Coega industrial development zone as a catalyst for development in NMBM
- Authors: Younouss, Sanda Oumarou
- Date: 2018
- Subjects: Industrial development projects -- South Africa -- Port Elizabeth , Industrial development projects -- South Africa Economic development -- South Africa
- Language: English
- Type: Thesis , Masters , MPhil
- Identifier: http://hdl.handle.net/10948/36162 , vital:33901
- Description: It is common for countries to adopt growth-targeted strategies to address poverty and as a result, achieve development. South Africa is not an exception and that is the reason for implementing the industrial development zone (IDZ) programme, intended to achieve growth through exports. As part of this programme, the country established five IDZs, each of which operates in specific investment sectors. The economy of the Eastern Cape is experiencing difficulties in terms of unemployment, low wages and a declining population and the migration out of the Eastern Cape is due to limited job opportunities and low wages. The four largest economic sectors in the province are manufacturing, construction, agriculture and mining. The Coega IDZ (CIDZ) is located in the Eastern Cape Province of South Africa and operates in six investment sectors, namely automotive, agro-processing and aqua farming, chemical manufacturing, business process outsourcing, energy and metals. This research investigated the contribution of the CIDZ as a tool for development in the Eastern Cape and South Africa. It further investigates its contribution to the development of the Eastern Cape in the event of its expansion across three additional investment sectors, namely electronics, clothing and furniture. With the aim of conducting a proper assessment of their contribution, the strengths and weaknesses of these three investment sectors were elucidated. Additionally, the research described the operation of four special economic zones (SEZs), namely the Zarqa Free Zone, the Jebel Ali Free Zone, the East London Industrial Development Zone (ELIDZ) and the Coega Industrial Development Zone (CIDZ). The research methodology used was that of a descriptive study (literature-based). The research revealed that there is a need to add these three investment sectors to the CIDZ in order to develop the Eastern Cape, as they have the potential to meet the challenges that the province is facing. The research led to a number of recommendations inspired by the SEZs presented in the descriptive study, to improve the contribution of the CIDZ to the development of the Eastern Cape.
- Full Text:
- Date Issued: 2018
- Authors: Younouss, Sanda Oumarou
- Date: 2018
- Subjects: Industrial development projects -- South Africa -- Port Elizabeth , Industrial development projects -- South Africa Economic development -- South Africa
- Language: English
- Type: Thesis , Masters , MPhil
- Identifier: http://hdl.handle.net/10948/36162 , vital:33901
- Description: It is common for countries to adopt growth-targeted strategies to address poverty and as a result, achieve development. South Africa is not an exception and that is the reason for implementing the industrial development zone (IDZ) programme, intended to achieve growth through exports. As part of this programme, the country established five IDZs, each of which operates in specific investment sectors. The economy of the Eastern Cape is experiencing difficulties in terms of unemployment, low wages and a declining population and the migration out of the Eastern Cape is due to limited job opportunities and low wages. The four largest economic sectors in the province are manufacturing, construction, agriculture and mining. The Coega IDZ (CIDZ) is located in the Eastern Cape Province of South Africa and operates in six investment sectors, namely automotive, agro-processing and aqua farming, chemical manufacturing, business process outsourcing, energy and metals. This research investigated the contribution of the CIDZ as a tool for development in the Eastern Cape and South Africa. It further investigates its contribution to the development of the Eastern Cape in the event of its expansion across three additional investment sectors, namely electronics, clothing and furniture. With the aim of conducting a proper assessment of their contribution, the strengths and weaknesses of these three investment sectors were elucidated. Additionally, the research described the operation of four special economic zones (SEZs), namely the Zarqa Free Zone, the Jebel Ali Free Zone, the East London Industrial Development Zone (ELIDZ) and the Coega Industrial Development Zone (CIDZ). The research methodology used was that of a descriptive study (literature-based). The research revealed that there is a need to add these three investment sectors to the CIDZ in order to develop the Eastern Cape, as they have the potential to meet the challenges that the province is facing. The research led to a number of recommendations inspired by the SEZs presented in the descriptive study, to improve the contribution of the CIDZ to the development of the Eastern Cape.
