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20 December 2019 Photo Shaari Rai Poken
Kweku
From Bloemfontein to Bremen: Kweku Gavor represented South Africa well in Germany.

It all started with the Umoja Buddy Programme (UBP). Kweku Gavor was a UBP ambassador when he met exchange students from Germany. Two years later, the roles were reversed. “Helping out students who later have become my really good friends opened up the opportunity for me to study abroad in Germany.” he said.

Kweku spent about four months as part of a pilot Summer Lab Programme at Universität Bremen after being nominated for a scholarship by the German Academic Exchange Service, which his former Umoja buddies helped create. He shared the experience with eight other students from Palestine, Poland, Ukraine, and the US. The focus was on Business Studies, Marketing and Economics.

According to the BCom graduate, studying internationally gave him new insights. “The experience opened my mind and better-equipped me to work in situations in which I need to handle a lot of pressure against the clock.”

The first leg of the programme featured corresponding modules presented in a classroom environment, which were integrated with assignments, presentations, tests and exams. This was supplemented by a language course that involved cultural leadership training. Another crucial part of the Summer Lab Programme was an internship where students were placed with companies and tasked with a problem-solving project. Kweku was placed at Fabular Ai, an artificial intelligence company which designs computer software.

“Going to study abroad is an extremely rare and fantastic opportunity I advise all who can to grab it with both hands,” said Kweku, who also used the opportunity to travel all over Europe.

Internationalisation at home with Umoja

The UBP, which is collaboratively run by the UFS Office for International Affairs and Student Affairs, played a big part in Kweku being given the opportunity to study abroad. However, unlike him, not all students have to the opportunity to engage in undergraduate exchanges.

The UBP is part of the university’s efforts to advance internationalisation at home, as anchored in the UFS Strategic Plan: 2018-2022. With the programme, students are able to receive an international experience on home ground.

The programme aims to connect international and local students through meaningful lifelong friendships and foster their academic, social and cultural integration. It pairs first-entry international students with senior Kovsies who provide a warm, welcoming, friendly face, and a helping hand.

Expression of interest sought

A total of 48 ambassadors were enrolled in 2019. To join the UBP in 2020, contact Sonya Kapfumvuti at KapfumvutiSCR@ufs.ac.za or call her on 051 401 3397.

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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