This is a capital budgeting case study in macro-economic environment that is prone to exchange rate risk. The case demonstrates the applicability of the NPV model in improving capital investment decisions at the micro level, in a developing country like Ghana. In an attempt to deal with the exchange rate risk problem associated with capital budgeting in a hyperinflationary environment like Ghana, this utilizes the international finance concepts of “purchasing power parity” and “interest rate parity” framework to adjust for foreign-exchange risk. The study establishes the importance of adjusting for exchange-rate risk. This article tackles a very important subject—fostering wise use of scarce economic resources in impoverished societies using bespoke investment appraisal techniques.

While most research on accuracy and reliability of commercial property valuations has tended to focus on the processes used by valuers to arrive at opinion of value, this paper examined the way valuers behave, particularly in locations that they lack substantial prior experience and the importance of taking caution in their behaviour. Quasi-experimental and survey methods were used. One hundred and twenty two (122) estate surveying and valuation firms were sampled representing 50% of the total population in Lagos Metropolis, the study area. The study used both descriptive and inferential statistical analyses. The study revealed a wide variance of valuation outcomes from the mean which showed that the valuation outcomes are not reliable. This wide variance is as a result of heuristic behaviour of valuers. Therefore, advice given by valuers was found to be incorrect and unreliable, especially in locations that are unfamiliar to them. It is recommended that the Nigerian Institution of Estate Surveyors and Valuers should take up the responsibility of ensuring that variance in valuation is minimized especially in locations that are not familiar to valuers by way of providing databank in order to provide more meaningful valuation advice.

Land tenure is the institutional framework within which access to and use of land and environmental resources are achieved. Thus, property rights have a crucial role to play in the attainment of sustainable development. The relevance of sustainable development practices to sub-Saharan Africa cannot be overemphasized. However, due to the urgent need to overcome poverty in sub-Saharan Africa, balancing the environmental, economic and social goals of development is an extremely difficult task in the region. Using both qualitative and quantitative data from North-East Ghana, the linkages between property rights and sustainable development are examined. The evidence adduced shows that the main factors that undermine the prospects of achieving sustainable development are inappropriate agricultural practices, high levels of poverty, lack of environmental knowledge and demographic conditions. The way forward for the concept of sustainable development to be realized, is a systems approach that emphasizes sustainable agricultural practices and poverty reduction measures leading to sustainable livelihoods. The paper concludes that political will and commitment on the part of governments and civil society groups are crucial if sustainable development is to be achieved.