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18 July 2020 | Story Amanda Thongha
Staff, students and other stakeholders of the University of the Free State (UFS) can look forward to a virtual music show honouring the values and beliefs of former President Nelson Mandela. Musicians such as Simple Stories, Sibongile Mngoma, Boitumelo Mohutsioa, and Lucy Sehloho have prepared performances that will be showcased on UFS communication platforms on 31 July. Concluding Mandela Month celebrations, the pre-recorded show will also feature performances by poets Braithan Moratwa and Zilungile Muqayi. The show is coordinated by the Division of Student Affairs at the UFS.  

Angelo Mockie, Senior Officer: Arts, Culture and Dialogue at Student Affairs, says the show was primarily produced to convey a message of hope, solidarity, and support to the UFS community. “We chose Mandela Month to publish it, because those are the values that he believed in. Now more than ever, we need to stand together as a community to find ways of adapting to the new normal.”

In a message to UFS staff acknowledging the life and legacy of Nelson Mandela, Prof Francis Petersen, Rector and Vice-Chancellor, said Madiba’s example of compassion and courage made him one of the best-known leaders in the world.
“His life was a true inspiration and his devotion to democracy, equality, learning, and caring for others have earned him the respect of communities around the world.

This year, the significance of Mandela Day will be even more important than ever before, as we demonstrate caring by looking after ourselves, our families, and those around us, while we navigate through the pandemic. Caring provides purpose, but also the motivation to fulfil that purpose. The COVID-19 pandemic should enable us to imagine a world that is fairer, safer, more stable, secure, and one that can prosper.”

Taking Action

Heeding the call to take action and inspire change on Nelson Mandela’s birthday, you can read the following articles about the UFS making every day a Mandela Day:

The shelter and the students – a triumph of social impact

South Campus delivers much-needed educational support during pandemic

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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