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Department of Economics and Finance took hands with alumni students in writing a book

01 April 2021 | Story Dr Nitha Ramnath | Photo Supplied

Personal finance authors_web read more — 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

The challenges of local governance highlighted at the JN Boshoff Memorial lecture

2014-08-26

Mr Kopung Ralikontsane
Photo: Jerry Mokoroane

The annual JN Boshoff memorial lecture was hosted by the Faculty of Economics and Management Sciences in conjunction with the Department of Public Management on 21 August 2014. Mr Kopung Ralikontsane, Director-general of the Free State Provincial Government, presented the keynote address, ‘Challenges Facing Local Government in Service Delivery’.

In his opening remarks, Mr Ralikontsane gave the background of the South African municipal structures, the legal framework within which they operate and the challenges they are currently facing. He added that “local government is a sphere at the coalface of service delivery and if this sphere fails, South Africa would have failed to be a developmental state.”

He said the Free State provincial government has made great strides in developing local communities, with millions of rands invested in various development projects such as water and sanitation, electrification, roads and storm water structures, community facilities and solid waste disposal.

Local government is still faced with other challenges, though. He pointed out that public employees are subject to greater scrutiny and increased demands from citizens. As a result, they have to provide better services, but within stricter limits on resources. Conflict arises due to changing relationships between public servants and citizens, downsizing, restructuring and contracting out of government services and activities.

Despite the various structures implemented by local government, municipalities are serving an ever-growing population in an economic decline. Regulations have been put into place to devise credible Integrated Development Plans (IDPs) to improve municipal infrastructure, build competent management teams and strong operations and increase technical capacity for effective delivery of services.

Mr Ralikontsane invited students to join local government in crafting innovative solutions. “We know the problem, but we need to encourage you to join forces with your local government and tackle them.”

Mr Kopung Ralikontsane has served in local government for two decades and also serves as Head of Administration of the Free State Government and as Cabinet Secretary.

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