has entered the debate on innovative financing for rural areas. In Zimbabwe, TN Bank (now Steward Bank) has taken the bull by the horns through introducing the new strategy to farmers who are mostly rural. Cattle are very important assets in the rural areas despite the challenge of climate change and global warming that have direct negative effects on pastures. This is an exploratory paper that relies on extensive literature relating to cattle banking. The authors find that cattle banking has the potential to assist farmers to open bank accounts using cattle, thus encouraging them to save their assets. Moreover cattle banking promotes asset-building among farmers. Many farmers in the rural areas of Zimbabwe do not have bank accounts because of what they experienced during Zimbabwes lost decade (2000-2010) when bankers lost millions of dollars to the hyperinflation. This paper recommends that cattle banking should be developed as it has the potential to uplift the livelihoods of rural farmers. It is also seen as an innovative strategy to overcome rural finance challenges.
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Tshehla, M. F., and E. Mukudu. "Addressing Constraints for Effective Project Finance for Infrastructure Projects in Emerging Economies – the Case of Zimbabwe." Journal of Construction Business and Management 4, no. 1 (April 27, 2020): 48–59. http://dx.doi.org/10.15641/jcbm.4.1.806.
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The infrastructure deficit in developing countries is vast and current developmental initiatives fail to meet the requirements. There is a need for housing, clean water, sewerage facilities, transport and telecommunications infrastructure. The development of infrastructure requires large amounts of funding, which could be a project or non-recourse finance. The levels of project finance allocated to developing countries are much smaller compared to the developed world. The purpose of this paper is to determine the critical success factors for accessing project finance for infrastructure development in a developing country, Zimbabwe. This study employed the quantitative approach using a survey questionnaire to address various aspects that are important when lenders advance project finance. The questionnaire was distributed to participating organizations comprised of lenders, borrowers and investors with the higher numbers being borrowers. These organizations include banks in Zimbabwe that offer project finance for infrastructure, Pension funds which invest in infrastructure, Multilateral agencies operating in Zimbabwe, and Municipalities of major cities in Zimbabwe. The interrater reliability of the individual factors was calculated. Also, the aggregate interrater reliability for the different attributes was determined using Cronbach's alpha value. A total of 33 factors under five attributes were identified: governmental, financing, project, special purpose vehicle, and politics and economics were identified as being critical for accessing project finance. These factors were ranked according to their significance index or importance. Only 12 factors were considered as extremely important as critical success factors for project financing in Zimbabwe. The contribution of this study is to provide government, project finance agencies, private sector and other stakeholders interested in infrastructure projects with a list of the most important critical success factors for infrastructure projects in a developing country.
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Kurebwa, Jeffrey. "Implications of Illicit Financial Flows on Zimbabwe's Development." International Journal of World Policy and Development Studies, no. 72 (June 18, 2021): 27–34. http://dx.doi.org/10.32861/ijwpds.72.27.34.
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Illicit Financial Flows (IFFs) is a major challenge to Zimbabwe's development. They have a direct impact on the country’s stability to raise, retain and mobilize its own resources to finance sustainable economic development. The study finds that Zimbabwe lost over US$32.179 billion during the period 2000 to 2020. The study relies on normative and legal arguments to justify the effects of illicit financial flows. The problems with IFFs are that they are not only illicit but that their effect spreads far beyond their immediate area of occurrence. Zimbabwe has suffered irreparable damage because of illicit financial flows. IFFs are mainly driven by the desire to hide wealth and to evade taxes; perpetrators clearly do not respect the obligations of citizenship. Financial flows are crucial for poor countries and have played an important role in Zimbabwe. Since not all financial flows are good for development, the integration of poor countries into the global financial system poses opportunities as well as risks.
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Chirisa, Innocent, Trynos Gumbo, Veronica N. Gundu-Jakarasi, Washington Zhakata, Thomas Karakadzai, Romeo Dipura, and Thembani Moyo. "Interrogating Climate Adaptation Financing in Zimbabwe: Proposed Direction." Sustainability 13, no. 12 (June 8, 2021): 6517. http://dx.doi.org/10.3390/su13126517.
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Reducing vulnerability to climate change and enhancing the long-term coping capacities of rural or urban settlements to negative climate change impacts have become urgent issues in developing countries. Developing countries do not have the means to cope with climate hazards and their economies are highly dependent on climate-sensitive sectors such as agriculture, water, and coastal zones. Like most countries in Southern Africa, Zimbabwe suffers from climate-induced disasters. Therefore, this study maps critical aspects required for setting up a strong financial foundation for sustainable climate adaptation in Zimbabwe. It discusses the frameworks required for sustainable climate adaptation finance and suggests the direction for success in leveraging global climate financing towards building a low-carbon and climate-resilient Zimbabwe. The study involved a document review and analysis and stakeholder consultation methodological approach. The findings revealed that Zimbabwe has been significantly dependent on global finance mechanisms to mitigate the effects of climate change as its domestic finance mechanisms have not been fully explored. Results revealed the importance of partnership models between the state, individuals, civil society organisations, and agencies. Local financing institutions such as the Infrastructure Development Bank of Zimbabwe (IDBZ) have been set up. This operates a Climate Finance Facility (GFF), providing a domestic financial resource base. A climate change bill is also under formulation through government efforts. However, numerous barriers limit the adoption of adaptation practices, services, and technologies at the scale required. The absence of finance increases the vulnerability of local settlements (rural or urban) to extreme weather events leading to loss of life and property and compromised adaptive capacity. Therefore, the study recommends an adaptation financing framework aligned to different sectoral policies that can leverage diverse opportunities such as blended climate financing. The framework must foster synergies for improved impact and implementation of climate change adaptation initiatives for the country.
