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Item An investigation of factors that affect investment decisions in the tourism sector in Namibia(University of Namibia, 2014) Katjiuongua, OlgaAround the globe, tourism has become a strategic tool for the realization of long-term developmental goals because of its impact on job creation, income generation, rural development and poverty reduction. It is regarded as a priority sector with potential for socio-economic development and social cohesion. Being a competitive industry, destinations employ innovative strategies to capture a significant market share, resulting in an increasing inflow of investment, revenue and tourists. Namibia's Vision 2030 and NDP 4 also recognize tourism as one of the strategic economic sectors which need to be promoted and marketed extensively. The country has some of the most enviable attributes that can make it a formidable competitor and an exquisite destination. However, Namibia fails to feature as a prominent investment destination and continues to rank low on various competitiveness ratings. The investment climate has on many occasions been raised as needing attention and this is evidenced by an inability to significantly draw investment particularly in the tourism industry, commensurate with the potential it offers. This study unravels why the Namibian tourism industry is struggling to draw investment albeit its potential. It interrogates the investment climate covering incentives, regulatory framework, skills, government support and characteristic features of the destination. The study used secondary and primary sources of data from tourism organizations and authorities. A questionnaire was emailed to business owners/managers while selected government officials were also interviewed. This research concludes that the investment climate in Namibia is in general neither bad nor good; it is rather moderately conducive but attractive when compared to South Africa. However, it needs major adjustments in order to attract investment. lnvestors encounter major challenges with regard to complying with business regulations as these are cumbersome, compounded by the fragmentation of a family of government support services applicable to the tourism sector. Tourism business entities are registered with the Ministry of Trade and lndustry and then with the Namibia Tourism Board, as well as the Receiver of Revenue and Social Security Commission, which applies to all sectors. Those operating in pristine wildlife areas are expected to have environmental clearances and for communal areas leasehold certificates apply, not to mention lengthy negotiations with local communities before any business activities could commence. These processes are seen by some as unnecessary red tape which increases the transaction cost of tourism businesses, discourages potential investors from pursuing investment in the country while existing investors would out of limited options persevere and attempt to stick to the rules of the game. At times, these rules entail officers soliciting bribes from investors to facilitate the issuance of certificates in a more efficient manner. Tourism has a relatively longer product development cycle and a need for targeted incentives in the initial lean. years of business in rather profound. Such incentives are the type that only government can provide. Tourism is a labour intensive business and discerning tourists' needs are dynamic, demanding services of the highest quality. This requires a skilled workforce, versatile and flexible enough to adjust to this dynamism. Namibia currently is unable to supply the needed workforce at the right time and in the quantity and quality demanded. More sponsored training opportunities need to be availed to close this demand and supply gap. Excellent customer care service is at the center of a memorable tourism experience to enable marketing through word of mouth and to generate repeat visits. The provision of good service in Namibia is sporadic and in most cases absent especially where it matters most. Specific reference is made at the points of entry into the country, where visitors are at the mercy of unfriendly officials, which creates an unpleasant first impression for visitors. Through a multi-disciplinary approach, the country can sharpen its competitive edge and earn itself a reputation for warm hospitality, rendering it a ' home away from home' . Inadequately trained and unskilled officials at strategic points of service (with specific reference to business registration) worsen the situation further as investors end up being send to and from and subjected to the interpretation of rules and procedures which varies from individual to individual based on their work experience and commitment to duty. It appears that a centralized point of service where most of these support services can be provided as well as incentivizing tourism investment would go a long way in removing a multitude of investment barriers, including better alignment of policies and legislation affecting tourism development in Namibia.Item Investigating the relationship between non-bank financial sector development and economic growth in Namibia(University of Namibia, 2022) Johannes, Kennedy KolulyolomweneThis study aims to empirically investigate whether a long-run relationship exists between the development of the non-bank financial institutions (NBFIs) sector and economic growth in Namibia and to further determine the direction of causality thereof. The study uses time series quarterly data over the period 2001:Q1 to 2019:Q4 and utilizes the Autoregressive Distributed