Financing tools, firm life cycle and growth of small, medium and micro enterprises in selected sub-Sahara African economies
- Ngonisa, Phillip https://orcid.org/0000-0002-0145-9062
- Authors: Ngonisa, Phillip https://orcid.org/0000-0002-0145-9062
- Date: 2022-03
- Subjects: Small business -- Finance , Small business -- Africa
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/21794 , vital:51754
- Description: Finance is of paramount importance for small, medium and micro enterprises’ (SMMEs) growth, without which many firms fail to move along their growth continuum. Against this background, the study sought to examine the growth effects of financing tools across the different phases of SMMEs' life cycle in Sub Sahara Africa (SSA) economies for the period spanning from 2003 to 2019. Firstly, due to the inherent heterogeneity nature of the SMMEs' financing landscapes across the world, the study starts by identifying the commonly used financing tools in the context of Sub-Saharan Africa. These were found to be internal finance, bank debt, trade credit, non-bank finance and informal finance, with internal finance being the most prevalent financing tool. The second aspect of the study was to examine the growth effects of the identified financing tools on SMMEs' performance in Sub Sahara Africa. In achieving this objective, several panel estimation techniques were employed, which are the feasible generalised least squares (FGLS), cross-sectional dependence (SCC), random effects model (REM) and pooled ordinary least squares (POLS). The empirical results show that internal finance or savings, bank financing, trade credit, non-bank financing and informal financing are positive and statistically significant in explaining SMMEs growth in the region, with stronger evidence for a positive relationship between external finance (trade credit and bank finance) on SMMEs growth in Sub-Saharan African region. The third objective of the study was to investigate the growth effects of SMMEs’ financing tools across different phases of the firm life cycle. The same panel techniques as used in achieving the previous objective were utilized again. The empirical findings show that the growth effects of SMME financing tools evolve as SMMEs move along their growth continuum, and only bank finance proved to be a fundamental variable for SMMEs growth throughout the different phases of firm growth. Finally, motivated by SMMEs’ high dependence on internal finance or savings, the study explored the saving practices of SMMEs in Sub Saharan Africa using thematic analysis. The study findings show that SMMEs in Sub Sahara African economies systematically save through formal and informal financial systems. These findings are contrary to conventional wisdom, which suggests that SMMEs are a financial basket case. Basing on the study findings, policies aimed at reducing or lessening the burden of accessing finance are important to stimulate the growth of SMMEs. Most importantly, there is a need for lenders and sponsors to understand the firm life cycle-financing tool nexus to ensure SMMEs growth. Moreover, SMMEs in Sub Sahara African economies need to cultivate a spirit of thrift to minimize firm attrition rate, thereby promoting SMMEs' growth in the region. , Thesis (PhD) -- Faculty of Management and Commerce, 2022
- Full Text:
- Date Issued: 2022-03
- Authors: Ngonisa, Phillip https://orcid.org/0000-0002-0145-9062
- Date: 2022-03
- Subjects: Small business -- Finance , Small business -- Africa
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/21794 , vital:51754
- Description: Finance is of paramount importance for small, medium and micro enterprises’ (SMMEs) growth, without which many firms fail to move along their growth continuum. Against this background, the study sought to examine the growth effects of financing tools across the different phases of SMMEs' life cycle in Sub Sahara Africa (SSA) economies for the period spanning from 2003 to 2019. Firstly, due to the inherent heterogeneity nature of the SMMEs' financing landscapes across the world, the study starts by identifying the commonly used financing tools in the context of Sub-Saharan Africa. These were found to be internal finance, bank debt, trade credit, non-bank finance and informal finance, with internal finance being the most prevalent financing tool. The second aspect of the study was to examine the growth effects of the identified financing tools on SMMEs' performance in Sub Sahara Africa. In achieving this objective, several panel estimation techniques were employed, which are the feasible generalised least squares (FGLS), cross-sectional dependence (SCC), random effects model (REM) and pooled ordinary least squares (POLS). The empirical results show that internal finance or savings, bank financing, trade credit, non-bank financing and informal financing are positive and statistically significant in explaining SMMEs growth in the region, with stronger evidence for a positive relationship between external finance (trade credit and bank finance) on SMMEs growth in Sub-Saharan African region. The third objective of the study was to investigate the growth effects of SMMEs’ financing tools across different phases of the firm life cycle. The same panel techniques as used in achieving the previous objective were utilized again. The empirical findings show that the growth effects of SMME financing tools evolve as SMMEs move along their growth continuum, and only bank finance proved to be a fundamental variable for SMMEs growth throughout the different phases of firm growth. Finally, motivated by SMMEs’ high dependence on internal finance or savings, the study explored the saving practices of SMMEs in Sub Saharan Africa using thematic analysis. The study findings show that SMMEs in Sub Sahara African economies systematically save through formal and informal financial systems. These findings are contrary to conventional wisdom, which suggests that SMMEs are a financial basket case. Basing on the study findings, policies aimed at reducing or lessening the burden of accessing finance are important to stimulate the growth of SMMEs. Most importantly, there is a need for lenders and sponsors to understand the firm life cycle-financing tool nexus to ensure SMMEs growth. Moreover, SMMEs in Sub Sahara African economies need to cultivate a spirit of thrift to minimize firm attrition rate, thereby promoting SMMEs' growth in the region. , Thesis (PhD) -- Faculty of Management and Commerce, 2022
