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Open Access
Article
Publication date: 14 March 2022

Kalu O. Emenike

The importance of sovereign bond as a source of financing revenue deficit, benchmarking for corporate bonds and debt management in Africa, calls for continual monitoring of its…

Abstract

The importance of sovereign bond as a source of financing revenue deficit, benchmarking for corporate bonds and debt management in Africa, calls for continual monitoring of its volatility dynamics. This study evaluates the nature of sovereign bond volatility interaction between African countries using bivariate BEKK-GARCH (1, 1) model. Based on a sample of eight African countries, the results show evidence of unidirectional volatility spillover from Morocco sovereign bond to Egypt sovereign bond. Next, the results show absence of volatility interaction between Ghana and Nigeria sovereign bonds. The results further show the existence of bidirectional volatility transmission between Uganda and Kenya. Finally, the results indicate evidence of bidirectional volatility interaction between Botswana and South Africa. Overall, the results show existence of full interaction between Uganda–Kenya and Botswana–South Africa sovereign bond returns, partial interaction between Egypt and Morocco sovereign bond returns and no interaction between Ghana and Nigeria sovereign bonds markets. Thus, these results provide valuable implications for sovereign and corporate credit risk management, as well as strategy for monitoring and minimising negative effect of sovereign bond volatility spillover in Africa.

Details

Journal of Derivatives and Quantitative Studies: 선물연구, vol. 30 no. 4
Type: Research Article
ISSN: 1229-988X

Keywords

Open Access
Article
Publication date: 14 November 2023

Blessing Katuka, Calvin Mudzingiri and Peterson K. Ozili

This study aims to examine the impact of fiscal space and governance quality on inclusive growth in African countries.

Abstract

Purpose

This study aims to examine the impact of fiscal space and governance quality on inclusive growth in African countries.

Design/methodology/approach

In total, 28 African countries were analyzed from 2000 to 2020 using the generalized method of moment regression method. An inclusive growth index was developed using the principal component analysis (PCA) method. The PCA-derived index incorporates factors such as poverty, income inequality, economic participation and per capita income.

Findings

The main findings suggest that fiscal space availability (de facto fiscal space and fiscal balance) promotes inclusive growth. The study also showed that lagged inclusive growth, digitalization and governance indicators positively influence inclusive growth. The study concludes that fiscal space availability fosters inclusive growth, but this effect is mediated by governance quality in Africa.

Originality/value

Several studies examined the role of fiscal policy on inclusive growth. However, it is crucial to assess the fiscal space, that is, the financial capacity of the government to implement its fiscal policy without harming its financial stability. This paper, therefore, contributes to the existing literature by using de facto fiscal space indicator to comprehend fiscal dynamics contributing to inclusive growth. In addition, the paper uniquely constructs an inclusive growth index by including poverty severity, which considers both the incidence and depth of poverty and inequality in society.

Details

Journal of Financial Economic Policy, vol. 16 no. 1
Type: Research Article
ISSN: 1757-6385

Keywords

Open Access
Article
Publication date: 11 August 2022

Salomon Obahoundje, Vami Hermann N'guessan Bi, Arona Diedhiou, Ben Kravitz and John C. Moore

Three Coupled Model Intercomparison Project Phase 5 models involved in the G4 experiment of the Geoengineering Model Inter-comparison Project (GeoMIP) project were used to…

1119

Abstract

Purpose

Three Coupled Model Intercomparison Project Phase 5 models involved in the G4 experiment of the Geoengineering Model Inter-comparison Project (GeoMIP) project were used to investigate the impact of stratospheric aerosol injection (SAI) on the mean surface air temperature and precipitation extremes in Africa.

Design/methodology/approach

This impact was examined under G4 and Representative Concentration Pathway (RCP) 4.5 scenarios on the total precipitation, the number of rainy days (RR1) and of days with heavy rainfall (R20 mm), the rainfall intensity (SDII), the maximum length of consecutive wet (CWD) and dry (CDD) days and on the maximum rainfall in five consecutive days (Rx5day) across four regions: Western Africa (WAF), Eastern Africa (EAF), Northern Africa and Southern Africa (SAF).

Findings

During the 50 years (2020–2069) of SAI, mean continental warming is −0.40°C lower in G4 than under RCP4.5. During the post-injection period (2070–2090), the temperature continues to increase, but at a lower rate (−0.19°C) than in RCP4.5. During SAI, annual rainfall in G4 is significantly greater than in RCP4.5 over the high latitudes (especially over SAF) and lower over the tropics. The termination of SAI leads to a significant increase of rainfall over Sahel and EAF and a decrease over SAF and Guinea Coast (WAF).