Lag (ARDL) model to examine the long-run relationship between the variables after having carried out the unit root test employing Kwiatkowski-Phillips-Schmidt-Shin (KPSS). The empirical results of the study show a positive significant relationship between NBFIs development and per capita growth standing for Namibia economic growth both in the long run and short run. This implies that the development of NBFIs can serve as an important locomotive for fostering economic growth in the Namibian context. Surprisingly, unlike majority of the finance-growth studies that support either the supply-leading or demand-following hypothesis, the Granger causality test of this study indicate that there exists no causal linkage between the two variables of interest, which is the development of NBFIs and economic growth. The study however found a bidirectional causal relationship between GDP and labour. The Cumulative Sum (CUSUM) and Cumulative Sum of Squares (CUSUMQ) test results confirmed the structural stability of the ARDL model. Policy makers are thus advised to consider promulgating laws aimed at developing the NBFI sector and those that encourages pension funds and other institutional investors to invest more in the domestic economy.Item Investigating the impact of microfinance institutions' products on the growth of SMEs in Katutura, Namibia(University of Namibia, 2022) Shipefi, Sem LaudikaThis study analysed the impact of microfinance institutions’ products on the growth of SMEs in Katutura. The objectives of the study were to determine whether there is a significant relationship between microfinance loans and the growth of SMEs; to establish if there is a significant relationship between microfinance savings and the SMEs’ growth as well as to identify other factors enhancing SMEs’ growth. The study employed a survey research strategy in which 87 SMEs were utilised as a sample size. A structured questionnaire was used as a research instrument to collect the primary data from SMEs, situated at Soweto Market, Soweto Taxi Rank and Wanaheda Industrial Stalls. Data were analysed using descriptive, inferential analysis which entail the use of Chi-square and simple percentages. The results revealed that there is a significant relationship between microfinance loans and SMEs’ growth. On the same note, there is also a significant relationship between microfinance savings and SMEs’ growth. Overwhelmingly, 100% of the respondents indicated that the organisation characteristic is one of the other factors that drive SMEs’ growth. Conversely, the study established that microfinance insurance is not offered and microfinance institutions are not offering adequate training to capacitate SMEs. The study recommended the MFIs to start diversifying their products offering and also to offer products that are tailored to meet the needs of the SMEs. Moreover, they should offer more training to SMEs on financial management before they lend to SMEs and extensively provide support on managerial skills. Furthermore, MFIs should design and offer insurance products that are aimed at mitigating vulnerabilities and preventing microfinance consumers from catastrophic burdens. This product should entail health, life and all assets in possession of the business. Lastly, the study recommended the establishment of a One-stop centre for SMEs in Windhoek.Item An analysis of determinants of effective tax administration: Inland revenue department, Namibia(University of Namibia, 2022) Claasen, Williams HendrichTax in Namibia, as is the case in the rest of the world, is a key source of government revenue, amongst others sources. However, the government of Namibia has not been able to fully exploit this excellent opportunity to generate revenue effectively. The tax is collected at a lower level because of the inefficiency of tax administration in Namibia. The purpose of this study is to investigate the determinants of tax administration efficiency from the Namibian perspective. This study is based on three variables used to determine factors that affect tax administration efficiency in Namibia. The three variables that are measured in this current study are: 1) organisational processes; 2) organisational resources; and 3) employee skills. This study is underpinned by the goal-setting theory and further supported by the governance theory. The data were collected through the distribution of questionnaires to a sample of 120 employees in Namibia’s Inland Revenue Authority. A total of 81 questionnaires were analysed using the IBM Statistical Package for Social Sciences (SPSS). Based on multiple regression analysis and other statistical techniques, the results of the study showed a significant relationship between organisational processes, organisational resources, and employee skills development with the efficiency of tax administration. The three variables were therefore found to be crucial for enhancing the effectiveness of tax administration. However, the Inland Revenue Department (IRD) in Namibia was found to have ineffective organisational processes, inadequate resources, and a lack of focus on skills development. This has negatively affected the effectiveness of tax administration in the country. The study recommended that the IRD should give importance to the creation of awareness among taxpayers and the continuous development of employee skills in order to improve their competences in revenue administration. The IRD should also increase the level of automation of an administrative process to ensure efficiency and minimise the cases of corruption and fraud. Given the findings from the study, several limitations