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- Item‘Visible Hectares, Vanishing Livelihoods’: A case of the Fast Track Land Reform and Resettlement Programme in southern Matabeleland - Zimbabwe(University of Fort Hare, 2010) Mabhena, CliffordLand reform has been going on in Zimbabwe since the state attained independence from Britain in 1980 as a way of enhancing agrarian livelihoods for the formerly marginalized people. This study argues that, the Land Reform Programme in Southern Matabeleland rather than enhancing agrarian livelihoods, well established livelihoods have actually been drastically reduced. This has been exacerbated by the state programme of land re-distribution that prescribes a „one size fits all‟ model. Yet this is contrary to the thinking in development discourse that equitable land distribution increases rural livelihoods. As a way of gathering data this study utilized ethnography and case study methodologies. I spent two years interacting and interviewing purposively selected new resettles, communal residents, migrant workers and gold panners in this region. Results from this study confirm that, land reform has greatly reduced livelihoods, particularly agrarian livelihoods. Also, this research has found out that, the majority of residents now depend on off-farm livelihoods such as gold panning and migration to neighbouring South Africa. This thesis therefore concludes that, despite a massive expropriation of former commercial farms, people of Southern Matabeleland have not benefitted much as the village settlements (A1) and the small size farms (A2) have not received support from this live-stocking community. People in this region pin their hopes on livestock rearing to sustain their livelihoods and this study therefore recommends that, any agrarian transformation programmes should address the issues that promote livestock rearing.
- ItemAssessing the impacts of conservation agriculture on farmer livelihoods in three selected communities in central Mozambique(University of Natural Resources and Life Sciences, 2011) Nkala, PeterAgriculture is the major source of livelihood for more than 80% of the people in Mozambique. Many years of cropping using slash-and-burn practices has resulted in negative environmental impacts which result in low crop productivity, food insecurity, hunger and malnutrition. During the last 20 years there have been a number of initiatives by rural development and research organizations working in partnership with the government to introduce environmentally friendly, more efficient and sustainable technologies, so as to restore soil fertility, improve moisture conservation and ensure increased crop productivity. Among these technologies, conservation agriculture has been promoted since 2007 by the International Centre for Tropical Agriculture (CIAT), the International Maize and Wheat Improvement Centre (CIMMYT) in collaboration with the Ministry of Agriculture (MINAG) in central Mozambique. Conservation Agriculture builds on three principles: minimal soil disturbance, permanent soil cover and crop rotation. This study assesses the alleged livelihoods benefits of conservation agriculture for smallholder farmers. These benefits include improving productivity, household income, food security and subsequently alleviating poverty. First, the benefits of conservation agriculture in southern Africa as reported in the literature were reviewed. Then empirical data was collected in the communities of Nhanguo, Pumbuto and Ruaca in central provinces of Manica and Sofala in Mozambique. The data was used to assess the differences between 75 households who had adopted (some) conservation agriculture techniques and 90 households who had not adopted any conservation agriculture techniques. Furthermore, how smallholder farmers are redesigning conservation agriculture was examined. Finally, the energy and labor efficiency of conservation agriculture was assessed. The results show that vulnerable livelihoods, lack of access to agricultural assets, lack of institutions supporting smallholder farmers are among the factors explaining the slow adoption of conservation agriculture in central Mozambique. Under these conditions conservation agriculture has only a weak impact on livelihood outcomes, mostly through a slight improvement in crop productivity. Farmers are actively engaged in redesigning all the three principles of permanent soil cover, minimum tillage and crop rotation, thus indicating that promoting conservation agriculture as a package may not be suitable for all categories of smallholder farmers. Finally, comparing energy use within conservation agriculture and conventional agriculture shows some efficiency gains. The study concludes that conservation agriculture is a complex technology whose short- and long-term benefits are not fully apparent. If smallholder farmers are to adopt the technology, a participatory approach to adapting the technology to their need might be more promising than the current transfer-oftechnology approach.