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Mago, Stephen. "Microfinance, Poverty Alleviation and Sustainability: Towards a New Micro-Finance Model for Zimbabwe." Journal of Economics and Behavioral Studies 6, no. 7 (July 30, 2014): 551–60. http://dx.doi.org/10.22610/jebs.v6i7.516.
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The main aim of this paper is to propose the development of a new microfinance model that can approximate sustainability in Zimbabwe. The secondary purpose is to find out whether the same model can be replicated in other developing countries. The paper adopted a mixed methodology. A crosssectional data collection method was preferred because data was collected during the time of high volatility in the country. Questionnaires, interview schedules were combined to collect data from villagers involved in microfinance programmes. Data were collected from 250 households in the Masvingo rural district area of Zimbabwe. The findings show that the two polar models are biased, hence the need for the ‘middle of the road approach’/‘hybrid model’ for the provision of microfinance services to the poor in order to achieve the twin objectives of poverty alleviation and sustainability. The paper is limited to a Masvingo district of Zimbabwe, thus replication could become a challenge. This article attempts to develop a ‘middle of the road’ model for microfinance in Zimbabwe. According to our knowledge, there is no study that has attempted to do the same.
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Rakodi, Carole. "Housing finance for lower income urban households in Zimbabwe." Housing Studies 10, no. 2 (April 1995): 199–227. http://dx.doi.org/10.1080/02673039508720817.
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Dendere, Chipo. "Financing political parties in Africa: the case of Zimbabwe." Journal of Modern African Studies 59, no. 3 (August 26, 2021): 295–317. http://dx.doi.org/10.1017/s0022278x21000148.
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AbstractWhat is the impact of access to political party finance – money that parties use to fund their campaign activities – on politics in Africa? While multiparty elections have become more regular in the developing world, many opposition parties are still failing to win elections. This paper argues that poor access to political finance weakens democratic consolidation and negatively impacts the participation of less-resourced candidates who are unable to self-fund. As a result, opposition parties are forced to rely on weak promises of aid from international donors and unreliable state funding. This in-depth analysis of political finance, based on extensive interviews with politicians and government officials in Zimbabwe, political documents, news reports and a review of court cases, reveals that uneven financing has weakened opposition parties and serves as an extra advantage for incumbents.
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Kurebwa, Jeffrey. "Micro-finance as a Tool for Financial Access, Poverty Alleviation and Women Empowerment in Bindura District, Zimbabwe." Studies in Social Science Research 1, no. 1 (May 9, 2020): p21. http://dx.doi.org/10.22158/sssr.v1n1p21.
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The purpose of this study was to understand the role of micro-finance as a tool for women empowerment in Bindura Rural District of Zimbabwe. Qualitative methodology was used. Data collection methods used included semi-structured interviews, documentary search. The respondents for the study were drawn from rural women who had accessed loans from MFI, managers of MFI and the Zimbabwe Association of Micro Finance Institutions. The study found out that access to credit has positive outcomes on production, income, and consumption at household and macro-economic levels. Rural women in Zimbabwe lack adequate access to formal credit. The study found that that lack of adequate access to credit have significant negative effect on technology adoption, agricultural productivity, food security, nutrition, health, and overall welfare. The study concludes that the lack of collateral of the poor, their demand for smaller loans, and high transaction cost associated with small loans are the main factors that the poor are excluded from formal credit services.
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Mutandwa, Hudson, and Tawanda Zinyama. "An Analysis of the Potential Use of Public-Private Partnerships in Water Infrastructural Development in Zimbabwe: The Case of Harare City Council." Journal of Public Administration and Governance 5, no. 1 (April 1, 2015): 110. http://dx.doi.org/10.5296/jpag.v5i1.7366.
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The study was carried out to analyse the potential use of Public Private Partnerships (PPPs) in water infrastructural development in Harare City Council, Zimbabwe. PPPs play a pivotal role in water infrastructural development if fully implemented. Zimbabwe’s rate of uptake is low. There are preconditions that are necessary for successful implementation of PPPs inter alia political will (commitment) legal, institutional and political frameworks. Key informant interviews and documentary search were employed to gather data. The study established that Zimbabwe does not have the preconditions necessary for successful implementation of PPPs and this confirms the thesis. The main challenges include lack of legal and institutional framework, lack of political will, unconducive socio-economic environment. Zimbabwe’s water infrastructure is ramshackle. This is compounded by lack of fiscal space on the part of government to rehabilitate the infrastructure. PPPs could be a viable alternative to infrastructural development with the right environmental conditions. The study recommends that the government should quickly enact a PPP legal framework that enables the establishment of a PPP unit within the Ministry of Finance and this should be followed by an Act of Parliament which should institutionalize PPPs. The Government should promote a conducive investment climate.
