School of Business and Management Sciences

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A stakeholder founded business model for strategic management of innovation hubs: A case of Zimbabwe universities innovation hubs
(Journal of African Education (JAE), 2022-08) Simuka, Joshua; Moyo, Michael; Chinoperekweyi, Justine; Jakazi, Victoria; Makoko, Gaone Nikki; Nyagumbo, Dorothy Rudo; Nyausaru, Paul; Bajilla, Winnie; Mutenherwa, Menard
This article presents a synergistic framework for Organization Development (OD) practitioners, drawing insights from the Regenerate 2025 International OD Conference. The framework centers on Strategic Foresight, Regeneration, and Transformation as interconnected pillars for organizational evolution. It emphasizes the critical interplay of foundational elements knowledge, skills, and use of self - with key regenerative practices. Crucially, Nature-inspired Wisdom, Group Coaching, Storytelling, Appreciative Inquiry, embracing Artificial Intelligence, and Indigenous Paradigms, with Ubuntu as a cornerstone, are highlighted as profound influences that inform OD work and manifest regenerative potential in social systems. This framework equips practitioners to foster adaptive capacity, relational capital, and generative learning, guiding organizations toward flourishing, purpose-aligned, and resilient futures. It directly amplifies both the Sustainable Development Goals (SDGs) and the Inner Development Goals (IDGs), demonstrating how inner transformation catalyzes outer growth, directly impacting the day-to-day lives of people and the health of the planet.
A stakeholder founded business model for strategic management of innovation hubs: A case of Zimbabwe universities innovation hubs
(Journal of African Education (JAE), 2022-08) Simuka, Joshua; Chinakidzwa, More
The importance of innovation hubs and business models continues to grow yet research remains concentrated in developed countries. Although several researchers provide evidence of the importance of innovation hubs, very little of similar evidence exists in the area of business models and innovation hubs. Empirical evidence of the business model formulation for innovation hubs particularly from developing countries remains scarce. The purpose of this paper was to establish a stakeholder founded business model for the strategic management of innovation hubs in Zimbabwean universities. To achieve this, a positivist research philosophy was adopted. A survey of 120 respondents constituting heads of academic departments, final year students, and 156 entrepreneurs in the innovation hubs was used. Closed-ended questionnaire was distributed online. The data was analyzed statistically using SMARTPLS3 and PLS-SEM was conducted. Results of this study provides that communication channels, customer segments, cost structure and key partners significantly influence the stakeholder founded business model of an innovation hub. These results imply that universities must develop contextual innovation hub business models that increase the rate of commercializing innovations as well as technopreneurship activities. The study contributes to literature by extending the stakeholder founded business model and innovation hub discussion to the university environment in a developing country context. This was important because business model knowledge is contextual, as such cannot easily be transferred from one country to the other.
Acceptance of E-Resources by Students in Zimbabwe State Universities’ Libraries: A Consumer Behavior Perspective
(International Information & Library Review, 2017-11-29) Mbengo, Pinigas; Ruzande, Cleopas; Phiri, Maxwell. A
E-resources have a significant contribution toward students learning in universities, but their adoption has not reached its full potential in Zimbabwe. The major purpose of this study was to explore the acceptability of e-resources in Zimbabwe state universities’libraries by students. A survey study involving a sample of 233 respondents was done to measure the preparedness of undergraduate and postgraduate students to adopt e-resources. Structural equation modelling was used ascertain the results. Results from structural model revealed that performance expectancy and hedonic motivation had no statistically significant influence on behavioral intention to adopt e-resources while effort expectancy and facilitating conditions had a negative and insignificant impact on behavioral intention. However, there was sufficient evidence indicating that social influence, price value and habit had a statistically significant and positive influence on behavioral intention to adopt e-resources. Academic and managerial insights were drawn from this study and theoretical and practical recommendations in line with findings were suggested.