- ItemThe conundrum of conservation agriculture and livelihoods in Southern Africa(African Journal of Agricultural Research, 2011) Nkala, Peter; Mango, Nelson; Corbeels, Marc; Jan Veldwisch, Gert; Huising, JeoroenLow crop productivity, food insecurity, hunger and malnutrition; inadequate farming knowledge and skills, implements and inputs are characteristic of smallholder agriculture in Southern Africa. Many researchers argue that conservation agriculture can guarantee higher crop productivity, food security,improved livelihoods and environmental protection, better than the unsustainable traditional systems of slash and burn practices. In this paper, we present the results of a meta-analysis of over 40 academic publications to review conservation agriculture’s role in influencing desired livelihood outcomes in Southern Africa. We conclude that the effectiveness of conservation agriculture towards better livelihood outcomes in Southern Africa remains debatable, especially when supportive government policies are lacking.
- ItemLocal economic development and migrant remittances:in rural Zimbabwe: building on sand or solid ground?(International Institute of Social Studies, 2011-05) Ncube, Gracsious; Gómez, Georgina M.The paper explores the impact of migrant remittances on local economic development in a locality where more than half of the households have been recipients for at least five years. The study has taken place in rural Zimbabwe and uses an ethnographic method devised for this research. The method was termed “follow the money” and consists of a scrutiny of several rounds of economic exchange of goods and services in the locality, starting when households receive the cash. Consistent with previous research, the study found that remittances boost the consumption of receiving households and have a limited but positive effect on non-receiving households. Part of the cash transfers are used for equipment and investment, mostly in traditional agricultural activities. This study highlights that remittances are responsible for the creation of a significant number of jobs locally, although insecure and low waged, and a small number of growth-oriented businesses, mostly by non-recipients and oriented to the local market. The study highlights the potential for government intervention to further enterprise development with the last group of entrepreneurs in order to localise the longer-term effects of remittances.
- ItemThe Impact Of Conservation Agriculture On Food Security And Livelihoods In Mangwe District(2012) Tshuma, Nevel; Maphosa, Mandlenkosi; Ncube, Gracsious; Dube, Tomson; Dube, Zenzo L.This study assessed the impact of conservation agriculture (CA) on food security and livelihoods in Mangwe district. The paper is based on findings from a research conducted in three wards of Mangwe district. Data was collected through indepth interviews, semi-structured questionnaires and focus group discussions. Findings show that the adoption of CA is widespread within the District. Key among the findings is that while CA does improve yields per acreage, the improvement does not necessarily translate to improved food security. This is mainly due to climatic factors, including the poor rainfall experienced in the District and the nature of the CA practised. In terms of the impact of CA on livelihoods the study unravelled that CA does extend the range of livelihoods albeit, on a limited scale, through improved yields and income. However, this is also dependent on rainfall levels. The study concluded that while CA holds promise for the food insecure households in Mangwe, the way in which it is currently being practised is too labour intensive and it is necessary to consider the adoption of much more efficient practices especially in the preparation of land.
- ItemDo Urban Community Gardens Matter? : The Case of Bulawayo Metropolitan Province in Zimbabwe(Mediterranean Journal of Social Sciences, 2012-04) Sithole, Mkhokheli; Nkala, Peter; Dube, NqobizithaThis paper discusses the role of urban agriculture with a special focus on community gardens in urban food security and poverty alleviation in the three high density suburbs of Magwegwe North, Nketa and Nkulumane in Bulawayo metropolitan province of Zimbabwe. Urban agriculture in Zimbabwe is in two forms; one that violates local authority by-laws whereby open pieces of land are haphazardly cultivated and the form comprising authorised cultivation of urban gardens close to residential areas or on allocated land though, with limited renewable user rights, by the local authority to farmers. The study focuses on the different beneficiaries, crops grown, output and their contributions to the household diet and income. The research is largely qualitative and uses primary data collected from 15 interviews, 5 focus group discussions and observations on beneficiaries of community gardens in Magwegwe North, Nketa and Nkulumane high density suburbs. The results indicate that community gardens have become a significant source of fresh produce but the shortage of resources inputs, and environmental health risks remain paramount obstacles to realising the full potential of these gardens. We conclude that community gardens do increase access and household food security, diversity of diet and contribute immensely to poverty alleviation among urban households.