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MURISA, TENDAI, and TENDAI CHIKWECHE. "ENTREPREUNERSHIP AND MICRO-FINANCE IN EXTREME POVERTY CIRCUMSTANCES — CHALLENGES AND PROSPECTS: THE CASE OF ZIMBABWE." Journal of Developmental Entrepreneurship 18, no. 01 (March 2013): 1350001. http://dx.doi.org/10.1142/s1084946713500015.
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Using an on-going real case study of a micro-finance project modeled on financial inclusion in Zimbabwe, a country with high levels of poverty, we provide real time insights on entrepreneurship and micro-finance in this environment focusing on the nature of challenges faced by entrepreneurs and potential solutions to these challenges. While acknowledging this is a research stream that has dominated micro-finance, our study extends the scope of research beyond Asia and Latin America to include insights from an African market where micro-finance has recorded significant growth yet very few stories are told about these experiences. Our case study provides an opportunity to reflect on emerging and previously held insights in real time using a project that is still in the process of dealing with these challenges. We then go onto illustrate how our inclusive approach to serving the unbanked segment in Zimbabwe has potential for broader contribution to poverty reduction among citizens who are exposed to extreme conditions of poverty. Our paper also outlines an alternative approach of solutions to the challenges faced by micro-finance entrepreneurs, which could be applied by entrepreneurs in environments facing similar challenges.
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Hatchard, John. "Funding Political Parties: The Political Parties (Finance) Act, 1992 (Zimbabwe)." Journal of African Law 37, no. 1 (1993): 101–3. http://dx.doi.org/10.1017/s0021855300011177.
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Maposa, Lifa, and Yvonne Munanga. "Public-Private Partnerships Development Finance Model in Zimbabwe Infrastructure Projects." OALib 08, no. 04 (2021): 1–24. http://dx.doi.org/10.4236/oalib.1104211.
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Bara, Alex, and Calvin Mudzingiri. "Financial innovation and economic growth: evidence from Zimbabwe." Investment Management and Financial Innovations 13, no. 2 (June 3, 2016): 65–75. http://dx.doi.org/10.21511/imfi.13(2).2016.07.
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The role of financial innovation on economic growth in developing countries has not been actively pursued. Stemming from the finance-growth nexus, literature suggests that financial innovation has a relationship to growth, which could be either positive or negative. Implicitly, financial innovation has a good and a dark side that affects growth. This study establishes the causal relationship between financial innovation and economic growth in Zimbabwe empirically. Using the Autoregressive Distributed Lag (ARDL) bounds tests and Granger causality tests on financial time series data of Zimbabwe for the period 1980-2013, the study finds that financial innovation has a relationship to economic growth that varies depending on the variable used to measure financial innovation. A long-run, growth-driven financial innovationis confirmed, with causality running from economic growth to financial innovation. Bi-directional causality also exists after conditionally netting-off financial development. Policies that enhance economic growth inter-twined with financial innovation are essential, if developing countries, such as Zimbabwe, aim to maximize economic development
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Chigora, Farai, and Promise Zvavahera. "Realigning Value Chain Concept towards Destination Branding: Zimbabwe Tourism Destination Reality." Business and Management Horizons 3, no. 2 (November 9, 2015): 34. http://dx.doi.org/10.5296/bmh.v3i2.8544.
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The study analysed the value chain model that was used to analyse the sustainable competitive advantage of manufacturing businesses by Porter in 1985. The processes of the model which are both primary and secondary variables were matched and compared to the tourism destination processes. This was done in order to design a specific value chain model that can be used by a tourism destination so as to improve brand equity. The study therefore analysed Zimbabwe as a tourism destination which needs to improve its brand equity through an effective tourism value chain. The study used a sequential mixed method in order to establish data from respondents. It started with a qualitative design whereby by Zimbabwe tourism destination processes were established through in-depth interviews from various experts in the industry. The identified variables were local people, natural resources and destination marketers. Also the respondents agreed that the secondary factors for a Zimbabwe tourism destination value chain include finance, skilled human resources, infrastructure, sustainable practices and global partnerships. The relationship of Zimbabwe tourism destination variables to Porter’s primary value chain activities were identified through a quantitative design using survey questionnaires. The results of the study showed that the inbound logistics is related to local people, operations to natural resources and outbound logistics to destination marketers. The study recommended a value chain model specifically for tourism destinations that comprise of local people, natural resources and destination marketers as the primary activities. An effective mix of the tourism primary factors and secondary factors (finance, infrastructure, skilled human resources, sustainable practices and global partners) will lead to improved brand equity for the Zimbabwe tourism destination.