and suggestions for future studies that can be conducted in this scope in Namibia are suggestedItem Assessing the effects of financial literacy on the performance of small and medium enterprises in Windhoek(University of Namibia, 2022) Murangi, Asnath KavenaFinancial literacy is one of the key factors for the effective operation of businesses including SMEs. Thus, the lack of financial training (financial knowledge) and poor financial management capacity could be detrimental to the effective management of business resources. This study assessed the effects of financial literacy on the performance of small and medium enterprises (SMEs) in Windhoek. For data collection, the study drew a sample of 100 registered SMEs (50 SMEs that attended the financial literacy training and 50 SMEs who did not attended the financial literacy training) using stratified and simple random sampling methods and structured questionnaires. The study applied an ordinary least squares technique to examine the determinants and effects of financial literacy on the performance of SMEs in Windhoek. The results suggest that tertiary education and financial literacy training significantly influences financial knowledge. The study finds that attending the financial literacy training programme significantly increases the composite score index of financial knowledge by 0.04 units while being 30 – 50 years old significantly increases the index by 0.07 units. Completing tertiary education significantly increases the financial knowledge index by 0.10 units. Therefore, ensuring participation in the financial training initiative and educational attainment of individuals enhances the level of financial knowledge of SMEs. Financial literacy training and financial knowledge are both important determinants of the performance of SMEs in Windhoek. Specifically, a unit increase in the composite index of financial knowledge significantly increases the composite score of business performance by 0.16 units and attending the financial literacy training significantly increases the composite index of business performance by 0.14 units. Gender, number of dependents, age of business, business type, business ownership and educational attainment are also important in explaining the performance of SMEs. This suggests that policy options that promote financial literacy and financial knowledge will enhance the performance of SMEs in Windhoek.Item An analysis of effects of economic growth on the financial performance of Namibian listed companies(University of Namibia, 2022) Heyns, ElizeThe purpose of the study was to analyse the effects of economic growth on the financial performance of Namibian listed companies and examine if the underlying effects are sector-specific. The measure used to assess the financial performance of selected sectors as identified on the NSX was the Return on Equity (ROE). The ROE was then regressed against the macroeconomic variables, including the gross domestic product percentage change (GDP % change) and the inflation rate percentage change as measured by the Consumer Price Index (CPI % change) annual percentage changes. The estimation procedure was performed on secondary data across eleven firms for the periods 2010 to 2020. Additionally, the study was conducted across three identified sectors, the first being, Banks, Finance & Credit Services, the second, Food Retailers and Wholesalers and lastly, Household Goods and Personal Goods. The findings support the hypothesis that economic growth positively affects the ROE of various firms. However, this effect differs in terms of magnitude across various industries. In the Household goods sector and the Food Retailers and Wholesalers sector, the ROE is significantly influenced by the CPI percentage change, more so than the GDP percentage change. Finally, the Banking sector indicated that their ROE is more sensitive to changes in the GDP percentage change than the CPI percentage change. To enhance the financial performance of companies listed on the Namibian Stock Exchange, the study recommends that policymakers ensure the economy is geared toward a sustainable growth path.Item Analysing the fiscal sustainability of Namibia`s old age grant(University of Namibia, 2022) Kanyama, Marta NdahafaCountries across the globe strive to address and achieve the welfare goals, one of which is the right to income security and sufficient social security pension in old age. In Namibia, Article 95 of the Constitution guarantees all senior citizens a regular pension sufficient to maintain a decent standard of living. The provision of a universal non-contributory social pension is critical in addressing elderly poverty. However, this provision comes at a cost and has fiscal ramifications if the necessary parameters are not kept in check and balanced on time. The thrust of this study is to analyse the fiscal sustainability of Namibia’ Old Age Grant. It is concerned with three main objectives; first, to ascertain the relationship between Old Age Grant expenditure and its independent variables namely: benefit cost, funeral benefit and number of beneficiaries; secondly to determine the expenditure of the Old Age Grant for the next 20 years, from 2021 to 2041, and finally to determine whether the projected expenditure is fiscally sustainable. The study employed a quantitative approach with data derived from a number of secondary sources. An econometric model (Old Age Grant Expenditure Model), simulation, and forecasting techniques were used in analysing data in the study. The main finding of the study is that, 99% of Old Age Grant expenditure variation is explained by the