Credit Usage, Hire Purchase Costs, and Consumer Protection in Retail Institutions in Botswana

This paper analyzes credit purchase practices in Gaborone, Botswana. Adopting a survey and a disguised interview technique, data was collected and analyzed on the usage rate of credit purchases. The hire purchase, which was the most popular form of credit, was examined in greater detail with respect to the costs of hire purchase, their comparison with other types of consumer credit, the compliance of hire purchase sellers to the hire purchase laws. It concludes with policy change recommendations on hire purchase and personal loan transactions. Key words: Consumer Debt; Hire Purchase; Credit Sales; Micro Finance; Personal Loans

Indigenous knowledge and school science: possibilities for integration

A thesis submitted to the Faculty of Science, University of the Witwatersrand, Johannesburg, in fulfilment of the requirements for the degree of Doctor of Philosophy. Johannesburg, 2014.Prior to democracy in South Africa, education was used as a means to achieve segregation, privileging a minority of the population in both economic and worldview domination. With the attainment of democracy in 1994, educational reform was aimed at getting rid of both apartheid content and method. The aims and principles of the new curricula (the Revised National Curriculum Statement Grades R-9, the National Curriculum Statement Grades 10-12, and later on, the Curriculum and Assessment Policy Statements) were aligned to those of the national constitution, which include the establishment of human rights, inclusivity, environmental and social justice, and valuing of Indigenous knowledge systems. In the science subjects, teaching and learning are expected to acknowledge the existence of different knowledge systems. In the absence of clear guidelines as to which Indigenous knowledge to include and how, the recognition of IKS in science classroom has largely been left to the teachers’ discretion. The purpose of this interpretive research study, carried out in collaboration with a rural community in KwaZulu-Natal Province, was three-fold. The first was to identify the Indigenous knowledge held by the community and the worldview underpinning that knowledge. The second was to find out what knowledge could be integrated with classroom science, and explore ways in which such integration could be done, considering students’ and community worldviews. The third was for the research to contribute to transformation in Indigenous knowledge research by following methods that recognised Indigenous knowledges, practices and languages as valuable. The findings from this study underscore the importance of extending the thinking about IKSscience integration beyond aspects that suit science content, to considering methods of teaching and learning science, as well as considering relevance to community needs

It matters who you are: Indigenous knowledge research and researchers

It is common for researchers in Indigenous Knowledge (IK) in science education research to draw on aspects of the scientific paradigm from their science training. The consequent research seeks to be objective. This paradigm is not necessarily appropriate for IK research. While there have been calls for IK-aligned methodologies (Chilisa 2012;Keane 2008; Smith 1999) there are few examples of how this may be approached in Southern Africa. Drawing on the centrality of story and relationship in IK, we illustrate how the researcher’s life experience shapes the research purpose, design and credibility.In refocusing research into IK, the relationship between research and the researcher needs greater acknowledgement. We present here story examples from three IK-science education studies.</p

The Impact of Money Supply Volatility on the Fisher Effect –A Botswana Empirical Perspective

To the extent that these authors have been able to determine, existing literature on the Fisher Effect has only attempted to vary methodological approaches to test for the existence and validity of the Fisher hypothesis. It is the objective of this paper to expand on the literature by determining the degree of influence of money supply changes on the validity and existence of the Fisher Effect. The study examines interest rates and money supply quantities in Botswana from 1989 to 2013 and uses the Johansen Cointegration test to determine the strength of the relationships. The results indicate that there is no long run relationship between money supply, inflation, as well as the Fisher Effect. Subsequently, the study recommends potential areas of research which should be explored to verify further money supply volatility effects on the Fisher Effect

A Perspective in the Attitude towards the Quality of Education Delivered Through Open and Distance Learning (ODL) System

This paper reviews the available literature on how to reach Open and Distance Learning (ODL) system potential customers or learners and potential quality practitioners. In this review, the following categories will be discussed: Praxis to Attract Learners in ODL System, The Use of IT/ICT Tools with ODL, and Praxis to Train ODL Trainers. The use of computer-mediated communication (CMC) as an integral part of the design of distance taught courses raises interesting challenges to our thinking about course design and learner support. These have typically been conceptualized as two complementary but distinct systems in distance education, characterized by different practices often carried out by different groups of staff. Where CMC is designed as an integral part of the course, with collaborative learning as essential to assessment and study, this separation breaks down. The design of online activities is integral to both learner support and the course content, with new possibilities for open and distance learning as a result. Where the learning group itself is a resource for study and personal development, it also becomes feasible to orientate courses and programmes towards local teams and communities. Online tutors play a key role and need to develop 'the technology of conversation' and expertise in the design of activities, as part of their facilitator role.

