Guide for Authors

All journal information and instructions compiled in one document (PDF) in just one mouse-click Author information pack

• Ethics in publishing
• Declaration of interest
• Submission declaration and verification
• Changes to authorship
• Copyright
• Role of the funding source
• Open access
• Submission
• Double-blind review
• Proofs

Ethics in publishing

Please see our information pages on Ethics in publishing and Ethical guidelines for journal publication.

Declaration of interest

All authors are requested to disclose any actual or potential conflict of interest including any financial, personal or other relationships with other people or organizations within three years of beginning the submitted work that could inappropriately influence, or be perceived to influence, their work. More information.

Submission declaration and verification

Submission of an article implies that the work described has not been published previously (except in the form of an abstract or as part of a published lecture or academic thesis or as an electronic preprint, see 'Multiple, redundant or concurrent publication' section of our ethics policy for more information), that it is not under consideration for publication elsewhere, that its publication is approved by all authors and tacitly or explicitly by the responsible authorities where the work was carried out, and that, if accepted, it will not be published elsewhere in the same form, in English or in any other language, including electronically without the written consent of the copyright-holder. To verify originality, your article may be checked by the originality detection service CrossCheck.

Changes to authorship

Authors are expected to consider carefully the list and order of authors before submitting their manuscript and provide the definitive list of authors at the time of the original submission. Any addition, deletion or rearrangement of author names in the authorship list should be made only before the manuscript has been accepted and only if approved by the journal Editor. To request such a change, the Editor must receive the following from the corresponding author: (a) the reason for the change in author list and (b) written confirmation (e-mail, letter) from all authors that they agree with the addition, removal or rearrangement. In the case of addition or removal of authors, this includes confirmation from the author being added or removed.
Only in exceptional circumstances will the Editor consider the addition, deletion or rearrangement of authors after the manuscript has been accepted. While the Editor considers the request, publication of the manuscript will be suspended. If the manuscript has already been published in an online issue, any requests approved by the Editor will result in a corrigendum.


Upon acceptance of an article, authors will be asked to complete an 'Exclusive License Agreement' (see more information on this). Permitted third party reuse of open access articles is determined by the author's choice of user license.

Author rights
As an author you (or your employer or institution) have certain rights to reuse your work. More information.

It is a condition of publication in the journal that authors assign copyright to the Africagrowth Institute. This ensures that requests from third parties to reproduce articles are handled efficiently and consistently and will also allow the article to be as widely disseminated as possible. In assigning copyright, authors may use their own material in other publications provided that the journal is acknowledged as the original place of publication.

Elsevier supports responsible sharing
Find out how you can share your research published in Elsevier journals.

Role of the funding source

You are requested to identify who provided financial support for the conduct of the research and/or preparation of the article and to briefly describe the role of the sponsor(s), if any, in study design; in the collection, analysis and interpretation of data; in the writing of the report; and in the decision to submit the article for publication. If the funding source(s) had no such involvement then this should be stated.

Funding body agreements and policies
Elsevier has established a number of agreements with funding bodies which allow authors to comply with their funder's open access policies. Some funding bodies will reimburse the author for the Open Access Publication Fee. Details of existing agreements are available online.

Open access

Every peer-reviewed research article appearing in this journal will be published open access. This means that the article is universally and freely accessible via the internet in perpetuity, in an easily readable format immediately after publication. The author does not have any publication charges for open access. The Africagrowth Institute will pay to make the article open access.
A CC user license manages the reuse of the article (see All articles will be published under the following license:

Creative Commons Attribution-NonCommercial-NoDerivs (CC BY-NC-ND)
For non-commercial purposes, lets others distribute and copy the article, and to include in a collective work (such as an anthology), as long as they credit the author(s) and provided they do not alter or modify the article.

Elsevier Publishing Campus
The Elsevier Publishing Campus ( is an online platform offering free lectures, interactive training and professional advice to support you in publishing your research. The College of Skills training offers modules on how to prepare, write and structure your article and explains how editors will look at your paper when it is submitted for publication. Use these resources, and more, to ensure that your submission will be the best that you can make it.

Language (usage and editing services)
Please write your text in good English (American or British usage is accepted, but not a mixture of these). Authors who feel their English language manuscript may require editing to eliminate possible grammatical or spelling errors and to conform to correct scientific English may wish to use the English Language Editing service available from Elsevier's WebShop.


Our online submission system guides you stepwise through the process of entering your article details and uploading your files. The system converts your article files to a single PDF file used in the peer-review process. Editable files (e.g., Word, LaTeX) are required to typeset your article for final publication. All correspondence, including notification of the Editor's decision and requests for revision, is sent by e-mail.

Please submit the names and institutional e-mail addresses of several potential referees. For more details, visit our Support site. Note that the editor retains the sole right to decide whether or not the suggested reviewers are used.

