How to Minimize the Effect of the Global Financial Crisis on South Africa

2012 ◽  
Author(s):  
Ilse M. Schoeman ◽  
Mark A. Petersen
Keyword(s):  
South Africa ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
The Global Financial Crisis

scholarly journals The effects of the global financial crisis on top 40 company CFO's

2011 ◽  
Vol 4 (2) ◽  
pp. 367-390
Author(s):  
Thea L. Voogt
Keyword(s):  
South Africa ◽  
Financial Crisis ◽  
Literature Review ◽  
Global Financial Crisis ◽  
Chief Financial Officers ◽  
Specific Information ◽  
Roles And Responsibilities ◽  
The Global Financial Crisis ◽  
Top 40 ◽  
Country Specific

Very little country-specific information is available on the effects of the global financial crisis on developing countries. This article focuses on the effects of the global financial crisis on the chief financial officers (CFOs) of the 40 largest listed companies on the JSE Ltd and achieves four objectives. Firstly, it provides perspectives on the effects of the global financial crisis on South Africa. Secondly, it details a literature review on the effects of the crisis on CFOs globally. Thereafter, a model is presented of the roles and responsibilities of CFOs, which, together with the literature review and previous similar research, was used as the basis for a questionnaire. Lastly, this article reports on the responses to the questionnaire. The research revealed eight significant findings and a number of specific areas for research. Among these significant findings were that respondents’ perceptions of an increase in importance in some of their roles did not correspond to the time they spend and expect to spend on responsibilities related these roles. In addition, respondents expected to spend even less time on IT and sustainability. This article provides valuable insights into the extent of the effects of the global financial crisis on CFOs.

scholarly journals South Africa as a Development Partner: An Empirical Analysis of the African Renaissance and International Cooperation Fund

2020 ◽  
pp. 567-581
Author(s):  
Philani Mthembu
Keyword(s):  
South Africa ◽  
Financial Crisis ◽  
International Cooperation ◽  
South African ◽  
Global Financial Crisis ◽  
Development Partner ◽  
African Renaissance ◽  
The Government ◽  
The Global Financial Crisis ◽  
Open Question

AbstractAs South Africa looks to consolidate its role as a development partner, it remains an open question whether it can maintain a strong presence in Africa while facing significant challenges at home. With the economy struggling to grow and the government increasingly cutting back on expenditure, one has to wonder whether these cuts are translating into a reduction of its role as a development partner in Africa. With the eagerly awaited South African Development Partnership Agency in mind, this chapter examines data from the African Renaissance and International Cooperation Fund (ARF) between 2003 and 2015. It shows empirically that, despite increasing allocations and disbursements in the years following its inception, the global financial crisis and domestic challenges have taken their toll on the ARF’s activities.

scholarly journals An Empirical Study of Bank Efficiency in South Africa Using the Standard and Alternative Approaches to Data Envelopment Analysis (DEA)

2014 ◽  
Vol 6 (4) ◽  
pp. 310-317 ◽  
Author(s):  
Coert Erasmus
Keyword(s):  
South Africa ◽  
Data Envelopment Analysis ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Data Envelopment ◽  
Bank Efficiency ◽  
Alternative Approach ◽  
Alternative Approaches ◽  
Dea Approach ◽  
The Global Financial Crisis

The paper investigates the efficiency of the major banks of South Africa using the standard and alternative approaches to Data Envelopment Analysis (DEA). The standard DEA approach measures efficiency utilising linear averages of outputs and inputs while the alternative DEA approach utilises nonlinear averages. Individual bank efficiency scores are estimated over the period 2006 to 2012, a period that allows analysis of the efficiency of the banks during the global financial crisis of 2008 to 2009. Under both approaches the majority of the major South African banks were observed to be DEA efficient, with the alternative approach improving the efficiency scores of those banks that were DEA inefficient under the standard approach. The global financial crisis did not affect the efficiency of the majority of the banks. Since the banks were DEA efficient prior the crisis, it could be argued that their efficiency was one of the contributory factors for their resilience during the global financial crisis.

scholarly journals Financial Regulation And Supervision: Theory And Practice In South Africa

2011 ◽  
Vol 10 (11) ◽  
pp. 27 ◽  
Author(s):  
Erika Botha ◽  
Daniel Makina
Keyword(s):  
South Africa ◽  
Financial Crisis ◽  
Financial Services ◽  
Financial Regulation ◽  
Global Financial Crisis ◽  
Supervisory System ◽  
Institutional Approach ◽  
Regulation And Supervision ◽  
Regulatory Systems ◽  
The Global Financial Crisis

This paper discusses the theory of financial regulation and practices in countries and South Africa in particular. One of the causes of the global financial crisis (2007-2009) often cited is inadequate or improper regulation and supervision of the financial sector. The global financial crisis revealed inadequacies of extant regulatory systems which arguably had not kept pace with financial innovation. Consequently, all major economies are reforming their regulatory systems in the aftermath. In the UK the Financial Services Authority (FSA) has devised a set of banking regulation while the USA enacted the Dodd-Frank Act to revamp the regulation of financial services. Historically, financial regulation and supervision has been premised on the silo (institutional) approach whereby institutions are regulated according to functional lines. However, in the past two decades many countries in advanced economies adopted a consolidated approach in response to the emergence of financial conglomerates whose regulation could not be adequately handled by the traditional silo approach. South Africa, a middle-income developing country, has had a regulatory and supervisory system that has been driven by the market and international trends. Having started as a institutional approach, it metamorphosed into a functional approach in the late 1980s. Since the 1990s the South African regulatory and supervisory system has had at its heart the central bank regulating the banking sector and a multi-sector regulatory approach for other non-banking financial services. Though the financial sector was largely unscathed by the global financial crisis, South Africa has also moved to reform its regulatory system to embrace the twin peak model in line with trends in related countries.

scholarly journals The effects of the National Credit Act and the global financial crisis on domestic credit extension: Empirical evidence from South Africa

2012 ◽  
Vol 5 (1) ◽  
pp. 215-228 ◽  
Author(s):  
Chimwemwe Chipeta ◽  
Douglas Mbululu
Keyword(s):  
South Africa ◽  
Financial Crisis ◽  
Credit Card ◽  
Global Financial Crisis ◽  
Ordinary Least Squares ◽  
Negative Influence ◽  
Macroeconomic Factors ◽  
The Global Financial Crisis ◽  
The Impact ◽  
National Credit Act

This paper examines the impact of the new National Credit Act (NCA) No. 34 of 2005 and the global financial crisis on credit extension provided by all monetary institutions in South Africa. The econometric approach is estimated by way of ordinary least squares while controlling for several macroeconomic factors. The findings indicate that there was a general increase in the consumer credit provision in the period subsequent to the full implementation of the Act. The promulgation of the Act increases credit card, bank overdrafts, other conventional loans and total credit to the private sector categories. The implementation of the Act fails to reverse this trend but exerts a negative influence on lease finance and the global financial crisis has significant negative effects on most of the credit provision categories. The paper seeks to investigate an under-researched area on the interrelatedness of credit provider regulation, financial crises and credit extension.

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