The influence of non-financial nation brand image dimensions on foreign direct investment inflows in Zimbabwe

How a country is perceived by foreign investors is becoming increasingly significant to the ability of individual countries to attract foreign direct investment into their economies. In Africa, existing negative perceptions of the continent as an investment destination have been considered as an obstacle for foreign direct investment inflows to the continent in general. Although Zimbabwe offers foreign investors multiple lucrative investment opportunities, attracting foreign direct investment to the country presents a unique challenge due to the image of the country post the 1998-2008 economic crisis. Despite the vast research on the determinants of foreign direct inflows to particular countries, little is known about whether non-financial image-related factors influence the inflow of foreign direct investment to a particular country, especially a country with a unfavourable global image like Zimbabwe. The primary objective of this study was therefore to determine the perceived non-financial nation brand image factors considered to be influential for attracting specific foreign direct investment inflow opportunities in Zimbabwe. A comprehensive literature review resulted in the identification of nine independent variables (tourism, governance, people, culture and heritage, exports, investment and immigration, factor endowments, infrastructure, and legal and regulation frameworks), as well as four dependent variables (market-, resource-, efficiency- and strategic asset-seeking foreign direct investment inflow opportunities in Zimbabwe). A hypothesised model was developed in order to examine whether the independent variables have an influence on the dependent variables, and as a result nine hypotheses were formulated to test the relationships between the nine independent variables and each of the four dependent variables. A cross-sectional, quantitative deductive approach to research was employed in order to generate the data required for hypothesis testing. Purposive sampling techniques were employed to draw the sample frame for the study. A self-administered online survey was conducted, and generated empirical data from a final sample comprised of 305 investors who had applied to invest in Zimbabwe through the Zimbabwe Investment Authority between January 2009 and April 2015. Data was analysed using STATISTICA 12 software. Exploratory factor analysis was utilised to extract the constructs and validate the measuring instrument. Cronbach’s alpha coefficients were calculated in order to test the reliability and internal consistency of the measuring instrument. As a result, a total of six valid and reliable independent variables, and four dependent variables were retained for further analysis. The results of the Pearson product-moment correlation coefficients revealed mostly moderate correlations. The Multi-Collinearity diagnostics test confirmed the absence of collinearity between the independent variables and dependent variables respectively. Subsequently, the results of the four sets of multiple regression analyses, disclosed thirteen statistically significant relationships between the six independent variables and the four categorical dependent variables. Tourism had significant relationships with market-, efficiency- and strategic asset-seeking FDI inflow opportunities. Government actions had significant relationships with resource- and strategic asset-seeking FDI inflow opportunities. People had significant relationships with resource- and efficiency- seeking FDI inflow opportunities. Export had significant relationships with market-, resource-, efficiency- and strategic asset-seeking FDI inflow opportunities. Regulatory framework had significant relationships with market- and resource-seeking FDI inflow opportunities. The results of the Analysis of Variance revealed that investor status can be used to predict which non-financial nation brand image determinants played a role in the ultimate decision for taking up foreign direct investment opportunities in Zimbabwe. Further analysis of the role that the demographic profiles of the investors played in predicting which non-financial nation brand image determinants are considered influential in taking up foreign direct investment opportunities in Zimbabwe was confirmed in the Multivariate Analysis of Variance with thirty-four statically significant relationships identified. Further analysis by means of post-hoc Scheffé testing and Cohen’s d-values calculations confirm that thirty-nine practically significant mean differences were evident. This study makes a novel contribution to the empirical body of nation branding, foreign direct investment and investment promotion research by developing and testing a hypothetical model that synthesises facets of the three fields of study. This study represents a new discourse in the identification of the determinants of FDI (that being non-financial determinants) and provides an explanatory framework for the non-financial nation brand image determinants influencing each type of FDI inflow opportunity sought in Zimbabwe. It is within this framework that recommendations, based on empirical evidence, are made for the Government of Zimbabwe and the Zimbabwe Investment Authority. Some of these recommendations could be implemented within the short-term, while others may be more strategic in the long term. Recommendations made include that the Government of Zimbabwe undertakes significant policy reviews, continues its engagement with key external stakeholders such as other governments, supra-national financial institutions, and foreign investors, as well as adhering to existing favourable FDI policies. It is also recommended that the Zimbabwe Investment Authority adopt an intermediary role, by linking the Government of Zimbabwe with potential foreign investors through investor targeting, as well as promoting Zimbabwe as an investment destination by engaging in image-building activities such as public diplomacy, investor relations, specialised advertising and hosting investor forums with multiple, distinct investor segments. These image-building activities should be centered on the non-financial nation brand image determinants that foreign investors consider to be influential to foreign direct investment in Zimbabwe, and should be geared towards improving and managing the perceived image of Zimbabwe as an investment destination