independent variables. On scenarios tested, Old Age Grant is found to be fiscally sustainable in the future provided that future-benefit amount adjustments are informed by the economic situation and with the inflation rate serving as a guide. The results further show that Old Age Grant expenditure as a percentage of government revenue is approaching the doubling point which can impose a fiscal burden on government expenditure. It is recommended that future adjustments of the grant benefit amount be informed by economic conditions, and that no political interference be used to influence the grant amount, as high political influence could render the grant expenditure unsustainable.Item An analysis of the impact of transport infrastructure development on economic growth in Namibia(University of Namibia, 2021) Ananias, Maria NdahambelelaThe main objective of the study was to measure the impact of transport infrastructure development on economic growth in Namibia for the period, 1990-2019. The Vector Error Correction Model (VECM) was adopted in achieving the objectives of the study. The annual time series data was sourced from the World Bank Database and the Ministry of Finance. The unit root test was used to determine the order of integration, whilst the Johansen cointegration test was used to test for the existence of the long run relationship.The unit root test revealed that all the variables are integrated of order one. This warranted the estimation of the VECM which requires all the variables to be integrated of the same order. The Johansen cointegration test revealed a long run relationship amongst the variables, as it was confirmed by both the Trace and Maximum Eigen test statistic. The vector error correction provided both short and long run estimates. The findings revealed a negative long run relationship between expenditure on transport and gross domestic product. On the contrary, the short run estimates revealed a positive relationship between expenditure on transport and gross domestic product in Namibia. However, the relationship is statistically insignificant.Item Assessment of challenges faced by start-up entrepreneurs in accessing funding in Namibia: Case of Windhoek(University of Namibia, 2022) Thomas, Teodensia PehoveloThe high unemployment rate and poverty have driven many people to become innovative and start their own businesses. However, for some of these businesses to exist or develop, they need start-up capital or funding from financial service institutions. It is however imperative to assess the challenges faced by start-ups in Namibia when accessing funding for their businesses. The problem is that the Ministry of Industry, Trade & SME Development acknowledged that start-ups access to funding in Namibia has not been a priority to traditional financial institutions as they perceived SMEs to be high-risk investments because about 97% of Namibian SMEs are considered non-bankable. Therefore, the study explores the challenges faced by start-up entrepreneurs when accessing funding to grow their businesses in Windhoek. The study adopted a qualitative research approach where 15 start-up business owners (5x SMEs from Bokamoso Incubation Centre, 5x SMEs from Oshetu Community Market (Single Quarters) and 5x SMEs from Katutura Youth Complex participants) were interviewed. Findings indicate that start-ups longed to access funding to boost their businesses but were ignorant of the requirements needed by financial institutions. With regards to factors that hindered start-ups from accessing funding from financial institutions, start-ups experienced difficulties due to lack of collateral, absence of proper business plans and financial statements, lack of evidence that show business capacity and lack of experience in the business venture and management skills. To improve access to funding, it was suggested for financial institutions to be inclusive in their provision of funding to businesses, sacrifice some risk capital for start-ups as well as train and mentor startups on applying for funding. Furthermore, the government was to bail out start-ups, build more incubation spaces and ensure a conducive environment for start-ups to operate their businesses and grow them.Item An investigation of financial performance and accounting practice at TransNamib Holdings Limited(University of Namibia, 2021) Kapenambili, SakeusThe overall aim of this study was to investigate the financial performance and accounting practice at TransNamib Holdings Limited. To achieve this aim, this case study had the following specific objectives formulated: to investigate factors that influence financial performance by performing an in-depth analysis of the causes of the recurring operating losses at TransNamib Holdings Limited and also, to study the financial performance and accounting practice at TransNamib Holdings by reviewing their annual financial reports for 2014 to 2019 financial periods. Purposive Non-probability sampling method was employed to derive the sample respondents for the study. The instrument used for data collection was a self-administered questionnaire. The main study findings revealed that financial performance at TransNamib Holdings was very poor, there were no annual financial reports produced by TransNamib Holdings Limited for the financial periods of 2014 to 2019. It was also discovered that the governing body and senior management at TransNamib Holdings Limited lack accountability and responsibility moreover; they were not held accountable for the poor financial performance of the company. The study established that poor financial performance at TransNamib Holdings