Practical implications

Compared to RCP4.5, SAI will contribute to reducing significantly regional warming but with a significant decrease of rainfall in the tropics where rainfed agriculture account for a large part of the economies. After the SAI period, the risk of drought over the extratropical regions (especially in SAF) will be mitigated, while the risk of floods will be exacerbated in the Central Sahel.

Originality/value

To meet the Paris Agreement, African countries will implement mitigation measures to contribute to keep the surface air temperature below 2°C. Geoengineering with SAI is suggested as an option to meet this challenge, but its implication on the African climate system needs a deep investigation in the aim to understand the impacts on temperature and precipitation extremes. To the best of the authors’ knowledge, this study is the first to investigate the potential impact of SAI using the G4 experiment of GeoMIP on temperature and precipitation extremes of the African continent.

Details

International Journal of Climate Change Strategies and Management, vol. 14 no. 4
Type: Research Article
ISSN: 1756-8692

Keywords

Open Access
Article
Publication date: 18 June 2021

Charlotte Remteng, Johnson Nkem, Linus Mofor and James Murombedzi

This paper aims to provide an analysis of gender strategies in the planning, programmes towards the implementation of Africa’s Nationally Determined Contributions (NDCs). It…

1744

Abstract

Purpose

This paper aims to provide an analysis of gender strategies in the planning, programmes towards the implementation of Africa’s Nationally Determined Contributions (NDCs). It involved the identification and disaggregation of climate risks on women key climate affected sectors (water, energy, agriculture, health, energy).

Design/methodology/approach

This involves review of vast scholarly and academic research, to establishment of linkages and interlinkages between the risks. A diagnostic analysis was done on the NDCs to understand the orientation of gender considerations in the NDCs of African countries, and then an assessment on emerging opportunities and empowerment of women to address climate change was carried out as an un-detachable component of gender considerations.

Findings

Poverty, cultural barriers and inequality, climatic risks such as floods, occurrence of infectious diseases and water scarcity create life threatening situations for women as well as their livelihood Analysis on the NDCs (and INDCs) of all African countries show that over 85% of actions reference gender. At the regional level West Africa has the highest gender actions in their NDCs (41%), East Africa 25%, Southern Africa 15%, Central Africa 8% and North Africa 6%. The coping responses of women, their knowledge about the environment and the environmental services they offer, provide great opportunities for them in the climate change scenario which is seldom spoken about. Empowerment of women by providing access to Information, education, training; sensitization on various facets of climate change; the risks, consequences, possible sustainable solutions (Adaptation and mitigation) and their basic rights especially with regards to land and ownership is necessary, and can help reduce the climatic risks they face.

Research limitations/implications

The limitation of this study was time constraint as the research was done during my fellowship at the United Nations Economic Commission for Africa which was a short period in relation to the fact that the authors were assigned to other duties.

Practical implications

Though most African countries are making an effort towards gender integration in their NDCs, they need to carry out systematic gender analysis; collecting and using sex-disaggregated data; establishing gender-sensitive benchmarks and indicators; and developing practical tools to support increased attention to gender perspectives.

Social implications

Climate change is a serious threat to humanity and views from mostly those affected indicates that there is still a big disconnect between the ambitious agendas set by various stakeholders involved (International organizations, governments and regional organizations), and the real grassroots initiatives, actions and programs being implemented in the ground. There is also inarguably increasing evidence that climate change is amplifying gender inequality, the vulnerability of women and children; consequently, a serious barrier to the achievement of the Paris Agreement, UN 2030 Sustainable development goals, the 2063 Africa Union Agenda.

Originality/value

Though there exist many research papers on climate and gender and also on NDCs, creating a link between gender risks and climate policies, strategies and programs gives the issue of gender and climate change “high importance”. An integrated approach on identifying the risks makes policies coherent.

Details

Ecofeminism and Climate Change, vol. 3 no. 1
Type: Research Article
ISSN: 2633-4062

Keywords

Open Access
Article
Publication date: 16 August 2022

Azwindini Isaac Ramaano

The purpose of this study was to examine the latent part of geographic information systems in inclusive sustainable rural tourism, community-based natural resource management…

2270

Abstract

Purpose

The purpose of this study was to examine the latent part of geographic information systems in inclusive sustainable rural tourism, community-based natural resource management (CBNRM) and community development and empowerment in Southern Africa, Africa generally and many rural areas elsewhere worldwide.

Design/methodology/approach

The viewpoint utilizes literature and document reviews to assess African and worldwide agricultural, environmental and tourism resources management scenarios. It thus liaises with CBNRM and geographic information systems in sustainable tourism and local community development applications.

Findings

This review viewpoint uncovers a better potential synergetic relationship between tourism and rural (agricultural) activities that geographic information systems along a concept of CBNRM can amplify. Hence, it has poised a need for a decent and integrated tourism strategy to develop and empower the pertinent communities in many rural and marginalized areas within the continent.