Depiction of Shona marriage institution in Zimbabwe local television drama, Wenera Diamonds

Marriage is a highly celebrated phenomenon among the African people. It is one of the important institutions among the Shona and Ndebele people in Zimbabwe as expressed in the saying ‘musha mukadzi’ and ‘umuzingumama’ (home is made by a woman) respectively. However with the coming of colonialism in Zimbabwe, marriage was not given the appropriate respect it deserves. This has given impetus to this paper where the researchers in the study through drama want to bring out the depiction of marriage institution in a post -independence television drama, Wenera Diamonds (2017). This paper therefore, aims to show the impact of neo-colonialism on Shona marriage institution. The neo colonial period is characterised with the perpetuation of Western imperial interests through protocols of diplomatic relations, treaties and existing bilateral agreements which marked a new phase of relationships with former colonisers. The aim of this article therefore is to depict marriage institution in neo colonial Zimbabwe in Wenera Diamonds (2017), a Zimbabwean television drama. Using qualitative research methodology, the research employs content analysis to elucidate the depiction in the said performance. Guided by the Africana womanist perspective, the article argues that the indigenous knowledge needed for African social development is rendered irrelevant by a dysfunctional set of values of the western hegemony. Against that, the paper establishes that the depiction of marriage institution in Wenera diamonds is a reflection of imperialist colonial forces on the black person hence the need to go back to basics and resuscitate their culture

The Influence of Zimbabwe’s Export Profile on Foreign Investors Seeking FDI Opportunities in Post-crisis Zimbabwe

The Foreign Direct Investment-Exports nexus has been widely researched, however despite evidence of the bi-directional relationship, little is known about the reverse Exports-Foreign Direct Investment relationship. Thus, the study intended examine the influence of Zimbabwe’s Exports profile on the FDI decisions of foreign investors. The study set out to identify the export factors constituting Zimbabwe’s Exports profile and then test the relationship between Zimbabwe’s Exports profile and the four foreign direct investment market opportunity types. STATISTICA 2016 was utilised to apply Exploratory Factor Analysis, Principle Component Analysis and Multiple Regression to analyse the quantitative data generated from a purposive sample of n=305 foreign investors. Factors such as the existing global demand for Zimbabwe’s export products, and the export processing zone status allocation to foreign manufacturers in Zimbabwe were found to be some of the quite influential factors to foreign direct investment market entry motives. Importantly, the results indicate discernible statistically significant relationships between Zimbabwe’s Exports profile and market-, resource-, efficiency-, and strategic asset-seeking market opportunities. Thus, this study is novel, providing valuable insights into the Exports profile-Foreign Direct Investment nexus – significantly contributing to the extent of the literature within the foreign direct investment and behavioural economics discourses

The salient place brand factor(s) influencing medical tourism to South Africa

Regardless of its importance to the global tourism economy, there is still limited academic inquiry relating to Africa within the context of non-traditional tourism typologies, such as medical tourism. This article contributes to the broader understanding of the potential factors influencing medical tourism by extending place branding theory to the decision-making process of tourists within the South African medical tourism context. The present study examines the place brand - medical tourism nexus using data generated from a sample of n=233 conveniently sampled inbound tourists. Exploratory Factor and Multiple Regression Analyses were applied to the data. It emerged that South Africa\u27s socio-cultural place brand was found to be a statistically significant heuristic cue, positively influencing medical tourism to the country, pivoting aspects such as the country\u27s cultural practices and colonial heritage, as some of the key considerations in the decision making the process of tourists when considering South Africa as a medical tourism destination. Critically, the results associate medical tourism with the socio-cultural profile of South Africa, through the place brand as a heuristic cue for information symmetry. The study enriches both place branding and medical tourism discourse by providing empirical evidence of the nexus between the two constructs. Practically, destination marketers are provided with critical insights into tourist perspectives, and it is recommended that African governments and medical tourism facilitators collaborate to develop a nation branding theory-based framework as a decision support model for proactively managing and communicating the image of South Africa as a medical tourism destination

Exploring the Tourism-Poverty Alleviation Nexus in the Brics Groupof Nations

The tourism-poverty alleviation nexus is becoming an increasingly significant subject of academic inquiry within the tourism economics discourse. Using time series data from the World Bank (1995–2017) in a P-ARDL model, the present study explores the relationship between tourism (receipts from exports, the travel subsector, hospitality and accommodation subsector) and poverty alleviation (final household consumption) with tourism arrivals as the control variable within the context of the BRICS group. The results suggest that receipts from the travel subsector and exports met the a priori expectation – positively influencing poverty alleviation within BRICS nations in the long run. Contrastingly, receipts from the hospitality and accommodation subsector did not meet the a priori expectation of a positive sign, with the results indicating statistical insignificance in the long run. However, receipts from the hospitality and accommodation were found to only influence poverty alleviation in the short run. Relatedly, the results suggest that increases in consumption associated with growth in tourism arrivals did not influence poverty in the BRICS. The results point to the heterogeneity of the influence of tourism on poverty alleviation, whereby certain dimensions of tourism contribute to poverty alleviation in the long run and others do so in the short run. Based on these findings it is recommended that BRICS countries harness their tourism potential and promote intra-BRICS tourism to maximise the positive impact of travel and tourism export receipts on household consumption, which catalyses poverty alleviation