The role of Micro credit schemes in the growth of small and medium enterprise in Botswana

Small and micro enterprises in Botswana are relatively young. (G. Sunny & V. Babikanysia, 1994). Although this is the case, the Government has long recognized the importance of developing the small business and all efforts are made to encourage them through various assistance programmes. In its policy formulation processes, the Botswana government is guided by four major economic factors: Rapid economic growth, economic independence, sustained development and social justice. These are principles enshrined in the country's National Development Plan for the past two decades (Government of Botswana, 1988 a). For its part, SMME encourages rapid economic growth by increasing employment prospects thereby enabling economic independence by reducing dependence on imports (Government of Botswana, 1988 b); contributes toward sustained development by upgrading citizen skills through on-the-job training and providing essential training for employees who would be better empowered to start other own businesses (Government of Botswana, 1988 a). SMME also promotes social justice by creating sustained employment for unskilled workers (Alexander.1983). The biggest stumbling block towards flourishment of small and medium enterprises in Botswana is finance and the Botswana government has both realized this fact and raised to the occasion by way of establishing a Micro Credit Scheme administered by the National Development Bank. The study looked into the role played by the scheme in the growth of small and micro enterprises. Two sets of questionnaires were distributed for data collection, one targeting the national Development Bank (NBD) administration and the second to the beneficiaries of the scheme. The study revealed that the scheme has been partial successful in addressing its intended objectives. The most prominent problem faced by the scheme administrators being overdue loan repayments which have over time mounted an aim of addressing problems identified by the research study. (Af. J. Finance and Management: 2002 11 (1): 36-48

Consumer credit search

There is consensus among researchers that information is a critical economic commodity in market operations. In particular, consumers search and gather information with a purpose to optimise their decisions and choices, and thereby maximise their consumption utility. Consumer information search behaviour for goods has been extensively and robustly studied before. By contrast, research in consumer search for services remains relatively less explored, despite previous research indicating: i. a measurable distinction between goods and services; ii. that consumers perceive services to be riskier than goods; iii. that consumers engage different search strategies when searching for services as compared to goods; iv. a large and considerable contribution of the services sector to the global economy. Consumer debt and bankruptcy rates have grown dramatically in recent decades. While the literature is replete with studies directed at explaining market factors attributable to the observed trends in personal finances, there is limited research in consumer credit search. Also, despite anecdotal evidence suggesting that data smog affects consumer search behaviour, no research has been conducted to determine the effect of data smog on consumer search activity in an integrated approach. Further, the influence of different sources of financial information on consumer credit decisions is not fully understood. It was the objective of this study to contribute towards a better understanding of consumer credit search and the influence of different financial information sources on consumer credit decisions. To this end, this study proposed and tested comprehensive structural models of consumer credit search that incorporated both psychological and economic factors. Also, the proposed models explored the role of data smog as a search determinant. The proposed models posited that Consumer Credit Search was directly influenced by the factors of Perceived Financial Risk, Perceived Data Smog, Prior Memory Structure, Prior Credit Knowledge and Perceived Search Benefit, and indirectly influenced by Perceived Search Cost. Further, the study investigated the antecedents of Perceived Data Smog. In separate models, the study examined the perceived distinct influences of three different Financial Information Intermediaries on consumer credit decisions. The post-positivism paradigm informed the research methods adopted in the study. A total of 421 usable questionnaires were collected and then split into two discrete samples consisting of small credit (245 cases) and large credit (176 cases). Hypothesis testing was conducted using the Structural Equation Modelling (SEM) and the Paired-Samples t-test. The small credit search SEM results found Consumer Credit Search to be directly related to Perceived Financial Risk, Prior Credit Knowledge, Prior Memory Structure and Perceived Data Smog. Perceived Search Cost was found to be indirectly related to Consumer Credit Search. The model R2 for the main dependent variable was 0.69. The large credit search SEM results found Consumer Credit Search to be directly related to Perceived Financial Risk and indirectly related to Perceived Search Cost. The model R2 for the main dependent variable was 0.27. Further, the SEM results were suggestive that Perceived Search Cost and Prior Memory Structure are antecedents to Perceived Data Smog. The paired-samples t-test results from both the small and large credit samples indicated that the perceived influence of Personal financial information intermediary on consumer credit decisions was distinct from that of Commercial and Independent financial information intermediaries. The influence of Commercial information intermediary on consumer credit decisions was not perceived as distinct from that of the Independent information intermediary. There are several substantive contributions to theory that emerged from the study, notably: i. comprehensive structural models of consumer credit search, comparable in complexity with those on consumer search for goods, were advanced; ii. despite goods being characteristically distinct from services, consumer search patterns are similar when relationships are tested simultaneously; iii. the influence of perceived data smog on consumer external search was determined; iv. the antecedents to perceived data smog were established; v. the heterogeneity among the financial information intermediaries in influencing consumer credit decisions was established. The study findings had implications to policy and practice. In particular, the study findings suggested that Data Smog impedes on consumer decision-making process and hence efforts should be directed towards minimising it. It is suggested that policymakers and marketing managers have a role to play in a drive towards curbing Data Smog, creating a better informed consumer and improving market efficiency. The study concludes by highlighting the limitations of the research and by providing future research directions