- ItemThe SAFEX-JIBAR Market Models(Scientific Research, 2012-11) Gumbo, VictorIt is possible to construct an arbitrage-free interest rate model in which the LIBOR rates follow a log-normal process leading to Black-type pricing formulae for caps and floors. The key to their approach is to start directly with modeling observed market rates, LIBOR rates in this case, instead of instantaneous spot rates or forward rates. This model is known as the LIBOR Market Model. We formulate the SAFEX-JIBAR market model based on the fact that the forward JIBAR rates follow a log-normal process. Formulae of the Black-type are deduced.
- ItemAn Analysis of Determinants of Private Investment in Zimbabwe for the Period 2009- 2011(Management Journals, 2013) Bayai, Innocent; Nyangara, DavisThe study set out to analyse the determinants of private investment post the introduction of the multi-currency system in Zimbabwe (2009-2011). This was prompted by the sluggish growth in private investment thereby crippling the economy’s growth on the large. Variables identified for the study include political risk, GDP, national savings, inflation, interest rates, public investment, trade terms and debt servicing. To enhance the analysis, the study assumed correlation analysis and multiple regression in an effort to examine how private investment related to each identified variable as well as the net effect of each variable on private investment. Though most results from correlation analysis are contrary to the research’s expectations, treating the variables for co and multicollinearity gave theory aligned results in regression analysis. The study, though not out rightly disregarding correlation results identifies political risk, interest rate, GDP, debt servicing and trade terms as key determinants of private investment over the study period. Key though is the realisation that, statistical significance of results is independent of the practicality of economic principles. In a bid to foster economic growth and increase private investment, the study recommends the promotion of political stability, the attraction of FDI, enabling a structured public-private dialogue and promoting Government investment in infrastructure development among others.
- ItemAn analysis challenges faced by Zimbabwean micro finance institutions in providing financial services to the poor and informal sector in the dollarised regime(Global Institute of Research and Education, 2013) Mutambanadzo, Tendekayivanhu; Bhiri, Thomas; Makunike, SmillerMicro-Finance Institutions (MFIs) play a pivotal role in the provision of services to the financially excluded population , particularly the poor and the informal sector. The study investigated the reasons behind the collapse and under- performance of MFIs in a dollarized regime. A survey research design was adopted targeting all 17 MFIs in Bulawayo inclusive of those that collapsed. The major finding was that MFIs are facing funding challenges. Most of them use limited personal funds to finance their businesses. In addition, the study also revealed that MFIs have poor corporate governance structures. Management Information Systems (MIS) have not been fully exploited. The major conclusion drawn from the study was that lack of funding is the major factor hindering the growth and development of MFIs in Zimbabwe. The main recommendation was that MFIs must be adequately regulated and be encouraged to have suitable governance structures in order to attract funding.
- ItemFinancial Sector Development and Economic Growth: Evidence from Zimbabwe(EconJournals, 2013) Ndlovu, GodfreyThe relationship between financial system development and economic development has attracted interest of a number of researchers all over the world, however institutional differences and capital allocation variations between and within economies, make it very difficult to generalize findings and thus increasing the need for country-specific studies. This study examines the causal relation between financial system development and economic growth from a Zimbabwean perspective, based on two inter-related broad aims, the first being the established of cointegration relationship between the two and the ultimate direction of the causal relationship. Using multivariate Granger causality test the study finds existence of demand following financial development in Zimbabwe, there is unidirectional causality from economic growth to financial development. Financial system development is therefore an outcome of the pressure for institutional development in capital markets and introduction of modernized financial instruments. As such policy concern should focus on trade liberalization and other related activities in order to spur economic growth, since financial system development is a passive reaction to economic growth. Such policies might include investment promotion and removal of barriers for foreign investments.
