Liquidity risk management by Zimbabwean commercial banks
- Authors: Chikoko, Laurine
- Date: 2012
- Subjects: Liquidity (Economics) , Banks and banking -- Zimbabwe
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:9027 , http://hdl.handle.net/10948/d1020344
- Description: Macroeconomic and financial market developments in Zimbabwe since 2000 have led to an increase in many banks‟ overall exposure to liquidity risk. The thesis highlights the importance of understanding and building comprehensive liquidity frameworks as defenses against liquidity stress. This study explores liquidity and liquidity risk management practices as well as the linkages and factors that affected different types of liquidity in the Zimbabwean banking sector during the Zimbabwean dollar and multiple currency eras. The research sought to present a comprehensive analysis of Zimbabwean commercial banks‟ liquidity risk management in challenging operating environments. Two periods were selected: January 2000 to December 2008 (the Zimbabwean dollar era) and March 2009 to June 2011 (the multiple currency era). Explanatory and survey research designs were used. The study applied econometric modeling using panel regression analysis to identify the major determinants of liquidity risk for 15 commercial banks in Zimbabwe. The financing gap ratio was used as the proxy for liquidity risk. The first investigation was on liquidity risk determinants in the Zimbabwean dollar era. The econometric investigations revealed that an increase in capital adequacy reduced liquidity risk and that there was a positive relationship between size and bank illiquidity. Liquidity risk was also explained by spreads. Inflation was positively related to liquidity risk and was a significant explanatory variable. Non-performing loans were not significant in explaining commercial banks‟ illiquidity, which is contrary to expectations. The second investigation was on commercial banks‟ liquidity risk determinants in the multiple currency era by using panel monthly data. The results showed that capital adequacy had a significant negative relationship with liquidity risk. The size of the bank was significant and positively related to bank illiquidity. Unlike in the Zimbabwean dollar era, spreads were negatively related to bank liquidity risk. Again, non-performing loans were a significant explanatory variable. The reserve requirements ratio and inflation also influenced bank illiquidity in the multiple currency regime. In both investigations, robustness tests for the main findings were done with an alternative dependent variable to the financing gap ratio. To complement the econometric analysis, a survey was conducted using questionnaires and interviews for the same 15 commercial banks. Empirical analysis in this research showed that during the 2000-2008 era; (i) no liquidity risk management guidelines were issued by the Reserve Bank of Zimbabwe until 2007. Banks relied on internal efforts in managing liquidity risk (ii) Liquidity was managed daily by treasury (iii) The operating environment was challenging with high inflation rates, which led to high demand for cash withdrawals by depositors (iv) Locally owned banks were more exposed to liquidity risk as compared to the foreign owned banks (v) Major sources of funds were new deposits, retention of maturities, shareholders, interbank borrowings, offshore lines of credit and also banks relied on the Reserve Bank of Zimbabwe as the lender of last resort (vi) Financial markets were active and banks offered a wide range of products (vii) To manage liquidity from depositors, banks relied on cash reserves, calculating and analysing the withdrawal patterns. When faced with cash shortages, banks relied on the daily limits set by the Reserve Bank of Zimbabwe (viii) Banks were lending but when the challenges deepened, they lent less in advances and increased investment in government securities. (ix) Inflation had major effects on liquidity risk management as it affected demand deposit tenors, fixed term products, corporate sector deposit mobilisation, cost of funds and investment portfolios (x) The regulatory environment was not favourable with RBZ policy measures designed to arrest inflation having negative repercussions on banks` liquidity management (xi) Banks had no liquidity crisis management frameworks. During the multiple currency exchange rate system (i) Commercial banks had problems in sourcing funds. They were mainly funded by transitory deposits with little coming in from treasury activities, interbank activities and offshore lines of credit. There was no lender of last resort function by the Reserve Bank of Zimbabwe. (ii) Some banks were still struggling to raise the minimum capital requirements (iii) Commercial banks offered narrow product ranges to clients (iv) To manage liquidity demand from clients, banks relied on the cash reserve ratio, and calculated the patterns of withdrawal, while some banks communicated with corporate clients on withdrawal schedules. (v) Zimbabwe commercial banks resumed the lending activity after dollarisation. Locally owned banks were aggressive, while foreign owned banks took a passive stance. There were problems with non-performing loans, especially from corporate clients, which exposed many banks to liquidity risk. (vi) Liquidity risk management in Zimbabwe was still guided by the Reserve Bank of Zimbabwe Risk Management Guideline BSD-04, 2007. All banks had liquidity risk management policies and procedure manuals but some banks were not adhering to them. Banks also had liquidity risk limits in place but some violated them. Furthermore, some banks were not conducting stress tests. Although all banks had contingency plans in place, none were testing them. Specifically, the research study highlighted the potential sources of liquidity risk in the Zimbabwean dollar and multiple currency periods. Based on the results, the study recommends survival strategies for banks in managing liquidity risk in such environments. It proposes a comprehensive liquidity management framework that clearly identifies, measures and control liquidity risk consistent with bank-specific and the country‟s macroeconomic developments. The envisaged framework would assist banks in dealing with illiquidity in a manner that would be less disruptive and that could render any future crisis less painful. Of importance is the recommendation that the central bank might not need to be too strict or too relaxed, but be moderate in ensuring an enabling regulatory environment. This would help banks to manage liquidity risk and at the same time protect depositors in any challenging operating environment. In both the studied time periods, there were transitory deposits. Generally there is need to inculcate a savings culture in Zimbabwe.
