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The study investigates the link between structural transformation and sustainable development in sub-Saharan Africa.

The study adopts the traditional ordinary least square method and the Driscoll and Kraay covariance matrix estimator to address every form of cross-sectional and temporal dependence in panel data.

The study finds the structural transformation of the SSA economy will engender sustainable development. Specifically, the study finds that knowledge exerts a positive and statistically significant impact on sustainable development in SSA. Similarly, we found that technology (mobile cellular subscription and fixed telephone line subscription) promotes sustainable development. The results also show that all the economic transformation promotes sustainable development in SSA. Further, we also found that economic development and physical capital are important drivers of sustainable development in SSA. However, trade openness does not contribute to sustainable development in SSA. This might be because the combined scale effect in trade outweighs the combined technology and composition effects in SSA. This suggests the technology component in total trade activities in SSA does not promote sustainable development. The study recommends that governments across SSA should invest more in ICT and mobile cellular infrastructure or create an enabling environment that encourages digitization and the development of financial technology in the manufacturing, mining, construction, agriculture and services sectors to enhance green and quality growth for sustainable development in SSA.

The study uncovers the role of structural transformation in promoting sustainable development in SSA.

A functional financial sector is a major driver of economic development. The purpose of this paper is to provide a comprehensive understanding of existing research findings, gaps in knowledge and emerging trends in the field of banking and finance.

By conducting a systematic literature review, a total of 98 peer-reviewed articles whose focus and relevance match with the subject matter were reviewed and synthesised to answer the research questions. Multiple regression was also carried to investigate the relationship amongst the identified probable factors affecting financial inclusions.

The outcome of this study highlighted some factors mitigating the growth of the banking sector in the Sub-Saharan Africa (SSA). These include excessive or stringent regulations, market segmentation, high interest rates, information asymmetry, low credit status and uneven distribution of credit amongst others.

Some of the policy recommendations that could aid the development of the banking sector in SSA include: development and deepening of interbank markets, financial inclusion, improvement of overall market efficiency through redistribution of liquidity within the banking system, improvement of price and encouragement of competition. This study recommends financial inclusion by formulating policies that balances the capital adequacy requirements with the risk of insolvency to ensure credit flows and promotes financial stability via effective operations financial institutions.

This study contributes valuable insights to the understanding of banking and financial regulations in SSA, informing both academic research and policy development in the region.

The purpose of this study is to assess the impact of cyberfraud in the South African banks with the aim to provide recommendations to effectively mitigate it.

The study uses a qualitative approach involving the use of structured questionnaires. The questionnaires were made available to the staff of 17 licensed banks in South Africa who deal with management, operation, administration and banking services. Two hypotheses were formulated and non-parametric statistical analyses involving the use of Chi-square test, Fischer’s Exact test and Spearman’s correlation were carried out. The two hypotheses formulated were tested to draw a conclusion.

The results obtained indicate that the impact of cyberfraud in the South African banking industry is highly significant and has affected the reputation of some of the banks. This calls for the need to review the diverse ways of curbing cyberfraud to lessen their impact and that of associated fraud risks on the banking operation.

This study provides an analysis on the relationship cyberfraud occurrences and the reputation of South African banks. The implementation of the recommendations may reinforce the existing security measures in the fight against cyberfraud.

The novelty of this study lies in the fact that the assessment of the impact of cyberfraud on the banking industry in South Africa has not been sufficiently highlighted by the existing literature.

This study aims to investigate the feasibility of employing a multi-objectives integer-programming model for effective allocation of resources for cyberfraud mitigation. The formulated objectives are the minimisation of the total allocation cost of the anti-fraud capacities and the maximisation of the forensic accounting capacities in all cyberfraud incident prone spots.

From the literature survey conducted and primary qualitative data gathered from the 17 licenced banks in South Africa on fraud investigators, the suggested fraud investigators are the organisation’s finance department, the internal audit committee, the external risk manager, accountants and forensic accountants. These five human resource capacities were considered for the formulation of the multi-objectives integer programming (MOIP) model. The MOIP model is employed for the optimisation of the employed capacities for cyberfraud mitigation to ensure the effective allocation and utilisation of human resources. Thus, the MOIP model is validated by a genetic algorithm (GA) solver to obtain the Pareto-optimum solution without the violation of the identified constraints.

The formulated objective functions are optimised simultaneously. The Pareto front for the two objectives of the MOIP model comprises the set of optimal solutions, which are not dominated by any other feasible solution. These are the feasible choices, which indicate the suitability of the MOIP to achieve the set objectives.

The results obtained indicate the feasibility of simultaneously achieving the minimisation of the total allocation cost of the anti-fraud capacities, or the maximisation of the forensic accounting capacities in all cyberfraud incident prone spots – or the trade-off between them, if they cannot be reached simultaneously. This study recommends the use of an iterative MOIP framework for decision-makers which may aid decision-making with respect to the allocation and utilisation of human resources.

The originality of this work lies in the development of multi-objectives integer-programming model for effective allocation of resources for cyberfraud mitigation.