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Keetch, Paul. "Zimbabwe." Public Policy Research 14, no. 2 (June 2007): 146–50. http://dx.doi.org/10.1111/j.1744-540x.2007.00478.x.
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Mazorodze, Brian Tavonga. "Re-visiting the External Debt-Economic Growth Question in Zimbabwe." Journal of Economics and Behavioral Studies 12, no. 2(J) (May 22, 2020): 1–8. http://dx.doi.org/10.22610/jebs.v12i2(j).2939.
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This paper quantifies the threshold effect of external debt on economic growth in Zimbabwe between 1980 and 2016. Results from the Fully Modified Ordinary Least Squares (FMOLS) technique confirm that external debt (up to 57% of GDP) raises economic growth. Beyond the 57% of GDP threshold, external debt lowers growth. A separate analysis of variance shows that the mean GDP per capita is lower by 11% when external debt exceeds 57%. From the sample average, the 57% of GDP threshold suggests that debt stock above 4.7 billion USD can be detrimental to the country’s long-run growth prospects. Currently, Zimbabwe’s external debt is standing at over 11 billion USD which is way above the estimated threshold level. Therefore, the policy implication arising from this paper is that the country’s Finance Minister needs to pursue debt-reduction strategies given that the country’s stock of external debt is already sitting in the growth-reducing territory.
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Kaseke, Nyasha, and Gift Mapakame. "Assessing Funding Mechanism Available for Mining Companies in Zimbabwe." Journal of Economics and Behavioral Studies 13, no. 1(J) (March 31, 2021): 57–68. http://dx.doi.org/10.22610/jebs.v13i1(j).3107.
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The mining sector has been the cornerstone of economic growth in Zimbabwe hence funding becomes very crucial to resuscitate the economy. The study aimed to assess the funding mechanisms for the mining sector of Zimbabwe and the effect of these on the performance of the sector. A quantitative study was carried out in the mining sector. The research findings showed that respondents pointed out that the funding mechanisms used in the mining sector of Zimbabwe are project finance, finance by private equity, public bonds and loans from banks and other financial institutions. It was also revealed that over and above available mechanisms, investment in the mining sector is being influenced by Interest rate, Business economic empowerment policies, bank lending criteria and Technical information, simultaneously. Furthermore, the study established that the mining sector needs skilled and technical staff, Technical information, banks’ lending criteria and Capital markets to get funding from investors. It was derived that, investment in the mining sector will increase production, product quality and profitability which in turn lead to infrastructural development. In addition, it is envisaged that funding will result in mining exports increase at the same time that new technologies are being introduced and the GDP is rising. Owing to the focus being exclusively on the funding of the mining sector, the study also recommended further studies on other factors, besides funding, that are affecting the performance of the sector.
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Mudhunguyo, Chathebert. "A review of Zimbabwe’s macro-fiscal forecasts." African Journal of Economic and Management Studies 8, no. 4 (December 4, 2017): 433–40. http://dx.doi.org/10.1108/ajems-03-2017-0060.
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Purpose The purpose of this paper is to evaluate accuracy of macro fiscal forecasts done by Government of Zimbabwe and the spillover effects of forecasting errors over the period 2010-2015. Design/methodology/approach In line with the study objectives, the study employed the root mean square error methodology to measure the accuracy of macro fiscal forecasts, borrowing from the work of Calitz et al. (2013). The spillover effects were assessed through running simple regression in Eviews programme. The data used in the analysis are based on annual national budget forecasts presented to the Parliament by the Minister of Finance. Actual data come from the Ministry of Finance budget outturns and Zimbabwe Statistical Agency published national accounts. Findings The results of the root mean square error revealed relatively high levels of macro-fiscal forecasting errors, with revenue recording the highest. The forecasting errors display a tendency of under predicting the strength of economic recovery during boom and over predicting its strength during periods of weakness. The study although found significant evidence of GDP forecasting errors translating into revenue forecasting inaccuracies, the GDP forecasting errors fail to fully account for the revenue errors. Revenue errors were, however, found to be positive and significant in explaining the budget balance errors. Originality/value In other jurisdictions, particularly developed countries, they undertake regular evaluation of their forecasts in order to improve their forecasting procedures, which translate into quality public service delivery. The situation is lagging in Zimbabwe. Given the poor performance in public service delivery in Zimbabwe, this study contributes in dissecting the sources of the challenge by providing a comprehensive review of macro fiscal forecasts.
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Mago, Stephen, and Costa Hofisi. "Microfinance as a pathway for smallholder farming in Zimbabwe." Environmental Economics 7, no. 3 (October 21, 2016): 60–66. http://dx.doi.org/10.21511/ee.07(3).2016.07.
