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This research empirically investigates consumers’ perception of real-time marketing as a marketing tool that is increasingly being used by businesses. Based on the review of literature, the paper aims to delve into real-time marketing and explore the elements of real-time marketing that influence consumers' perception of RTM campaigns. This study adopted a quantitative methodology. A total of 201 consumers completed an online survey in Gauteng, South Africa. To identify underlying factors that influence the consumer's perception of various real-time marketing campaigns, exploratory factor analysis was conducted. Descriptive statistic was used to provide a further summary of the basic characteristics of the sample. The research findings indicate that consumers value real-time marketing communication campaigns that offer value. Consumers' perception of value includes any real-time marketing campaign that offers some financial gain in the form of immediate and personalized discounts. This research provides retailers with a greater understanding of what consumers perceive as valuable and what they regard as clutter when it comes to real-time marketing campaigns

The purpose of this article was to assess the impact of financial market liquidity on international capital flows in emerging markets. Specifically, the research investigates the effect of bond market liquidity and stock market liquidity on foreign portfolio investments using data for five emerging African countries, being Egypt, Kenya, Mauritius, Nigeria and South Africa, for the period 2000 to 2020. The data was sourced from the Bloomberg and World Bank (WDI) databases. Panel data analysis (fixed effects model) was undertaken using three different liquidity measures: the effective spread; Amihud’s (2002) illiquidity measure; and market impact as measured by trading volume. Our findings revealed mixed results. It was found that stock market liquidity attracted foreign portfolio investments. Although bond market liquidity, as measured by the volume of trade, promoted foreign portfolio investment, it was different for the effective spread, as the higher the effective spread, the higher the inward FPI flows, and vice versa. Results on the effects of the bond effective spread on FPI show that as long as the bonds are above the investable grade, investors are not discouraged by the cost of trading. Our findings thus confirm that FPI inflows are predisposed on liquid and efficient host country financial markets. Further, the entrance of foreign investors in the host country’s domestic financial markets, leads to the enhancing of liquidity in the local market, thus increasing risk sharing between local and foreign investors.

The paper focuses on a scantly researched phenomenon, namely, the extent to which financial inclusion is influenced by corporate governance practices. The question that normally arises is whether corporate governance practices are tailored to supporting the financial inclusion mandate. The other question is whether there are certain corporate governance practices that advance financial inclusion. This paper reviews extant empirical literature on these matters with a view of stimulating debate on the subject. Cognisant that institutions that advance financial inclusion are largely financial institutions, the starting point is relating to contemporary corporate governance practice in financial institutions. We know that financial institutions belong to a specific class of corporations whose failure affects society at large because of the financial services they provide. As a result, they are heavily regulated and their corporate governance structures are bound to differ from those of conventional firms. Similarly, we know that financial inclusion institutions are special types of financial institutions with mandates to provide financial services to underserved population segments which equally require special treatment. The scant literature available shows, albeit not conclusive, some evidence of a positive relationship between sound corporate governance and financial inclusion. However, more research on how corporate governance affects different dimensions of financial inclusion is recommended.

Independent retailers face many challenges that influence their growth and development. Independent retailers are small businesses facing competition from major retailers in South Africa (SA) that have penetrated the townships and rural areas. The purpose of the study was to investigate the challenges that influence the development of independent retailers in SA. A survey was conducted among small independent retailers in SA. The convenience sampling method was adopted for the study due to the inaccessibility of a database on independent retailers in SA. Existing literature was used to design a questionnaire, targeted at small independent retailers, to investigate the challenges that influence their business performance. The findings of the study revealed that finance and marketing are the major challenges influencing the operations of small, independent retailers. Business-related challenges are the least challenging aspects for small independent retailers in SA. Independent retailers need to manage their businesses appropriately in order to survive and sustain their businesses. Independent retailers buy products from wholesalers while a few of them buy directly from manufacturers.

This study is motivated by threats faced by Somalia and other countries in fighting terrorism. Although several studies have attempted to explain the rise and dynamics of terrorism groups particularly al-Shabaab, this work is predicated more on how the terrorist activities threaten Africa and beyond informed by how these operations are sustained. This study aims to investigate threats to the continent and beyond by Al-Shabab and Fundamental Terrorism in Somalia.  In this study, a content analysis was used on quantitative and qualitative data obtained from publicly available datasets and secondary sources of research work on terrorism. The main contribution of this study is that, terrorism by the al-Shabaab is highly organized and that by skirting direct combat, the group has the potential for sustained fighting episodes despite waged campaigns to deter its spread. This is exacerbated by the reluctance to deploy many infantry forces from conventional armies to deal with the situation. The study may be useful to policymakers, terrorism experts, and scholars in accelerating measures of counter-terrorism.  