- Full Text:
- Date Issued: 2012
- Authors: Chikoko, Laurine
- Date: 2012
- Subjects: Liquidity (Economics) , Banks and banking -- Zimbabwe
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:9027 , http://hdl.handle.net/10948/d1020344
- Description: Macroeconomic and financial market developments in Zimbabwe since 2000 have led to an increase in many banks‟ overall exposure to liquidity risk. The thesis highlights the importance of understanding and building comprehensive liquidity frameworks as defenses against liquidity stress. This study explores liquidity and liquidity risk management practices as well as the linkages and factors that affected different types of liquidity in the Zimbabwean banking sector during the Zimbabwean dollar and multiple currency eras. The research sought to present a comprehensive analysis of Zimbabwean commercial banks‟ liquidity risk management in challenging operating environments. Two periods were selected: January 2000 to December 2008 (the Zimbabwean dollar era) and March 2009 to June 2011 (the multiple currency era). Explanatory and survey research designs were used. The study applied econometric modeling using panel regression analysis to identify the major determinants of liquidity risk for 15 commercial banks in Zimbabwe. The financing gap ratio was used as the proxy for liquidity risk. The first investigation was on liquidity risk determinants in the Zimbabwean dollar era. The econometric investigations revealed that an increase in capital adequacy reduced liquidity risk and that there was a positive relationship between size and bank illiquidity. Liquidity risk was also explained by spreads. Inflation was positively related to liquidity risk and was a significant explanatory variable. Non-performing loans were not significant in explaining commercial banks‟ illiquidity, which is contrary to expectations. The second investigation was on commercial banks‟ liquidity risk determinants in the multiple currency era by using panel monthly data. The results showed that capital adequacy had a significant negative relationship with liquidity risk. The size of the bank was significant and positively related to bank illiquidity. Unlike in the Zimbabwean dollar era, spreads were negatively related to bank liquidity risk. Again, non-performing loans were a significant explanatory variable. The reserve requirements ratio and inflation also influenced bank illiquidity in the multiple currency regime. In both investigations, robustness tests for the main findings were done with an alternative dependent variable to the financing gap ratio. To complement the econometric analysis, a survey was conducted using questionnaires and interviews for the same 15 commercial banks. Empirical analysis in this research showed that during the 2000-2008 era; (i) no liquidity risk management guidelines were issued by the Reserve Bank of Zimbabwe until 2007. Banks relied on internal efforts in managing liquidity risk (ii) Liquidity was managed daily by treasury (iii) The operating environment was challenging with high inflation rates, which led to high demand for cash withdrawals by depositors (iv) Locally owned banks were more exposed to liquidity risk as compared to the foreign owned banks (v) Major sources of funds were new deposits, retention of maturities, shareholders, interbank borrowings, offshore lines of credit and also banks relied on the Reserve Bank of Zimbabwe as the lender of last resort (vi) Financial markets were active and banks offered a wide range of products (vii) To manage liquidity from depositors, banks relied on cash reserves, calculating and analysing the withdrawal patterns. When faced with cash shortages, banks relied on the daily limits set by the Reserve Bank of Zimbabwe (viii) Banks were lending but when the challenges deepened, they lent less in advances and increased investment in government securities. (ix) Inflation had major effects on liquidity risk management as it affected demand deposit tenors, fixed term products, corporate sector deposit mobilisation, cost of funds and investment portfolios (x) The regulatory environment was not favourable with RBZ policy measures designed to arrest inflation having negative repercussions on banks` liquidity management (xi) Banks had no liquidity crisis management frameworks. During the multiple currency exchange rate system (i) Commercial banks had problems in sourcing funds. They were mainly funded by transitory deposits with little coming in from treasury activities, interbank activities and offshore lines of credit. There was no lender of last resort function by the Reserve Bank of Zimbabwe. (ii) Some banks were still struggling to raise the minimum capital requirements (iii) Commercial banks offered narrow product ranges to clients (iv) To manage liquidity demand from clients, banks relied on the cash reserve ratio, and calculated the patterns of withdrawal, while some banks communicated with corporate clients on withdrawal schedules. (v) Zimbabwe commercial banks resumed the lending activity after dollarisation. Locally owned banks were aggressive, while foreign owned banks took a passive stance. There were problems with non-performing loans, especially from corporate clients, which exposed many banks to liquidity risk. (vi) Liquidity risk management in Zimbabwe was still guided by the Reserve Bank of Zimbabwe Risk Management Guideline BSD-04, 2007. All banks had liquidity risk management policies and procedure manuals but some banks were not adhering to them. Banks also had liquidity risk limits in place but some violated them. Furthermore, some banks were not conducting stress tests. Although all banks had contingency plans in place, none were testing them. Specifically, the research study highlighted the potential sources of liquidity risk in the Zimbabwean dollar and multiple currency periods. Based on the results, the study recommends survival strategies for banks in managing liquidity risk in such environments. It proposes a comprehensive liquidity management framework that clearly identifies, measures and control liquidity risk consistent with bank-specific and the country‟s macroeconomic developments. The envisaged framework would assist banks in dealing with illiquidity in a manner that would be less disruptive and that could render any future crisis less painful. Of importance is the recommendation that the central bank might not need to be too strict or too relaxed, but be moderate in ensuring an enabling regulatory environment. This would help banks to manage liquidity risk and at the same time protect depositors in any challenging operating environment. In both the studied time periods, there were transitory deposits. Generally there is need to inculcate a savings culture in Zimbabwe.