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Microfinance has been viewed as a pathway for smallholder farming. This paper aims to investigate the impact of microfinance on smallholder farming. It examines the role of microfinance in the development of smallholder farming. This paper employs the integrated view of microfinance study as opposed to the ‘credit only’(minimalist) view. Using qualitative research methodology, the paper relies on literature review and primary data. Household level data (primary) were collected from a rural district (Masvingo Rural District) of Masvingo province in Zimbabwe. Data were collected from 250 microfinance participants (household heads) using questionnaires and face-to-face interviews. The findings show that microfinance had positive effects on accumulation of agricultural assets, income from agriculture, agricultural education, agricultural productivity, agri-business, consumption and health. However, the impact is limited due to lack of finance. Basic financial services are essential for the management of their smallholder farming activities. The practical implications are that the study results could be used by the government and development agencies for policy making. The paper recommends that microfinance should be harnessed as a useful intervention that can be employed to economically empower the smallholder rural agricultural sector. Keywords: microfinance, smallholder farming, integrated view, minimalist view. JEL Classification: G21, O13
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Mlambo, Nyemudzai, and Ivan Govender. "Monitoring and Evaluation of Housing Service Delivery in Zimbabwean Local Authorities." International Journal of Political Activism and Engagement 8, no. 3 (July 2021): 17–33. http://dx.doi.org/10.4018/ijpae.2021070102.
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This study investigates the effectiveness of monitoring and evaluation systems for housing service delivery in local authorities in the Midlands Province of Zimbabwe. Zimbabwe has been experiencing poor housing service delivery and the Midlands province is characterized by housing backlog, poor quality housing projects, lack of housing finance, lack of technical capacity, and no new partnerships. Despite the Government of Zimbabwe introducing monitoring and evaluation tools in all public institutions to achieve good governance and effective housing service delivery, this did not fully address the housing problems experienced in the province. The research utilized the mixed-methods approach with a case study research design using urban and rural local authorities in the Midlands Province. The article recommended that the three tiers of government should work collaboratively with the aid of a monitoring and evaluation system to solve housing delivery problems. This study is critical for local government housing delivery performance management.
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Сhigudu, Daniel. "Navigating policy implementation Gaps in Africa: The case of Zimbabwe." Risk Governance and Control: Financial Markets and Institutions 5, no. 3 (2015): 7–14. http://dx.doi.org/10.22495/rgcv5i3art1.
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This study reviews policy issues and the efficacy of policy implementation through a content analysis approach. In Africa and Zimbabwe in particular, policies have invariably been formulated to cater for the populace in the post-colonial era in order to address previous socio-economic imbalances. From 1991 to 2015 several policies have been developed as reflected in the Framework for Economic Reform, Zimbabwe Programme for Economic and Social Transformation (ZIMPREST) and Letters of Intent to the International Monetary Fund through to the current Zimbabwe Agenda for Sustainable SocioEconomic Transformation (Zim-Asset) among other blueprints. Findings indicate that policy problems in Zimbabwe are largely due to implementation failure against well thought out intelligible proposals. The paper reveals that implementation gaps reside in the absence of capacity to translate those intelligible proposals into action, poor sequencing of policies, political inaction to account for the failure and lack of resources. This does not appear to be unique to Zimbabwe alone but prevalent in sub-Saharan Africa and many countries across the continent. Alternatives and recommendations are suggested for this phenomenon.
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Ndhlovu, Julius, Lwazi Sibanda, and Joyce Mathwasa. "Influential Factors to Financial Management in Chegutu District Secondary Schools of Mashonaland West Province, Zimbabwe." Randwick International of Education and Linguistics Science Journal 1, no. 3 (December 20, 2020): 330–40. http://dx.doi.org/10.47175/rielsj.v1i3.141.
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The study explored factors that influence financial management in Chegutu District Secondary Schools of Mashonaland West Province, Zimbabwe. The study was stimulated by the serious financial challenges in secondary schools as characterised by failure to follow laid down procedures, disagreements, inadequate training and lack of knowledge by both school heads and SDC members in managing finances. The interpretive paradigm and qualitative approach guided the study. A case study design was adopted and purposively sampled participants constituted five school heads, five School Development Committee chairpersons, five School Development Committee treasurers and five school bursars. Thematically analysed data was collected through semi-structured interviews and document analysis. The findings revealed that manuals and policy circulars influence the way schools formulate their budgets as they give clear steps that should be followed. It also emerged from the study that the school finance committee is responsible for drawing the school budget after consultation with other stakeholders. It was found that training of school heads, School Development Committee members and bursars influence financial management to a larger extent and there is a very strong relationship between financial management training and effectiveness of financial management in secondary schools. The study concluded that good working relationship among stakeholders and lack of knowledge by both school heads and School Development Committee members in managing school finances greatly influence the way they execute their duty of managing school finances. The study recommends further research that explores strategies that can be established for improving the way schools manage finances.
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Wekwete, Kadmiel. "Urban local government finance in Zimbabwe: The case of Harare City Council." Public Administration and Development 12, no. 1 (February 1992): 97–110. http://dx.doi.org/10.1002/pad.4230120108.
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Mutizwa-Mangiza, N. D. "Rural local government finance in Zimbabwe: The case of Gokwe District Council." Public Administration and Development 12, no. 1 (February 1992): 111–22. http://dx.doi.org/10.1002/pad.4230120109.
