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01 April 2020 | Story Valentino Ndaba | Photo Valentino Ndaba
Commonwealth read more
Takudzwa Nyamunda represented the UFS at the latest Commonwealth Futures Workshop where youth from across the globe convened to develop solutions for social issues.


Gender-based violence, global warming, and inequality are just some of the challenges faced by societies internationally. Examining this and other topics Takudzwa Nyamunda represented the University of the Free State (UFS) at the Commonwealth Futures workshop which convened at the Durban University of Technology (DUT). Participants from 13 nations gathered from 11-14 March 2020 to discuss the future of the world.
 
Over the course of four days, student leaders explored ways of bringing peace and nonviolence to the challenging issues we are facing in the world, under the theme: Reimagining Peace. The workshop was organised by the DUT in collaboration with the Association of Commonwealth Universities (ACU) and the British Council. 

The voice of young people 
International forums such as the Commonwealth Futures workshop are to Nyamunda a prerequisite in these modern times. Nyamunda believes that global problems warrant global solutions. According to the Industrial Psychology Master’s student, young leaders have a crucial role to play in nation-building. 

“My experience proved to me that the differences that come out of our diversity are indeed a source of strength demonstrated by the rich insights that came out of the conference,” said Nyamunda who is also an employee of the UFS Department of Human Resources. 

Producing practical solutions
The three-tiered workshop aimed to bring change to campuses across the world, in communities and beyond. This was the third workshop in the series which has taken place in India and the UK. The outcomes will directly feed into the 2020 Commonwealth Youth Forum to be held in Kigali, Rwanda later this year.

The group of students worked together to develop tangible solutions that address shared global issues such as gender-based violence, climate change and inequality. Joining the young leaders were expert speakers and organisations including the International Centre of Nonviolence, the Gandhi Development Trust, as well as the Commonwealth Countering Violent Extremism (CVE) Unit.

Global solutions for global problems
The Commonwealth states that with more than 60% of the Commonwealth’s 2.4 billion people younger than 30, the voices of young people have never been more important. Students across the globe are setting new agendas for social debates, challenging communities and governments to listen and work with young people to develop solutions to these intersecting issues and bring about real change.

In joining forces with other young thought leaders from around the world, Nyamunda drew on his experience as an International Students Association Founder and first President, the former 2017 Student Representative Council (SRC) member for International Students, and the Vice-Chairperson of the South African Board for People Practices: UFS Chapter. 

As one of the 40 delegates from across the globe, Nyamunda was given a sense of hope after he witnessed how keen young people are to build a better future. 

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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