- Full Text:
- Date Issued: 2012
Management perceptions regarding privatisation of parastatals in Zimbabwe
- Authors: Tshuma, Edward
- Date: 2012
- Subjects: Privatization -- Zimbabwe , Government business enterprises -- Zimbabwe , Zimbabwe -- Economic policy
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:9324 , http://hdl.handle.net/10948/d1020923
- Description: In recent years the ownership of public organisations has been transferred from government to the private sector through privatisation owing to the poor performance of parastatals. In Zimbabwe, the privatisation of parastatals has been criticised as a result of the approach which has been adopted to privatise them, the transparency and the paceof the privatisation, the factors pushing for privatisation at the expense of local demand as well as the lack of an institutional framework for privatisation. The main objective of this study was to explore management perceptions regarding the privatisation of parastatals in Zimbabwe. This study is based on a combination of theories of privatisation and preceding results of studies looking at privatisation of parastatals in developing and developed countries. The secondary sources were the backbone in the formulation of a theoretical model on the management perceptions of privatisation which was used to guide this study. The extensive literature which was analysed revealed that independent factors such as stakeholder consultation, business conditions, government considerations, institutional framework and management of the privatisation process could influence management perceptions regarding privatisation. Perceptions of privatisation were identified as influencing two dependent variables, economic benefits and organisational performance. The variables of the study were operationalised and the hypotheses which identified relationships between the independent variables and perceptions of privatisation were formulated. Hypotheses in respect of perceptions of privatisation and the dependent variables were also formulated. In this study, a quantitative research approach was adopted as the study sought to investigate the relationships between variables. This study collected data through the use of a structured self-administered survey questionnaire which was distributed to 700 managers of parastatals in Zimbabwe. The parastatals which were used in this study were selected using the simple random sampling method whilst convenience sampling technique was used to select the managers. The survey yielded 301 usable questionnaires which were analysed using several statistical analysis techniques. The major findings of this study show that managers, employees and customers participate during privatisation and that privatisation in Zimbabwe is guided by a formal action plan. The study also showed that parastatals in Zimbabwe operate under stable macroeconomic conditions and that information regarding the bidding process is accessible to all parties. However, the results also showed that, in Zimbabwe privatisation is poorly implemented as a result of lack of structural capacity to enhance privatisation, lack of an autonomous institution to manage and lead the privatisation process. The results also show that privatisation in Zimbabwe lacks credibility as the valuation of organisations and assets is poorly done resulting in organisations being acquired at rates which are below market value. In addition, the results indicate that privatisation has failed to improve organisational performance and to change the management style from being reactive to being proactive. The study also found that privatisation brings about economic benefits such as effective governance and economic empowerment. The study recommends that government should ensure that managers, employees and customers participate in the privatisation process and that privatisation is implemented in a transparent manner so as to have a credible programme and achieve the intended objectives. The study also recommends that government should engage people and institutions which have the capacity to efficiently value the organisations and assets identified for privatisation. In addition, the study recommends that the government should appoint board members who possess the requisite skills and competencies, encourage partnerships between local and foreign investors so as to produce quality products and services as well as economic growth. This study has contributed to the existing body of knowledge by developing a theoretical model which can be utilised in other developing countries to test perceptions regarding the privatisation of parastatals. This study could assist the government, parastatals and other stakeholders by providing feedback regarding the privatisation of parastatals in Zimbabwe, so that remedial action can be implemented where deviations are recorded. The findings of this study could also assist the government of Zimbabwe and also other governments, by providing guidelines which can be adopted to implement a successful privatisation programme. This study provides useful and very practical guidelines to parastatals so as to ensure successful privatisation.
