The development of mobile money services and financial inclusion in Zimbabwe
- Authors: Chingono, Kudzaishe Emily
- Date: 2024-10-11
- Subjects: Mobile commerce Zimbabwe , Financial inclusion , Automated tellers , Financial literacy , Education Social aspects South Africa , Technology and older people South Africa
- Language: English
- Type: Academic theses , Master's theses , text
- Identifier: http://hdl.handle.net/10962/462691 , vital:76326
- Description: Purpose- The use of mobile phones in Zimbabwe fostered the development of various financial innovations, such as mobile money services. It is important to note that the use of mobile money services in Zimbabwe has gradually increased. This study was carried out to determine the relationship between the development of mobile money services and financial inclusion in Zimbabwe. The main goal was to determine if there is a correlation between financial inclusion and the development of mobile money services. Design and Methodological approach: This study used a quantitative research design in which time series data was used to generate the analysis. The data used in the study covered a period of 20 years, starting from 2000 to 2020 on a yearly basis. Auto Regressive Distributed Lag (ARDL) Model was used to analyze the relationship. Findings: The ARDL study results showed that in the long run, there is no statistically significant correlation between the development of mobile money services and financial inclusion, and this is suggested by the long-term relationship between the two variables over a period of 20 years. In the short run, the study findings showed that the development of mobile money services have a positive significant influence on financial inclusion with. Therefore, increase in mobile money usage was associated with increase in financial inclusion. Between the period 2000 and 2020, the major determinants of mobile moneys services are age, number of ATMs, financial literacy, income level and mobile phone penetration. The tests also showed that these variables significantly and positively influenced use of mobile money as a financial inclusion tool in Zimbabwe (p<.05). Research Limitations: The study did not find a lot of current relevant literature that would explain the relationship between mobile money services and financial inclusion. Majority of the work was carried out in other countries, and little was covered in Zimbabwe. Practical Implications: The study results implies that government should put in place measure to ensure the expansion of mobile money services in the rural areas. The mobile telecommunication firms should ensure increased mobile phone penetration. , Thesis (MCom) -- Faculty of Commerce, Economics and Economic History, 2024
- Full Text:
- Date Issued: 2024-10-11
- Authors: Chingono, Kudzaishe Emily
- Date: 2024-10-11
- Subjects: Mobile commerce Zimbabwe , Financial inclusion , Automated tellers , Financial literacy , Education Social aspects South Africa , Technology and older people South Africa
- Language: English
- Type: Academic theses , Master's theses , text
- Identifier: http://hdl.handle.net/10962/462691 , vital:76326
- Description: Purpose- The use of mobile phones in Zimbabwe fostered the development of various financial innovations, such as mobile money services. It is important to note that the use of mobile money services in Zimbabwe has gradually increased. This study was carried out to determine the relationship between the development of mobile money services and financial inclusion in Zimbabwe. The main goal was to determine if there is a correlation between financial inclusion and the development of mobile money services. Design and Methodological approach: This study used a quantitative research design in which time series data was used to generate the analysis. The data used in the study covered a period of 20 years, starting from 2000 to 2020 on a yearly basis. Auto Regressive Distributed Lag (ARDL) Model was used to analyze the relationship. Findings: The ARDL study results showed that in the long run, there is no statistically significant correlation between the development of mobile money services and financial inclusion, and this is suggested by the long-term relationship between the two variables over a period of 20 years. In the short run, the study findings showed that the development of mobile money services have a positive significant influence on financial inclusion with. Therefore, increase in mobile money usage was associated with increase in financial inclusion. Between the period 2000 and 2020, the major determinants of mobile moneys services are age, number of ATMs, financial literacy, income level and mobile phone penetration. The tests also showed that these variables significantly and positively influenced use of mobile money as a financial inclusion tool in Zimbabwe (p<.05). Research Limitations: The study did not find a lot of current relevant literature that would explain the relationship between mobile money services and financial inclusion. Majority of the work was carried out in other countries, and little was covered in Zimbabwe. Practical Implications: The study results implies that government should put in place measure to ensure the expansion of mobile money services in the rural areas. The mobile telecommunication firms should ensure increased mobile phone penetration. , Thesis (MCom) -- Faculty of Commerce, Economics and Economic History, 2024
- Full Text:
- Date Issued: 2024-10-11
The relationship between human, social and financial capital and small and medium enterprise (SME) performance in South Africa
- Authors: Siso, Masiso Nomakha
- Date: 2024-10-11
- Subjects: Small business South Africa , Small and medium enterprises , Enterprise performance management , Financial literacy , Human capital , Social capital (Sociology) , Financial capital , Resource-based view
- Language: English
- Type: Academic theses , Master's theses , text
