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01 April 2021 | Story Dr Nitha Ramnath | Photo Supplied
Back: Dr Nico Keyser (editor), Dr Ivan van der Merwe. Front: Minette Weideman (Portfolio Manager at Levevis Investment and Consulting Services), Melanie Ferreira (Business Development Manager at Allan Gray), Dr Cecile Duvenhage (editor) and Lizelle Jansen van Rensburg (Lecturer). Dr Jesse de Beer (Lecturer at University of Namibia) was absent.

Two lecturers from the Department of Economics and Finance at the University of the Free State (UFS) teamed up with alumni – who were once students in their department – to write a book on personal finance. This book is the latest hands-on application of the theory in practice.

“From the book it is evident how our alumni – who once were learners – became educators and contributed to teaching and learning,” says Dr Cecile Duvenhage, Lecturer in the Department of Economics and Finance, about the book Personal Finance. The desire to write this book stems from previous studies done by Dr Duvenhage and Dr Nico Keyser, Senior Lecturer, on the financial literacy levels among young adults. 

One such study was published in the Journal of Psychology in Africa (29(4):460-465). According to the study, young adults lack the basic understanding of financial aspects. Theory can be learned by heart, but the understanding and execution of well-informed financial decisions need to be addressed. Thus, the book was written in such a way that it is easy to understand, and with the aim of changing financial behaviour and attitude in a positive manner. The book provides useful websites and appendices for additional information and reading, and is aimed at the man on the street, researchers, and practitioners. 

Acording to the authors, during the writing of the book in 2020, new challenges arose, including the dramatic impact of COVID-19 on the financial market, and these aspects were included during the final stages and editing of this book. 

“Why personal finance? ‘Money makes the world go round’, the saying goes. Good financial decision making has a positive influence on overall well-being, allowing people to maximise their opportunities and lead more fulfilling lives. Personal finance teaches individuals financial skills so that they can manage their money better. The subject, Personal finance, is an interdisciplinary subject and encompasses many areas and core topics such as decision making, cash-flow management, savings, credit, debt, housing, and planning for the future.” 

Personal Finance (first edition) was published by Van Schaik Publishers and has been available from leading bookshops since the end of December 2020.  All chapters were critically reviewed by three (3) university lecturers and a qualified editorial panel.

News Archive

New world-class Chemistry facilities at UFS
2011-11-22

 

A world-class research centre was introduced on Friday 18 November 2011 when the new Chemistry building on the Bloemfontein Campus of the University of the Free State (UFS) was officially opened.
The upgrading of the building, which has taken place over a period of five years, is the UFS’s largest single financial investment in a long time. The building itself has been renovated at a cost of R60 million and, together with the new equipment acquired, the total investment exceeds R110 million. The university has provided the major part of this, with valuable contributions from Sasol and the South African Research Foundation (NRF), which each contributed more than R20 million for different facets and projects.
The senior management of Sasol, NECSA (The South African Nuclear Energy Corporation), PETLabs Pharmaceuticals, and visitors from Sweden attended the opening.

Prof. Andreas Roodt, Head of the Department of Chemistry, states the department’s specialist research areas includes X-ray crystallography, electrochemistry, synthesis of new molecules, the development of new methods to determine rare elements, water purification, as well as the measurement of energy and temperatures responsible for phase changes in molecules, the development of agents to detect cancer and other defects in the body, and many more.

“We have top expertise in various fields, with some of the best equipment and currently competing with the best laboratories in the world. We have collaborative agreements with more than twenty national and international chemistry research groups of note.

“Currently we are providing inputs about technical aspects of the acid mine water in Johannesburg and vicinity, as well as the fracking in the Karoo in order to release shale gas.”

New equipment installed during the upgrading action comprises:

  • X-ray diffractometers (R5 million) for crystal research. Crystals with unknown compounds are researched on an X-ray diffractometer, which determines the distances in angstroms (1 angstrom is a ten-billionth of a metre) and corners between atoms, as well as the arrangement of the atoms in the crystal, and the precise composition of the molecules in the crystal.
  • Differential scanning calorimeter (DSC) for thermographic analyses (R4 million). Heat transfer and the accompanying changes, as in volcanoes, and catalytic reactions for new motor petrol are researched. Temperature changes, coupled with the phase switchover of fluid crystals (liquid crystals -watches, TV screens) of solid matter to fluids, are measured.
  • Nuclear-magnetic resonance (NMR: Bruker 600 MHz; R12 million, one of the most advanced systems in Africa). A NMR apparatus is closely linked with the apparatus for magnetic resonance imaging, which is commonly used in hospitals. NMR is also used to determine the structure of unknown compounds, as well as the purity of the sample. Important structural characteristics of molecules can also be identified, which is extremely important if this molecule is to be used as medication, as well as to predict any possible side effects of it.
  • High-performance Computing Centre (HPC, R5 million). The UFS’ HPC consists of approximately 900 computer cores (equal to 900 ordinary personal computers) encapsulated in one compact system handling calculations at a billion-datapoint level It is used to calculate the geometry and spatial arrangements, energy and characteristics of molecules. The bigger the molecule that is worked with, the more powerful the computers must be doing the calculations. Computing chemistry is particularly useful to calculate molecular characteristics in the absence of X-ray crystallographic or other structural information. Some reactions are so quick that the intermediary products cannot be characterised and computing chemistry is of invaluable value in that case.
  • Catalytic and high-pressure equipment (R6 million; some of the most advanced equipment in the world). The pressures reached (in comparison with those in car tyres) are in gases (100 times bigger) and in fluids (1 500 times) in order to study very special reactions. The research is undertaken, some of which are in collaboration with Sasol, to develop new petrol and petrol additives and add value to local chemicals.
  • Reaction speed equipment (Kinetics: R5 million; some of the most advanced equipment in the world). The tempo and reactions can be studied in the ultraviolet, visible and infrared area at millisecond level; if combined with the NMR, up to a microsecond level (one millionth of a second.

Typical reactions are, for example, the human respiratory system, the absorption of agents in the brain, decomposition of nanomaterials and protein, acid and basis polymerisation reactions (shaping of water-bottle plastic) and many more.

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