Limited was caused by a lack of planning, lack of expertise, and weakness in the stakeholders’ oversight with regards to holding the governing body and senior management accountable for poor financial performances. The study concluded that accounting practice at TransNamib Holdings Limited was inconsistent and incompatible with the GAAP, IFRS and other relevant accounting standards. The study, however, recommends that TNHL should create an internal audit department and that the company should hire full-time personnel with a specialized qualification in the field of finance or accounting such as Chartered Accountancy, CIMA qualification, ACCA or CFA to aid driving the organization’s performance positively. The study further recommends that the members of the governing body and senior management should be well qualified.Item An exploratory study on the factors affecting repayment of Namibia Students Financial Assistance Fund (NSFAF) loans(University of Namibia, 2020) Shidhika, Johanna KaunaThe purpose of this research is to make an exploratory study on the factors effecting repayment of Namibia Students Financial Assistance Fund (NSFAF) loans. The NSFAF has been riddled with challenges and currently owed over N$400 million in student loans. The student beneficiaries have argued that they will not pay their loans back because the loans should be turned into grants. The beneficiaries’ argument was that they are already burdened with rentals, transport, food and increasing tuition fees. As such, any outstanding loans should be cancelled. These sentiments expressed by the students might be indicative of some of the reasons why it has been difficult for the NSFAF to recover some of the money it has loaned to students. In this study, the quantitative research approach was selected because of its construed merits and appropriateness. The merits are; quantitative research is used to execute systemic observations over the properties and correlations of the surveyed objects. It is a method which is important in analysing numerical data. The quantitative research is also vital for the objective of evaluating justice from the view point of the user. It is a tactic that is regularly used for research on policy and programme assessment. The tactic selected for the survey is appropriate for the evaluation of case studies. The quantitative research is vital for the study since it guided the researcher to evaluate the statistical perspective of the NSFAF case study. Participants highlighted that the state should amend the NSFAF Act of 2014. The new legislature should make it mandatory for students to pay back the loans by asking the employers to collaborate with NSFAF on verification since other alumni do not want to let the employers know that they benefited from the NSFAF. The ACT should make it compulsory for employers to disclose the students who have benefited from the NSFAF and deductions ensue in the form of garnishee from the salaries. NSFAF can also trace the students who benefited through the public service department and private sector. This can be accomplished through having staff members collaborating with these organisations. Sixty seven percent of the participants had cumulative siblings of greater than five, while 36.4% of the respondents had five siblings, and the remaining 15.9% had four siblings to look after. It is also recommended that a white paper should be crafted from the State which addresses the indebtedness of the alumni and the problems which they face when paying back the loan. A strategy to assist the students should be the mandate of the government. Considering the high unemployment rates, and the fact that most alumni are from poor backgrounds, there is a need to alleviate the plight of the students, Hence, the researcher recommends a no interest loan for the students. This research focused on the University of Namibia alumni’s who are currently employed. Alumni students were surveyed about their perceptions on loan amounts, earnings potential, future decision making, and whether the cost of the education was worth the expense.Item An assessment of the economic effects of anti-money laundering in Namibia(University of Namibia, 2020) Erastus, PaulusThis study provided comprehensive details and assessment on the economic effects of anti-money laundering in Namibia. The mixed method was used to describe and analyse money laundering and financing terrorism in Namibia. The study also used a regression model to analyse the effect of money laundering on the economy. The topic is vital with regards to the main findings that revealed that money-laundered negatively affects economic growth. Corruption and tax evasion were identified as the biggest contributors to the problem. The discussion on the effective implementation of the Financial Action Task Force recommendations were performed. There is therefore a low rate of successful prosecution and convictions on money laundering in Namibia. Namibia has shown significant improvement since the previous mutual evaluation in 2005. The country has also shown commitment in preparation for the upcoming mutual evaluation in 2020. The areas that require improvement relate to the prosecution and convictions on money laundering offenses. Overall, there are significant cases of money laundering in Namibia, and legislations in that regard are already in place. Various cases on money laundering are discussed to provide an overview of the problem, as well as effectiveness of the combating systems and mechanisms. The study provided the statistics mainly from the Financial Intelligence Centre as an overview of the magnitude