- Identifier: http://hdl.handle.net/10962/462823 , vital:76338
- Description: The COVID-19 pandemic has had a severe impact on developing countries, exacerbating economic stagnation, high poverty rates, and unemployment. South Africa, in particular, faces significant challenges, with a 35.3 percent unemployment rate and a 17.4 percent GDP decline in 2021. Small and Medium Enterprises (SMEs) are crucial during these economic challenges, traditionally employing a substantial workforce and contributing significantly to the GDP. Despite their importance, SMEs often struggle, with a small percentage surviving the initial two years. Limited research has been conducted on the resources and capabilities crucial for enterprise performance in South Africa. While studies in developed countries exist, few explore the relationship between resources and capabilities facilitating SME performance in developing contexts. This study focuses on human capital, bonding, bridging, and linking social capital, and financial capital as key resources and capabilities. Given the backdrop that many entrepreneurs in South Africa may not possess formal education or extensive work experience, this study contends that financial literacy—encompassing financial knowledge, behaviour, and attitude—serves as a proxy for human capital. Additionally, a notable portion of entrepreneurs in South Africa face a deficit in the skills and knowledge essential for identifying entrepreneurial opportunities. Even among those possessing these capabilities, the challenge lies in the lack of necessary resources, including social and financial capital, to effectively transform such prospects into viable new ventures. This study employed a causal research design and adopted a quantitative research approach within a post-positivist paradigm. The primary objective was to investigate the relationship between the following independent variables; human (where financial literacy was used as a proxy which consisted of financial knowledge, attitude and behaviour), bonding, bridging and linking social capital, and financial capital and the dependent variable; SME performance. An online self-administered questionnaire was used to gather data from SME owners/managers. A pilot study was undertaken, in which an electronic link to the questionnaire was sent to potential respondents. Potential respondents were identified using purposive and convenience sampling methods. Data collection yielded 334 usable responses from SME owners/managers in South Africa. After cleaning the data, the analysis examined the relationship between independent and dependent variables. Confirmatory Factor Analysis (CFA) and Cronbach Alpha Coefficient analysis were used to confirm the validity and reliability of the measurement instrument, respectively. Descriptive statistics, regression, and correlation results were reported. Furthermore, a group mean analysis, including independent sample t-tests and one-way ANOVAs, were performed to investigate potential significant differences in variables based on demographic and enterprise related variables. The findings revealed a significant positive relationship between financial capital and SME performance. This indicates that an entrepreneur's ability to access financial capital or possess financial capital contributes to the performance and success of enterprises in South Africa. This finding underscores the crucial role of financial capital in facilitating the growth and sustainability of enterprises, as it provides a buffer against unfavourable economic shocks, enables entrepreneurs to pursue more capital-intensive strategies, and affords them more time to learn and overcome challenges. Conversely, no significant relationships were found between financial knowledge, behaviour, and attitude, bonding, bridging, and linking social capital, and SME performance. This study contributes to the development of SMEs in South Africa by identifying the critical resources and capabilities essential for their survival and growth. Additionally, it offers valuable recommendations for policymakers to create a conducive environment for entrepreneurs and suggests potential educational initiatives and support structures. Furthermore, this study advocates for the exploration of innovative financing approaches to build a financial cushion and bolster resilience against economic upheavals. , Thesis (MCom) -- Faculty of Commerce, Economics and Economic History, 2024
- Full Text:
- Date Issued: 2024-10-11
- Authors: Siso, Masiso Nomakha
- Date: 2024-10-11
- Subjects: Small business South Africa , Small and medium enterprises , Enterprise performance management , Financial literacy , Human capital , Social capital (Sociology) , Financial capital , Resource-based view
- Language: English
- Type: Academic theses , Master's theses , text
- Identifier: http://hdl.handle.net/10962/462823 , vital:76338
- Description: The COVID-19 pandemic has had a severe impact on developing countries, exacerbating economic stagnation, high poverty rates, and unemployment. South Africa, in particular, faces significant challenges, with a 35.3 percent unemployment rate and a 17.4 percent GDP decline in 2021. Small and Medium Enterprises (SMEs) are crucial during these economic challenges, traditionally employing a substantial workforce and contributing significantly to the GDP. Despite their importance, SMEs often struggle, with a small percentage surviving the initial two years. Limited research has been conducted on the resources and capabilities crucial for enterprise performance in South Africa. While studies in developed countries exist, few explore the relationship between resources and capabilities facilitating SME performance in developing contexts. This study focuses on human capital, bonding, bridging, and linking social capital, and financial capital as key resources and capabilities. Given the backdrop that many entrepreneurs in South Africa may not possess