- Full Text:
- Date Issued: 2012
- Authors: Tshuma, Edward
- Date: 2012
- Subjects: Privatization -- Zimbabwe , Government business enterprises -- Zimbabwe , Zimbabwe -- Economic policy
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:9324 , http://hdl.handle.net/10948/d1020923
- Description: In recent years the ownership of public organisations has been transferred from government to the private sector through privatisation owing to the poor performance of parastatals. In Zimbabwe, the privatisation of parastatals has been criticised as a result of the approach which has been adopted to privatise them, the transparency and the paceof the privatisation, the factors pushing for privatisation at the expense of local demand as well as the lack of an institutional framework for privatisation. The main objective of this study was to explore management perceptions regarding the privatisation of parastatals in Zimbabwe. This study is based on a combination of theories of privatisation and preceding results of studies looking at privatisation of parastatals in developing and developed countries. The secondary sources were the backbone in the formulation of a theoretical model on the management perceptions of privatisation which was used to guide this study. The extensive literature which was analysed revealed that independent factors such as stakeholder consultation, business conditions, government considerations, institutional framework and management of the privatisation process could influence management perceptions regarding privatisation. Perceptions of privatisation were identified as influencing two dependent variables, economic benefits and organisational performance. The variables of the study were operationalised and the hypotheses which identified relationships between the independent variables and perceptions of privatisation were formulated. Hypotheses in respect of perceptions of privatisation and the dependent variables were also formulated. In this study, a quantitative research approach was adopted as the study sought to investigate the relationships between variables. This study collected data through the use of a structured self-administered survey questionnaire which was distributed to 700 managers of parastatals in Zimbabwe. The parastatals which were used in this study were selected using the simple random sampling method whilst convenience sampling technique was used to select the managers. The survey yielded 301 usable questionnaires which were analysed using several statistical analysis techniques. The major findings of this study show that managers, employees and customers participate during privatisation and that privatisation in Zimbabwe is guided by a formal action plan. The study also showed that parastatals in Zimbabwe operate under stable macroeconomic conditions and that information regarding the bidding process is accessible to all parties. However, the results also showed that, in Zimbabwe privatisation is poorly implemented as a result of lack of structural capacity to enhance privatisation, lack of an autonomous institution to manage and lead the privatisation process. The results also show that privatisation in Zimbabwe lacks credibility as the valuation of organisations and assets is poorly done resulting in organisations being acquired at rates which are below market value. In addition, the results indicate that privatisation has failed to improve organisational performance and to change the management style from being reactive to being proactive. The study also found that privatisation brings about economic benefits such as effective governance and economic empowerment. The study recommends that government should ensure that managers, employees and customers participate in the privatisation process and that privatisation is implemented in a transparent manner so as to have a credible programme and achieve the intended objectives. The study also recommends that government should engage people and institutions which have the capacity to efficiently value the organisations and assets identified for privatisation. In addition, the study recommends that the government should appoint board members who possess the requisite skills and competencies, encourage partnerships between local and foreign investors so as to produce quality products and services as well as economic growth. This study has contributed to the existing body of knowledge by developing a theoretical model which can be utilised in other developing countries to test perceptions regarding the privatisation of parastatals. This study could assist the government, parastatals and other stakeholders by providing feedback regarding the privatisation of parastatals in Zimbabwe, so that remedial action can be implemented where deviations are recorded. The findings of this study could also assist the government of Zimbabwe and also other governments, by providing guidelines which can be adopted to implement a successful privatisation programme. This study provides useful and very practical guidelines to parastatals so as to ensure successful privatisation.
