Doctor Sylvester Horvey

Courses and Disciplines taught at WBS: Finance, Risk Management, Insurance and Research Methods. 

Biography:

Dr Sylvester Senyo Horvey is a lecturer at Wits Business School, University of the Witwatersrand. He earned his PhD in Finance, with a particular focus on enterprise risk management in insurance companies, from the University of the Witwatersrand, South Africa. He also holds an MPhil in Risk Management and Insurance from the University of Ghana and a Bachelor of Education (Honours) in Business Management and Economics from the University of Cape Coast, Ghana. Dr Horvey initially served as a Postdoctoral Research Fellow at Wits Business School and as a Sessional Lecturer in the Insurance and Risk Management Division, School of Business Sciences. He is an experienced applied researcher and analyst, with a demonstrated ability to generate evidence-based insights that inform policy, strategy, and organisational decision-making. He has supervised numerous postgraduate theses to completion, served as an examiner, and participated in research defence panels across a range of business and development disciplines, for both master’s and PhD theses

His research often extends beyond the boundaries of narrowly defined fields, drawing on diverse perspectives to enrich his scholarship and amplify its broader impact. His research portfolio spans a wide range of themes, including finance, enterprise risk management, development economics, risk management and insurance, corporate finance, financial risk management, corporate governance, energy and climate change economics, insurance regulation, and technology and innovation. He has published in ABDC A-rated journals and other high-impact international outlets, including Applied Energy, Journal of Consumer Behaviour, Journal of Risk Research, Heliyon, Journal of Accounting in Emerging Economies, African Development Review, and Information Technology for Development, among others.

He has presented his research at leading international conferences, including the World Finance Conference, the American Risk and Insurance Association (ARIA) Conference, International Conference on Applied Theory, Macro and Empirical Finance, European Risk Conference, and the Global Finance Conference, and has also served as a keynote speaker at the African Forum on Urban Forests. He has received several academic awards. He has served as a facilitator in several seminars and workshops that advance training of emerging researchers and doctoral students. He is the Assistant Editor of Wits Business Review (WBR) and also serves as the Director: Advancement, Research and Communications, as well as a Principal Consultant at the African Review of Economics and Finance (AREF) Consult, where he provides expertise on academic and industry research projects across finance, risk management, and governance. Dr Horvey is highly competent in research methods and analytical techniques, with a strong ability to apply them effectively to complex problems.

Recent Publications and Scholarly Contributions: 

Horvey, S. S., & Odei-Mensah J. (2025). Towards economic growth in Sub-Saharan Africa: Is there a synergy between insurance market development and ICT diffusion? Information Technology for Development, 31(1), 178-205. https://doi.org/10.1080/02681102.2024.2361478

Horvey, S. S., & Odei‐Mensah, J. (2025). Achieving Inclusive Growth in Sub‐Saharan Africa: Exploring the Synergistic Role of Insurance and Institutional Quality. African Development Review, 37(2), e70017. https://doi.org/10.1111/1467-8268.70017

Horvey, S. S., & Odei-Mensah J. (2025) Enterprise Risk Management, Corporate Governance and Insurers Risk-Taking Behaviour in South Africa: Evidence from a Linear and Threshold Analysis, Journal of Accounting in Emerging Economies. 15(1), 53-83. https://doi.org/10.1108/JAEE-08-2023-0242.

Horvey, S. S., & Odei-Mensah, J. (2025). Re-examining the microeconomic and macroeconomic determinants of nonlife insurers profitability in South Africa: insights from linear and threshold analysis. Journal of Innovation and Entrepreneurship, 14(1), 30. https://doi.org/10.1186/s13731-024-00461-w. 

Horvey, S. S. & Odei-Mensah, J. (2025): Factors Influencing underwriting performance of the life and non-life insurance markets in South Africa: Exploring for complementarities, nonlinearities, and thresholds. Journal of African Business, 26(1), 164-192. https://doi.org/10.1080/15228916.2024.2348435.