formal education or extensive work experience, this study contends that financial literacy—encompassing financial knowledge, behaviour, and attitude—serves as a proxy for human capital. Additionally, a notable portion of entrepreneurs in South Africa face a deficit in the skills and knowledge essential for identifying entrepreneurial opportunities. Even among those possessing these capabilities, the challenge lies in the lack of necessary resources, including social and financial capital, to effectively transform such prospects into viable new ventures. This study employed a causal research design and adopted a quantitative research approach within a post-positivist paradigm. The primary objective was to investigate the relationship between the following independent variables; human (where financial literacy was used as a proxy which consisted of financial knowledge, attitude and behaviour), bonding, bridging and linking social capital, and financial capital and the dependent variable; SME performance. An online self-administered questionnaire was used to gather data from SME owners/managers. A pilot study was undertaken, in which an electronic link to the questionnaire was sent to potential respondents. Potential respondents were identified using purposive and convenience sampling methods. Data collection yielded 334 usable responses from SME owners/managers in South Africa. After cleaning the data, the analysis examined the relationship between independent and dependent variables. Confirmatory Factor Analysis (CFA) and Cronbach Alpha Coefficient analysis were used to confirm the validity and reliability of the measurement instrument, respectively. Descriptive statistics, regression, and correlation results were reported. Furthermore, a group mean analysis, including independent sample t-tests and one-way ANOVAs, were performed to investigate potential significant differences in variables based on demographic and enterprise related variables. The findings revealed a significant positive relationship between financial capital and SME performance. This indicates that an entrepreneur's ability to access financial capital or possess financial capital contributes to the performance and success of enterprises in South Africa. This finding underscores the crucial role of financial capital in facilitating the growth and sustainability of enterprises, as it provides a buffer against unfavourable economic shocks, enables entrepreneurs to pursue more capital-intensive strategies, and affords them more time to learn and overcome challenges. Conversely, no significant relationships were found between financial knowledge, behaviour, and attitude, bonding, bridging, and linking social capital, and SME performance. This study contributes to the development of SMEs in South Africa by identifying the critical resources and capabilities essential for their survival and growth. Additionally, it offers valuable recommendations for policymakers to create a conducive environment for entrepreneurs and suggests potential educational initiatives and support structures. Furthermore, this study advocates for the exploration of innovative financing approaches to build a financial cushion and bolster resilience against economic upheavals. , Thesis (MCom) -- Faculty of Commerce, Economics and Economic History, 2024
- Full Text:
- Date Issued: 2024-10-11
Strategies to improve employee financial intelligence
- Authors: Botha, Perine
- Date: 2020
- Subjects: Financial literacy
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: http://hdl.handle.net/10948/47486 , vital:40118
- Description: South African employees are largely indebted, with the majority of their disposable income used to service debt. The potential causes of this problem include the levels of education of individuals, how investors perceive the political climate in the country, levels of disposable income and the spending habits of individuals. This study aims to assist organisations to improve employee financial intelligence by investigating what influences financial intelligence. To ascertain these influences, the respondents’ level of financial literacy is to be determined as well. Financial literacy is assessed by determining a respondents’ knowledge of numeracy, risk diversification, compound interest and inflation. Additional factors such as debt management, saving culture and access to digital information too have an impact on financial literacy. An empirical study, consisting of a questionnaire was conducted among employees of a state-owned enterprise (SOE) in the Eastern Cape Province of South Africa. These employees represent both the management and junior employee profiles. The study found that 75% of the respondents were not financially literate. Financial literacy rates globally are at 51%, however, in a major emerging economy such as South Africa, the rate is between 48% and 51%. The results of the study however indicate that it is much lower than the global average as well as for that of similar developing countries. The results of the study indicate that age, gender, job grade, level of education, access to digital information, a savings culture, budgeting and debt management do not significantly influence financial literacy in the context of SouthAfrica.The research indicates that the respondents are, however, willing to learn and be educated to increase their financial knowledge and awareness. Possible strategies which could assist in improving levels of financial intelligence are:•Financial literacy courses offered by employers;•Research undertaken by employees themselves could increase their financial literacy; Employee wellness programmes, such as debt counselling, could improve the financial literacy of employees;•Completion of online courses would improve the employees’ level of financial literacy;•Budgeting and money management courses;•Financial advisors to be appointed by employers;•Debt counselling of employees.