AN INVESTIGATION OF THE PROFILES OF ZIMBABWEAN STEM UNDERGRADUATE FRESHMEN AS INPUT TO ENTREPRENEURSHIP EDUCATION FOR STEM STU
(JOURNAL OF LANGUAGE, TECHNOLOGY & ENTREPRENEURSHIP IN AFRICA, 2018) Masunda, Makanzwa Mercy; Chitumba, Charles; Mushayavanhu, Tawanda Prosper; Simuka, Joshua
Application of DEA in the evaluation of bank efficiency in Zimbabwe: A comparative analysis of multi-currency era and Zimbabwean dollar period (2004- 2010)
(International Conference on Information and Financial Engineering (ICIFE ), 2012) Muvingi, Jacob; Muvingi, Jacob
Banks are very important intermediaries in the economy. They eliminate the informational problems between surplus economic units and deficit economic units by monitoring the latter and ensuring a proper use of the depositors’ funds. An efficient financial sector should reduce transaction costs and thus increases the share of savings channelled into productive investments. In the past eight years Zimbabwe’s economy recorded negative growth rates, but measures put in place in the past two years were highly targeted on the achievement of positive growth rates. Attainment of the set economic targets relies so much on a well functioning financial sector. The main objective of the study was to ascertain bank efficiency scores of Zimbabwean banks for the two currency periods understudy, that is the Zimbabwe dollar era and multicurrency era. Furthermore an analyses on the degree of improvement required for each bank to be efficient was carried-out. The study utilised the financial intermediation approach based on data envelopment analysis. The methodology had two inputs and two outputs; total deposits , interest expenses , total loans and advances, and interest income. Adoption of multi-currency in 2009 was associated with a drop in bank efficiency. All private owned banks, both foreign and locally owned banks, recorded higher efficiency scores as compared to the publicly owned banks, both foreign and locally owned banks .Bank efficiency of seven of the banks understudy improved under the multi-currency regime, whilst six banks recorded a decline of bank efficiency in multi-currency. Year 2004 had four banks with efficiency scores of 100%, whereas 2009 had three banks and lastly 2010 has two banks. Under this criteria year 2004 is more efficiency than the two periods in multi-currency, however year 2004 had four banks with efficiency scores below 50%, 2009 has three banks and lastly 2010 has one bank. Migration of an entity from one banking type to another, resulted a drop on bank efficiency .Size of a bank in terms of deposits does not translate to high bank efficiency. The low efficiency of foreign owned banks during the Zimbabwean dollar era was attributed to restrictive credit creation policies. The bank inefficiency in 2009 was mainly caused by high interest expenses emanating from liquidity challenges associated with the use of foreign currencies in place of the domestic currency. Banks with the least requirement adjustment for interest expense during year 2010 were expected to increase their loans and advances in order to achieve efficiency, in an environment characterised by liquidity improvements.
An Assessment of Zimbabwean Merchant Banks Conformity to International Best practices in risk management
(IACSIT Press, 2011) Muvingi, Jacob
A study on the assessment of Zimbabwean Merchant banks conformity to international best practices in risk management was driven by the new trend in the form of the globalization of financial markets and the recent move by Zimbabwean financial institutions to expand regionally. The specific risk management practices which were considered include, risk capital determination approaches, risk infrastructure and stress-testing practices. A survey research design was used to carry out the research through use of questionnaires and interviews; additionally the Basic Indicator approach was used to quantitatively assess the adequacy of the risk capital. The main objective of the research was to check if Zimbabwean Merchant bank practices are in conformity with international best practices in risk management, covering the above mentioned areas. There is a lack of momentum towards Basel II implementation despite calls by the Central Bank since 2006. Risk management infrastructure of Merchant Banks in the form of operational and credit risk technology lacks capabilities recommended by the BIS ,operational risk capital set-aside by Merchant banks is insufficient to cover operational risk, less benefits are being derived from risk management investments and this retard their desire by banks to conform to international best practices in risk management, majority of banks’ ORM practices are placed between foundation and intermediate stage of capco framework, whereas CRM practices are placed on the intermediate stage, stress testing approach on credit risk is disastrous considering the integrated nature of risk exposures. Basel II implementation challenges were identified and their magnitude explains non-conformity to international best practices in risk management.
