ResearchSpace
ResearchSpace is the institutional repository of the University of KwaZulu-Natal, unlocking knowledge, empowering impact, and preserving UKZN's research legacy.
Recent Submissions
Fintech innovations and banking sector dynamics: evidence from South Africa.
(2024) Mhlongo, Njabulo.; Kunjal, Damien.; Muzindutsi, Paul-Francois.
The South African banking sector, vital to the country’s socio-economic stability, is undergoing rapid transformation due to innovations in financial technology (Fintech). Regulated by the South African Reserve Bank (SARB), banks are essential for economic growth through capital provision, risk management, and transaction facilitation. Recent Fintech advancements offer more efficient, personalised, and cost-effective solutions, challenging traditional banking models. Against this background, this thesis aims to explore the impact of Fintech innovations on banking sector dynamics, focusing on African Bank, FirstRand, Standard Bank, Capitec Bank, Investec Bank Limited, Absa Group, Nedbank Group, and Finbond Group, which are publicly traded banks on the Johannesburg Stock Exchange (JSE) from 2000 to 2023. The study tests the hypothesis that Fintech innovations influence competition, performance, efficiency, and stability within the banking system using the appropriate panel regression model determined. The findings reveal that Fintech enhances competition, reflected by an increase in market power, particularly through mobile transactions that raise the banking sector's competition. While Fintech has not significantly improved bank performance indicators, it positively impacts operational efficiency, particularly through mobile transactions, suggesting a shift toward digital solutions. Stability results show no effects of Fintech on banking sector stability, with traditional capital structures remaining more influential than Fintech innovations. These findings stress the dual nature of Fintech's impact: while fostering competition and efficiency improvements in South African banking, it also introduces new risks in disrupting traditional banking services through more convenient and cost-effective alternatives that make banks compete more aggressively. As this landscape evolves, adaptive regulatory frameworks are being called for to balance technological advances with the need for stability within the banking sector.
The role of artificial intelligence in enhancing tax compliance among SMMEs: a scoping review and implications for South Africa.
(2024) Bongoza, Sinekhaya.; Sibanda, Mabutho.
South Africa’s economic stability relies significantly on Small, Medium and Micro Enterprises (SMMEs) that represent around 60% of businesses and enhance employment opportunities and economic growth. SMMEs face numerous challenges, including tax compliance. The complexity and cost of tax compliance are significant hurdles, as these enterprises often lack the necessary personnel and expertise to navigate intricate tax regulations, leading to potential tax penalties. Artificial Intelligence (AI) offers an effective solution to these issues by automating processes, improving accuracy, and reducing expenses. AI-powered tax compliance tools can help SMMEs to manage complex tax laws, minimise errors, and improve efficiency. They can also assist with data analysis, risk assessment, and audit preparation, allowing businesses to allocate resources to more strategic activities. Understanding these benefits is crucial to encourage SMMEs’ adoption of AI technology. The South African Revenue Service (SARS) has introduced several measures in order to streamline tax compliance, such as utilising technology and digital platforms. SARS’ digital transformation aims to modernise and enhance tax administration, demonstrating the important role played by tax in fiscal development. Technology is evolving at a rapid pace, making it at ease for taxpayers to access information and embark on tax-related activities, which used to take longer and required much data. To guide the research process, the study adopted a scoping review methodology. This approach allowed for a structured exploration of existing literature and evidence, helping to map key concepts and identify gaps related to AI-driven tax compliance among SMMEs.
This study aims investigates how AI can help small businesses in South Africa stay on top of their tax responsibilities. The research aims to find simple, practical ways to reduce the stress and
complexity of staying compliant. The study’s objectives included evaluating how AI can improve tax compliance, identifying the necessary infrastructure for AI-powered models, and determining the knowledge and skills required to implement these models. The findings have practical implications for tax practitioners, tax agencies and policymakers, informing the design of targeted
interventions and educational initiatives to increase tax awareness and foster a culture of compliance among SMMEs. By overcoming the challenges and leveraging AI technologies, SMMEs can
enhance their competitiveness and operational efficiency. This ultimately supports economic development and improves their compliance status, contributing to a more robust and fair tax
system. Some of the challenges faced during the study included limited access to reliable data due to confidentiality concerns, the possibility of participation bias, and the fast-paced evolution of AI technology.
Volatility spillovers and interconnectedness between cryptocurrencies and traditional asset classes in emerging markets.
(2025) Madondo, Lungelo.; Muzindutsi, Paul-Francois.; Kunjal, Damien.
