scholarly journals Disqualification of Company Directors: Safeguarding the Public Interest in the Kenyan Investment Market

2019 ◽  
Vol 37 (2) ◽  
Author(s):  
Kiarie Mwaura
Keyword(s):  
Growth Rate ◽  
Private Sector ◽  
Economic Transformation ◽  
Economic Activities ◽  
African Region ◽  
African Countries ◽  
Tony Blair ◽  
The Public ◽  
Track Record ◽  
Company Directors

Over the last two decades, Africa has gone through tremendous economic transformation. It was only in 2004 when the Prime Minister for the UK, Tony Blair, described Africa as the “scar on the conscience of the world” when he was establishing the Commission for Africa. A decade later, he described Africa as “the most exciting continent on the planet because of its opportunities.” Within less than twenty years, the continent has become the world’s most rapidly growing economic region. This economic growth has been attributed largely to the active private sector. Kenya, for example, has realized the highest growth rate in the East African region due to its private sector, which makes a major contribution to the country’s GDP. For this growth rate to continue, African countries need to create competitive legal frameworks that continue to attract investors and protect their interests.One of such is the disqualification framework for company directors that seeks to protect the public by placing a prohibition on a miscreant director from being involved, for a specific period, in the management of companies. An efficient disqualification framework also prevents people without the necessary qualifications from managing companies and deters those who might be tempted to engage in fraudulent activities. Without a strict disqualification framework, investors are unlikely to be attracted to a country, as they risk losing their investments when their companies are managed by incompetent, negligent, or fraudulent directors, especially those with a track record of mismanaging other companies. This philosophy was captured clearly by the Kenyan Government when it enacted the Companies Act 2015 and stated that one of its key objectives was to facilitate commerce, industry, and other socio-economic activities.  It is against this backdrop that this Article examines whether the disqualification framework under the Companies Act 2015 is adequate to protect the interests of investors. This framework is contrasted with the one that existed under the repealed Companies Act 1962 with a view to assessing whether the reforms are likely to bring about the desired changes. 

scholarly journals Kenya’s Standard Gauge Railway Project in the Context of Theory and Practice of Regional Planning

2020 ◽  
Vol 10 (2) ◽  
Author(s):  
Leanard Otwori Juma ◽  
Fredrick Adol Gogo ◽  
Ahmed Abduletif Abdulkadr ◽  
Dénes Dávid Lóránt
Keyword(s):  
Regional Planning ◽  
Secondary Data ◽  
Theory And Practice ◽  
Economic Activities ◽  
East African ◽  
African Region ◽  
African Countries ◽  
Transportation Services ◽  
Goods And Services ◽  
The Impact

Despite most African countries having immense natural and human resources potential, the continent has mostly been lagging on matters of economic development. This scenario could primarily be attributed to weak intra-regional and inter-country trade given the poor connectivity, quality, and diversity in transportation services and infrastructure. In this regard, the governments of the greater East African Region representing Tanzania, Rwanda, Burundi, Uganda, South Sudan, Ethiopia and Kenya, therefore, mooted a coordinated vision to develop interlinked regional infrastructure in road and rail transport to allow smooth movement of goods and services.  This paper aimed to critically review the impact of the SGR development on Kenya in the context of regional planning and development. The methodology of the study was a critical review of existing literature and secondary data. Study findings indicated that the development of the (Standard Gauge Railway) SGR is in tandem with the development strategies of other East African Countries. Its development is incorporated in national spatial plans with the rail route targeting regions with viable populations and sustainable economic activities. Criticisms, however, revolve around the ballooning debt to finance infrastructural development and lack of prioritization f mega projects. In conclusion, despite the financial constraints, the SGR is viewed to significantly influence the socio-economic spheres while presenting challenges in the management of landscapes where it traverses in Kenya and the Region.

scholarly journals Private Sector Development in Kuwait: A Product Space Approach