Consumer credit search

There is consensus among researchers that information is a critical economic commodity in market operations. In particular, consumers search and gather information with a purpose to optimise their decisions and choices, and thereby maximise their consumption utility. Consumer information search behaviour for goods has been extensively and robustly studied before. By contrast, research in consumer search for services remains relatively less explored, despite previous research indicating: i. a measurable distinction between goods and services; ii. that consumers perceive services to be riskier than goods; iii. that consumers engage different search strategies when searching for services as compared to goods; iv. a large and considerable contribution of the services sector to the global economy. Consumer debt and bankruptcy rates have grown dramatically in recent decades. While the literature is replete with studies directed at explaining market factors attributable to the observed trends in personal finances, there is limited research in consumer credit search. Also, despite anecdotal evidence suggesting that data smog affects consumer search behaviour, no research has been conducted to determine the effect of data smog on consumer search activity in an integrated approach. Further, the influence of different sources of financial information on consumer credit decisions is not fully understood. It was the objective of this study to contribute towards a better understanding of consumer credit search and the influence of different financial information sources on consumer credit decisions. To this end, this study proposed and tested comprehensive structural models of consumer credit search that incorporated both psychological and economic factors. Also, the proposed models explored the role of data smog as a search determinant. The proposed models posited that Consumer Credit Search was directly influenced by the factors of Perceived Financial Risk, Perceived Data Smog, Prior Memory Structure, Prior Credit Knowledge and Perceived Search Benefit, and indirectly influenced by Perceived Search Cost. Further, the study investigated the antecedents of Perceived Data Smog. In separate models, the study examined the perceived distinct influences of three different Financial Information Intermediaries on consumer credit decisions. The post-positivism paradigm informed the research methods adopted in the study. A total of 421 usable questionnaires were collected and then split into two discrete samples consisting of small credit (245 cases) and large credit (176 cases). Hypothesis testing was conducted using the Structural Equation Modelling (SEM) and the Paired-Samples t-test. The small credit search SEM results found Consumer Credit Search to be directly related to Perceived Financial Risk, Prior Credit Knowledge, Prior Memory Structure and Perceived Data Smog. Perceived Search Cost was found to be indirectly related to Consumer Credit Search. The model R2 for the main dependent variable was 0.69. The large credit search SEM results found Consumer Credit Search to be directly related to Perceived Financial Risk and indirectly related to Perceived Search Cost. The model R2 for the main dependent variable was 0.27. Further, the SEM results were suggestive that Perceived Search Cost and Prior Memory Structure are antecedents to Perceived Data Smog. The paired-samples t-test results from both the small and large credit samples indicated that the perceived influence of Personal financial information intermediary on consumer credit decisions was distinct from that of Commercial and Independent financial information intermediaries. The influence of Commercial information intermediary on consumer credit decisions was not perceived as distinct from that of the Independent information intermediary. There are several substantive contributions to theory that emerged from the study, notably: i. comprehensive structural models of consumer credit search, comparable in complexity with those on consumer search for goods, were advanced; ii. despite goods being characteristically distinct from services, consumer search patterns are similar when relationships are tested simultaneously; iii. the influence of perceived data smog on consumer external search was determined; iv. the antecedents to perceived data smog were established; v. the heterogeneity among the financial information intermediaries in influencing consumer credit decisions was established. The study findings had implications to policy and practice. In particular, the study findings suggested that Data Smog impedes on consumer decision-making process and hence efforts should be directed towards minimising it. It is suggested that policymakers and marketing managers have a role to play in a drive towards curbing Data Smog, creating a better informed consumer and improving market efficiency. The study concludes by highlighting the limitations of the research and by providing future research directions

Decolonising Methodology: Who Benefits From Indigenous Knowledge Research?

It is common for indigenous knowledge (IK) researchers in South Africa to conduct studies within conventional Western paradigms, especially in the field of IK-science curriculum integration. The scientific paradigm usually takes precedence and research publishing follows the rules of the academy. There is an inherent paradox in this practice. An endeavour that aims to redress Western knowledge hegemony and decolonise the school science curriculum often judges its own value in terms of the very system it critiques. While much useful work has been done in IK-science curriculum integration, and calls are made for appreciating both knowledge systems, it is concerning that the research knowledge is available to academics and generally not to indigenous communities who are usually cocontributors (at least) to the research data. This paper argues for research processes and outcomes that could benefit indigenous communities. We present examples drawn from three science curriculum studies in different areas of South Africa. We briefly describe the research contexts, and the ways that the researchers sought to ensure knowledge was shared in relevant representations with each community. We also discuss some of the dilemmas we encountered and offer suggestions for strengthening knowledge dissemination, appreciation, preservation, as well as reimagining IK for new generations