Latest News Archive

Please select Category, Year, and then Month to display items
Previous Archive
22 October 2018 Photo Sonia Small
Prof Philippe Burgers book Getting It Right
Prof Philippe Burger’s book Getting It Right: A New Economy for South Africa highlights the urgent need to purge government policies of all forms of toxic patronage relationships and mismanagement in order to save our economy.

South Africa is in an economic rut. Economic growth has collapsed, the unemployment rate has increased, and the country’s level of inequality is of the highest in the world. As if that’s not enough, high levels of corruption, patronage, and state capture also mean that it suffers from severe institutional rot.

It is a sobering picture that is painted on the outside cover of Getting It Right: A New Economy for South Africa – the latest book by Prof Phillipe Burger, Acting Dean of the Faculty of Economic and Management Sciences.  In the book, he explains how the legacy of the Apartheid era labour system, the old system of Bantu Education, and the former Bantustans still cripple our economy. And why 24 years of democratic government reforms could still not deliver on the promises of work and prosperity.

Education to blame
 

One of the chargeable factors he singles out, is the state of our education system.
 
“Half of South Africa’s children start school, but never finish. Less than one percent of learners achieve a distinction in Maths in the final matric exam. And on an organisational level, many schools are crippled by labour unions calling the shots, which often means that underperforming teachers stay in their jobs. All these things eventually contribute to our unemployment rate of 27%,” he says.

Towards solutions

The solutions he advocates include securing recurrent economic investment by creating an investor-friendly environment, but also paying urgent attention to ridding our education system and communal land areas under traditional chiefs, where 32% of South Africa’s population are still living, of all forms of self-serving patronage relationships.
 
Prof Burger wrote the bulk of the book during his nine-month tenure as a Fulbright Exchange Scholar in the Center for Sustainable Development at Columbia University’s Earth Institute (New York). The time he spent there with renowned American economist, Professor Jeffrey Sachs – who also wrote the foreword of his book – was invaluable to his research.
  
Returning from an overseas trip recently, Prof Burger was delighted to see Getting It Right on the bestsellers shelf of Exclusive Books at the OR Tambo Airport. 
“It was a great welcome-home gift!”

He hopes the book will be read by the generally informed public in the run-up to next year’s elections, and that it will help to influence how people think about policy issues.

News Archive

Students get practical training in banking
2009-05-13

 
At the official announcement of the ABSA Internship Programme were, from the left: Ms Venete Klein, Executive Director: ABSA Retail Banking, Prof. Helena van Zyl, Director of the School of Management at the UFS, and Ms Christa de Bruin, Programme Leader: Internships at ABSA; back: Tebogo Mekgwe and Chantelle de Coning. Both are Honours students in Financial Economics and Investment Management at the UFS.
Photo: Stephen Collett

The Faculty of Economic and Management Sciences at the University of the Free State (UFS) has launched a unique programme that will give provide postgraduate B.Com. students with the opportunity to work at the ABSA Regional Office in Bloemfontein for three weeks and obtain practical experience on what banking entails.

“It is the first time in the history of our faculty that we are getting involved with a programme of this nature where theory and practice will meet,” said Prof. Helena van Zyl, Director of the School of Management at the UFS at the official announcement of the ABSA Internship Programme this week.

The ABSA Internship Programme was born out of the faculty’s long-standing relationship with ABSA. The programme, the brain child of Mr Deon Loots, former Regional Manager of ABSA in the Free State, offers the ten hand-picked students the opportunity to equip and empower themselves better for their future. They will be working at the ABSA Regional Office from 22 June to 10 July 2009 and will be exposed to as many focus areas of the bank as possible in order to give them a good overview of what banking entails.

“A degree, even an honours degree, is not enough. When graduates knock on an employer’s door he/she already assumes that the student will have a certain set of knowledge. We must once again look at ways to enhance our students’ practical and softer skills in order for them to compete in the labour market,” said Prof. Van Zyl.

“With this programme we want to equip and empower our students and develop their talents. In the end the student must be able to answer the question, “What makes me better than the 27 000 other students on our campus and on campuses elsewhere?” Prof. Van Zyl said.

Ms Venete Klein, Executive Director: ABSA Retail Banking and Visiting Professor at the University’s School of Management stated that it was always good to meet and engage with young talent, the leaders of tomorrow. “The students are entering the world of work at a crucial and difficult stage; a time when financial services worldwide are transformed. They have proven themselves academically. Now they have the opportunity to complement theory with work experience. With this programme they can develop into competent and compassionate professionals. I am proud that ABSA is part of this programme,” she said.

Media Release:
Lacea Loader
Assistant Director: Media Liaison
Tel: 051 401 2584
Cell: 083 645 2454
E-mail: loaderl.stg@ufs.ac.za 
13 May 2009
 

We use cookies to make interactions with our websites and services easy and meaningful. To better understand how they are used, read more about the UFS cookie policy. By continuing to use this site you are giving us your consent to do this.

Accept