Horvey, S. S., & Odei-Mensah, J. (2025). Innovative Pathways in Africa: Navigating the Relationship Between Innovation and Insurance Market Development Through Linear and Non-linear Lenses. Journal of the Knowledge Economy, 1-35. https://doi.org/10.1007/s13132-025-02681-1

Horvey, S. S. (2025). Insurers risk-taking behaviour in an emerging economy: unpacking the linear and nonlinear effects of enterprise risk management and corporate governance. Cogent Business and Management , 12(1), 2514169. https://doi.org/10.1080/23311975.2025.2514169 

Horvey, S. S., Godspower-Akpomiemie, E., & Asare Boateng, R. (2025). An Empirical Evaluation of the Technology Acceptance Model for Peer-to-Peer Insurance Adoption: Does Income Really Matter?. Journal of Risk and Financial Management, 18(4), 209. https://doi.org/10.3390/jrfm18040209

Horvey, S. S. (2025). The determinants of enterprise risk management in Ghanaian and South African insurers: insights from a quantile regression analysis. Future Business Journal, 11(1), 1-22. https://doi.org/10.1186/s43093-025-00524-8

Horvey, S. S. (2025). "Chapter 6 Sustainability in focus: Assessing the environmental, social, and governance practices on the Ghanaian Stock Exchange". Driving Change: Environment, Social, and Governance in Sub-Saharan Africa, edited by Tankiso Moloi and Denhere Varaidzo, De Gruyter, pp. 79-98. https://doi.org/10.1515/9783111677835-006 

Horvey, S. S., Odei-Mensah J., Moloi, T. & Bokpin G. A. (2024). Digital Economy, Financial Development and Energy Transition in Africa: Exploring for Synergies and Nonlinearities, Applied Energy, 376, 124297 https://doi.org/10.1016/j.apenergy.2024.124297 

Horvey, S. S., Odei-Mensah, J., & Liebenberg, A. P. (2024). Insurance market development and economic growth in Africa: Contingencies and thresholds of structural transformation. Heliyon,10(21) https://doi.org/10.1016/j.heliyon.2024.e40046

Horvey, S. S., Odei-Mensah, J. & Mushai, A. (2024). The Determinants of Life Insurance Profitability in South Africa: New Evidence from a Dynamic Panel Threshold Estimation Technique. International Journal of Emerging Markets, https://doi.org/10.1108/IJOEM-08-2022-1225

Horvey, S. S. (2024). Towards the cost of health in Africa: examining the synergistic effect of climate change and renewable energy on health expenditure. Air Quality, Atmosphere & Health, 1-23. https://link.springer.com/article/10.1007/s11869-024-01651-x

Horvey, S. S., & Odei-Mensah J. (2024). Enterprise Risk Management and Performance of the South African Insurers: The Moderating Role of Corporate Governance, Risk Management, 26(4), https://doi.org/10.1007/s11869-024-01651-x

Horvey, S. S., & Odei-Mensah, J. (2024). Navigating the Climate Challenges in Africa: Exploring the Synergy and Threshold Effects of Renewable Energy, Foreign Direct Investment on Climate Risk. World Development Sustainability, 4, 100143. https://doi.org/10.1016/j.wds.2024.100143

Horvey, S. S., Odei-Mensah, J., Mushai, A. & MacGregor, A. (2024) The Determinants of Firm-Level Enterprise Risk Management Adoption: Literature Review and Future Directions. African Review of Economics and Finance, 16(2), 47-69, https://www.african-review.com/online-first-details.php?id=83

Horvey, S. S., & Moloi, T. (2024). Digital Transformation in Enterprise Risk Management. In Digital Transformation in South Africa: Perspectives from an Emerging Economy (pp. 5-21). Cham: Springer Nature Switzerland. https://doi.org/10.1007/978-3-031-52403-5_2 

Ngcamu, L. J., Quaye, E. S., Horvey, S. S., & Jaravaza, D. C. (2023). Personality traits, money attitudes and consumer decision‐making styles as predictors of investment products choice in South Africa, Journal of Consumer Behaviour. 22(3), 618-631. https://doi.org/10.1002/cb.2146

Horvey, S. S., & Odei-Mensah, J. (2023). The measurements and performance of enterprise risk management: a comprehensive literature review. Journal of Risk Research, 26(7), 778-800. https://doi.org/10.1080/13669877.2023.2208138

Horvey, S. S., Osei, D.B. and Alagidede, I.A. (2023). Insurance penetration and inclusive growth in sub-Saharan Africa: Evidence from panel linear and nonlinear analysis. International Economic Journal. 37(4), 618-645. https://doi.org/10.1080/10168737.2023.2251027

Dube, A., & Horvey, S. S. (2023). Institutional quality and renewable energy capital flows in Africa. Future Business Journal, 9(1), 55. https://doi.org/10.1186/s43093-023-00234-z

Horvey, S. S. & Ankamah, J. (2020). Enterprise risk management and firm performance: Empirical evidence from Ghana equity market. Cogent Economics & Finance, 8(1), 1840102. https://doi.org/10.1080/23322039.2020.1840102

Other scholarly contributions:

Assistant Editor: Wits Business Review

Director of Advancement, Research and Communications: African Review of Economics and Finance (AREF) Consult