- Full Text:
- Date Issued: 2018
Monetary policy and microfinance in Sub-Sahara Africa: Ghana’s perspective
- Authors: Wiredu, Nana Kwame
- Date: 2018
- Subjects: Monetary policy -- Ghana , Microfinance -- Ghana Ghana -- Economic policy
- Language: English
- Type: Thesis , Masters , MPhil
- Identifier: http://hdl.handle.net/10948/36037 , vital:33884
- Description: Ghana, like many other developing countries in Sub-Sahara Africa, recognises the important role that the micro, small and medium-sized enterprises (MSMEs) play in economic development. These enterprises need an environment conducive to thriving and growth, to contribute to employment and overall output. A key pillar to this is access to affordable credit. Credit in itself is thought to be affected by monetary policy formulated and put forth by the central bank, on behalf of government. The pass-through effect of monetary policy on commercial banking rates, as charged by bank and non-bank financial institutions (NBFIs), is a concern for MSMEs. Therefore, this study sought to highlight cause and effects relationship between monetary policy, the lending rate and private sector credit, and also sought to find a possible cushion for MSMEs through the microfinance targeting approach. Annual aggregate monetary time series data from the Bank of Ghana (BoG) was analysed. Multiple linear regression and analysis of variance test results reveal evidence of a significant and proportional effect of both the monetary policy rate and commercial banking rate on credit to the private sector. The key implication of the findings is that the pass-through effect of monetary policy negatively affects MSMEs. The study recommends that governments in Sub-Sahara Africa (SSA), and particularly the government of Ghana, should take into consideration the effects of monetary policy on MSMEs, when formulating monetary policies. It is also recommended that governments in SSA should formulate policies that enhance MSMEs access to adequate and affordable credit to enable it contribute more to economic growth. Perhaps, this can be done through microfinance.
- Full Text:
- Date Issued: 2018
- Authors: Wiredu, Nana Kwame
- Date: 2018
- Subjects: Monetary policy -- Ghana , Microfinance -- Ghana Ghana -- Economic policy
- Language: English
- Type: Thesis , Masters , MPhil
- Identifier: http://hdl.handle.net/10948/36037 , vital:33884
- Description: Ghana, like many other developing countries in Sub-Sahara Africa, recognises the important role that the micro, small and medium-sized enterprises (MSMEs) play in economic development. These enterprises need an environment conducive to thriving and growth, to contribute to employment and overall output. A key pillar to this is access to affordable credit. Credit in itself is thought to be affected by monetary policy formulated and put forth by the central bank, on behalf of government. The pass-through effect of monetary policy on commercial banking rates, as charged by bank and non-bank financial institutions (NBFIs), is a concern for MSMEs. Therefore, this study sought to highlight cause and effects relationship between monetary policy, the lending rate and private sector credit, and also sought to find a possible cushion for MSMEs through the microfinance targeting approach. Annual aggregate monetary time series data from the Bank of Ghana (BoG) was analysed. Multiple linear regression and analysis of variance test results reveal evidence of a significant and proportional effect of both the monetary policy rate and commercial banking rate on credit to the private sector. The key implication of the findings is that the pass-through effect of monetary policy negatively affects MSMEs. The study recommends that governments in Sub-Sahara Africa (SSA), and particularly the government of Ghana, should take into consideration the effects of monetary policy on MSMEs, when formulating monetary policies. It is also recommended that governments in SSA should formulate policies that enhance MSMEs access to adequate and affordable credit to enable it contribute more to economic growth. Perhaps, this can be done through microfinance.