- Full Text:
- Date Issued: 2012
Management perceptions regarding skills shortages in gold mines
- Authors: Xingwana, Lumkwana
- Date: 2012
- Subjects: Labor supply--South Africa , Professional employees--South Africa , Occupational training--South Africa , Gold mines and mining--South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:9279 , http://hdl.handle.net/10948/d1007959 , Labor supply--South Africa , Professional employees--South Africa , Occupational training--South Africa , Gold mines and mining--South Africa
- Description: The skills shortages in mining and mineral sector had existed for a decade and had a widespread effect on South Africa economy. It affects the level of economic productivity and reduces the country’s capacity to develop a knowledge society. This, in turn, affects the country’s functioning in the global economy. Despite the sector’s best efforts, the shortages continue to grow and threaten the delivery of projects and growth plans. Some researchers contend with the view that the persistence of skills shortages in mining and mineral sector is largely due to entrenched attitudes among both the industry and the community. They claim that employers have the means to change the educational profile of the subsectors by appointing recruits with higher levels of schooling. However, owing to the limited number of higher educated people living in the communities surrounding the mining operations and lack of interest in mining of people with higher levels of education, to name but few, employers are perceived to have a habit of employing people with little skills. The current study was aimed at investigating the impact of skills shortage on organisational performance, propensity to leave, competitive advantage and sustainability, from the management perceptive. The main objective of this study was to incorporate and embed previous research findings and theories into a comprehensive hypothetical model. A hypothetical model showed various factors that may influence skills shortage. Four independent variables (working environment, employment conditions, resources and education and training) were identified as variables that may influence skills shortage; and mediating variable (skills shortage) was also identified as a variable that have potential to affect dependent variables (organisational performance, propensity to leave, competitive advantage and sustainability) of gold mining sector. Furthermore, eight hypotheses were developed to test the relationship between independent, mediating and dependent variables. All these variables were clearly defined and operationalized with various items obtained from measuring instruments used in other similar studies. A purposive sample of 343 respondents was drawn from the population. A seven-point Likert scale and structured questionnaire were administered in person to the respondents and of which 300 were usable and subjected further to several statistical analyses. The validity and reliability of the measuring instrument was evaluated using significant effect p< = 0.001 and Pearson’s correlation test (α = 0.05). Data gathered were fed to and analysed by STATISTICA (version 10) and factor analysis and regression analyses were the statistical procedures used to test the significance of the relationships between the various independent and dependent variables. Consequently, working environment, resources and education and training were three independent variables that were identified as having ability to predict propensity to leave, competitive advantage and sustainability. An attempt was made to establish whether various demographic variables have an influence on mediating and dependent variables through the introduction of gender and position in the organisation while conducting an Analysis of Variance and Multiple linear regressions, but they obtained negative values. The conclusion is that demographic variables do not have over mediating and depended variables. The findings of this study states that with conducive working environment, availability of resources, the high levels of education and training, the country could produce skills that would reduce propensity to leave, drive competitive advantage and sustainability, innovation and entrepreneurship, create competitive advantages and boost employment sustainability.
- Full Text:
- Date Issued: 2012
- Authors: Xingwana, Lumkwana
- Date: 2012
- Subjects: Labor supply--South Africa , Professional employees--South Africa , Occupational training--South Africa , Gold mines and mining--South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:9279 , http://hdl.handle.net/10948/d1007959 , Labor supply--South Africa , Professional employees--South Africa , Occupational training--South Africa , Gold mines and mining--South Africa
- Description: The skills shortages in mining and mineral sector had existed for a decade and had a widespread effect on South Africa economy. It affects the level of economic productivity and reduces the country’s capacity to develop a knowledge society. This, in turn, affects the country’s functioning in the global economy. Despite the sector’s best efforts, the shortages continue to grow and threaten the delivery of projects and growth plans. Some researchers contend with the view that the persistence of skills shortages in mining and mineral sector is largely due to entrenched attitudes among both the industry and the community. They claim that employers have the means to change the educational profile of the subsectors by appointing recruits with higher levels of schooling. However, owing to the limited number of higher educated people living in the communities surrounding the mining operations and lack of interest in mining of people with higher levels of education, to name but few, employers are perceived to have a habit of employing people with little skills. The current study was aimed at investigating the impact of skills shortage on organisational performance, propensity to leave, competitive advantage and sustainability, from the management perceptive. The main objective of this study was to incorporate and embed previous research findings and theories into a comprehensive hypothetical model. A hypothetical model showed various factors that may influence skills shortage. Four independent variables (working environment, employment conditions, resources and education and training) were identified as variables that may influence skills shortage; and mediating variable (skills shortage) was also identified as a variable that have potential to affect dependent variables (organisational performance, propensity to leave, competitive advantage and sustainability) of gold mining sector. Furthermore, eight hypotheses were developed to test the relationship between independent, mediating and dependent variables. All these variables were clearly defined and operationalized with various items obtained from measuring instruments used in other similar studies. A purposive sample of 343 respondents was drawn from the population. A seven-point Likert scale and structured questionnaire were administered in person to the respondents and of which 300 were usable and subjected further to several statistical analyses. The validity and reliability of the measuring instrument was evaluated using significant effect p< = 0.001 and Pearson’s correlation test (α = 0.05). Data gathered were fed to and analysed by STATISTICA (version 10) and factor analysis and regression analyses were the statistical procedures used to test the significance of the relationships between the various independent and dependent variables. Consequently, working environment, resources and education and training were three independent variables that were identified as having ability to predict propensity to leave, competitive advantage and sustainability. An attempt was made to establish whether various demographic variables have an influence on mediating and dependent variables through the introduction of gender and position in the organisation while conducting an Analysis of Variance and Multiple linear regressions, but they obtained negative values. The conclusion is that demographic variables do not have over mediating and depended variables. The findings of this study states that with conducive working environment, availability of resources, the high levels of education and training, the country could produce skills that would reduce propensity to leave, drive competitive advantage and sustainability, innovation and entrepreneurship, create competitive advantages and boost employment sustainability.