- ItemA Comparative Analysis of the Corporate Governance Practices in Multinational and Domestic Banks in Zimbabwe(Scholarlink Research Institute Journals, 2013) Ndlovu, Milton Webb; Bhiri, Thomas; Mutambanadzo, Tendekayivanhu; Hlahla, Blessing P.The Zimbabwean banking sector has been characterised by a number of corporate governance disorders. This study aimed at analysing the corporate governance practices by multinational banks in comparison to domestic banks in Zimbabwe. It was hoped that the research would reveal the corporate governance discrepancies between multinational and domestic banks and hence assist the Reserve Bank of Zimbabwe in pursuing its supervisory role as well as bring awareness to stakeholders in the banking industry. The research adopted a cross-sectional survey research design. The target population consisted of all commercial and merchant banks in Zimbabwe. Primary data was gathered through questionnaires and interviews. Secondary data was also analysed in the research. The selection of the banks to be included in the sample employed stratified random sampling to ensure representation from each key group of banks in the sample. The study revealed that the awareness on the importance of sound corporate governance practices was of substandard levels for both bank categories. Domestic banks, in particular, had more shortfalls compared to multinational banks. Results further revealed that domestic banks did not represent shareholders’ interests in their corporate governance practices and their levels of compliance to Reserve Bank of Zimbabwe’s corporate governance requirements was still lacking. Although corporate governance strategies by multinational banks were superior to domestic banks it was established that multinational banks needed to accept local central bank requirements on corporate governance as an engine to enhance their corporate governance strategies.
- ItemA Test of the Weak Form Efficiency of the Zimbabwe Stock Exchange After Currency Reform(2013-06) Mazviona, Batsirai Winmore; Nyangara, DavisThe Zimbabwean dollar lost its value and purpose as a medium of exchange as a result of the hyper inflation which had its greatest impact on the Zimbabwean economy between 2007 and 2008. The introduction of the multi-currency system, which entails the use of various foreign currencies to transact, resulted in the Zimbabwe Stock Exchange (ZSE) adopting the United States dollar (USD) as its main currency. The researchers investigated the weak form efficiency of the ZSE after introduction of the multi-currency system by testing if it is possible to create an excess return by the use of technical trading rules. According to the efficient market hypothesis (EMH) and the random walk theory, in an efficient market it is not possible to predict the future stock prices by analysing historical stock prices. The profitability of technical analysis and technical trading rules has been researched and debated extensively, but researchers are yet to reach a consensus. This article focuses exclusively on the ZSE. The purpose of this article is to test whether the ZSE exhibits weak form market efficiency. The data used to carry out the empirical study was obtained from the ZSE for the period 19 February 2009 to 28 June 2012. The efficiency of the ZSE is tested using the daily closing prices and indices over the aforementioned period. The data was then subjected to a number of tests namely auto-correlation, the runs test and the Q-statistic test. The results of the study provide evidence that the ZSE is not weak form efficient. This article adds to the existing body of knowledge and offers for the first time an investigation of the weak form efficiency on the ZSE following currency reform.
- ItemManaging Pension Funds in Zimbabwe: Ethical Issues and Challenges(David Publishing, 2013-07) Mazviona, Batsirai WinmoreThis article is motivated by the predicament that hit pensioners in Zimbabwe following the introduction of the multi-currency system. Zimbabwe experienced economic woes which rendered the Zimbabwean dollar worthless and consequently necessitating a switch to stable currencies. The pension assets and liabilities were invested in the local currency before the currency reform, and the result of the multi-currency system was a mismatch of the assets and liabilities of the pension funds financial position which led to paltry pension benefits. The nature of pension funds places a great responsibility on the stakeholders who are involved in running these schemes and therefore ensuring that reasonable expectation by beneficiaries is met. The article focuses on the core aspects surrounding the structure and managing of pension funds in Zimbabwe. The researcher investigated the roles of important stakeholders in the Zimbabwean pension industry, namely, government, trustees, investment managers, and actuaries. The article further delves into the ethical issues and challenges faced by those managing Zimbabwean pension funds. The researcher conducted a total of 30 personal interviews to collect primary data from professionals in the Zimbabwean pension industry which were split as follows: 10 trustees, 10 investment managers, and 10 actuarial consultants. Secondary data were also used in this study and it comprised of journals, newspaper articles, investment reports, and textbooks. The researcher recommends that pension funds develop sound corporate governance mechanisms that will encourage the best ethical practices among all of their stakeholders. The findings provide evidence for a need to empower pension fund trustees through training and introduction of a pension protection scheme. In addition, the current regulatory system needs to be reviewed to capture the changing economic environment upon which pensions funds operate.