2018 ◽  
Vol 5 (1) ◽  
pp. 19
Author(s):  
Mohammed Chemingui, PhD ◽  
Faten Al Jabsheh, PhD ◽  
Kais Faki
Keyword(s):  
Private Sector ◽  
Social Services ◽  
Economic Transformation ◽  
Welfare States ◽  
The Public ◽  
Private Sector Development ◽  
Enabling Environment ◽  
Red Tape ◽  
Oil Sector

<p><em>The advent of oil in the GCC countries has led their governments to assume an ever-increasing role in the economy and to build comprehensive welfare states, based largely on the provision of employment in the public sector and the generous supply of social services and heavily subsidized utilities, to their citizens. Moreover, an intricate web of regulatory and restrictive rules and regulations has come into existence over time, resulting in a private sector that is not competitive, is not outward-looking and is generally rent-seeking. The aim of this paper is to investigate the challenges that are preventing Kuwait from succeeding in diversifying its economy and developing a competitive private sector and the pre-requisite enabling environment, thereby reducing its dependence on the oil sector. </em><em>Results of the analysis carried out in this study reveal that developing the role of private sector in the economic transformation of Kuwait could be achieved through a three interconnected strategies: i</em><em>mproving the enabling environment for business to free private sector investors from existing regulations and red tape, developing new markets and opportunities through the creation of new investment opportunities, and ensuring competitiveness and integration with the regional and world economies.</em></p>

Creating Knowledge Society for Economic and Social Growth in Africa

2014 ◽  
pp. 135-154
Author(s):  
Nathaniel O. Agola
Keyword(s):  
Economic Activity ◽  
Knowledge Society ◽  
Economic Transformation ◽  
High Wage ◽  
Economic Activities ◽  
African Countries ◽  
Critical Determinant ◽  
Social Growth ◽  
High Productivity ◽  
The One

Knowledge use in socio-economic activities is a critical determinant of the divide between countries and regions into low-productivity-low-wage and labour intensive socio-economic activity countries on the one hand, and high-wage-high-productivity and technology abundant countries on the other hand. Therefore, it is indisputable that the creation of knowledge society is imperative for African countries. Economic transformation from low-productivity-low-wage and labour intensive socio-economic activity countries to high-wage-high-productivity and technology abundant countries predominantly define the socio-economic policy aspirations of most African countries. However, it has never been very clear what are the fundamental pillars that must be built and constantly reinforced by these countries to transition to knowledge society stage. This chapter first presents an empirical connection and contribution of knowledge to higher productivity in economic activities. The importance of infusion of knowledge into diverse economic activities to ensure higher levels of productivity both at micro and macro levels is therefore demonstrated through quantification attempts that include knowledge as one of the variables in Total Factor Productivity (TFP) equation. This empirical discussion serves to illuminate the place of knowledge in economic transformation. The second part of the chapter presents an incisive exposition of the critical ten pillars of knowledge creation, sharing, and usage that African countries can leverage to transition from economies defined by low productivity to higher levels of productivity. The chapter concludes that it is the improvement in the collective stock of knowledge of the African countries that would determine whether they could make a transition to a high productivity knowledge society.

Governments and Activities in the Public Interest

2019 ◽  
pp. 154-177
Author(s):  
Sijbren Cnossen
Keyword(s):  
New Zealand ◽  
Private Sector ◽  
Public Interest ◽  
Unfair Competition ◽  
The Self ◽  
African Countries ◽  
The Public ◽  
African Experience ◽  
The Eu

Chapter 11 discusses the EU legacy of taxing public bodies, illustrated by the African experience. The EU’s out-of-scope approach is bedevilled by distortions arising from the self-supply bias, the investment disincentive, and, somewhat more remotely, unfair competition vis-à-vis the private sector. Outside Africa, countries with VAT have addressed these issues differently. Various EU countries and Canada, for example, have designed input tax refund mechanisms to eliminate the self-supply bias and the investment disincentive. Still other countries, such as New Zealand, tax governments and activities in the public interest in full and have thus come to terms with the unfair competition issue, too. A concluding section summarizes the characteristics and effects of the various approaches and attempts to formulate a recommendation for African countries.

