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25 April 2019 | Story Mamosa Makaya
Since 2016, the University of the Free State Center for Universal Access and Disability Support (CUADS) has received a grant from First National Bank worth R2 498 000, which supports tertiary bursaries for students with disabilities. Bursary holders are funded through CUADS, as the administrator of the bursaries.
  
These are students enrolled for various academic programmes who require academic assistance and/or assistive devices such as electronic handheld magnifiers, laptops, and hearing aids. The FNB grant also covers tuition, accommodation, study material and books, and meals.  The success of the grant is already evident, with one of the recipients having graduated with a Bachelor of Arts degree in December 2018. A second student was capped at the April 2019 graduations with a BSc Honours in Quantity Surveying.
 
Supporting the principles of the ITP

The UFS received the grant from FNB in instalments, starting in the 2016 academic year to date, supporting the needs of 40 disabled students. This grant and the work of CUADS speaks to and supports the principles of the Integrated Transformation Plan (ITP), namely inclusivity, transformation, and diversity. The vision of the Universal Access work stream is to enable the UFS to create an environment where students with disabilities can experience all aspects of student life equal to their non-disabled peers. The ITP provides for the recognition of the rights of people with disabilities as an important lesson in social justice and an opportunity to reinforce university values.

The successful administration of the grant to benefit past and present students is a ‘feather in the cap’ of CUADS, and is a shining example of the impact of public private investment and the endless possibilities that open up when there is a commitment to developing future leaders in academic spaces, allowing them to thrive by creating a learning environment that is welcoming and empowering. 



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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