Causal Relationship between financial sector development and economic growth: a case of Zimbabwe
(IOSR Journal of Business and Management, 2015-04-20) Chisunga, David
This paper aims to investigate the impact of financial sector development on economic growth in Zimbabwe, the reason being that no such research has been carried out in Zimbabwe. The research utilized secondary data for the period 1995 to 2008.Granger causality test is used to test the causality between economic growth and four financial sector development indicators. Johansen co-integration approach is used to test the long run relationship between economic growth and financial sector development indicators. The paper found out that granger causality runs from economic growth to financial sector development. The results support some empirical evidence that postulates that the granger relationship runs from economic growth to financial development and is there is a positive relationship in the long run. The study provides empirical evidence that economic growth granger causes financial sector development and there are positively related in the long run. Therefore, it is important that the government of Zimbabwe should implement policies that fosters economic growth and this will subsequently promotes financial sector development
A Comparison Between The Egarch Model and Multifactor Risk Modelin Predicting VaR: The Case of The Zimbabwe Stock Exchange.
(2014) Rwodzi, Ephania
Following the latest global financial crisis and the ongoing sovereign debt crisis, accurate measuring of market losses has become a very current issue not only in developed markets but in less developing markets like Zimbabwe. One of the most popular risk measures is Value-at-Risk (VaR); the Basel committee has encouraged the use of VaR as a measure of credit risk and market risk (thus the breakthrough of Basel 111 after the Eurozone debt crisis). In this research two predictive models have been used for estimating VaR for the ZSE. The two models are compared in terms of their ability in giving an accurateVaR estimate which does not underestimate the market risk of the Zimbabwe Stock Exchange (ZSE). The EGARCH model used the actual stock returns of the ZSE indices and the Multifactor Risk model assumed stock returns to be a function of four risk factors in predicting VaR. Applying the Kupiec test and the Basel Traffic light approach EGARCH model was found to be more accurate in estimating VaR for the ZSE as compared to the Multifactor Risk model.Due to the fact that the EGARCH model was able to capture not only volatility clustering and leptokurtosisbut it was also able to capture leverage effects in stock returns. A recommendation was made for further studies that the Multifactor Risk Approach explained in this document can be combined with the EGARCH model in VaR estimation. To allow for the inclusion of the risk factors in estimating VaR at the same time taking into consideration the volatility clustering, leptokurtosis and leverage effects in stock returns. Basing on the research findings a recommendation was also made to the investors and the stakeholders of the stock market to use a predictive model that can capture volatility clustering, leverage effects and risk factors in predicting VaR for the stock market. Lastly a VaR program was designed to answer one of the research questions using PHP; a lower level programming language that allows for many more functions than other programming language, such as login functions and graphical displays. This program was named VaR-Estimator.
Comparison of the lee-carter and arch in modelling and forecasting mortality in Zimbabwe.
(2014) Taruvinga, Rodney
This paper aim to determine which model best fit the mortality profile of Zimbabwe. The model that were being compared were the LEE-CARTER and ARCH and the period under review was from 1983-2004 using mortality rates of five years age interval. The parameter of the LEE-CARTER model were estimated using singular value decomposition. The box Jenkins approach was used to determine the order of lags for the ARIMA. An ARIMA (1, 1, 1) was used to forecast the overall mortality levels. To determine which model best fit the mortality profile of Zimbabwe goodness of fit using the Kolmogorov-Simonov and root mean square error was used. The result suggested that the LEE-CARTER model provided a better fit as compared to ARCH. However both models failed to fit for ages between 50-59 years. Both models were used to forecast but selecting the one that had the best fit of the two model on a particular age group interval for the period 2005-2014.This paper concludes that generally the LEE-CARTER model provided a better fit for mortality profile of Zimbabwe.