of the suspicious transaction and activity reports involving money laundering. The risk is noted on the statistics regarding the electronic and international fund transfer and cash transaction reports, which gives an overview and magnitude of the financial flows within financial institutions. Overall, Namibia seems to be in a progressive system to address threats and vulnerabilities; however, there are gaps that negatively impede the effectiveness of the national anti-money laundering and combating the financing of terrorism.Item An empirical test of the international fisher effect between Namibia and her major trade partners(University of Namibia, 2020) Kamutushi, AlpheusThe international Fisher effect (IFE) is a theory in international finance that can be used to predict or estimate the movement in the bilateral exchange rate between any two currencies using nominal interest rate differentials. IFE states that the spot exchange rate between two currencies should move in the opposite direction with the interest rate differential between those countries. The aim of this study is to examine whether the IFE holds between Namibia and each of its five trading partners. In order to test for the direction of the parity, each of the five trading partners was considered as home countries and Namibia as the foreign country. The study used historic nominal interest rates and bilateral exchange rates for the period 2010 first quarter to f 2018 fourth quarter for Namibia, China, Netherland and India. However, data for the United Kingdom and the United States of America were only available for the first quarter of 2010 to second quarter of 2018 and first quarter of 2010 to second quarter of 2017 respectively. A regression analysis was employed to test the validity of the IFE between Namibia and the following countries: China, the United Kingdom, Netherland, the United States of America and India. The outcomes were mixed in both scenarios, where Namibia was the home country, results showed that the IFE does not hold. However, when Namibia was used as a foreign country, the IFE holds for the case of the United States of America versus Namibia even though the correlation was not one to one. The results also indicated that the IFE theory could not be relied upon to predict the changes in bilateral exchange rates for the chosen countries from 2010 to 2018.Item An analysis of the relationship between accounting indicators and share price on the Namibian stock exchange(University of Namibia, 2020) Tjiueza, Sharon VeroraExtensive research has proven the stock market to be a catalyst for economic development, more so in emerging African economies. Over time, finance has established several methods used to evaluate performance of stock markets. One of these is the return model which describes the relationship between stock returns and accounting earnings, this model has roots in behavioral finance and is the reference point for this study. Other models have proven to be too complex for most small and developing stock markets, which generally suffer from low liquidity and low market capitalization. The major issue with the more sophisticated models is the set of assumptions which are not achievable by a market such as the Namibian Stock Exchange (NSX). In this study, the researcher has used panel regression analysis to propose a model that relates fundamental accounting indicators to the movement in stock prices of companies traded on the NSX. In doing so, the researcher found a number of statistically significant relationships between the latter and the former. Sales, earnings per share, dividend per share, market value and return on assets all showed positive relationships with the share price. However, the coefficient corresponding to return on assets was statistically insignificant while earnings per share showed the strongest significant relationship to the share price. Additionally, the results for net profit were unexpected as they indicate an inverse relationship with the share price. Ultimately, these findings allowed the researcher to draw conclusions about value relevance of accounting information presented by companies listed on the NSX. Such conclusion is that these statements produce information that is relevant to investors on this stock market and that explains why the study found positive relationships between the share price and accounting indicators that are calculated from these financial statements. The inferences drawn from the findings and the model produced by this study bring together the fields of accounting and finance and points to a pivotal interconnection of these disciplines on the NSX and that is peculiar to this study and is its main contribution to literature on these vital subjects.Item The effect of exchange rate risk on stock market returns at the Namibia stock exchange(University of Namibia, 2020) Shinkeva, Lazarus MangunduStudies on the effect of exchange rate risk on stock market returns have received prominent attention in literature. This is due to the important role that stock markets play in the mobilization of capital that has the potential to create economic and social development. The researcher used an experimental research design to evaluate the magnitude and statistical significance of the effects of exchange rate risk on stock market returns on the Namibian Stock Exchange (NSX). Secondary data in the form of monthly time series for the period 2010-2018 was sourced from the Central Bank of Namibia (BoN), Namibia Statistics Agency (NSA) and the Namibia Stock Exchange (NSX). An Error Correction Model (ECM) framework was used in the