Independent retailers face many challenges that influence their growth and development. Independent retailers are small businesses facing competition from major retailers in South Africa (SA) that have penetrated the townships and rural areas. The purpose of the study was to investigate the challenges that influence the development of independent retailers in SA. A survey was conducted among small independent retailers in SA. The convenience sampling method was adopted for the study due to the inaccessibility of a database on independent retailers in SA. Existing literature was used to design a questionnaire, targeted at small independent retailers, to investigate the challenges that influence their business performance. The findings of the study revealed that finance and marketing are the major challenges influencing the operations of small, independent retailers. Business-related challenges are the least challenging aspects for small independent retailers in SA. Independent retailers need to manage their businesses appropriately in order to survive and sustain their businesses. Independent retailers buy products from wholesalers while a few of them buy directly from manufacturers.

The paper focuses on a scantly researched phenomenon, namely, the extent to which financial inclusion is influenced by corporate governance practices. The question that normally arises is whether corporate governance practices are tailored to supporting the financial inclusion mandate. The other question is whether there are certain corporate governance practices that advance financial inclusion. This paper reviews extant empirical literature on these matters with a view of stimulating debate on the subject. Cognisant that institutions that advance financial inclusion are largely financial institutions, the starting point is relating to contemporary corporate governance practice in financial institutions. We know that financial institutions belong to a specific class of corporations whose failure affects society at large because of the financial services they provide. As a result, they are heavily regulated and their corporate governance structures are bound to differ from those of conventional firms. Similarly, we know that financial inclusion institutions are special types of financial institutions with mandates to provide financial services to underserved population segments which equally require special treatment. The scant literature available shows, albeit not conclusive, some evidence of a positive relationship between sound corporate governance and financial inclusion. However, more research on how corporate governance affects different dimensions of financial inclusion is recommended.

The purpose of this article was to assess the impact of financial market liquidity on international capital flows in emerging markets. Specifically, the research investigates the effect of bond market liquidity and stock market liquidity on foreign portfolio investments using data for five emerging African countries, being Egypt, Kenya, Mauritius, Nigeria and South Africa, for the period 2000 to 2020. The data was sourced from the Bloomberg and World Bank (WDI) databases. Panel data analysis (fixed effects model) was undertaken using three different liquidity measures: the effective spread; Amihud’s (2002) illiquidity measure; and market impact as measured by trading volume. Our findings revealed mixed results. It was found that stock market liquidity attracted foreign portfolio investments. Although bond market liquidity, as measured by the volume of trade, promoted foreign portfolio investment, it was different for the effective spread, as the higher the effective spread, the higher the inward FPI flows, and vice versa. Results on the effects of the bond effective spread on FPI show that as long as the bonds are above the investable grade, investors are not discouraged by the cost of trading. Our findings thus confirm that FPI inflows are predisposed on liquid and efficient host country financial markets. Further, the entrance of foreign investors in the host country’s domestic financial markets, leads to the enhancing of liquidity in the local market, thus increasing risk sharing between local and foreign investors.

This study is motivated by threats faced by Somalia and other countries in fighting terrorism. Although several studies have attempted to explain the rise and dynamics of terrorism groups particularly al-Shabaab, this work is predicated more on how the terrorist activities threaten Africa and beyond informed by how these operations are sustained. This study aims to investigate threats to the continent and beyond by Al-Shabab and Fundamental Terrorism in Somalia.  In this study, a content analysis was used on quantitative and qualitative data obtained from publicly available datasets and secondary sources of research work on terrorism. The main contribution of this study is that, terrorism by the al-Shabaab is highly organized and that by skirting direct combat, the group has the potential for sustained fighting episodes despite waged campaigns to deter its spread. This is exacerbated by the reluctance to deploy many infantry forces from conventional armies to deal with the situation. The study may be useful to policymakers, terrorism experts, and scholars in accelerating measures of counter-terrorism.  

Since independence, Burundi has endured civil war episodes, five successful and two unsuccessful coup d’états. The instability resulted in the collapse of the economy despite the consummation of the Arusha Agreement. This study moves away from the propensity to only view the security challenges as pitting Tutsis and Hutus.  Such an analytical tendency generates distortions. This study was qualitative and employed a systematic review research methodology in identifying relevant texts. Document analysis was then used to interpret meaning from documents giving them voice over the study area. The main findings were hinged on conflict causes, key assumptions, violence and instability in the past, impunity and governance, the approach to political realism, truth and reconciliation constraints. This study concludes that although power-sharing could be a necessary move as a measure of building confidence, sharing power is not an adequate condition for sustainable development and peace.