Cybercrime and Digital Forensics
(HIT, 2025-07-25) HIT
Default Prediction Models a Comparison between Market Based Models and Accounting Based: Case of the Zimbabwe Stock Exchange 2010-2013
(Journal of Finance and Investment Analysis,, 2015-03-20) Muvingi, Jacob; Nkomo, Dingilizwe; Mazuruse, Peter; Mapungwana, Patricia
Default prediction is relevant to equity investors in Zimbabwe. The study examined the performance of two bankruptcy prediction models, the accounting ratio-based (Z-Score) model and the market based (KMV distance to default) model. The Z-Score model developed has two variables, market value to long term debt and EBIT to current liabilities and uniquely describe Zimbabwe’s corporate environment. The research concluded that accounting model (Z-Score) has superior bankruptcy prediction power. The model achieved 0.959 accuracy ratio against the market based model 0.509. Companies that went bankrupt during the period had shown signs of poor financial performance in prior years.
Digital transformation strategy for print newspapers: A Conceptual Framework
(Thoth Publishing House, 2023) Kudzanai Sharara,; Joshua Simuka; Tafadzwa Zimucha
The study examined the impact of migration to digital platforms as a source of news and information on Zimpapers’ Newspaper Division financial performance. The objectives were to assess factors that are influencing the migration to online news platforms away from print; to analyze the effect of digitalisation on revenue performance of Zimpapers’ Newspaper Division; to evaluate the effect of digitalisation on the cost efficiency of Zimpapers Newspaper Division; to examine the impact of digitalisation on Zimpapers Newspaper Division’s profitability. The main objective was, however, to develop a digital transformation framework for print newspapers that can be used to improve financial performance. The study was theoretically guided by the Technology Acceptance Model (TAM), Resource Based View (RBV) theory Pillars of Digital Transformation Framework, and the Planned Change Theory. The study adopted a pragmatism philosophy as well as employ a mixed approach to enable the testing of hypotheses and information probing. An explanatory survey design was employed to explain how digitalisation affects the financial performance of Zimpapers Newspaper Division. The study targeted Zimpapers employees and management. Questionnaires and structured interviews were the data instruments. Stratified random sampling was used to select the respondents for the questionnaire while for interviews purposive sampling method was used. Data was analysed through descriptive and inferential statistics generated from SPSS. Interviews were analysed qualitatively through thematic content analysis. Findings showed that there is need to develop a digital transformation strategy framework that includes retraining and upskilling of employees; investment in modern technologies and modern platforms in order to enhance the financial performance of Zimpapers' Newspaper Division. In other words, migration to online media platforms by readers and advertisers negatively impacted on Zimpapers Newspaper Division's financial performance. Preliminary findings are also showing that there is need to develop a framework that covers all aspects of the business from human capital, systems and products to enhance the financial performance of Zimpapers' Newspaper Division.