- ItemDynamics of configuring and interpreting the disaster risk script: Experiences from Zimbabwe(AOSIS publishing, 2013-08-12) Bongo, Pathias P.; Chipangura, Paul; Sithole, Mkhokheli; Moyo, FunaPeople in Zimbabwe have been faced with disasters in different forms and at various levels. When people experience hazard events and disasters, they perceive these phenomena through lenses that are largely shaped by their local day-to-day experiences and some external influence. As they do this, they develop their own local conception of hazards and disasters, and they tend to model their response or preparedness through this. This article argues that on the basis of this premise, each society therefore develops its own unique and localised way of interpreting the disaster, which comes in the form of a ‘script’, that needs to be deciphered, read, analysed and understood within local priorities and knowledge systems. The hazard may be the same, say, fire, but as it occurs in different communities, they configure and read the fire script differently, hence spawning different response and prevention strategies. The way people anticipate, prepare for, and respond to a particular disaster stems from their perception of it, based on their own local conceptions of reality. The article argues that effective disaster risk reduction must focus on people’s holistic understanding of the unfolding scenario, thereby feeding into disaster risk early warning systems. For effective understanding of the utility of early warning systems, the socio-cultural processes involved in the ideation of the disaster cannot be ignored. It is also critical to examine people’s past experiences with external early warning systems, and how much faith they put in them.
- ItemSME Lending: Do Lending Technologies Matter? Sample Evidence from Zimbabwe(World Review of Business Research., 2013-10) Nyangara, DavisThis paper examines and tests the claim that bank lending technologies are responsible for the low volume of lending to SMEs in Zimbabwe. Based on a survey of directors of SMEs and bank lending officers, tests are conducted to determine if there is any evidence of discrimination against SMEs based on age, management, size, and information attributes. The study reveals that application of uniform lending criteria to SMEs and large corporates does not result in discrimination against SMEs based on age, size, management, or information attributes. Based on this evidence, the study submits that differences in SME lending between foreign and indigenous banks are due to factors other than their lending technologies. The study further provides rationale for collateral-based lending in the SMEs sector in Zimbabwe. The study however questions the static nature of lending technologies used by banks in Zimbabwe, in the wake of high nonperforming loans.
- ItemAn Investigation of Corporate Financial Strategies Used by Banking Institutions during the Hyper-Inflationary Period in Zimbabwe(MCSER Publishing, 2013-11) Mhlanga, Richard; Sibanda, MabuthoThe corporate investment and financing decision plays a pivotal role in the financial management of firms operating under any economic environment. This paper investigates and analyses corporate financial strategies employed by banking institutions during the hyperinflationary period in Zimbabwe. Descriptive statistics are employed and the results show that activity was high in the market for corporate control between 1997 and 2007. Despite economic meltdown and inflationary trends, evidence suggests that the banking industry in Zimbabwe recorded a phenomenal increase in public listings during the same period. Other capital raising activities like venture capital funding, rights issues and debt finance have also been extensively used by the banking industry. Dividend policy amongst most banking institutions showed a significant decline towards 2007 as banks sought to retain funds to sustain operations. These findings provide a view that firms follow a life cycle in the determination of the optimal investment and financing decisions even when operating in an uncertain environment. The paper concludes by suggesting several strategies to improve financial soundness of banks operating in an inflationary environment.
- ItemThe Philosophical and Methodological Approaches Used by Sport and Business Management Student Researchers in Zimbabwe(Global Institute for Research Education, 2013-11) Charumbira, Lysias TapiwanasheThe study was conducted to assess the philosophical and methodological challenges facing sport and business management student researchers in Zimbabwe. Document analysis was used to collect data by reviewing the methodologies used by one hundred undergraduate and postgraduate students from seven Zimbabwean Institutions in their final year research projects between 2005 and 2013. The results show that in most of the studies, the selection of research methodology was out of sync with the nature of the research problem and the use of positivist research tended to dominate. The results strongly mirror the incompatibility thesis of quantitative and qualitative purists which posits that qualitative and quantitative methods cannot be mixed. The continued emphasis on positivist approaches by Zimbabwean management researchers tends to limit their ability to discover the hidden complexities and dynamic socially constructed business and cultural contexts of the country’s management environment.
