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23 May 2018 Photo Thabo Kessah
Choose excellence and moral uprightness graduates told
Dr Mantwa Lephoto graduated with a PhD in Physics. With her is Dr Kamohelo Tshabalala, her supervisor

It was joy all over at the Qwaqwa Campus of the University of the Free State (UFS) on Thursday 10 May 2018 when over 650 degrees, diplomas, and certificates were conferred on deserving academic achievers. Among the degrees conferred were seven PhDs and seven master’s degrees in the Faculty of Natural and Agricultural Sciences, and one doctorate in English in the Faculty of the Humanities.

Speaking to the proud graduates was the Honourable Acting Judge of the Supreme Court of Appeal, Mr Justice Tati Makgoka, and the Chancellor of the UFS, Dr Khotso Mokhele, who both congratulated the graduates on their success.

Immeasurable joy and pride
“In African culture, a child is a vessel of the community. And today you have not only brought immeasurable joy to your families, but also pride to your communities. You have also opened a window of opportunities and inspiration to the school learners in attendance here today,” said Justice Makgoka, referring to hundreds of invited school learners from as far as Rekgotsofetse Secondary School in Paul Roux.

“You have now assumed the roles of pathfinders among your people. You should therefore continue to share your talents, as well as moral and spiritual gifts, with your communities. Your qualifications today set you on a journey of lifelong learning and scholarship. It is so because your chosen fields of study are dynamic terrains constantly evolving and demanding a lifelong scholarship. We must also pay special tribute to those who contributed towards your success,” he said.

Support system is important

Dr Mokhele also encouraged graduates to thank their support systems that kept them going through the hard times of studying.

 “There are many other people who deserve to be thanked for your success and you must thank them accordingly,” he said, and asked graduates to stand up as a gesture of appreciation for their families and friends who filled up the Rolihlahla Mandela Hall.
He further edged all graduates to ‘choose excellence and moral uprightness’.

“Honest and excellent hard workers in our government are more likely to be constructively dismissed, as they prevent the stealing of state resources. It’s your responsibility to choose the kind of South Africa you want to live in and make it happen,” he said.
 
This year’s graduations also saw the first cohort of Bachelor of Administration students from the Faculty of Economic and Management Sciences graduating.

UFS Qwaqwa Campus May Graduation highlights from University of the Free State on Vimeo.

News Archive

Producers to save thousands with routine marketing strategies, says UFS researcher
2014-09-01

 

Photo: en.wikipedia.org

Using derivative markets as a marketing strategy can be complicated for farmers. The producers tend to use high risk strategies which include the selling of the crop on the cash market after harvest; whilst the high market risks require innovative strategies including the use of futures and options as traded on the South African Futures Exchange (SAFEX).

Using these innovative strategies are mostly due to a lack of interest and knowledge of the market. The purpose of the research conducted by Dr Dirk Strydom and Manfred Venter from the Department of Agricultural Economics at the University of the Free State (UFS) is to examine whether the adoption of a basic routine strategy is better than adopting no strategy at all.

The research illustrates that by using a Stochastic Efficiency with Respect to a Function (SERF) and Cumulative Distribution Function (CDF) that the use of five basic routine marketing strategies can be more rewarding. These basic strategies are:
• Put (plant time)
• Twelve-segment pricing
• Three-segment pricing
• Put (pollination)(Critical Moment in production/marketing process), and
• Pricing during pollination phase.

These strategies can be adopted by farmers without an in-depth understanding of the market and market-signals. Farmers can save as much as R1.6 million per year on a 2000ha farm with an average yield.

The results obtained from the research illustrate that each strategy is different for each crop. Very important is that the hedging strategies are better than no hedging strategy at all.

This research can also be applicable to the procurement side of the supply chain.

Maize milling firms use complex procurement strategies to procure their raw materials, or sometimes no strategy at all. In this research, basic routine price hedging strategies were analysed as part of the procurement of white maize over a ten-year period ranging from 2002–2012. Part of the pricing strategies used to procure white maize over the period of ten years were a call and min/max strategy. These strategies were compared to the baseline spot market. The data was obtained from the Johannesburg Stock Exchange’s Agricultural Products Division better known as SAFEX.

The results obtained from the research prove that by using basic routine price-hedging strategies to procure white maize, it is more beneficial to do so than by procuring from the spot market (a difference of more than R100 mil).

Thus, it can be concluded that it is not always necessary to use a complex method of sourcing white maize through SAFEX, to be efficient. By implementing a basic routine price hedging strategy year on year it can be better than procuring from the spot market.

Understanding the Maize Maze by Dr Dirk Strydom and Manfred Venter (pdf) - The Dairy Mail


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