Growing with Depth

2019 ◽  
pp. 884-901
Author(s):  
K.Y. Amoako
Keyword(s):  
Value Added ◽  
Transformational Change ◽  
Well Being ◽  
Economic Transformation ◽  
Sustainable Growth ◽  
African Countries ◽  
Export Markets ◽  
Track Record ◽  
Commodity Export ◽  
Strong Position

Although many African countries have shown steady economic gains in the new millennium, most are not positioned to sustain their progress. Instead, they continue to rely on traditional, low value-added commodity export markets that are unpredictable and not linked to the broader national economy. Or they rely on low-productivity, and in turn low-wage, traditional agriculture to drive employment. Any economic gains will be wiped out without a commitment to an economic transformation strategy; growth alone will not sustain development. Transformation is necessary and this means growth based on attributes that underpin an economy’s transformational change: diversified production, export competitiveness, productivity increases, technology upgrades, and human well-being. The African Center for Economic Transformation (ACET) defines transformation based on these attributes and Ethiopia has demonstrated a promising track record. How has Ethiopia put itself in a strong position for sustainable growth through transformation and what can other African countries learn from this?

scholarly journals Propuesta de mejora en la calidad del aire: caso Zona Metropolitana de Guadalajara

2021 ◽  
pp. 47-54
Author(s):  
Joel Garcia Galvan ◽  
◽  
Martin G. Romero Morett ◽  
Maria Magdalena Velazquez Contreras ◽  
Keyword(s):  
Air Pollution ◽  
Public Sector ◽  
Private Sector ◽  
Financial Analysis ◽  
Investment Project ◽  
Economic Activities ◽  
The Public ◽  
Environmental Focus ◽  
Didactic Material ◽  
The Relationship

This essay aims to analyze the various scenarios in economic activities and the relationship that exists between the Public Sector and the Private Sector, by proposing to work in a coordinated manner on an investment project with an environmental focus. For this case, about a decrease in air pollution in a part of the Guadalajara Metropolitan Area (Jalisco, Mexico). Based on the information seen in the Seminar “Prospective, complex thinking and transdiscipline”, and as part of the indicated activities, was? didactic material that exemplifies the development of concepts, methodology and economic and financial analysis tools used in the subject of Formulation and Evaluation of Projects taught in the Economics Degree of the University of Guadalajara. The logical framework methodology is used, in which the relationship between the Public Sector and the Private Sector is articulated, as links that occur systematically in a complex environment, such as air pollution in cities and that it affects the public health of the population.

Dancing with the Devil

2017 ◽  
Author(s):  
Yi-min Lin
Keyword(s):  
Driving Forces ◽  
Change Agents ◽  
Economic Transformation ◽  
Private Ownership ◽  
Public Enterprises ◽  
Economic Activities ◽  
Political Actors ◽  
The Public ◽  
Necessary Evil ◽  
The Devil

From 1978 through the turn of the century China was transformed from a state-owned economy into a predominantly private economy. This fundamental change took place under the Chinese Communist Party (CCP), which is ideologically mandated and politically predisposed to suppress private ownership. Dancing with the Devil explains how and why such an ironic and puzzling reality came about. The central thesis is that private ownership became a necessary evil for the CCP because the public sector was increasingly unable to address two essential concerns for regime survival: employment and revenue. Focusing on political actors as a major group of change agents, the book examines how their self-interested behavior led to the decline of public ownership. Demographics and the state’s fiscal system provide the analytical coordinates for revealing the changing incentives and constraints faced by political actors and for investigating their responses and strategies. These factors help explain CCP leaders’ initial decision to allow limited private economic activities at the outset of reform. They also shed light on the subsequent growth of opportunism in the behavior of lower-level officials, which undermined the vitality of public enterprises. Furthermore, they hold a key to understanding the timing of the massive privatization in the late 1990s, as well as its tempo and spread thereafter. The book illustrates how the driving forces developed and played out in these intertwined episodes of the story. In so doing, it offers new insights into the mechanisms of China’s economic transformation and enriches theories of institutional change.

