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14 December 2020
Prof Abdon Atangana
Prof Abdon Atangana is known for his work in developing a new fractional operator used to model real-world problems arising in the fields of science, technology, and engineering. He was recently awarded the TWAS Mohammad A. Hamdan Award by The World Academy of Sciences.

Prof Abdon Atangana, Professor of Applied Mathematics in the Institute for Groundwater Studies at the University of the Free State (UFS), was awarded the TWAS Mohammad A. Hamdan Award by The World Academy of Sciences for the advancement of science in developing countries.

It is the first time that the TWAS Mohammad A. Hamdan Award was bestowed. According to a statement issued by TWAS, this award is given for outstanding mathematical work carried out by a scientist working and living in Africa or the Arab region. It states that the award can be given for work in pure mathematics, applied mathematics, probability, or statistics. Prof Atangana received the award for his contribution to fractal mathematics and partial differential equations.

Making a difference in society

He is known for his research in developing a new fractional operator, the Atangana-Baleanu operator, which is used to model real-world problems. With this operator, he not only describes the rate at which something will change, but also account for disrupting factors that will help to produce better projections.

His work can be applied to make complicated predictions in the fields of science, technology, and engineering. His models can, for instance, help to predict the spread of infectious diseases among people in a settlement, forecasting the number of people who will be infected each day, the number of people who will recover, and the number of people who will die.

Prof Atangana’s models can also help to advise people drilling for water by predicting how groundwater is flowing in a complex geological formation. These are only two examples of how his work can be applied to make a difference in society.

The award from TWAS is the third prestigious commendation he has received in the past month. He was recently named as one of the top 1% scientists on the global Clarivate Web of Science list. His name also appeared on a global list of leading scientists published by Stanford University in the United States. The list is the result of a study published in PLOS Biology, a peer-reviewed open-access journal.

World’s most accomplished scientists

Honours awarded by TWAS and its partners are among the most prestigious for research in the developing world. They recognise outstanding achievements and contributions to science and acknowledge the best work by scientists from the global South.

TWAS, founded in 1983 by a group of scientists under the leadership of Pakistani physicist and Nobel laureate, Abdus Salam, believes that developing nations – by growing strength in science and engineering – will be able to address challenges such as hunger, disease, and poverty, through their knowledge and skills.

TWAS is represented in 100 countries, and of the more than a thousand elected fellows, 14 are Nobel laureates. Eighty-four percent of these fellows are from developing nations. TWAS fellows are also some of the world’s most accomplished scientists.

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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