- Full Text:
- Date Issued: 2012
Nation branding: case study of Zimbabwe
- Authors: Sena, Steven
- Date: 2012
- Subjects: Branding (Marketing) -- Zimbabwe , Nation-building -- Zimbabwe , Sports and tourism -- Zimbabwe
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:9303 , http://hdl.handle.net/10948/d1015616
- Description: Every nation exists as a brand with either positive or negative attributes and any other nation and individual that interact with it either will positively or negatively contribute to its nation image. A nation’s brand image may have evolved over many years, shaped by wars, religion, diplomacy or the lack of it, international sporting triumph or disasters, and by the brand itself. Zimbabwe as a nation is suffering from a negative image gained during 2000-2008 that has been characterised by inter alia the fast track land reform programme, political instability, corruption, hyperinflation, and so forth. The country has experienced a major transformation in its political environment that has had a positive effect on all sectors of national development. The new inclusive government, thriving on national unity has seen the people of Zimbabwe combining effort to work together to sustain the development of the country. The aim of this study was to investigate how nation branding for Zimbabwe can help the country to brand itself as a safe destination for tourists, investors, and visitors. The major question therefore, pertains to how all sectors in the economy of Zimbabwe can combine their efforts to brand Zimbabwe and make it compete more efficiently at all levels. Empirical findings revealed that tourist attractions have a positive relationship with nation branding. The empirical results also indicated that entertainment events have a positive relationship with nation branding. It can be recommended that Zimbabwe needs to identify tourist attractions and entertainment events to increase its nation branding. The empirical results of the study also indicated that nation branding has a positive relationship with nation building in Zimbabwe. It was also shown that nation branding has a positive relationship with good governance in Zimbabwe. These results indicate that it would be easier to build the Zimbabwean nation when its brand is strong. Good governance, on the other hand, will increase if the nation’s branding improves.
- Full Text:
- Date Issued: 2012
- Authors: Sena, Steven
- Date: 2012
- Subjects: Branding (Marketing) -- Zimbabwe , Nation-building -- Zimbabwe , Sports and tourism -- Zimbabwe
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:9303 , http://hdl.handle.net/10948/d1015616
- Description: Every nation exists as a brand with either positive or negative attributes and any other nation and individual that interact with it either will positively or negatively contribute to its nation image. A nation’s brand image may have evolved over many years, shaped by wars, religion, diplomacy or the lack of it, international sporting triumph or disasters, and by the brand itself. Zimbabwe as a nation is suffering from a negative image gained during 2000-2008 that has been characterised by inter alia the fast track land reform programme, political instability, corruption, hyperinflation, and so forth. The country has experienced a major transformation in its political environment that has had a positive effect on all sectors of national development. The new inclusive government, thriving on national unity has seen the people of Zimbabwe combining effort to work together to sustain the development of the country. The aim of this study was to investigate how nation branding for Zimbabwe can help the country to brand itself as a safe destination for tourists, investors, and visitors. The major question therefore, pertains to how all sectors in the economy of Zimbabwe can combine their efforts to brand Zimbabwe and make it compete more efficiently at all levels. Empirical findings revealed that tourist attractions have a positive relationship with nation branding. The empirical results also indicated that entertainment events have a positive relationship with nation branding. It can be recommended that Zimbabwe needs to identify tourist attractions and entertainment events to increase its nation branding. The empirical results of the study also indicated that nation branding has a positive relationship with nation building in Zimbabwe. It was also shown that nation branding has a positive relationship with good governance in Zimbabwe. These results indicate that it would be easier to build the Zimbabwean nation when its brand is strong. Good governance, on the other hand, will increase if the nation’s branding improves.