E-learning Adoption by Lecturers in Selected Zimbabwe State Universities: An Application of Technology Acceptance Model
(Journal of Business Administration and Education, 2014-01-01) Mbengo, Pinigas
The Technology Acceptance Model has widely been used in various studies in understanding information systems. However, this has been used intensively in developed economies with little application in developing economies like Zimbabwe. The rapid diffusion of the Internet has generated a rejuvenated interest and motivation in the role of new information and communication technologies in higher education and learning in Zimbabwe. The major purpose of the study was to explore the attitude of Zimbabwean lecturers in universities towards e-learning systems by applying TAM. Five hypotheses were developed basing on this model. The results indicated that significant relationships were recorded for perceived usefulness, perceived ease of use, attitude and behavioural intention to use e-learning. However, the relationship between perceived usefulness was not supported. A path model was developed to analyse the relationships between the variables that explain the attitudes of lecturers towards acceptance of the e-learning system. This study was important in that it was able to gauge the preparedness of state university lecturers towards e-learning use and it also discussed the benefits and challenges of the system to university communities and their employees. The outcomes of e-learning will enhance the lecturers‘ appreciation of e-learning acceptance and will assist the Zimbabwean government decision makers in planning, evaluating and implementationof e-learning at various levels of learning establishments. Key words: Adoption, Attitude, E-learning, Lecturers, Technology Acceptance Model (TAM), Zimbabwe State Universities
Effect of Industry Networks and Government Support in the Commercialisation of Research Outputs: A case of Zimbabwe State Universities
(Journal of African Education (JAE), 2023-04) Joshua Simuka
The main aim of the study was to ascertain the effect of industry networks and government support on the commercialisation of research outputs in Zimbabwe‘s state universities. The study adopted the positivist philosophy and therefore made use of quantitative research design in answering research questions. Self-administered questionnaires for state universities (167) were used as data collection tools. The data was analysed statistically using Smart PLS3.2.1. In order to address reliability and validity of the study, composite reliability, average variance Extracted and convergent validity tests were conducted. Furthermore, collinearity tests were conducted. The results of this study indicate that industry networks and government support statistically significantly influence the commercialization of research output. These results imply that universities must develop strategic partnerships so as to increase commercialisation of research outputs. The government must also provide research grants to enhance the research and development process, which results in commercialisable research outputs. The study contributes to the literature by extending the public-private partnerships and government influence discussion to the university environment in a developing country context. The study recommends educating state universities, the public, and private partners about partnership arrangements' benefits. Future studies could focus on developing strategies or frameworks for the formation of strategic industrial network.
Estimation of Term Structures using Nelson-Siegel and Nelson-Siegel-Svensson: A Case of a Zimbabwean Bank
(Journal of Applied Finance & Banking, 2014-11-01) Muvingi, Jacob; Kwinjo, Tafadzwa
The primary objective of the study was to determine the best parametric model that can be used for fitting yield curves for a bank between Nelson-Siegel model and Nelson-Siegel-Svensson.Nelson-Siegel and Nelson-Siegel-Svensson models using Ordinary Least Squares after fixing the shape parameters to make the models linear models. A t-test conducted is conducted on the adjusted R2 of the two models and results showed that Nelson-Siegel-Svensson model fits better the yield curves of the Bank compared to Nelson-Siegel model. An analysis of the out-of-sample forecasting abilities of the two models using AR(1) conducted using E-views shows that the two parametric models have excellent out-of-sample forecasting abilities on all of their parameters. The time independent of Nelson-Siegel-Svensson model was found to be negative in most of the time and could not be interpreted as a long run yield of the Bank. It is also highlighted that the models produces very low levels of R2 in many cases because of the high volatility that is found in the market interest rates of certificates of deposits. The estimated yield curve may be used as a reference curve for funds transfer pricing systems.
An Evaluation of the Effectiveness of E-banking Security Strategies in Zimbabwe: A Case Study of Zimbabwean Commercial Banks
(Journal of Internet Banking and Commerce (JIBC), 2012-12) Zimucha, Tafadzwa; Zanamwe, Ngonidzashe; Chimwayi, Kerina Blessmore; Chakwizira, Elijah; Mapungwana, Petronella; Maduku, Tinovimbanashe
he introduction of e-banking has often been believed to be inhibited by security threats among other issues. Few studies have evaluated the effectiveness of e-banking security strategies in spite of its apparent impact on adoption of e-banking. This research evaluated the effectiveness of e-banking security strategies in Zimbabwe. The adoption of e-banking by commercial banks increases security risks, potentially exposing their isolated systems to open and risky environments. The increasing popularity of e-banking has attracted the attention of both legitimate and illegitimate banking practices, thereby, exposing customers to criminal activities, fraud, thefts and various other threats of similar nature. Thus, it is imperative to deliver a secure e-banking system to avoid the risk of negative effects which include clients accounts being tampered with, phishing or identity theft. In order to achieve our broad aim, a representative sample of 31 participants from 15 commercial banks completed questionnaires which were analysed using SPSS. From the analysis, it was found out that the majority of banks are using between four and five e-banking security strategies. The strategies included passwords, firewalls, encryption, virtual keyboards, pins and access codes and secure socket layers. It was therefore concluded that Zimbabwean banks are effective in offering secure e-banking services.
