This paper investigates green investments in energy and mining firms in South Africa to determine the efficiency level in terms of overinvestment and underinvestment. The general Richardson residual measurement model is employed, and an enhanced model is created by including variables that influence green investment, such as political connections and pollutant emissions. Data from 17 companies (5 energy and 12 mining) were used because of the significant effects of their operations on the environment over the period between 2015 and 2022. The study findings show that, in comparison to the estimated optimal investment level, South African energy and mining firms are not consistent regarding their investment level. It interplays between underinvestment and overinvestment. However, both firms demonstrated the tendency to green investment inefficiency due to underinvestment recorded in the latter years of the sample period. The study provides understanding as regards green investment levels of energy and mining firms and hence recommends adequate oversight and formulation of environmental policy by the government to ensure green investment efficiency in line with both national and international policies and regulations to facilitate a sustainable environment.

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This study aims to examine the internal determinants of financial performance of food supermarkets listed on the South African stock exchange. Food supermarkets play an integral role in socio-economic development of the country. The study employed an econometric approach utilizing fixed effect panel data. Drawing information from audited financial statements, data were gathered from four major listed food supermarkets in South Africa covering the period from 1994 to 2022, resulting in a total of 116 observations over 29 years. The robust longitudinal statistics obtained from balanced data revealed a significant positive correlation between equity financing, size of corporate governance, and current debt with financial performance, as measured by sales revenue at 0.0000, 0.054, and 0.000 significance levels, respectively. The findings indicate that as these variables increase, the financial performance of the studied food supermarkets (Shoprite, Woolworths, Spar, and Pick n Pay) also increases. Conversely, a negative and significant relationship is noted between company age, current assets, and financial performance at significance levels of 0.007 and 0.002, respectively. This suggests that as these variables increase, financial performance will decrease. As per the research findings, it is imperative for supermarkets to uphold a well-rounded blend of equity and debt and adopt inventive business approaches as they mature to improve financial outcomes. Therefore, the study proposes a framework focusing on internal factors that impact the financial performance of listed food supermarkets in South Africa.

This study investigated the impact of financial inclusion, driven by digital financial platforms, on economic growth in Ghana between 2000 and 2023. Using secondary data from the World Development Indicators, the analysis applied Nonlinear Autoregressive Distributed Lag (NARDL) and Quantile ARDL (QARDL) models to capture both asymmetric and distributional dynamics. Existing literature affirmed the positive role of financial inclusion in development, but it often assumed linear and homogeneous effects and overlooked potential asymmetries. Despite global advances, financial exclusion remains acute in sub-Saharan Africa, where weak infrastructure, institutional inefficiencies, and structural barriers constrain access to finance. The results revealed that improvements in financial inclusion significantly enhanced economic growth by expanding savings, credit access, and productive investments, while reductions in inclusion undermined growth by restricting capital mobilisation and weakening financial intermediation. These findings highlighted the dual role of financial inclusion as both a growth enabler and a potential constraint when exclusion persists. Policy recommendations include expanding digital financial infrastructure in rural and marginalised communities, strengthening regulatory frameworks to enhance consumer protection and trust, and broadening financial literacy programmes to ensure effective utilisation of financial services. By integrating nonlinear and quantile-specific estimations, this study contributes new evidence to the fragile yet transformative role of digital finance in the development trajectory of Ghana.

This study investigates the influence of industry-specific factors on the financial health of JSE-listed retail stores in the SADC region, focusing on inventory management, operational efficiency, market share, interest rates, firm size, and leverage. Stock turnover (ST) is employed as a proxy for financial health, reflecting the ability of firms to manage resources and generate sales efficiently. Using Feasible Generalized Least Squares (FGLS) to analyse a panel dataset spanning 1994 to 2022, the findings reveal that inventory management, market share, and leverage positively and significantly impact stock turnover. Conversely, interest rates exhibit a significant negative relationship, underscoring the sensitivity of retail firms to macroeconomic conditions. The study also demonstrates the relevance of trade-off theory in explaining the relationship between leverage and financial health, emphasising the need for retail firms to balance the benefits of debt financing against its associated risks. The results provide critical insights for managers in optimising inventory management practices and capital structures to enhance financial performance. Policymakers are advised to consider the implications of interest rate fluctuations on the retail sector's stability. Overall, the study contributes to the literature on financial health in the retail industry, offering theoretical and practical perspectives on managing industry-specific challenges.