African
Journals Online
African Journal of Finance and Management
Volume 11, Number 1, July 2002
Abstracts
FOOD
SECURITY MANAGEMENT THROUGH PUBLIC POLICY
Prof
H. K. R. Amani*
Abstract:
This paper emphasizes the role of public policy in addressing food
insecurity. It begins
with an elaboration of the food security concept.
In this regard, the paper argues that the conceptual framework
for food security should seek to ensure that food is available and
accessible to each individual in sufficient quantities to guarantee
nutritious diet and good health.
In terms of food availability, the paper addresses three
aspects, namely, food production, food trade/markets and food aid.
In all of these, public policy is crucial to ensuring good
performance.
In terms
of access to food, the paper argues that there is need to develop
appropriate policies and institutions that promote investment in
productive assets, improves human capabilities and skills, expands
commodity markets and trade opportunities for both agriculture and non
agriculture commodities, and promotes social capital.
These recommendations are based on the fact that the aspect of
food accessibility takes food security issues further afield, with
poverty and under-development being root causes of food insecurity.
To this end, the paper argues that sectors other than
agriculture should become prominent, thereby bringing to the fore
issue such as employment generation, broad-based economic growth and
sustainable development. In
all of these good public policy is crucial.
FINANCIAL
ACCOUNTABILITY OF PUBLIC CORPORATIONS IN A LIBERALISED ECONOMY: THE
CASE OF AUDITING IN TANZANIA
Cornel
K. Mtaki*
Abstract:
For more than three decades since 1967 the role of public
corporations in the Tanzania economy was dominant.
However, their poor financial management and loss-making
character could not be underestimated either, particularly by the
taxpayer who was ultimately responsible for sustaining them.
For instance, in the year which ended in June, 1991, a year
before public corporations were lined up for privatization, the
aggregate losses accumulated by the loss making institutions exceeded
the aggregate profits realized by the profit making enterprises by
Tanzania shillings 4,616 million.
In an economy dominated by the public sector, surplus from this
sector was expected to be the major source of public finance and the
determinant factor in the growth of the economy.
Unfortunately, its performance defied this expectation
presumably due to poor financial accountability.
Financial accountability in public corporations was and still
is, one of the mandatory requirements. In
this context legislators have always made it mandatory for public
corporations to have their accounts audited annually and cause the
same to be submitted to a minister who, in turn, lays them before the
National Assembly, the people’s representative organ, for final
scrutiny and verification. In
order to facilitate the audit function the public corporations are
also required to keep and maintain proper books of accounts.
All these requirements are taken in order to ensure that public
money is properly expended and accounted for.
THE
ROLE OF MICRO CREDIT SCHEMES IN THE GROWTH OF SMALL AND MICRO BUSINESS
ENTERPRISES IN BOTSWANA
D.
R. Sathyamoothi and B. S. Khupe*
Abstract:
Small and micro enterprises in Botswana are relatively young.
(G. Sunny & V. Babikanysia, 1994).
Although this is the case, the Government has long recognized
the importance of developing the small business and all efforts are
made to encourage them through various assistance programmes.
In its policy formulation processes, the Botswana government is
guided by four major economic factors: Rapid economic growth, economic
independence, sustained development and social justice.
These are principles enshrined in the country’s National
Development Plan for the past two decades (Government of Botswana,
1988 a).
For its
part, SMME encourages rapid economic growth by increasing employment
prospects thereby enabling economic independence by reducing
dependence on imports (Government of Botswana, 1988 b); contributes
toward sustained development by upgrading citizen skills through
on-the-job training and providing essential training for employees who
would be better empowered to start other own businesses (Government of
Botswana, 1988 a). SMME also promotes social justice by creating
sustained employment for unskilled workers (Alexander.1983).
The
biggest stumbling block towards flourishment of small and medium
enterprises in Botswana is finance and the Botswana government has
both realized this fact and raised to the occasion by way of
establishing a Micro Credit Scheme administered by the National
Development Bank. The
study looked into the role played by the scheme in the growth of small
and micro enterprises. Two
sets of questionnaires were distributed for data collection, one
targeting the national Development Bank (NBD) administration and the
second to the beneficiaries of the scheme.
The study revealed that the scheme has been partial successful
in addressing its intended objectives.
The most prominent problem faced by the scheme administrators
being overdue loan repayments which have over time mounted an aim of
addressing problems identified by the research study.
EXPORT
MARKETING STRATEGIES: A GLOBAL COMMUNICATION EMPHASIS – Elisante
ole Gabriel*
Abstract:
This paper will give a general overview of what is meant by
globalisation as well as factors encouraging the globalisation
concept. Communication as
a social phenomenon at the global dimension will be briefly discussed.
More specifically the paper will address the issue of export
marketing strategies, their weaknesses and strengths.
Globalization is considered to be a concept of taking the whole
world as one huge market. with
homogeneous needs. Depending
on the knowledge of the exporter, this can be useful but if not
handled with care can be misleading.