Human Capital Reputation as an Antecedent of Foreign Direct Investment Market Entry in Zimbabwe

 This paper examines the influence that the reputation of Zimbabwe’s human capital has as an antecedent of FDI market entry opportunities in the country. By synthesizing nation branding, behavioural finance and foreign direct investment theory, this paper contributes to the growing body of knowledge in human capital as a determinant influencing foreign investor behaviour within an African economic context. Empirical data was generated from a self-administered online survey of a purposively sampled population of 305 foreign investors within the Zimbabwean context. Exploratory factor analysis extracted the items that constituted the Zimbabwean human capital construct, with Cronbach’s alpha coefficients being utilized to measure the reliability of the measuring instrument. Descriptive statistics, Pearson product-moment coefficients and multiple regression analysis were employed to further analyze the data. The results revealed that foreign investors considered the availability of a sustainable, highly productive, skilled, retainable and inexpensive workforce, as the influential human capital attributes they considered for FDI to Zimbabwe. The empirical evidence further affirmed that the reputation of Zimbabwe’s human capital is an antecedent for resource- and efficiency-seeking FDI typologies to Zimbabwe. As a result, practical guidelines are provided for the Government of Zimbabwe and the Zimbabwe Investment Authority on the potential development and promotion of Zimbabwe’s human capital for the purpose of positively influencing investor behaviour, thereby attracting FDI to the country.&nbsp

The Role of E-Banking on the Switching Behaviour of Retail Clients of Commercial Banks in Polokwane, South Africa

This study focused on investigating the role of E-banking on the switching behaviour of retail bank clients in Polokwane, South Africa. Recently, studies have shown that people are switching banks more often than in the past. Circumstances that are beyond control cause people to switch. This has become a challenge in the banking industry as many banks lose their clients. However, newly developed technologies have brought many changes in the operation of banks. The new E-banking services have enabled bank clients to have access to their bank account for 24 hours without visiting the physical branch. A sample of 98 respondents was surveyed in Polokwane, South Africa using the convenience sampling technique. The cronbach alpha test was used to ascertain reliability of the findings. The findings reveal that demographic characteristics have much impact on the switching behaviour of commercial bank clients and acceptance of e-banking services. Switching factors such as bank charges, low interest rates on savings, promotion activities, location and switching costs were the major reasons for bank customers to switch banks

A Psychographic Analysis of Foreign Investor's Perceptions of the Non-Financial Factors Influencing Foreign Direct Investment to Zimbabwe

Understanding the role of psychographics in influencing financial consumer behaviour is an emerging discourse. There is a discernible gap in the literature relating to the psychographic profiling of foreign investors, more-so within the African context. This study examines the potential differences existing between investors in their rating of the non-financial factors influencing the consideration of FDI market opportunities in Zimbabwe (2009-2015) based on their psychographic profiles – investor status and investor motives. A quantitative cross-sectional deductive study was conducted. Data was generated via an online survey and was analysed utilising STATISTICA 12 software. The survey data from the sample of n=305 foreign investors was analysed by employing Multivariate Analysis of Variance, Post-hoc Scheffè test and the Cohen D’s effect sizes techniques. As a result, six statistically significant psychographic-based differences were established. The findings of this study provide important empirical insights into the role of psychology in investment promotion, and more significantly provides empirical evidence of psychographic-based differences. Thus, this study expands on the extant of the literature within behavioural finance theory on the role of psychographics in foreign direct investment decision-making, as well as the feasibility of market segmentation in investment promotion for national governments by identifying heterogeneity within investor groups

Strategies For Coping With Food Deficits In Rural Zimbabwe

A GJZ research article.The resourcefulness of African smallholders in the face of recurrent food deficits is often overlooked by professionals and officials concerned with food security. Food scarcity has provoked a wide range of interventions by exogenous institutions but only rarely have the coping strategies maintained by small farmers been recognized as affording a basis for such action. Research has shown that rural production systems in different parts of sub-Saharan Africa incorporate a wide range of activities designed to reduce the incidence and impact of food shortage (e.g. Campbell, D.J., 1984; Walts, 1983a; Matiza et al. 1989). These activities are integral to rural production systems and are based on resources and relationships found in the social, economic and political institutions of society and on the generosity of the local physical environment