- Full Text:
- Date Issued: 2012
Rural livelihood diversification in semi-arid districts of Zimbabwe : an analysis of Muzarabani, Gokwe and Mwenezi districts
- Authors: Musevenzi, Julius
- Date: 2012
- Subjects: Rural development -- Zimbabwe , Rural poor -- Zimbabwe , Zimbabwe -- Rural conditions
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:9149 , http://hdl.handle.net/10948/d1018922
- Description: This study focuses on rural livelihood diversification and improvement in dry districts of Zimbabwe during the period from 2000 to 2010. It establishes and documents livelihood activities and interventions in three semi-arid districts in Zimbabwe, analyses evidence for rural livelihood diversification and improvement and related challenges, and analyses institutional and policy issues that determine rural livelihood development in the politically charged period from 2000 to 2010. Rural livelihood diversification and improvement is not a recent phenomenon. For years, rural people have diversified their livelihoods for different economic reasons. Despite several studies on rural livelihoods in Zimbabwe, no similar studies have been done to determine the types of livelihood diversification that occur in a politically charged environment and whether they improve people‟s livelihoods. The study was guided by both the sustainable livelihoods framework and the actor oriented approach. Qualitative methodology was used for the overall data collection. Firstly data was collected „from the top‟ through in-depth interviews with officials from government institutions, non-governmental organisations and community leadership structures. Secondly data was collected „from the bottom up‟ through selected participatory methods in study areas. The overall study findings show that despite having increased livelihood interventions in all semi-arid areas, the politically fraught atmosphere constrained livelihood improvement and poverty remained. Although evidence for livelihood diversification is undisputed in the study, the extent to which it contributed to livelihood improvement was limited. The extended period of political constraint reversed some of the livelihood improvement gains recorded by external interventions. As most of the support was targeted at addressing the immediate food needs of the poor in semi-arid districts, this affected the number of long-term interventions targeted at sustainable livelihood development. The study found that the changing policies and institutional arrangements constrained and limited the potential of some of the livelihood strategies adopted during the period under study and as a result most livelihood activities were limited to survival strategies. The study shows that despite a decline in agricultural production during the period under study, it remained the major livelihood activity. Agricultural activities such as cotton and maize production and livestock rearing experienced a decline, but were partially revived through external support from both the government and nongovernmental organisations. Agriculture as a livelihood activity largely benefited from external interventions that rehabilitated irrigation infrastructure and the provision of agricultural inputs during the period. However, despite the dominance of agriculture as a livelihood activity in semi-arid areas non-farm livelihood activities, both locally initiated and externally fostered, played a significant role in supporting rural livelihoods. Poaching and wild fruit harvesting provided food for immediate consumption, whilst gold and diamond panning, wood carving and the commercialisation of non-timber forest products generated cash income for rural livelihoods. Non-farm external livelihood interventions identified resulted in a number of rural livelihood development models important for future rural development. These models were developed around the commercialisation of non-timber forest products for cash income generation, rural human capital development through vocational skills training and rural small livestock asset development. Human capital resulted in the development of rural industry in the form of community based enterprises. Indirectly it also contributed to migrant labour that sent cash and goods back home. The study shows that it is evident that in a politically charged environment livelihood diversification has a range of positive effects. The re-emergence of the barter exchange economy in rural communities contributed to livelihood diversification although sustainability was limited. It is also possible for both barter exchange and the cash market to co-exist in a politically charged environment. The study also shows that traditional leadership and local authorities in study areas became more politicised and militarised and this diverted them from facilitating and supporting rural development and inhibited rural livelihood development efforts by different rural players. The study found that rural livelihoods are not static, and they adapted as best they could in the face of exogenous trends and shocks. Rural areas underwent deep transformations as a result of political dynamics, local livelihood initiatives and external livelihood support. Rural livelihoods changed as rural people devised combined livelihood strategies that went beyond farming. However, in contrast to the widely accepted argument that diversification plays an important role in poverty alleviation, this was clearly not the case in Zimbabwe‟s politically charged environment. This study contributes to the development debate with a case study on the type and extent of livelihood diversification strategies possible in a politically charged environment. Methodologically the study contributes to the possible application of a dual data collection system where data is collected from the top using different methods from those used to collect data from the bottom. This enriched the data at triangulation phase during analysis. The study also contributes to the understanding of the political economy, the type of rural livelihood development possible in politically charged environments, and to how rural people in Zimbabwe react and behave in an endeavour to survive. There was an increased role played by external interventions in livelihood diversification but the extent of their contribution to positive livelihood outcomes was constrained by the politically charged environment that prompted the interventions in the first place. The normal processes of policy development and implementation changed as the role of politicians in planning and implementation became evident and policy aims shifted from rural development to political party self-preservation.