Originality/value

Many rural communities in Southern Africa and Africa broadly dwell in low-income areas. Such milieus are rich in natural biodiversity, including tourism destination areas. Geographic information systems, sustainable tourism and CBNRM can form a gestalt of local community development projects within their environs.

Details

Arab Gulf Journal of Scientific Research, vol. 40 no. 2
Type: Research Article
ISSN: 1985-9899

Keywords

Open Access
Article
Publication date: 29 October 2018

Wuletaw Tadesse, Zewdie Bishaw and Solomon Assefa

This paper aims to review the current status of wheat production, farming systems, production constraints and wheat demand-supply chain analysis; the role of international and…

25695

Abstract

Purpose

This paper aims to review the current status of wheat production, farming systems, production constraints and wheat demand-supply chain analysis; the role of international and national breeding programs and their approaches in wheat genetic improvement including targeting mega environments, shuttle breeding, doubled haploids, marker-assisted selection and key location phenotyping; and future prospects and opportunities of wheat production in Sub Saharan Africa (SSA).

Design/methodology/approach

Relevant literature works have been used and cited accordingly.

Findings

Though traditionally wheat was not the leading staple crop in SSA, it is becoming an important food crop because of rapid population growth associated with increased urbanization and change in food preference for easy and fast food such as bread, biscuits, pasta, noodles and porridge. In 2013, total wheat consumption in SSA reached 25 million tons with import accounting for 17.5 million tons at a price of USD6 billion, while during the same period the region produces only 7.3 million tons on a total area of 2.9 million hectares. The low productivity (2t/ha) in the region is principally because of abiotic (drought and heat) and biotic (yellow rust, stem rust, septoria and fusarium) stresses which are increasing in intensity and frequency associated with climate change. Furthermore, increased cost of production, growing populations, increased rural-urban migration, low public and private investments, weak extension systems and policies, and low adoption rates of new technologies remain to be major challenges for wheat production in SSA. Wheat breeding in SSA is dominantly carried out by National Agricultural Research Systems, in partnership with the international research centers [International center for improvement of maize and wheat (CIMMYT) and International center for agricultural research in the dry areas (ICARDA)], to develop high yielding and widely adapted wheat genotypes with increased water-use efficiency, heat tolerance and resistance to major diseases and pests. Most of the cultivars grown in SSA are originated from the international research centers, CIMMYT and ICARDA.

Practical implications

This paper will help to promote available wheat technologies in SSA by creating awareness to wheat scientists, extension agents and policymakers.

Originality/value

This manuscript is an original review paper which has not been published in this form elsewhere.

Details

International Journal of Climate Change Strategies and Management, vol. 11 no. 5
Type: Research Article
ISSN: 1756-8692

Keywords

Open Access
Article
Publication date: 16 August 2023

Olusegun Felix Ayadi and Johnnie Williams

This study aims to explore the possibility that securities markets in selected African countries of Egypt, Kenya, Nigeria and South Africa play a significant role in capital…

2020

Abstract

Purpose

This study aims to explore the possibility that securities markets in selected African countries of Egypt, Kenya, Nigeria and South Africa play a significant role in capital accumulation using panel data analysis. This is done by exploring the relationship between gross fixed capital formation on the one hand and financial market development indicators on the other hand. Thus, the study aims to examine if stock market size and liquidity are determinants of capital accumulation.

Design/methodology/approach

The analysis is based on annual times series from 1991 through 2017 spanning four African stock markets. The analysis utilizes the fixed-effect and random-effect econometric models. The Durbin–Wu–Hausman test is used to choose between the two models.

Findings

The key results indicate that stock market capitalization is a positive determinant of gross fixed capital formation. The market value traded and turnover have no relationship with capital formation. Therefore, the role of stock African stock markets in promoting capital accumulation and, subsequently, industrial growth in Africa is seriously questioned.

Originality/value

Only a handful of studies have examined the role of the African securities market in promoting capital accumulation. This study is unique in which it focuses on the leading stock markets in the four corners of Africa. The markets are from Egypt in the north, South Africa from the south, Nigeria from the west and Kenya from the east. These four markets account for a significant segment of all African markets.

Details

Journal of Money and Business, vol. 3 no. 2
Type: Research Article
ISSN: 2634-2596

Keywords

Open Access
Article
Publication date: 31 August 2022

Rebecca Walker and Jo Vearey

In South Africa, the majority of the population struggles to access care and support for mental health challenges. Drawing on challenges faced by asylum seekers and refugees in…

1122

Abstract

Purpose

In South Africa, the majority of the population struggles to access care and support for mental health challenges. Drawing on challenges faced by asylum seekers and refugees in the urban margins of Johannesburg, this paper aims to explore the relationship between migration and mental health through a lens of heightened vulnerability, precarious urban spaces and unmet basic needs.