- ItemTeaching of ‘Entrepreneurship’ as a Subject in Zimbabwean Schools- What are the Appropriate Teaching Methods? – A Case Study of Bulawayo Metropolitan Schools.(Zimbabwe Journal of Science & Technology, 2014) Nani, Gwendoline, V.The study sought to find out the appropriateness of the teaching methods used in selected Bulawayo Metropolitan schools, to enable learners to be entrepreneurs. The qualitative approach comprising the case study design was employed in this study. Cluster and purposive sampling techniques were used to select 20 government primary school teachers; 30 government high school teachers teaching practical subjects; 20 government high school students doing practical subjects and 10 captains of industry. Semi-structured interviews with respondents split into focus groups were used to collect data from schools, while captains of industry were individually interviewed. The study found out that Entrepreneurship as a ‘stand-alone’ subject is not taught in government schools. The study revealed that learners are taught practical subjects in a bid to equip them with entrepreneurship skills. The lecture method is mainly used in conjunction with practical sessions for lesson delivery. The study also established that learners are not taught how to convert practical skills they acquire in class into setting up businesses which is what entrepreneurship should ultimately achieve. Learners have no input in the way they are taught. The teacher determines how the lessons are conducted thus rendering the teaching methods not fully appropriate. Furthermore, there is no collaboration with industry when developing these lessons. The study recommends the establishment of entrepreneurial centres to allow learners to identify business ideas, incubate these ideas and implement them into businesses with the mentorship of captains of industry. Such centres will not only equip learners with relevant entrepreneurship skills but also allow for flexibility, creativity and innovation in learning.
- ItemEnhancing food security through micro- irrigation: Evaluating the contribution of treadle pumps to household food security in Umzingwane district of Zimbabwe(2014) Maphosa, Mandlenkosi; Dube, Tomson; Dube, Zenzo L.; Ncube, Gracsious; Tshuma, NevelAmongst a plethora of challenges facing the African continent today is the food security issue. Close to 240 million people in sub-Saharan Africa are food insecure (Bremner, 2012). A number of reasons have been advanced to explain the food insecurity situation of which inter-alia include climate change, low food and agricultural productivity and production. This article is centred on assessing the use of treadle pumps micro irrigation technologies strategy in an attempt to counter low food and agricultural productivity in Umzingwane district of Zimbabwe. Both qualitative and quantitative approaches were used with data being collected through questionnaires, focus group discussions and key informant interviews. A total of 100 smallholder farmers participated in the study which covered 6 Wards. Study findings reveal that the use of treadle pumps improves household food security though this inevitably comes at a cost to the natural environment. This is largely due to the way in which this form of micro-irrigation is practiced in the District. However, notwithstanding the positive contribution of treadle pumps to household food security, the use of these pumps is fraught with a number of challenges some of which include lack of backup services, spares, marketing and an unsupportive institutional environment.
- ItemAn Essay on the Ethical and Corporate Governance Issues in the 2003/4 Zimbabwean Banking Crisis(OMICS Publishing Group, 2014) Nyangara, Davis; Nyangara, Melody R.; Mazviona, Batsirai WinmoreThis paper reviews the ethical and corporate governance issues that characterized the 2003/4 Zimbabwean banking crisis. There are contrasting views on the legal and moral roots of the crisis, and consequently, different analysts have come up with different assessments of the morality and professional propriety of measures adopted by the Reserve Bank of Zimbabwe (RBZ), as bank regulator, in response to the developments in the banking industry. While there is an almost universal acknowledgement among analysts that corporate governance and ethical shortcomings contributed to the crisis, there appears to be no universal theory justifying the response of the regulator. A critical review of the events surrounding the crisis, with some benefit of hindsight, points to a form of collective responsibility among bankers, regulators, and politicians. This analysis draws on deontological and teleological ethical theories to assess the resolution of the myriad of ethical dilemmas that characterized the period before and during the crisis. The analysis also relies on legal and prudential guidelines on good governance in banking institutions, in particular the Banking Act (Chapter 24:20).