parameter estimation after extracting exchange rate risk. Thereafter, granger causality was employed to examine the direction of causality between exchange rate and stock market returns. Several interesting results were obtained. Firstly, empirical results indicate that, in the long-run, exchange rate risk (-0.61), CPI (1.69), and prime rate (-1.35) are significant variables while GDP growth is an insignificant variable on NSX stock returns. Furthermore, an increase in exchange rate risk and prime rate negatively affect the NSX stock returns while it is positively affected by increases in CPI. Secondly, there exists a significant long-run relationship between exchange rate risk and NSX stock market returns with no significant short-run relationship. Lastly, the direction of causality runs from stock prices to exchange rate risk which is consistent with the portfolio adjustment theory. Based on these findings, the study recommends for the Government of Namibia to put in place policies that promote stable exchange rates thereby reduce the exchange rate risk and ultimately enhance stock market returns.Item An analysis of the pricing mechanism of water in Namibia: A case study of NamWater(University of Namibia, 2020) Ndemuweda, EpifaniaWater is essential for the existence, development and preservation of all human life, making it an essential commodity in the world. Hence, this thesis aimed at analysing the pricing mechanism of water in Namibia, using a case study of NamWater. The study specifically looked at the water pricing mechanism being used by NamWater as well as the advantages and disadvantages of such a pricing mechanism. This study adopted a qualitative research method approach using a case study as the research design. The population consisted of all employees of NamWater and a sample of 35 staff members in the Finance Department was purposefully selected. Both secondary and primary data was used in the study; data was collected using a self-administered open ended questionnaire and interviews. Thematic analysis was used to analyse and present the data using tables, graphs and pie charts. The study found out that NamWater uses the cost recovery pricing mechanism because of its advantages and due to the fact that it is a widely used pricing mechanism. Therefore, the study concluded that NamWater can continue using its current pricing mechanisms and try to factor in recommendations herein provided in the study.Item Challenges facing informal economy social security in Namibia(University of Namibia, 2014) Tjivikua, KenandeiThe study intended to explore ways in which the financing or funding constraints faced by sse in the provision of social security benefits to the informal economy can be overcome. The study differs from other studies, g1ven that it aimed to unearth the financing constraints that may be faced by sse in the provision of social protection or security to the informal sector in Namibia and suggest strategies that may help in resolving this intricate problem and assist with transforming the economic landscape. The study is relevant and significant, because it may help in promoting essential plans and strategies in the funding of social protection or security schemes, especially for social security institutions. It would also be useful for people in the public service, policymakers and technocrats as it will assist them in understanding the dimensions of the problem of mancing social security/protection and the need for provision of social security to the informal sector better and in the execution of their responsibilities. The study employed a historical qualitative research approach. In particular, it critically examined the current provisions of social protection schemes in Namibia and fmancing thereof including those for the informal sector. Data was collected from a representative sample through the use of questionnaires and conducting interviews with key-informants from informal sector representatives, research institutions as well as a selected number of informal sector operators and workers. The study also surveyed relevant literature, which comprises of transaction records, relevant laws, regulations and policies. Present laws, regulations and policies that have shaped the state of financing of the current social security schemes have been reviewed. The provision of medical benefit (combined with health insurance), which was followed by pension benefits, were identified as critical needs of the different segments of the informal economy that need to be developed and implemented by Government and SSC. The study suggests a framework for the extension of social security coverage to informal economy in Namibia and the financing thereof. Further, it suggests that a social protection expenditure and performance review (SPER) be undertaken by the Namibian Government.Item An investigation into challenges of funding social enterprises: A case study of special needs schools in Windhoek, Namibia(University of Namibia, 2019) Sauti, LuciaSocial enterprises have the ability to impact nations economically, environmentally and socially by solving the most pressing problems through the provision of their innovative products and services. However, for social enterprises like special schools to deliver effective, efficient, innovative and quality services in response to their goals, they require sufficient and sustainable finances. Many researchers claim that lack of funding is one of the challenges that social enterprises face worldwide. To find out the challenges that special schools face in Windhoek, the study employed an exploratory research design to shed