- Full Text:
- Date Issued: 2012
- Authors: Musevenzi, Julius
- Date: 2012
- Subjects: Rural development -- Zimbabwe , Rural poor -- Zimbabwe , Zimbabwe -- Rural conditions
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:9149 , http://hdl.handle.net/10948/d1018922
- Description: This study focuses on rural livelihood diversification and improvement in dry districts of Zimbabwe during the period from 2000 to 2010. It establishes and documents livelihood activities and interventions in three semi-arid districts in Zimbabwe, analyses evidence for rural livelihood diversification and improvement and related challenges, and analyses institutional and policy issues that determine rural livelihood development in the politically charged period from 2000 to 2010. Rural livelihood diversification and improvement is not a recent phenomenon. For years, rural people have diversified their livelihoods for different economic reasons. Despite several studies on rural livelihoods in Zimbabwe, no similar studies have been done to determine the types of livelihood diversification that occur in a politically charged environment and whether they improve people‟s livelihoods. The study was guided by both the sustainable livelihoods framework and the actor oriented approach. Qualitative methodology was used for the overall data collection. Firstly data was collected „from the top‟ through in-depth interviews with officials from government institutions, non-governmental organisations and community leadership structures. Secondly data was collected „from the bottom up‟ through selected participatory methods in study areas. The overall study findings show that despite having increased livelihood interventions in all semi-arid areas, the politically fraught atmosphere constrained livelihood improvement and poverty remained. Although evidence for livelihood diversification is undisputed in the study, the extent to which it contributed to livelihood improvement was limited. The extended period of political constraint reversed some of the livelihood improvement gains recorded by external interventions. As most of the support was targeted at addressing the immediate food needs of the poor in semi-arid districts, this affected the number of long-term interventions targeted at sustainable livelihood development. The study found that the changing policies and institutional arrangements constrained and limited the potential of some of the livelihood strategies adopted during the period under study and as a result most livelihood activities were limited to survival strategies. The study shows that despite a decline in agricultural production during the period under study, it remained the major livelihood activity. Agricultural activities such as cotton and maize production and livestock rearing experienced a decline, but were partially revived through external support from both the government and nongovernmental organisations. Agriculture as a livelihood activity largely benefited from external interventions that rehabilitated irrigation infrastructure and the provision of agricultural inputs during the period. However, despite the dominance of agriculture as a livelihood activity in semi-arid areas non-farm livelihood activities, both locally initiated and externally fostered, played a significant role in supporting rural livelihoods. Poaching and wild fruit harvesting provided food for immediate consumption, whilst gold and diamond panning, wood carving and the commercialisation of non-timber forest products generated cash income for rural livelihoods. Non-farm external livelihood interventions identified resulted in a number of rural livelihood development models important for future rural development. These models were developed around the commercialisation of non-timber forest products for cash income generation, rural human capital development through vocational skills training and rural small livestock asset development. Human capital resulted in the development of rural industry in the form of community based enterprises. Indirectly it also contributed to migrant labour that sent cash and goods back home. The study shows that it is evident that in a politically charged environment livelihood diversification has a range of positive effects. The re-emergence of the barter exchange economy in rural communities contributed to livelihood diversification although sustainability was limited. It is also possible for both barter exchange and the cash market to co-exist in a politically charged environment. The study also shows that traditional leadership and local authorities in study areas became more politicised and militarised and this diverted them from facilitating and supporting rural development and inhibited rural livelihood development efforts by different rural players. The study found that rural livelihoods are not static, and they adapted as best they could in the face of exogenous trends and shocks. Rural areas underwent deep transformations as a result of political dynamics, local livelihood initiatives and external livelihood support. Rural livelihoods changed as rural people devised combined livelihood strategies that went beyond farming. However, in contrast to the widely accepted argument that diversification plays an important role in poverty alleviation, this was clearly not the case in Zimbabwe‟s politically charged environment. This study contributes to the development debate with a case study on the type and extent of livelihood diversification strategies possible in a politically charged environment. Methodologically the study contributes to the possible application of a dual data collection system where data is collected from the top using different methods from those used to collect data from the bottom. This enriched the data at triangulation phase during analysis. The study also contributes to the understanding of the political economy, the type of rural livelihood development possible in politically charged environments, and to how rural people in Zimbabwe react and behave in an endeavour to survive. There was an increased role played by external interventions in livelihood diversification but the extent of their contribution to positive livelihood outcomes was constrained by the politically charged environment that prompted the interventions in the first place. The normal processes of policy development and implementation changed as the role of politicians in planning and implementation became evident and policy aims shifted from rural development to political party self-preservation.
- Full Text:
- Date Issued: 2012
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