- Full Text:
- Date Issued: 2018
Renewable energy project financing for economic growth and development: the case of Zambia
- Authors: Banda, Zondwayo
- Date: 2018
- Subjects: Renewable energy sources -- Economic aspects -- Zambia , Energy industries -- Zambia -- Finance Economic development -- Zambia
- Language: English
- Type: Thesis , Masters , MPhil
- Identifier: http://hdl.handle.net/10948/21527 , vital:29533
- Description: Energy is a critical component for the economic growth and development of developing countries. In particular Zambia’s economy requires energy in order to contribute to the reduction of poverty and inequalities in income and gender. Zambia faces an energy deficit which is compounded by lack of adequate financing and low electricity tariffs. The current energy deficit can challenge the achievement of such goals by Zambia. The aim of this research was to explore the impact of renewable energy project financing on Zambia’s economic growth and development. The mixed research methods through the use of questionnaires and interviews were used in achieving the research aim and objectives. In addition primary and secondary data were used as data sources for this research study. The current energy deficit in Zambia has negatively affected all the sectors in Zambia. In order to address the energy deficit, investments in the energy sector particularly through the use of project finance are required as such investments have the potential to improve energy generation, distribution and supply. Zambia has many sources of renewable energy such as solar, wind, hydro, biomass and geothermal making renewable energy project financing as the potential energy source to plug the energy deficit. By extension investments in renewable energy provide an opportunity for investors to expand their businesses and recoup their investments with high returns. Thus many sectors such as health, education, agriculture and service among others would benefit from the increased energy supply thereby improving their operations and spurring economic activities. Furthermore, renewable energy would improve access to energy in both urban and rural areas where electrification rates are as low as 25% and 3% respectively. Despite such positive impacts of renewable energy project the following account for the negative impacts: Externalisation of profits by investors; and, Over dependence on hydro-power. As energy is critical for economic growth and development of Zambia the major recommendations include the following: Seizing Project Finance Opportunities – with the abundance renewable energy resources such as solar, wind, geothermal and biomass, project finance in the form of debt and equity can be utilised to develop and implement renewable energy projects in order to improve energy generation, supply and distribution; Accelerating Renewable Energy Projects - Given the positive impacts of renewable energy project financing on economic growth and development in Zambia, renewable energy projects should be accelerated to result in increased economic growth and development; Removal of Red Tape - The government should reduce the red tape to ensure attraction of investments and implementation of renewable energy projects. Removal of red tape can accelerate investments and implementation of renewable energy projects as was the case in Kenya; Raising Awareness on Renewable Energy Benefits - Making investors and citizens aware (through investment forums and government websites) about the benefits of renewable energy would attract investors but would also allow local people to participate in the implementation of renewable energy projects. Further research – As this research involved organisations and participants in Lusaka province further research involving more participants and organisations outside Lusaka province is required to improve the research results. In addition further research is required to be conducted during reduced levels of energy deficits to improve research results. In this regard the recommendations are aimed at improving energy generation, distribution and supply so as to contribute to the economic growth and development of Zambia.
- Full Text:
- Date Issued: 2018
- Authors: Banda, Zondwayo
- Date: 2018
- Subjects: Renewable energy sources -- Economic aspects -- Zambia , Energy industries -- Zambia -- Finance Economic development -- Zambia
- Language: English
- Type: Thesis , Masters , MPhil
- Identifier: http://hdl.handle.net/10948/21527 , vital:29533
- Description: Energy is a critical component for the economic growth and development of developing countries. In particular Zambia’s economy requires energy in order to contribute to the reduction of poverty and inequalities in income and gender. Zambia faces an energy deficit which is compounded by lack of adequate financing and low electricity tariffs. The current energy deficit can challenge the achievement of such goals by Zambia. The aim of this research was to explore the impact of renewable energy project financing on Zambia’s economic growth and development. The mixed research methods through the use of questionnaires and interviews were used in achieving the research aim and objectives. In addition primary and secondary data were used as data sources for this research study. The current energy deficit in Zambia has negatively affected all the sectors in Zambia. In order to address the energy deficit, investments in the energy sector particularly through the use of project finance are required as such investments have the potential to improve energy generation, distribution and supply. Zambia has many sources of renewable energy such as solar, wind, hydro, biomass and geothermal making renewable energy project financing as the potential energy source to plug the energy deficit. By extension investments in renewable energy provide an opportunity for investors to expand their businesses and recoup their investments with high returns. Thus many sectors such as health, education, agriculture and service among others would benefit from the increased energy supply thereby improving their operations and spurring economic activities. Furthermore, renewable energy would improve access to energy in both urban and rural areas where electrification rates are as low as 25% and 3% respectively. Despite such positive impacts of renewable energy project the following account for the negative impacts: Externalisation of profits by investors; and, Over dependence on hydro-power. As energy is critical for economic growth and development of Zambia the major recommendations include the following: Seizing Project Finance Opportunities – with the abundance renewable energy resources such as solar, wind, geothermal and biomass, project finance in the form of debt and equity can be utilised to develop and implement renewable energy projects in order to improve energy generation, supply and distribution; Accelerating Renewable Energy Projects - Given the positive impacts of renewable energy project financing on economic growth and development in Zambia, renewable energy projects should be accelerated to result in increased economic growth and development; Removal of Red Tape - The government should reduce the red tape to ensure attraction of investments and implementation of renewable energy projects. Removal of red tape can accelerate investments and implementation of renewable energy projects as was the case in Kenya; Raising Awareness on Renewable Energy Benefits - Making investors and citizens aware (through investment forums and government websites) about the benefits of renewable energy would attract investors but would also allow local people to participate in the implementation of renewable energy projects. Further research – As this research involved organisations and participants in Lusaka province further research involving more participants and organisations outside Lusaka province is required to improve the research results. In addition further research is required to be conducted during reduced levels of energy deficits to improve research results. In this regard the recommendations are aimed at improving energy generation, distribution and supply so as to contribute to the economic growth and development of Zambia.