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Shonhe, Toendepi, Ian Scoones, and Felix Murimbarimba. "Medium-scale commercial agriculture in Zimbabwe: the experience of A2 resettlement farms." Journal of Modern African Studies 58, no. 4 (December 2020): 601–26. http://dx.doi.org/10.1017/s0022278x20000385.
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ABSTRACTThe emergence of medium-scale farms is having important consequences for agricultural commercialisation across Africa. This article examines the role of medium-scale A2 farms allocated following Zimbabwe's land reform after 2000. While the existing literature focuses on changing farm size distributions, this article investigates processes of social differentiation across medium-scale farms, based on qualitative-quantitative studies in two contrasting sites (Mvurwi and Masvingo-Gutu). Diverse processes of accumulation are identified across commercial, aspiring and struggling farmers, and linked to contrasting patterns of agricultural production and sale, asset ownership, employment and finance. The ability to mobilise finance, influenced by the state of the macro-economy, as well as forms of political patronage, is identified as a crucial driver. Contrary to assertions that A2 farms are largely occupied by ‘cronies’ and that they are unproductive and under-utilised, a more differentiated picture emerges, with important implications for policy and the wider politics of Zimbabwe's countryside following land reform.
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Zhou, Gideon. "Three Decades of Public Expenditure Management in Zimbabwe." Journal of Public Administration and Governance 2, no. 3 (July 28, 2012): 33. http://dx.doi.org/10.5296/jpag.v2i3.2098.
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Sound public expenditure management forms the bedrock of public administration. It facilitates producence, efficiency, transparency and accountability in expenditure processes at various levels of government. This serves as a long term barricade aginst debt trap. This article responds to these fundamental concerns by examining the nature, processes and challenges of public expenditure management in Zimbabwe. Reviews of expenditure management systems in Zimbabwe show general consistence with those in Anglophone Africa. Ministries of finance, working closely with spending ministries, Accounting Officers, Public Accounts Committees of Parliament, Auditor Generals and internal auditors-constitute key players in the public expenditure management process. Notwithstanding this, overall expenditure over the decades remained sticky downwards due to inflationary pressures, unbudgeted expenditures and weak expenditure management systems. Robust mesaures should be put in place to institutionalise a culture of compliance with extant expenditure management frameworks at both the macro and micro levels of government.
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Chitimira, Howard, and Pontsho Mokone. "The Pros and Cons for Insider Trading Regulation in Zimbabwe." Law and Financial Markets Review 14, no. 2 (March 17, 2020): 102–9. http://dx.doi.org/10.1080/17521440.2020.1726617.
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Olubukola, Otekunrin Adegbola, Samu Tafadzwa, Sifile Obert, and Matowanyika Kudzanai. "Making Environmental Accounting Work: Case of the Zimbabwe Mining Industry." Universal Journal of Accounting and Finance 9, no. 4 (August 2021): 722–34. http://dx.doi.org/10.13189/ujaf.2021.090418.
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Mpofu, Raphael T. "Macroeconomic variables and food price inflation, nonfood price inflation and overall inflation: A case of an emerging market." Risk Governance and Control: Financial Markets and Institutions 7, no. 2 (2017): 38–48. http://dx.doi.org/10.22495/rgcv7i2art4.
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The paper analyses the association between certain macroeconomic variables and food price inflation, non-food price inflation and overall inflation in Zimbabwe, and also seeks to determine the level of association between these variables, given food security implications and overall well-being of its citizens. The study reveals that during the 2010 to 2016 period, Zimbabwe experienced stable food prices—annual food price inflation for food and non-alcoholic beverages averaged a relatively low growth rate of 0.12% monthly, while non-food inflation monthly growth rate was 0.09% and overall inflation growth rate was 0.11%. Although inflation from 2010 had been declining, of late, the increase in annual inflation has been underpinned by a rise in non-food inflation. Zimbabwe’s annual inflation remains lower than inflation rates in other countries in the region. Despite the increases lately in overall inflation, it remained below zero in January 2016, mostly driven by the depreciation of the South African rand and declining international oil prices. It should also be noted that domestic demand continued to decline in 2015, leading to the observed decline in both food and non-food prices. While food inflation has remained relatively low, it should be noted that non-food expenditures is significant component of the household budget and the rising prices result often lead to declining purchasing power and force households to make difficult choices in terms of their purchases. The findings of the study are food inflation has a low association with the independent variables under study; Zimbabwe broad money supply, rand-dollar exchange rates and the South Africa food inflation. There is, however, a very strong association between non-food inflation and these independent variables, as well as between overall inflation and the independent variables. Given the mostly rural population and the high level of unemployment in Zimbabwe, it can be surmised that the distributional burden of the effects of rising non-food prices between 2009 and 2016 fell mostly on these vulnerable groups as they had the lowest disposable income. In addition, it can also be surmised that domestic production can cushion the impact of rising prices in general, particularly on food. A deliberate policy of increasing domestic food production would therefore go a long way in ensuring lower price changes of both food and non-food items.