some light. A mixed methodology approach was used. Quantitative data was collected through a questionnaire from 50 participants from public special schools in Windhoek. In addition, qualitative data was collected through structured interviews with key informants from 4 management staff of 2 special schools, one key informant from a philanthropic organisation and another one from the Ministry of Education in Windhoek. The findings of the study indicate that with the dawn of free education in 2013, School Development Fund (SDF) as one of the crucial sources of funding in special schools was abolished. Schools started receiving a Universal Primary Grant (UPE) and a Universal Secondary Grant (USE) from the government. However, due to the financial crisis that the country is experiencing, the UPE budget was cut such that finances have become a challenge to the schools. Moreover, the financial burden is exacerbated by the inadequate support from the parents and private donors, and the inability of schools to generate alternative funding options. Nevertheless, special schools indicated that they get money from UPE and USE grants, fundraisings, donations and school fees that is charged to prevocational and vocational courses. In conclusion, the recommendations are that there should be a special plan for intensifying private public partnerships for funding as the special schools’ needs are much more than the normal ones. However, donor funding should not be a permanent way of funding because as of late, there has been a decrease in the number of donors. Therefore, special schools need to have other alternative innovative funding to supplement state funding and donations.Item An investigation into challenges facing the internal audit function in Namibia(University of Namibia, 2017) Kapepo, Shali Dama OmweneInternal auditing function is the corner stone of internal controls in an organization. Despite the existence of internal audit function in the public sector of Namibia, its effectiveness remains a challenge due to challenges it is facing. This study investigated the challenges facing the internal audit function in the Namibian public sector. A survey was conducted using questionnaires to collect data from internal auditors, chief internal auditors and deputy directors (Internal Audit Departments). The population for this study was made up of Offices, Ministries and Agencies (OMAs). The study used empirical literature to identify the challenges facing internal audit function in the sampled OMAs. The challenges identified were categorised into themes and concepts that emerged from the study. The data were presented in frequency tables and charts obtained from the analysis using Microsoft Excel®. The results of the study show that internal audit function in the Namibia public sector is facing many challenges like lack of internal audit framework, lack of internal audit standards, outdated internal audit charter, no audit committee, lack of management support, lack of training for internal auditors and lack of career and development plan. The study recommended the formulation of a regulatory framework to regulate the internal audit function in the Namibia Public Sector. The study serves as a foundation for future research as it looked only into the challenges facing the internal audit function in the Namibia Public Sector; hence, there is a need for future research to investigate the impact of the challenges on the OMAs operations.Item An investigation into defaulted student accounts receivable at the University of Namibia(University of Namibia, 2018) Shilongo, Rosa M.Tertiary education has become increasingly important, and is seen nearly everywhere as the engine of every country‘s economic growth. Despite the universal importance of tertiary education, fundamental financial problems, such as student debt, faced by institutions of higher education are experienced worldwide. The primary purpose of this study was to investigate the defaulted student account receivables at the University of Namibia (UNAM). Furthermore, the reasons investigated were whether the course enrolled for had been completed, the type of financial sponsorship, the mode of offering (part-time, fulltime and distance learning), gender, age and the educational level of the parents. A third aim of the study was to suggest strategies to improve the collection of student accounts receivable at the UNAM. This study was conducted by taking a quantitative research approach. The studied sample consisted of 159 UNAM students whose last registration was in the 2012 academic year and who defaulted on the payment of their accounts; five administrative staff members from UNAM Student Debtors Section were also part of the sample. A random sampling method was employed in this study to select the student respondents as well as purposive sampling to select the staff members. The collected data were analysed by using the Statistical Package for Social Sciences (SPSS), and the technique used for data analysis was the Chi-square test. In particular, there was a significant relationship between defaulting to pay and aspects, such as whether the course enrolled for was completed, financial sponsorship and the mode of study. Gender, age and the educational level of parents showed an insignificant relationship with defaulting to pay. Furthermore, the study concluded that reasons for defaulting to pay were due to inadequate personal income and financial assistance, an increase in tuition fees, tertiary education being expensive, as well as decisions by the university management which contributed to an increase in student fees.