African Journals Online
African Journal of Finance and Management

Volume 10, Number (1) July 2001
Abstracts

THE ROLE OF HUMAN CAPABILITIES IN ECONOMIC DEVELOPMENT.

By H.K.R Amani $Tausi Mbaga-Kida

Abstract: Highly levels of human capability are important in any meaningful development. In Tanzania the level of poverty is still very pervasive, due to low level of human capability that is accelerated by, among other things gender inequality, low level of human capability that is accelerated by, among other things gender inequality, low levels of education, low survival rates and life expectancy due to poor health conditions as well as the impact of HIV/AIDS. A broad range of policy measures is needed to improve human capability in respect, but mostly in the area of equal opportunities and education. It is envisaged that Tanzania’s Development Agenda must be people – centered development. The recognition of and adherence to human rights as accepted globally should be the backbone of people – centered development. Human rights include all those elements essential for human survival: physical security, liberty and the development of dignity.

FINANCIAL INSTITUTIONS AS FACILITATOR OF ECONOMIC GROWTH: CASE STUDY OF BOTSWANA.

By Prof. Bomu N.S & Palaelo, S.P.

Abstract: This paper assesses the impact of financial institutions on the economic development of Botswana. As it is not sensible to depend on a single mineral (diamonds) for long-term economic emphasis towards the development of financial Institutions. Its is apparent that the influence of Financial institutions as more on household than development activities. Hence the Government of Botswana entered into banking activities. Government’s realization of the need to separate its banking functions prompted the establishment of the Botswana Stock Exchange to float the capital market and the Banking Act In spite of all these action, the much needed assistance is not forthcoming from financial institutions. Hence the development of a suitable legal framework to channel deposits of the development purpose is suggested.

Keywords: Africa Botswana, Banking, Finance, Capital market and Economic Development

THE EFFECT OF TRADE LIBERALIZATION ON THE CONSUPTION FUNCTION IN MOROCCO

By, K.M Casey, J.B. Duncan, J.N. Roge & S. Mehta

Abstract: This paper investigates the 1983 trade liberalization and inflation on the consumption function of Morocco. Findings indicate that trade liberalization and moderate inflation had little impact on consumption. The results do, however, show strong support for the permanent income hypothesis because lagged consumption was found to be significant in predicting current consumption.

Keywords: Morocco, trade liberalization, inflation, consumption.

TQM IN SMES IN BOTSWANA: A PRELIMINARY INVESTIGATION

By, Zelealem Tadesse Temtime

Abstract: Stiff competition driven by more demanding customers has exerted pressure on both small and large firms to adopt total quality management (TQM) practices Although TQM has currently grown to become a well-established field of research much of the work has concentrated on large multi-product, multi division and multi-national firms. Only a little has been done on the TQM practice of Small and Medium Enterprises (SMEs). The Literature on quality improvement practice of SMEs in developing countries particularly in Africa is almost non-existent.

The purpose of this paper is, therefore to examine the problems and prospects of SMEs in implementing TQM practices by reviewing existing literature and collecting primary investigation of problems and possibilities, sample means and standard deviations are used to analyze the data. The results indicated that misperceptions coupled with lack of resources and strategic orientation have hindered the introduction of TQM practices in SMEs in Botswana. Implications for future research and strategies to achieves attitudinal and behavioural changes in SMEs are suggested.

Keywords: Total Quality Management ISO 9000, Small and Medium Enterprises, Developing Countries Quality Improvement, Quality Control

USER NEEDS IN TANZANIA’S ACADEMIC INSTITUTIONS

By Dr. M.P. Nyerembe

Abstract: This paper examines user needs in academic institutions in Tanzania and how they are being satisfied. It notes that no user needs surveys has ever been conducted in academic institutions in Tanzania and argues that user needs are of various types e.g. graduate students, undergraduate students researchers, administrator, individual and others. I give some practical steps in identify the needs of your client, the documentation and information service that you would provide to satisfy those needs will initiate action and bring about changes in clients, their outlook and in the organization as a whole The paper concludes that user surveys should inform the library’s policies and planning.

THE AUTHENTICITY OF THE RECOVERED ORIGINAL USER-REQUIREMENTS IN SYSTEM RE-ENGINEERING

By Kadida R.S. Mashaushi

Abstract: The contributions of systems – re engineering in dealing with legacy system have been proved to be invaluable. On the other hand, the determination of original user requirements for which a legacy system was originally planned to address is such an important step in the re engineering process that errors may invite yet another legacy system right at birth. This paper looks at how organizational based approaches to the recovery process may produce original user requirements that may not be genuine.

THE DIVIDEND PAYMENT POLICIES OF SELECTED LISTED COMPANIES IN BOTSWANA

Ester Macharia & Beatrice Magembe

Abstract: Dividend policy is an important and fascinating subject in corporate finance. Many researchers have provided insights into the issue of dividend policy and why it is an important area in corporate finance. However, the issue of whether there is an optimal dividend policy is important because of the effect of its information on outsiders regarding future prospects of the firm, its impact on the firm’s capital structure, investment opportunities and stock price.

This is an investigative study of the dividend policies of four listed companies in Botswana. The focus of this study is to examines the constancy or otherwise of dividends per share relative to the firms’ earning. The study also examines the theoretical basis for the selection reflected by the price/earning ratio.

The findings of the research reveal that the selected companies had dividend policies that they adhered to and that they believed would maximize their shareholders’ weather the firm use a blend of the residual dividend policy and the constant and steadily increasing dividend policy.

DETERMINING THE OPTIMUM LEVEL OF WORKING CAPITAL IN THE CAMEROON BUSINESS ENVIRONMENT: THE CAMEROON DEVELOPMENT CORPORATION (CDC)

By Visemih William Muffee

Abstract: The issue of working capital is very important to the operations of the Cameroon Development Corporation (CDC) Net working capital (i.e. the excess of liquid current assets over current liabilities) is an indispensable component of any business organization’s capital structure. For any company to make profit in order to enhance growth depends on the size of working capital and its proper management. The mismatch of working capital and fixed capital will always bring problems to the financial operations of the company. There must be an optimum size of working capital is a dangerous to an organization’s working life as too little working capital

This article sets out the modalities for determining the optimum size of working capital. This coupled with sound working capital always forces management to go into an overtrading situation (negative working capital) Looking the case of CDC there is an overtrading situation. This case is used to examine the causes and consequences of overtrading The paper concludes that organizations must properly manage their working capital in order to achieve growth. To achieve the main objective of this study (i.e. determining the optimum size of working in order to achieve the main objectives of this study (i.e. determining the optimum size of working capital) data was collected and analysed from CDC This is because CDC is a very large corporation and working capital problems are likely. The study found that CDC is a very large corporation and working capital problems are very likely The study found that CDC has acute working capital problems resulting in losses These problems stem from poor working capital management approaches employed over the years. Every organization must seek a point of balance in its working capital in order to avoid a loss-making situation.