- Full Text:
- Date Issued: 2022-03
Impact of press freedom on reportage of corruption in the Nigerian oil and gas industry : a comparative content analysis of four Nigerian Newspapers
- Ayodeji-Falade, Monisola Bolajoko
- Authors: Ayodeji-Falade, Monisola Bolajoko
- Date: 2021-10
- Subjects: Newspapers -- Nigeria , Freedom of the press , Mass media -- Nigeria
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/21805 , vital:51787
- Description: A free press is pivotal to eradication of corruption in the society as the press remains the most powerful channel of communication that cut across all publics. Thus, this study seeks to evaluate the impact of press freedom on reportage of corruption in the oil and gas industry through a content analysis of four Nigerian newspapers (The Punch, Vanguard, Guardian and Nigerian Tribune). The study adopted a mixed research method involving both quantitative and qualitative approaches. Quantitative data were collected and analysed through content analysis of the selected newspapers while the qualitative data collected through interview of the respective newspaper correspondents were analysed using thematic analysis. The study revealed that 534 stories were published on corruption in the Nigerian oil and gas sector by all the newspapers within the study period (July 2018-June 2019), with the Punch having the highest magnitude of stories (n = 196, 36.70percent) while Nigerian Tribune had the highest number of stories reported on its front and back pages (n = 143, 92.25percent). However, Guardian had the highest number of full-paged stories (n = 15, 20percent) whereas the Punch and Nigerian Tribune adopted the widest range of publication formats with news being the most dominant format employed by all the dailies (n = 462, 86.52percent). Although, all the newspapers employed more episodic frame (n = 432, 80.89percent) than thematic frame (n = 93,17.41percent), framing analysis revealed oil theft, vandalism, alleged-fraud, environmental consequences and economic consequences as the major frames used in the coverage of stories on corruption in the Nigerian oil and gas industry. Thematic analysis showed that the newspaper correspondents did not have access to adequate information on corruption in the sector while journalists in the country are still being subjected to intimidation, arrest and imprisonment. These findings suggest that the selected newspapers gave prominence to reportage of corruption in the oil and gas sector in country, which implies that the newspapers are fulfilling their agenda-setting roles and social responsibility in the society. Nevertheless, the level of press freedom in Nigeria has partly affected the reportage of corruption in the oil and gas sector of the country as this has restricted the use of investigative reporting occasioned by the lack of access to classified information on corruption and envisaged harm by potential sources and journalists. Nevertheless, this study proposes an anticorruption-media model, which focuses on the significance of the media as an anticorruption agent in a developing country. , Thesis (PhD) -- Faculty of Social Sciences and Humanities, 2021
- Full Text:
- Date Issued: 2021-10
- Authors: Ayodeji-Falade, Monisola Bolajoko
- Date: 2021-10
- Subjects: Newspapers -- Nigeria , Freedom of the press , Mass media -- Nigeria
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/21805 , vital:51787
- Description: A free press is pivotal to eradication of corruption in the society as the press remains the most powerful channel of communication that cut across all publics. Thus, this study seeks to evaluate the impact of press freedom on reportage of corruption in the oil and gas industry through a content analysis of four Nigerian newspapers (The Punch, Vanguard, Guardian and Nigerian Tribune). The study adopted a mixed research method involving both quantitative and qualitative approaches. Quantitative data were collected and analysed through content analysis of the selected newspapers while the qualitative data collected through interview of the respective newspaper correspondents were analysed using thematic analysis. The study revealed that 534 stories were published on corruption in the Nigerian oil and gas sector by all the newspapers within the study period (July 2018-June 2019), with the Punch having the highest magnitude of stories (n = 196, 36.70percent) while Nigerian Tribune had the highest number of stories reported on its front and back pages (n = 143, 92.25percent). However, Guardian had the highest number of full-paged stories (n = 15, 20percent) whereas the Punch and Nigerian Tribune adopted the widest range of publication formats with news being the most dominant format employed by all the dailies (n = 462, 86.52percent). Although, all the newspapers employed more episodic frame (n = 432, 80.89percent) than thematic frame (n = 93,17.41percent), framing analysis revealed oil theft, vandalism, alleged-fraud, environmental consequences and economic consequences as the major frames used in the coverage of stories on corruption in the Nigerian oil and gas industry. Thematic analysis showed that the newspaper correspondents did not have access to adequate information on corruption in the sector while journalists in the country are still being subjected to intimidation, arrest and imprisonment. These findings suggest that the selected newspapers gave prominence to reportage of corruption in the oil and gas sector in country, which implies that the newspapers are fulfilling their agenda-setting roles and social responsibility in the society. Nevertheless, the level of press freedom in Nigeria has partly affected the reportage of corruption in the oil and gas sector of the country as this has restricted the use of investigative reporting occasioned by the lack of access to classified information on corruption and envisaged harm by potential sources and journalists. Nevertheless, this study proposes an anticorruption-media model, which focuses on the significance of the media as an anticorruption agent in a developing country. , Thesis (PhD) -- Faculty of Social Sciences and Humanities, 2021