- Full Text:
- Date Issued: 2020
- Authors: Botha, Perine
- Date: 2020
- Subjects: Financial literacy
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: http://hdl.handle.net/10948/47486 , vital:40118
- Description: South African employees are largely indebted, with the majority of their disposable income used to service debt. The potential causes of this problem include the levels of education of individuals, how investors perceive the political climate in the country, levels of disposable income and the spending habits of individuals. This study aims to assist organisations to improve employee financial intelligence by investigating what influences financial intelligence. To ascertain these influences, the respondents’ level of financial literacy is to be determined as well. Financial literacy is assessed by determining a respondents’ knowledge of numeracy, risk diversification, compound interest and inflation. Additional factors such as debt management, saving culture and access to digital information too have an impact on financial literacy. An empirical study, consisting of a questionnaire was conducted among employees of a state-owned enterprise (SOE) in the Eastern Cape Province of South Africa. These employees represent both the management and junior employee profiles. The study found that 75% of the respondents were not financially literate. Financial literacy rates globally are at 51%, however, in a major emerging economy such as South Africa, the rate is between 48% and 51%. The results of the study however indicate that it is much lower than the global average as well as for that of similar developing countries. The results of the study indicate that age, gender, job grade, level of education, access to digital information, a savings culture, budgeting and debt management do not significantly influence financial literacy in the context of SouthAfrica.The research indicates that the respondents are, however, willing to learn and be educated to increase their financial knowledge and awareness. Possible strategies which could assist in improving levels of financial intelligence are:•Financial literacy courses offered by employers;•Research undertaken by employees themselves could increase their financial literacy; Employee wellness programmes, such as debt counselling, could improve the financial literacy of employees;•Completion of online courses would improve the employees’ level of financial literacy;•Budgeting and money management courses;•Financial advisors to be appointed by employers;•Debt counselling of employees.
- Full Text:
- Date Issued: 2020
The mediating effect of financial literacy on the relationship between financial behavior and financial well-being on budget intentions
- Authors: Msakatya, Sakhumzi Mcgregor
- Date: 2020
- Subjects: Financial literacy
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: http://hdl.handle.net/10948/49736 , vital:41786
- Description: Financial literacy concerns the understanding of those concepts related to finances. Financial literacy is globally recognised as an essential life skill since people must be able to differentiate among a wide range of products, services and providers of financial products to manage their finances successfully. Individuals make daily financial decisions about expenditures and savings. In environments where resources are scarce poor financial decisions have high impact on the quality of life and future access to resources. People are not adequately educated with regards to finance and wealth creation, save too little for retirement, overspend and tend to purchase items that are not prioritised for the household. Due to limited empirical research, it is clear that new research into the effect of financial literacy on the relationship between financial behaviour and financial well-being on budget intentions is required. This study was anchored to two theories, namely the Theory of Planned Behavior (TPB), intended to explain all behaviors in which people have the ability to exert self-control and the Trans-Theoretical Model of Behaviour Change (TTM) that could be used to change people’s financial behaviour. The problem being explored is that the mismanagement of funding for beneficiaries at higher education institutions. NSFAS has begun to increasingly make cash payouts available to beneficiaries yet there is not enough empirical evidence to suggest that the beneficiaries possess adequate personal finance management skills or they are financially literate to being able to better manage their finances. When the beneficiaries are not adequately skilled regarding personal finance management skills, they could misuse such funds and this could result in these beneficiaries failing to complete their studies. This study contributed to the identified knowledge gap by investigating the mediating effect of financial literacy on the relationship between financial behaviour and financial well-being on budget intentions among South African university students. This study included quantitative research methods and questionnaires were used as the primary means of collecting the data. The sample included 204 participants from the University of Fort Hare. The final sample yielded a total response rate of 81.6%. A cross sectional research design was used for this study. Convenience sampling was used in this study. The researcher made use of student leaders to distribute and collect questionnaires. This study included 14 hypotheses. The dependent variables included Budget Intentions and Financial Literacy. The independent variables included Financial Well-being and Financial Behaviour. Self-control as a financial behaviour predicted university students’ budget intentions. Individuals with better self-control were more likely to forgo indulgences and focus on the long-term goals, thereby sticking to a budget. Optimism significantly predicted budget intentions of university learners. People who tend to engage in deliberate thinking more often are more likely to better manage their personal finances through budgeting. Individuals who have more positive financial attitude were more satisfied with their financial situation implying that they undertake planning and budgeting as far as finance issues are concerned. Financial socialisation from a parental perspective significantly influenced university students’ financial behaviour, namely, financial teaching, monitoring and modelling. People with better self-control are more likely to practise saving in almost every income flowing to them. Financial behaviour, particularly, deliberating thinking significantly predicted financial literacy. Positive financial behaviours such as being financial literate such as a reduction in day-to-day expenses were found to be associated with lower financial anxiety levels. Financial behaviours including positive financial attitude significantly predicted financial literacy. Individuals who had their financial issues monitored by parents for the purpose of earning advice and tips on financial matters were positively behaving pointing to the notion that they were financial literate and knowledgeable. The implication of the study is that management of institutions of higher learning should encourage students to practise self-control behaviour regarding their finances in order to improve budget intentions. It is also recommended that the Universities management should design short courses where students can be trained on or made aware of the importance of self-control as much as good financial behaviour is concerned.