Impact of economic growth on carbon emissions in selected West African countries, 1980–2019

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Richard Osadume ◽  
Edih O. University
Keyword(s):  
Economic Growth ◽  
Carbon Emissions ◽  
Secondary Data ◽  
West African ◽  
World Bank Group ◽  
Economic Activities ◽  
African Region ◽  
African Countries ◽  
Content Type ◽  
The Impact

PurposeThis study investigated the impact of economic growth on carbon emissions on selected West African countries between 1980 and 2019. Simon-Steinmann's economic growth model provides the relevant theoretical foundation. The main objective of this study was to ascertain whether economic growth will impact carbon emissions.Design/methodology/approachThe study selected six-sample countries in West Africa and used secondary data obtained through the World Bank Group online database covering the period 1980–2019, employing panel econometric methods of statistical analysis.FindingsThe outcome indicates that the independent variable showed a positively significant impact on the dependent variable for the pooled samples in the short-run, with significant cointegration.Research limitations/implicationsThe study concluded that economic growth significantly impacts the emissions of carbon, and a 1% rise in economic growth will result to 3.11121% unit rise in carbon emissions.Practical implicationsPolicy implementation should encourage the use of energy efficient facilities by firms and government and the establishment of carbon trading hubs.Social implicationsFailure by governments to heed the recommendations of this research will result to serious climate change issues on economic activities with attendant consequences on human health within the region and globally.Originality/valueThis is one of the comprehensive works on subject covering the West African region within the continent.

scholarly journals Financing the Second Five Year Plan

1961 ◽  
Vol 1 (1) ◽  
pp. 52-63
Author(s):  
Azizur Rahman Khan
Keyword(s):  
Growth Rate ◽  
Public Sector ◽  
Private Sector ◽  
Gross National Product ◽  
National Product ◽  
Investment Expenditure ◽  
The Public ◽  
Investment Programme ◽  
The Cost ◽  
Large Investment

The purpose of this paper is to indicate some of the problems involved in financing Pakistan's Second Five Year Plan. The Plan sets out the objective of increasing the gross national product by 20 per cent. The cost of this growth rate has been estimated at Rs. 19,000 million of investment expenditure over the Plan period, Rs. 9,750 million in the public sector, Rs. 3,250 million in the semi-public sector, and Rs. 6,000 million in the private sector.1 This is a large investment programme with per

scholarly journals Investing in health R&D: where we are, what limits us, and how to make progress in Africa

2019 ◽  
Vol 4 (2) ◽  
pp. e001047 ◽  
Author(s):  
Victoria Simpkin ◽  
Evelyn Namubiru-Mwaura ◽  
Lorcan Clarke ◽  
Elias Mossialos
Keyword(s):  
Private Sector ◽  
Research Output ◽  
Science Research ◽  
Research Capacity ◽  
Health Science ◽  
Future Research ◽  
African Region ◽  
African Countries ◽  
Health Science Research ◽  
Private Sector Investment

Global research and development (R&D) pipelines for diseases that disproportionately affect African countries appear to be inadequate, with governments struggling to prioritise investment in R&D. This article provides insights into the sources of investment in health science research, available research capacity and level of research output in Africa. The African region comprises 15% of the world’s population, yet only accounted for 1.1% of global investments in R&D in 2016. There were substantial disparities within the continent, with Egypt, Nigeria and South Africa contributing 65.7% of the total R&D spending. In most countries of the Organisation for Economic Co-operation and Development, the largest source of R&D funding is the private sector. R&D in Africa is mainly funded by the public sector, with significant proportions of financing in many countries coming from international funding. Challenges that limit private sector investment include unstable political environments, poor governance and corruption. Evidence suggests various research output and research capacity limitations in Africa when considering a global context. Metrics that reflect this include university rankings, number of researchers, number of publications, clinical trials networks and pharmaceutical manufacturing capacity. Within the continent there are substantial regional disparities. Incentivising investment is crucial to foster current and future research output and research capacity. This paper outlines some of the many commendable initiatives under way. Innovative and collaborative financing mechanisms can stimulate further investment. Given the vast inequalities across Africa in R&D, strategies need to reflect the different capacities of countries to address this disparity.

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