- Full Text:
- Date Issued: 2021-10
Exploring the role of rural entrepreneurship on welfare in South Africa: a case of Nkonkobe Municipal area in the Eastern Cape Province
- Ngorora, Grace Portia Kuda https://orcid.org/0000-0003-4756-3137
- Authors: Ngorora, Grace Portia Kuda https://orcid.org/0000-0003-4756-3137
- Date: 2011-12
- Subjects: Rural development projects , Public welfare --South Africa , Entrepreneurship
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10353/26357 , vital:65248
- Description: The study set out to explore the role of rural entrepreneurship on welfare in Nkonkobe Municipal Area of the Eastern Cape Province of South Africa. The objectives of the study were to identify the role rural entrepreneurship plays on welfare and determine the factors that promote or hinder rural entrepreneurship. Semi-structured questionnaires were administered to establish the perceptions of rural entrepreneurs. Findings from the study suggest that rural entrepreneurship contributes immensely to the welfare of individuals, family and community in Nkonkobe Municipal Area of the Eastern Cape Province. Rural entrepreneurship is the most important activity for entrepreneurs for it enables individuals to access quality health facilities and experience an improved quality of life. The study also found that families have more income which they use to acquire assets. They are able to send children to good schools using earnings from their business activities. Entrepreneurs can also contribute to the welfare of their relatives as result of being entrepreneurial. The results imply that rural entrepreneurship improves the quality of livelihood for rural dwellers. There was a significant correlation between the role rural entrepreneurship plays in generating more income and the rural dwellers ability to send their children to good schools. Findings from this study also showed that rural entrepreneurship improves the quality of livelihood in rural areas through the creation of wealth and employment. For most respondents 83 percent entrepreneurship alone provides them with income. Social capital in the form of special relationships, access to critical information, unique local knowledge and previous experience was ranked the most important factor when starting businesses. Irregular payments from customers were considered the factor affecting entrepreneurs most in Nkonkobe Municipality. Lack of finance was ranked the factor hindering rural entrepreneurship most in Nkonkobe Municipality. Training and educational programs, capacitating as well as support from government were found to be very important for entrepreneurship to grow in Nkonkobe Municipality. , Thesis (MSoc) -- Faculty of Management and Commerce, 2011
- Full Text:
- Date Issued: 2011-12
- Authors: Ngorora, Grace Portia Kuda https://orcid.org/0000-0003-4756-3137
- Date: 2011-12
- Subjects: Rural development projects , Public welfare --South Africa , Entrepreneurship
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10353/26357 , vital:65248
- Description: The study set out to explore the role of rural entrepreneurship on welfare in Nkonkobe Municipal Area of the Eastern Cape Province of South Africa. The objectives of the study were to identify the role rural entrepreneurship plays on welfare and determine the factors that promote or hinder rural entrepreneurship. Semi-structured questionnaires were administered to establish the perceptions of rural entrepreneurs. Findings from the study suggest that rural entrepreneurship contributes immensely to the welfare of individuals, family and community in Nkonkobe Municipal Area of the Eastern Cape Province. Rural entrepreneurship is the most important activity for entrepreneurs for it enables individuals to access quality health facilities and experience an improved quality of life. The study also found that families have more income which they use to acquire assets. They are able to send children to good schools using earnings from their business activities. Entrepreneurs can also contribute to the welfare of their relatives as result of being entrepreneurial. The results imply that rural entrepreneurship improves the quality of livelihood for rural dwellers. There was a significant correlation between the role rural entrepreneurship plays in generating more income and the rural dwellers ability to send their children to good schools. Findings from this study also showed that rural entrepreneurship improves the quality of livelihood in rural areas through the creation of wealth and employment. For most respondents 83 percent entrepreneurship alone provides them with income. Social capital in the form of special relationships, access to critical information, unique local knowledge and previous experience was ranked the most important factor when starting businesses. Irregular payments from customers were considered the factor affecting entrepreneurs most in Nkonkobe Municipality. Lack of finance was ranked the factor hindering rural entrepreneurship most in Nkonkobe Municipality. Training and educational programs, capacitating as well as support from government were found to be very important for entrepreneurship to grow in Nkonkobe Municipality. , Thesis (MSoc) -- Faculty of Management and Commerce, 2011
- Full Text:
- Date Issued: 2011-12
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