- Full Text:
- Date Issued: 2018
The impact of foreign direct investment (FDI) on economic growth in South Africa
- Authors: Ansong, Ama Yiadomaa
- Date: 2018
- Subjects: Investments, Foreign -- South Africa , Infrastructure (Economics) -- South Africa Gross domestic product -- South Africa Economic development -- South Africa South Africa -- Economic conditions
- Language: English
- Type: Thesis , Masters , MPhil
- Identifier: http://hdl.handle.net/10948/21494 , vital:29527
- Description: Numerous studies have investigated FDI and the possible benefits for African countries in terms of job creation opportunities, technology transfers, growth and development. Despite these potential benefits, FDI also has its negative effects on the host country in terms of market dominance, profit repatriation and loss of tax revenue if tax incentives are offered. In an effort to attract more FDI, host countries have undertaken various policy incentives to attract foreign investors. This study examines the trends and determinants of FDI flows to South Africa and other African countries. The period chosen for this study is from 1990- 2016. The study commences with a background study of FDI and GDP. Various literature offerings and different schools of thought with regard to FDI are also deliberated. To offer a better understanding of the relationship between FDI and GDP, econometric estimation was employed. The econometric estimation methods employed were, Unit Root, Johansen Cointegration, Vector Error Correction (VECM), Impulse Response Test, Variance Decomposition and the Granger Causality Test. Based on Granger causality test it can be concluded that South Africa’s economic growth attracts FDI and not vice versa. South Africa must therefore focus on growing its economy to attract more FDI.
- Full Text:
- Date Issued: 2018
- Authors: Ansong, Ama Yiadomaa
- Date: 2018
- Subjects: Investments, Foreign -- South Africa , Infrastructure (Economics) -- South Africa Gross domestic product -- South Africa Economic development -- South Africa South Africa -- Economic conditions
- Language: English
- Type: Thesis , Masters , MPhil
- Identifier: http://hdl.handle.net/10948/21494 , vital:29527
- Description: Numerous studies have investigated FDI and the possible benefits for African countries in terms of job creation opportunities, technology transfers, growth and development. Despite these potential benefits, FDI also has its negative effects on the host country in terms of market dominance, profit repatriation and loss of tax revenue if tax incentives are offered. In an effort to attract more FDI, host countries have undertaken various policy incentives to attract foreign investors. This study examines the trends and determinants of FDI flows to South Africa and other African countries. The period chosen for this study is from 1990- 2016. The study commences with a background study of FDI and GDP. Various literature offerings and different schools of thought with regard to FDI are also deliberated. To offer a better understanding of the relationship between FDI and GDP, econometric estimation was employed. The econometric estimation methods employed were, Unit Root, Johansen Cointegration, Vector Error Correction (VECM), Impulse Response Test, Variance Decomposition and the Granger Causality Test. Based on Granger causality test it can be concluded that South Africa’s economic growth attracts FDI and not vice versa. South Africa must therefore focus on growing its economy to attract more FDI.
- Full Text:
- Date Issued: 2018
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