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Saungweme, Talknice, and Nicholas M. Odhiambo. "Does Public Debt Service Expenditure Crowd-Out Economic Growth? Empirical Evidence from an African Developing Country." Studia Universitatis Babes-Bolyai Oeconomica 64, no. 3 (December 1, 2019): 23–38. http://dx.doi.org/10.2478/subboec-2019-0013.
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Abstract This paper contributes to the ongoing debate on the impact of public debt service on economic growth; and it provides an evidence-based approach to public policy formulation in Zimbabwe. The empirical analysis was performed by applying the autoregressive distributed lag (ARDL) technique to annual time-series data from 1970 to 2017. The study findings reveal that the impact of public debt service on economic growth in Zimbabwe is negative in the short run but positive in the long run. The results are suggestive of the existence of a crowding-out effect of public debt service in Zimbabwe in the short run and a crowding-in effect in the long run. In view of these findings, the government should consider fiscal and financial policies that promote a constant supply of long-term finance, long-term fixed investments, and extension of a government securities maturity structure so as to ensure sustainable short- and long-term public debt service expenditures. The study further recommends the strengthening of non-distortionary revenue mobilisation reforms to reduce market distortions and boost domestic investment.
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BOND, PATRICK. "GEOPOLITICS, INTERNATIONAL FINANCE AND NATIONAL CAPITAL ACCUMULATION: ZIMBABWE IN THE 1980s AND 1990s." Tijdschrift voor Economische en Sociale Geografie 82, no. 5 (November 1991): 325–37. http://dx.doi.org/10.1111/j.1467-9663.1991.tb00796.x.
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Moore, David. "Marxism and Marxist Intellectuals in Schizophrenic Zimbabwe: How Many Rights for Zimbabwe's Left? A Comment." Historical Materialism 12, no. 4 (2004): 405–25. http://dx.doi.org/10.1163/1569206043505257.
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Z. Mukonoweshuro, Jeskinus, Cleopas Sanangura, and Elias Munapo. "The role of servant leadership and emotional intelligence in managerial performance in a commercial banking sector in Zimbabwe." Banks and Bank Systems 11, no. 3 (October 12, 2016): 94–108. http://dx.doi.org/10.21511/bbs.11(3).2016.10.
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The constructs of servant leadership (SL) and emotional intelligence (EI) have gained considerable interest in the discipline of managerial leadership, both within academic discourse and in the human capital management and development arena. However, empirical evidence showed the need for further research on both constructs using the mixed methods approach. The purpose of this research was to explore the role of an integrated servant leadership and emotional intelligence leadership skills program in enhancing leadership performance in Zimbabwe’s commercial banking sector. A mixed methods research triangulation concurrent design was adopted for the research study conducted from 2014 to 2015. A survey questionnaire was used to collect quantitative data from 211 middle, senior and executive managerial staff in the commercial banking sector. SPSS version 22.0 was used to analyze the quantitative data. Qualitative data were collected from a purposive sample of eight senior to executive managers using a structured interview guide and multimedia recording equipment. The qualitative data were analyzed using NVIVO version 10 software package to create themes. The findings showed that servant leadership and emotional intelligence characteristics complement each other and both constructs can be integrated into a managerial leadership program used to develop leadership soft skills or competencies. The findings also showed that both SL and EI skills had a positive influence in enhancing the managers’ effectiveness in undertaking leadership responsibilities and on leadership qualitative performance measures such as articulating vision and strategy, building and sustaining productive organizational culture, development and retention of talent, enhancing employee engagement, improving stakeholder relationship management, retaining bank customers, promotion of diversity, value creation and community involvement. The study led to the development of an integrated SL and EI soft skills leadership program and model which, if implemented, could lead to leadership skills development and performance enhancement. Keywords: leadership, competencies, servant leadership and emotional intelligence. JEL Classification: E58, G21, M12
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Maguchu, Prosper Simbarashe. "The law is just the law: analysing the definition of corruption in Zimbabwe." Journal of Financial Crime 25, no. 2 (May 8, 2018): 354–61. http://dx.doi.org/10.1108/jfc-06-2017-0055.
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Purpose The purpose of this paper is to highlight the shortfalls of the legal definition of corruption in Zimbabwe. Design/methodology/approach Defining corruption is a universal challenge. Thus, in reviewing Zimbabwes definition, this paper also draws on other common law system jurisdictions based on English traditions and Sharia law to make a comparative analysis. The paper also takes a multi-disciplinary approach that transcend fields of law and anthropology. Findings Although criminal law can be used as the normative basis in the fight against corruption, it can also be used by the powerful to shield themselves from corruption, through its indeterminacy and interpretation. Be this as it may, real and firm law can assist in curbing the vice. Research limitations/implications The paper’s purview is limited both in terms of subject and scope. Although it starts by considering the definition of corruption to get a broad overview of this subject, it mainly focuses on the meaning of two popular concepts that are popularly identified with our understanding of corruption – abuse of power and public office. Originality/value The paper tries to establish a framework for understanding and curbing corruption through the use of statutory law.