In the real world it might be difficult to get the homogeneous
need of customers across the world.
People are different and the differences are different.
The key success factor is for the exporter to have a proper
knowledge of the alternative export strategies and make a “strategic
strategy choice”. The
worst scenario is to choose not to choose.
Companies and/or individuals who are dealing with export
transactions have to identify and understand their export objectives
before working out the export sstragegies.
It is the rule of the game that successful strategies ought to
succeed the intended objectives. It is also becoming increasingly important for exporters to
communicate the value they are exporting to their customers.
This communication should command the social global aspects.
If the social aspects are ignored in communicating the values,
the business is destined to fail.
The question will not be whether it will fail or not but just
when it is going to fail. Therefore
Exporters are encouraged not to be myopic in managing the export
business. They should see
‘beyond the wall’ and go where no man has ever gone before.
KEY
WORDS: Export, Strategy,
Globalization, Communication
INFORMAL
FINANCIAL MARKETS: THE CASE OF CAMEROON
Hermann
Logang*, Calving Shipley** & K. Michael Casey***
Abstract:
Informal financial markets play an important role in providing capital
in less developed countries. This
paper presents the organization of such markets and provides examples
of how these markets operate concurrent with the formal financial
sector. Specifically, the
paper provides a case study of the informal financial markets in the
country of Cameroon.
FINANCIAL
SECTOR REFORMS AND INVESTMENT EFFICIENCY IN SOUTH AFRICA-
Nicholas Odhiambo*
Abstract:
The effect of financial liberalization on investment in sub-Saharan
Africa countries has drawn much attention in the recent literature.
The major thrust of the literature has been to understand the
mechanism by which interest rate deregulation on one hand and
elimination of other forms of financial repression on the other hand;
affect the quantity and quality of investment.
This study attempts to empirically investigate the relevance of
financial reforms on investment efficiency in South Africa using
Johansen-Juselius cointegration method.
Contrary to the results of other previous studies, the results
of this study fail to find a robust positive relationship between real
interest rates and investment efficiency in South Africa.
The study therefore, concludes that positive real interest
rates do not enhance the efficiency of investment in South Africa.
KEY
WORDS: South Africa, Financial
Liberalization, Investment Efficiency, and Growth.
THE
ROLE OF THE ASSOCIATION OF CAMEROON ACCOUNTANTS (ONECCA) AS A
REGULATORY BODY FOR THE ACCOUNTING PROFESSION IN CAMEROON.
Visemih
William Muffee*
Abstract:
This paper focuses on the role of the Association of Cameroon
Accountants (ONECCA); as a regulatory body for the accounting
profession in Cameroon.
The data collected have been used to carefully assess the
effectiveness of the accounting institution, as a regulatory body.
The data reveals the extent to which effective regulatory
structures are essential to the growth of the profession and the
development of the country. There is a clear need for a regulatory framework in the
Accounting Profession, which should be set up by an umbrella body i.e.
the Association of Cameroon Accountants (ONECCA).
The
introduction gives a general background of this paper, with an
eventual focus on the theoretical framework and a review of the
relevant literature. These
are followed by empirical evidence that has been carefully analysied
and presented in this work. Data
for the analysis was collected through the use of questionnaire,
personal interview and observation.
The findings indicate that ONECCA is doing its best in
regulating and controlling the Accounting Profession in Cameroon.
The research findings therefore recommend that ONECCA should
set up an examination body to serve the needs of the accounting
profession, which is a poorly populated and represented profession in
Cameroon.
GLOBALISATION
DRIVERS IN THE TWENTY FIRST CENTURY
S.
Ramakrishna
Abstract:
For a global manager it is said that twenty first centenary
offers an exciting and challenging atmosphere to work.
Does it mean a big change in the way the business has been
conducted so far as far or simply means a change in emphasis on
certain ways. These
currently, are some of the issues which are currently engaging the
attention of economists, trade pundits and students international
business in general.
So far,
every manager has been used to work in a particular way. It was Ok in a not so dynamic world of the past.
But in a constantly changing world of to-day, where past is
replaced by dynamic present and the dynamic present is being replaced
by more challenging future, the old ways of thinking and action plans
are no longer suitable to the present day. So, one has got to be extra alert and sensitive to the
realities of an increasingly globalised world.
All this means a bit of uncertainty and unpredictable nature of
the future.
LIBRARIES
ARE INTELLIGENT FUNCTIONAL BUILDINGS
A.G.
Nkhoma – Wamunza*
Abstract:
In the 21st century,
librarians must play a more proactive role in the planning of library
buildings. The paper argues that librarians must be knowledgeable about
current and future space requirements to accommodate a wide range of
activities and functions including information and communication
technologies. In view of
financial constraints, librarians must also be knowledgeable about
available options on how to create space in order to ensure provision
of effective library services to users.
Advancements in new information technology and communication
technologies must also be borne in mind when planning functional and
intelligent library buildings of the 21st century.
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