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The purpose of this paper was to construct a canonical correlation analysis (CCA) model for the Zimbabwe stock exchange (ZSE). This paper analyses the impact of macroeconomic variables on stock returns for the Zimbabwe Stock Exchange using the canonical correlation analysis (CCA).

Data for the independent (macroeconomic) variables and dependent variables (stock returns) were extracted from secondary sources for the period from January 1990 to December 2008. For each variable, 132 sets of data were collected. Eight top trading companies at the ZSE were selected, and their monthly stock returns were calculated using monthly stock prices. The independent variables include: consumer price index, money supply, treasury bills, exchange rate, unemployment, mining and industrial index. The CCA was used to construct the CCA model for the ZSE.

Maximization of stock returns at the ZSE is mostly influenced by the changes in consumer price index, money supply, exchange rate and treasury bills. The four macroeconomic variables greatly affect the movement of stock prices which, in turn, affect stock returns. The stock returns for Hwange, Barclays, Falcon, Ariston, Border, Caps and Bindura were significant in forming the CCA model.

During the research period, some companies delisted due to economic hardships, and this reduced the sample size for stock returns for respective companies.

The results from this research can be used by policymakers, stock market regulators and the government to make informed decisions when crafting economic policies for the country. The CCA model enables the stakeholders to identify the macroeconomic variables that play a pivotal role in maximizing the strength of the relationship with stock returns.

Macroeconomic variables, such as consumer price index, inflation, etc., directly affect the livelihoods of the general populace. They also impact on the performance of companies. The society can monitor economic trends and make the right decisions based on the current trends of economic performance.

This research opens a new dimension to the study of macroeconomic variables and stock returns. Most studies carried out so far in Zimbabwe zeroed in on multiple regression as the central methodology. No study has been done using the CCA as the main methodology.

This study aims to assess the impact of visual multimedia in improving entrepreneurial competence and economic self-efficacy among widowed women farmers.

The participants received entrepreneurial training through visual multimedia package. The sample size was made up of 540 widowed women farmers. The entrepreneurship competence and economic self-efficacy scales were used as the instruments for data collection. The purpose of the entrepreneurial competence scale was to measure the mental competence of the participants to engage in entrepreneurial ventures. On the other hand, the economic self-efficacy scale measured the ability of the women to solve their financial problems, thus, meeting their financial needs. Both scales were administered face-to-face to the participants before, and after the training and during follow-up assessment after three years.

The result of the study showed that the women farmers reported low entrepreneurship competence and economic self-efficacy before the training. After the training, the women farmers who received the multimedia training reported an improvement, but those who did not receive the training did not show an improvement. A follow-up assessment after three years revealed stability in the improvement among women farmers who received the training. It was also indicated that interactive visual multimedia was found to be more effective than noninteractive visual multimedia.

This study has provided empirical evidence on how best to empower widowed women farmers by improving their entrepreneurial competence and economic self-efficacy. This information could be useful for policy formulation and advocacy in relation to women’s empowerment.