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Many African women undertake income-generating activities in order to sustain their families and have some private income. Some women prefer to run their economic activities as individuals, others have formed groups. However, many income-generating projects, especially with rural women, give only little income. Meanwhile, the need for cash income becomes more important day by day. Even in areas where schools and health services are available, people are not making use of these facilities because they lack the money to pay for the school fees or the medicines!
The FAO has realised that illiteracy and lack of basic business management skills are part of the reason why many economic activities fail. To respond to this problem the FAO has produced a training package on 'Figures for Bookkeeping'. 'Figures for Bookkeeping' is a basic training document to teach arabic figures, calculations and manipulations with money. Experience has shown that the course participants immediately start using the knowledge gained from the numeracy course to keep records of their businesses.
Extensive prior research suggests that the announcement of a loan agreement produces positive abnormal returns for the borrowing firm. The specialization, monitoring, screening, and certification functions associated with lending relationships may contribute to these positive abnormal returns. The informational benefits that are associated with relationship banking, and that underlay the positive abnormal returns, presumably exceed any “holdup” costs potentially associated with relationship banking (Boot (2000). These positive abnormal returns may also stem from the contractual flexibility of bank lending that supplements the monitoring function performed by the lender (Preece and Mullineaux, 1996).
In recent years, however, there has been increasing evidence and discussion of the changing nature of bank intermediation and the value of bank relationships. Boot (2000) points out that the proliferation of direct funding available to firms in the financial markets has started to “seriously challenge banks’ future as relationship bankers.” When investment banks underwrite public issues, they encounter credit risk and the risk involved in placing the securities, moving their role much closer to that of a traditional bank involved in lending and placing syndicated loans. A recent article in the financial press described how banks are acting less like lenders and more like middle-men between borrowers and investors, i.e., the banks are acting more like bond markets. These trends suggest that the traditional market reaction to news of a bank loan may also have changed. Virtually all of the research in the extensive literature on loan announcements uses samples that include the 1970s, 1980s, and in a few cases the early 1990s. By combining the earlier sample periods with more recent data, our paper seeks to determine how the well-established loan announcement reaction has survived the changes in traditional bank lending relationships.
Acceptance of the Porter (1980) five-forces analytic framework is prevalent in the world of for-profit organizations. The framework?s value is rooted in the forces of industry competition bathed in the traditional dynamics of economics. It is the structural frame of competitive forces that collectively determines the profitability and hence the attractiveness of an industry. In terms of this framework the key to strategy is defending against the five forces. Porter says, "An effective competitive strategy takes offensive or defensive action in order to create a defendable position against the five competitive forces."
With reservation on the applicability of private sector concepts to nonprofit organizations, Goold (1997) has evaluated its relevance and potential usefulness of the framework in the nonprofit arena. He concludes that the “meaning and relevance of the concept is therefore dubious. . . the industry attractiveness concept seems not to transfer well into the not-for-profit environment.” In possible support to Goold?s view is that of Stone, Bigelow and Crittenden (1999) who argue that nonprofit goals and outcomes have a “noneconomic and nonmarket quality.” From their review of the empirical research in nonprofit strategy between 1979 and 1999 they conclude that “some assumptions underlying formal planning do not match characteristics of many nonprofits and their environments.” In apparent implicit opposition to Goold?s view is that of Miller (2002). Miller blends sociology of religion witheconomic theories of competition when studying church organizations. He views rivalry among religious organizations as sometimes intense. Using the resource-based view of the organization, religious organizations are seen as competing for scarce resources. One of the weaknesses of the research in sociology and economics of religion has been that this research does not “acknowledge the industry analytical frameworks and theories of competitive interaction from strategic management and industrial organization economics.”