Fraud Risk Management
(HIT, 2025-07-24) HIT
Impacts of using non automated technologies on the Business Performance of Zimbabwean metal recycling industries
(2022) Plaxedes Musademba; Joshua Simuka; Tafadzwa Zimucha
Sustainable technologies play an important role in businesses by reducing negative environmental effects, avoiding depletion of natural resources whilst ensuring productivity. Zimbabwe is importing metal steel products that could be produced locally if local foundries adopt the rightful technologies. Most of Zimbabwean metal recyclers are using manual methods in the recycling process. The study looked at the negative effects of using manual production systems on the business performance of the Zimbabwean metal recycling industries. Qualitative and quantitative data collection techniques were adopted through the use of questionnaires and survey interviews. The researcher collected quantitative data through a questionnaire.77 out of 109 distributed questionnaires were returned and filled correctly by production personnel in themetal recycling industry. This translated to 70% response rate. Semi-structured interviews were conducted for the purposes of gathering qualitative data. Quantitative data revealed that metal recyclers are facing challenges of reduction in processing speeds, reduction in operation profits, poor product quality and high risk of getting injured due to the use of manual production methods. The study revealed that Zimbabwean metal recyclers are facing many challenges which to a greater extent are caused by their operation methods.
Internal Marketing Elements’ Influence on Employee Performance: A Case of Harare Institute of Technology in Zimbabwe
(Journal of Business Administration and Education, 2014-01-03) Mbengo, Pinigas; Chinakidzwa, More
A considerable number of organisations in the service industry are realising the significance of internal marketing as they address and respond to the changing environment in order to obtain competitive advantage. The purpose of this paper is to evaluate the internal marketing mix elements vital for employee performance at Harare Institute of Technology. Most government institutions have remained rigid due to their bureaucratic structures and this has caused them to adopt slowly new techniques like internal marketing that foster innovation and productivity. In order to make a break through to this problem, most European state based institutions have marketised their operations. 106 questionnaires were distributed to both academic and non-academic staff. The relationships of the variables in the proposed model and the properties of the scale were analysed using the Statistical Package for Social Sciences. The findings of the study show that there existed strong relationships between training and innovation, empowerment and motivation. However, internal processes were not related at all to employee productivity. Based on the results, a considerable number of recommendations and suggestions were made.
Mobile money usage in rural areas of Zimbabwe - case of Mudzi District
(nternational Journal of Scientific & Engineering Research,, 2015-02-03) Chinakidzwa, More; Mbengo, Pinigas; Nyatsambo, Marcelene
Mobile money is increasingly becoming popular in Zimbabwe. Availability of mobile money agents in rural areas is increasingly improving. This had dramatically simplified banking to the majority of the rural poor unbanked Zimbabweans. Consumers now enjoy much convenience offered by these mobile money services. However mobile money usage is still higher in urban areas than in rural areas although significant penetration levels can be witnessed. Most people in rural areas use mobile money more to receive money than any other service. About 69% of respondents in this survey have used mobile money. This figure shows a significant growth in mobile money usage. Convenience is the major driver to mobile money usage in rural areas. This survey was done in Mudzi and used face to face interviews as well as questionnaires. Financial services providers need to open more outlets in rural areas if they wish to reduce the unbanked population