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19 September 2019 | Story Amanda Thongha | Photo Charl Devenish
Dr Gwande
Dr Victor Gwande

Attaining his master’s degree cum laude, completing a PhD degree, and publishing in top academic journals, University of the Free State (UFS) academic, Dr Victor Gwande, has been an outstanding researcher throughout his career.

Adding to his list of notable achievements, the postdoctoral research fellow in the International Studies Group has just been awarded a fellowship at Princeton University, one of the top universities in the world. The US institution was recently ranked sixth in the Times Higher Education World University Rankings 2020.

As a fellow of the Institute for Advanced Study at Princeton, Dr Gwande will spend two weeks on the Ivy League university’s New Jersey campus in 2020. This will be followed by a weeklong session at one of two collaborating institutions in South Africa and the US, with continuous communication facilitated among selected scholars throughout a two-year period. 

Flying high the flag of the African academy
Dr Gwande believes the fellowship will expose him to new intellectual traditions and perspectives. “It will help me create international academic networks across continents, as I seek to put my name out there as an internationally recognised scholar.”

With his research interests in economic and business history of Southern Africa, Dr Gwande says he wishes to become “a great scholar of African economic history, flying high the flag of the African academy, as well as training and producing young scholars for the academy”.

Working with some of the world’s top minds at Princeton University, there will be much to focus on.

“I will be researching, writing, and presenting my research project in which I use the case study of the Anglo American Corporation to look at the histories of capitalism and to understand how monopoly capitalism shaped economic trajectories of Zimbabwe and the broader Southern African region.”

Longer-term plans include completing his monograph stemming from his PhD thesis.

There are many people to thank for his journey from the UFS to Princeton, and the scholar draws attention to some of those who have influenced him. 

“God and my family. But in my career, quite a number of people and institutions have really moulded me; the International Studies Group under Prof Ian Phimister has given me an environment to flourish in my young career.

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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