Design/methodology/approach

Remote interviews were conducted with respondents working in the mental health-care sector (public and private) and with migrant communities in Johannesburg. Respondents were identified via purposive sampling and interviews were conducted in English. Key findings were identified using thematic analysis.

Findings

Effective responses to asylum seekers and refugees facing mental health challenges are based on an understanding of context, of crisis and of the need to meet basic needs such as paying rent, finding employment and providing for families. These “daily stressors” not only compound “extreme traumatisation” but are a form of trauma in and of itself.

Originality/value

This paper shows how alternative responses determined by an understanding of context, of crisis and of the need to meet basic needs provide critical and potentially far-reaching interventions. Locating trauma in the unmet needs, precarious urban spaces and marginalisation opens up space to further question the ways that migration and mental health shape and reshape one another.

Details

International Journal of Migration, Health and Social Care, vol. 19 no. 1
Type: Research Article
ISSN: 1747-9894

Keywords

Open Access
Article
Publication date: 18 July 2023

Andrew Ebekozien, Clinton Aigbavboa, Mohamad Shaharudin Samsurijan, Radin Badarudin Radin Firdaus, Solomon Oisasoje Ayo-Odifiri and Godpower C. Amadi

Several studies have shown that the mechanism of labour-intensive construction (LIC) projects can mitigate high unemployment and create skilled development, especially in…

Abstract

Purpose

Several studies have shown that the mechanism of labour-intensive construction (LIC) projects can mitigate high unemployment and create skilled development, especially in developing nations. The guidelines and practices for implementation may have faced some encumbrances in some countries. Whether the current guidelines and practices for municipal infrastructure support agent (MISA) to execute LIC projects face hindrances in South Africa has yet to receive in-depth studies. Thus, this study attempts to proffer policy solutions to improve the proposed revised guidelines and practices for MISA in LIC project execution in South Africa.

Design/methodology/approach

The study's objectives were accomplished via a combination of 16 virtual interviews of built environment professionals and government officials involved in LIC project execution in South Africa and supported by the analysed documents. A thematic approach was used to analyse the data and presented two main themes.

Findings

Findings show lax enforcement of discretionary funds, lax institutional capacity and inadequate individual skills, among others, as the gaps in existing South Africa's LIC guidelines and practices. Also, policy solutions to address the gaps were proffered.

Practical implications

The suggested feasible policies will improve the proposed revised guidelines and practices for MISA in LIC project execution in South Africa. This guide will promote the development of individual skills, institutional capacities and increase employment across South Africa.

Originality/value

This study promotes the use of LIC to create employment and contribute to proffering measures that will improve the proposed revised third edition of the guidelines and practices for MISA to execute LIC.

Details

Property Management, vol. 42 no. 1
Type: Research Article
ISSN: 0263-7472

Keywords

Open Access
Article
Publication date: 22 September 2023

Richard Kwame Adom, Mulala Danny Simatele, Dillip Kumar Das, Kalumba Ahmed Mukalazi, Mazinyo Sonwabo, Lindelani Mudau, Mikateko Sithole, Serge Kubanza, Coleen Vogel and Leocadia Zhou

Globally, climate change governance continues to be a significant challenge to policymakers, environmentalists and politicians despite international summits, conferences and…

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Abstract

Purpose

Globally, climate change governance continues to be a significant challenge to policymakers, environmentalists and politicians despite international summits, conferences and programmes designed to find sustainable solutions to the climate change crises. Climate change continues to be viewed primarily as a challenge for the future, whereas many leaders and administrators globally regard it as an environmental issue rather than a challenge that encompasses all aspects of life. In South Africa, these misleading perceptions of climate change continue to prevail both at national and local levels. The government and private organisations do not attach the required levels of urgency needed to address the climate change crisis. While numerous policies and institutions have been established to address these challenges, they lack financial backing, coordination and synergy that cut across the broad objectives of environmental, social and economic agendas. Additionally, weak, eroding trust and manipulating of institutions continue to hinder effective policy implementation and focus-driven governance. This paper aims to explore the structural and governance weaknesses of climate change administration in the KwaZulu-Natal province and South Africa in general.

Design/methodology/approach

This paper used extensive literature reviews and a triangulated approach to investigate the weaknesses of the current governance structure in the context of institutional and capacity constraints.

Findings

The findings uncovered that most institutions and organisations mandated to address climate change challenges operate in silos, lack required investment and capacity and have weak accountability mechanisms with a shallow understanding of climate change governance.

Originality/value

This paper recommends better coordination between national, provincial and local governments as well as the private sector towards climate change activities and capacity to ensure that climate change actions are effectively implemented.

Details

International Journal of Climate Change Strategies and Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1756-8692

Keywords

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