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Kwenda, Farai. "Corporate financing strategies employed by Zimbabwean listed firms in the multiple currency era." Risk Governance and Control: Financial Markets and Institutions 5, no. 3 (2015): 161–66. http://dx.doi.org/10.22495/rgcv5i3c2art1.
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The aim of this study is to review the corporate financing strategies employed by Zimbabwean listed firms since the adoption of the multiple currency system which set the country on a recovery path after the decade-long political, social and economic crises. The adoption of the multiple currency system necessitated recapitalization and retooling because most firms’ balance sheets were wiped away during the hyperinflation era. The study is based on secondary data of 80 firms listed on the Zimbabwe Stock Exchange. The study found that rights issues and high retention ratios were the main strategies used by firms to recapitalize their operations. The recapitalization efforts have been by liquidity challenges that have characterised the multiple currency era
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Wadesango, Newman, Edmore Tasa, Ongayi Vongayi Wadesango, and Khazamula Milondzo. "An empirical study on the influence of IFRS and regulations on the quality of financial reporting of listed companies in a developing country." Risk Governance and Control: Financial Markets and Institutions 6, no. 4 (2016): 317–23. http://dx.doi.org/10.22495/rgcv6i4c2art9.
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This research sought to establish if International Accounting Standards (IAS), International Financial Reporting Standards (IFRS) and regulations in Zimbabwe have been associated with increased financial reporting quality for listed companies. The study adopted mixed research approach. Questionnaires and unstructured interviews were used as research instruments to collect primary data. Content analysis was also adopted to triangulate the results. Target population was the listed companies in Zimbabwe. The study found a significant negative relationship between voluntary adoption of IFRS and earnings management of listed companies in Zimbabwe. The negative relationship may indicate that IFRS does not promote earnings management for voluntary adopters, thereby implying an increased financial reporting quality. It is recommended that top management, external auditors and regulators being the key players in standards, should work together and tighten compliance so that impact of IFRS could be felt more.
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Shemyakina, Olga N. "Political violence and child health: Results from Zimbabwe." Economics & Human Biology 42 (August 2021): 101010. http://dx.doi.org/10.1016/j.ehb.2021.101010.
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Simatele, Munacinga, and Edson Mbedzi. "Consumer payment choices, costs, and risks: Evidence from Zimbabwe." Cogent Economics & Finance 9, no. 1 (January 1, 2021): 1875564. http://dx.doi.org/10.1080/23322039.2021.1875564.
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Mazambani, Last, Tariro Juliet Rushwaya, and Emmanuel Mutambara. "Financial inclusion: disrupted liquidity and redundancy of mobile money agents in Zimbabwe." Investment Management and Financial Innovations 15, no. 3 (August 16, 2018): 131–42. http://dx.doi.org/10.21511/imfi.15(3).2018.11.
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Mobile money agents (MMAs) are the pedestal of inclusive finance by bringing financial services closer to unbanked people by offering them capabilities to move from cash to electronic money and vice versa. This function is effective in an environment where hard cash is in uninterrupted circulation. The aim of this paper is to investigate implications of cash liquidity challenges in Zimbabwe to the development of financial inclusion through MMAs in a rural set-up. Phenomenological in-depth interviews were conducted with MMAs. Due to national liquidity challenges, MMAs ceased to receive cash float support, limiting their cash-in and cash-out services. Pure agents were adversely affected, while those who operate retail goods services reported increased goods sales through mobile money point-of-sale payments. Consumers are restricted to deal in electronic funds in the cashless economy making the cash-in and cash-out function of MMAs redundant. MMAs need support to sustain their operations and recoup invested capital in infrastructure. Risk management strategies, including the principal-agent contracts that minimize the exposure of MMAs to disruption of the service are important. MMAs could form an association to lobby financial regulators for support, negotiation with principals, market research, political power and active participation of agents in deepening financial inclusion. Perhaps pure MMAs could improve their economic sustainability by diversifying their businesses.
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Huang, Flora, and Horace Yeung. "Law–Finance–Growth Nexus in the Context of Africa." Law and Development Review 11, no. 2 (June 26, 2018): 513–55. http://dx.doi.org/10.1515/ldr-2018-0028.
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Abstract This article seeks to put the law–finance–growth nexus into the context of Africa. As of 2017, the African Securities Exchanges Association has 27 securities exchanges as full members. The Johannesburg Stock Exchange is the most developed of all, especially with respect to its market capitalization. Its socio-legal proximity with the English system may provide a good explanation to its phenomenal growth relative to the rest in the region. However, such a socio-legal proximity is indeed shared by a number of other former British colonies such as Nigeria and Zimbabwe. Law alone may not account for the rise of the Johannesburg Stock Exchange. Furthermore, this article seeks to argue whether there is a genuine need for the African countries to have a stock market, which requires highly evolved legal, market and governmental institutions and norms that often do not pre-exist in these countries. On the one hand, the article will look at Africa in general. On the other hand, it will put certain discussions into the context of selected African countries.