(1) Manuscript should be typewritten using 1.5 spacing throughout, including tables, references, and footnotes. Assemble sections in the following order
Title page (Separate Page)
Abstract (Separate Page)
Text (Including Tables & Figures)
(2) Manuscript (Microsoft Word) should be submitted to EES First time authors should register themselves as Author.
(3) The Title page should include the name(s) of the author(s), and institutional affiliation for each author. It should also include name, address, telephone number and email of the author responsible for correspondence, as well as the name, address of the author to who requests for reprints should be sent.
(4) Each article should include an Abstract of not more than 100 words, beginning on a separate page. The text should also begin on a separate page. The first numbered section should follow the Abstract of the article.
Footnotes should be kept to a minimum and placed at the bottom of the page on which they are cited. Do not number author affiliations or acknowledgements of support or assistance.
(5) Tables and Figures should be placed on the page on which it is first referred to or as close as possible to such page and should be numbered sequentially with Arabic numerals. Each should be designed to fit on a page without undue compression. Authors may use a "landscape" page setup for tables.
It should be as self-explanatory as possible, incorporating any necessary descriptive material in an unnumbered footnote.
Tables - The table number and heading are displayed above the table, in bold typed and left aligned.
Figures - All explanatory material should be included in the legend and not in the figure itself. The figure number and heading are displayed below the figure, in bold typed and left aligned.
(6) Headings are numbered and formatted as follows:
1. MAIN HEADING (bold)
1.1 Sub Heading (bold)
1.1.1 Minor Heading (italics)
(7) References: the Harvard method must be used, namely short references in the text and more detailed references arranged in alphabetical order at the end of the manuscript (follow the guidelines below).
References in the text: Omit the page numbers if the entire publication is referred to (Cane, 1980); or … according to Cane (1987b). If a quotation is cited, (Abraham, 1985: 2).
The list of references should be in unnumbered alphabetical format and should begin on a new page.
Hakansson, N. (1979): "A Characterization of Optimal Multi-period Portfolio Policies", in Portfolio Theory, 25 Years After: Essays in Honor of Harry Markowitz, eds. E. Elton and M. Gruber Amsterdam: North-Holland, pp. 169-177
Gibbons, M. R., Ross, S. A. and Shanken, J. (1989): "A Test of the Efficiency of a Given Portfolio" Econometrica, 57(4), pp.1121-1152.
Merton, R. C. (1990): Continuous-Time Finance. Cambridge: Basil Blackwell.
Norton, C. (2000): "African Capital Market: The way forward", Working Paper, the University of Cape Town, South Africa.

Double-blind review

This journal uses double-blind review, which means that both the reviewer and author name(s) are not allowed to be revealed to one another for a manuscript under review. The identities of the authors are concealed from the reviewers, and vice versa. More information is available on our website. To facilitate this, please include the following separately:
Title page (with author details): This should include the title, authors' names and affiliations, and a complete address for the corresponding author including an e-mail address.
Blinded manuscript (no author details): The main body of the paper (including the references, figures, tables and any Acknowledgements) should not include any identifying information, such as the authors' names or affiliations.

Formatting of funding sources
List funding sources in this standard way to facilitate compliance to funder's requirements:

Funding: This work was supported by the National Institutes of Health [grant numbers xxxx, yyyy]; the Bill & Melinda Gates Foundation, Seattle, WA [grant number zzzz]; and the United States Institutes of Peace [grant number aaaa].

It is not necessary to include detailed descriptions on the program or type of grants and awards. When funding is from a block grant or other resources available to a university, college, or other research institution, submit the name of the institute or organization that provided the funding.

If no funding has been provided for the research, please include the following sentence:

This research did not receive any specific grant from funding agencies in the public, commercial, or not-for-profit sectors.

Reference management software
Most Elsevier journals have their reference template available in many of the most popular reference management software products. These include all products that support Citation Style Language styles, such as Mendeley and Zotero, as well as EndNote. Using the word processor plug-ins from these products, authors only need to select the appropriate journal template when preparing their article, after which citations and bibliographies will be automatically formatted in the journal's style. If no template is yet available for this journal, please follow the format of the sample references and citations as shown in this Guide.

Users of Mendeley Desktop can easily install the reference style for this journal by clicking the following link:
When preparing your manuscript, you will then be able to select this style using the Mendeley plug-ins for Microsoft Word or LibreOffice.


One set of page proofs (as PDF files) will be sent by e-mail to the corresponding author (if we do not have an e-mail address then paper proofs will be sent by post) or, a link will be provided in the e-mail so that authors can download the files themselves. Elsevier now provides authors with PDF proofs which can be annotated; for this you will need to download the free Adobe Reader, version 9 (or higher). Instructions on how to annotate PDF files will accompany the proofs (also given online). The exact system requirements are given at the Adobe site.
If you do not wish to use the PDF annotations function, you may list the corrections (including replies to the Query Form) and return them to Elsevier in an e-mail. Please list your corrections quoting line number. If, for any reason, this is not possible, then mark the corrections and any other comments (including replies to the Query Form) on a printout of your proof and scan the pages and return via e-mail. Please use this proof only for checking the typesetting, editing, completeness and correctness of the text, tables and figures. Significant changes to the article as accepted for publication will only be considered at this stage with permission from the Editor. We will do everything possible to get your article published quickly and accurately. It is important to ensure that all corrections are sent back to us in one communication: please check carefully before replying, as inclusion of any subsequent corrections cannot be guaranteed. Proofreading is solely your responsibility.

Visit the Elsevier Support Center to find the answers you need. Here you will find everything from Frequently Asked Questions to ways to get in touch.
You can also check the status of your submitted article or find out when your accepted article will be published.