Cryptocurrencies have emerged significantly in financial markets as a medium of exchange, seeking to disrupt traditional financial systems by allowing individuals to conduct peer-to-peer transactions without the interference of the third party. However, cryptocurrencies are marked by highly volatile prices due to their detachment from the traditional financial system. This volatility significantly spills over among cryptocurrencies and is suspected to extend to traditional asset classes, particularly in emerging markets. This is because emerging markets are often characterized by significant price fluctuations, driven by factors such as inflation rates, economic and political instability, and exchange rate volatility. As such, this study seeks to investigate volatility spillovers and interconnectedness between cryptocurrencies and traditional asset classes in emerging markets. To achieve the objective of this research, the study uses Bitcoin, Ethereum, Tether, Ripple, Litecoin, and Bloomberg Galaxy Cryptocurrency Index against the traditional asset indices of stocks, bonds, and commodities. The study incorporates daily closing prices from the 6th of October 2019 to the 31st of January 2024 and applies the Diebold and Yilmaz spillover approach to examine the nature of volatility spillovers between these cryptocurrencies and traditional assets. In order to capture the non-linear and time-varying nature of these volatility spillovers, the study employs the Time-Varying Parameter Vector Autoregressive (TVP-VAR) model which offers a more comprehensive analysis of the spillover effects over time.
For the robustness of the results, the sample period was divided into two segments, (1) the whole sample period and (2) the period during the COVID-19 pandemic. The findings suggest time-varying volatility spillovers during both market crises and stable periods. However, cryptocurrencies exhibit greater internal influence than external influence, indicating that they operate within their own isolated market, with a weak connection to stocks, bonds, and commodities. These findings indicate that investors can view cryptocurrencies as a distinct asset, offering potential diversification benefits when combined with stocks, bonds and commodities in emerging markets. For policymakers, the weak connection between the two markets highlights the need to focus on internal market dynamics and regulations tailored to address risks within the cryptocurrency market without relying on traditional market
mechanisms.
Un-cloaking the estuary: the current state of the uMngeni Beachwood Mangroves unveiled through creative practice-led research.
(2026) Adams,, Denise Ingrid.; Hall,, Louise Gillian.; Patrick,, Katherine Elizabeth.
This creative Practice-Led Research study arose from explorations of the uMngeni Beachwood Mangroves Estuary, situated in Ethekweni municipal area, KwaZulu-Natal, South Africa. The Estuary is of significant environmental importance to the area, but the biodiversity is threatened by pollution, invasive alien vegetation and species, as well as encroaching urban development. Within the broad context of global warming and climate change, raising awareness of the importance of biodiversity is paramount. The artist-researcher lives near the Estuary and knows it intimately. Through this study, she aimed to develop new ways of making visible the state of the Estuary, as opposed to simply repeating typically didactic environmental education messages. The artworks arose from an artmaking heuristic of wandering and meditating in the Estuary, collecting discards and natural artefacts. These items were incorporated into mixed-media artworks utilising natural materials from the Estuary, fabric rejects, hand-made dyes, stitching, printing and painting methods. Out of this practice, the research questions emerged and developed. This thesis is the exegesis accompanying the body of work exhibited at the culmination of the research. The study is draws on the philosophies of Deep Ecology by Naess, Weintraub’s Eco-Materialism, and current theories of plant life which challenge human-centric views. Zen Buddhism, Sumi-e painting, and the artist’s working life experiences in the clothing industry exerted influences on the work. The cyclical cross-pollination of the art practice with theory, journal writing, visual documentation, walking and meditation, led to un-envisaged creative developments. The processes are recorded extensively in a series of workbooks which enhance the text and the viewing of the artworks. Engagement of the senses through meditation revealed miniscule realities and the innate reparative mechanisms of the plants together with further discoveries in literature. Sublimation of painting and drawing skills made way for the artefacts of the Estuary to lead the way. This culminated in the creation of cloaks, unexpected somatic forms, in which the wearer may be absorbed into the translated realities of this Estuary and its life forms. The initial negative assumptions about the environmental degradation of the Estuary shifted to a more positive outlook, that of reparation. The intrinsic nature of the Estuary plants to repair damage helps to strengthen this eco-system, partially offsetting the ongoing degradation. The revelation of these positive elements was an unexpected outcome of this research, offering hope.
Teaching mathematics to isiZulu home language speakers in rural high schools: a study of teachers’ experiences.
(2023) Phoswa, Sifiso.; Shongwe, Benjamin.
Teaching mathematics in Ndwedwe, a rural area of KwaZulu-Natal where most learners are isiZulu home language speakers is investigated through the experiences of three mathematics teachers teaching in rural high schools located in the ILembe district. Understanding the teaching experiences of an abstract subject such as mathematics, this study attempts to respond to the main research question; what teacher experiences of teaching mathematics to isiZulu home language speakers are, and the subsidiary question of how teachers’ experiences assist in teaching learners for understanding in rural high schools. The study adopts Phenomenology as a methodology, and uses Interpretative Phenomenological Analysis as a methodological framework for handling and analysis of data, gathered from interviews and lesson observations. The findings of the study indicate that isiZulu is preferred by learners as they engage in classroom discussions, the learners are affected by their unsupportive backgrounds. To address learner challenges, teachers devise strategies to circumvent the adverse implications at school, which includes adapted teaching strategies, motivation, and creating additional time for learners to learn at school. In the study’s investigation of teachers’ experiences, it was revealed that mathematical language is a standalone language that is not dependent on either isiZulu or English, moreover, the teachers were shown to be central to the design of lessons despite resource challenges.