- Full Text:
- Date Issued: 2020
- Authors: Msakatya, Sakhumzi Mcgregor
- Date: 2020
- Subjects: Financial literacy
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: http://hdl.handle.net/10948/49736 , vital:41786
- Description: Financial literacy concerns the understanding of those concepts related to finances. Financial literacy is globally recognised as an essential life skill since people must be able to differentiate among a wide range of products, services and providers of financial products to manage their finances successfully. Individuals make daily financial decisions about expenditures and savings. In environments where resources are scarce poor financial decisions have high impact on the quality of life and future access to resources. People are not adequately educated with regards to finance and wealth creation, save too little for retirement, overspend and tend to purchase items that are not prioritised for the household. Due to limited empirical research, it is clear that new research into the effect of financial literacy on the relationship between financial behaviour and financial well-being on budget intentions is required. This study was anchored to two theories, namely the Theory of Planned Behavior (TPB), intended to explain all behaviors in which people have the ability to exert self-control and the Trans-Theoretical Model of Behaviour Change (TTM) that could be used to change people’s financial behaviour. The problem being explored is that the mismanagement of funding for beneficiaries at higher education institutions. NSFAS has begun to increasingly make cash payouts available to beneficiaries yet there is not enough empirical evidence to suggest that the beneficiaries possess adequate personal finance management skills or they are financially literate to being able to better manage their finances. When the beneficiaries are not adequately skilled regarding personal finance management skills, they could misuse such funds and this could result in these beneficiaries failing to complete their studies. This study contributed to the identified knowledge gap by investigating the mediating effect of financial literacy on the relationship between financial behaviour and financial well-being on budget intentions among South African university students. This study included quantitative research methods and questionnaires were used as the primary means of collecting the data. The sample included 204 participants from the University of Fort Hare. The final sample yielded a total response rate of 81.6%. A cross sectional research design was used for this study. Convenience sampling was used in this study. The researcher made use of student leaders to distribute and collect questionnaires. This study included 14 hypotheses. The dependent variables included Budget Intentions and Financial Literacy. The independent variables included Financial Well-being and Financial Behaviour. Self-control as a financial behaviour predicted university students’ budget intentions. Individuals with better self-control were more likely to forgo indulgences and focus on the long-term goals, thereby sticking to a budget. Optimism significantly predicted budget intentions of university learners. People who tend to engage in deliberate thinking more often are more likely to better manage their personal finances through budgeting. Individuals who have more positive financial attitude were more satisfied with their financial situation implying that they undertake planning and budgeting as far as finance issues are concerned. Financial socialisation from a parental perspective significantly influenced university students’ financial behaviour, namely, financial teaching, monitoring and modelling. People with better self-control are more likely to practise saving in almost every income flowing to them. Financial behaviour, particularly, deliberating thinking significantly predicted financial literacy. Positive financial behaviours such as being financial literate such as a reduction in day-to-day expenses were found to be associated with lower financial anxiety levels. Financial behaviours including positive financial attitude significantly predicted financial literacy. Individuals who had their financial issues monitored by parents for the purpose of earning advice and tips on financial matters were positively behaving pointing to the notion that they were financial literate and knowledgeable. The implication of the study is that management of institutions of higher learning should encourage students to practise self-control behaviour regarding their finances in order to improve budget intentions. It is also recommended that the Universities management should design short courses where students can be trained on or made aware of the importance of self-control as much as good financial behaviour is concerned.
- Full Text:
- Date Issued: 2020
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