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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

Forensic investigation at UFS Computer Services division in final stage of finalisation

2007-02-01

Statement by prof Niel Viljoen, Chief Director: Operations

The case in which possible irregularities were investigated at the University of the Free State’s (UFS) Computer Services Division at the end of 2005, and which led to two Deputy Directors’ compulsory leave pending an investigation, is making good progress and is in the final stage of finalisation.

One of the Deputy Directors resigned unconditionally a day before his disciplinary hearing was to take place. He is one of two staff members who were placed on compulsory leave after an internal investigation ordered by the UFS management indicated possible irregularities in the division.

“As a result of the extent of the case and the involvement of more than one local business, the investigation had a long course,” said Prof Viljoen.

“The Deputy Director who resigned would have appeared before a disciplinary committee with Judge Joos Hefer as chairperson on charges of misconduct, involving more than R500 000,” said Prof Viljoen.

“We are going ahead with the process of criminal prosecution against this person and a docket was opened at the commerce branch of the South African Police Services (SAPS). A civil action to recover damages from him was started,” Prof Viljoen said.

With a couple of exceptions, the internal disciplinary process of the other persons involved in the case is also finalised. “The disciplinary hearing of the Deputy Director, who is still in the service of the UFS’s Computer Services division, is scheduled for May 2007. This person is still on compulsory leave,” Prof Viljoen said.

“To demonstrate our commitment to the enhancement of honest work ethics and to give to personnel and students a mechanism to bring any unethical business practices to the attention of the UFS management, a fraud hotline was installed last year. The hotline is operated 24 hours a day for 365 days of the year by KPMG,” Prof Viljoen said.

Prof Viljoen thanked everyone who was involved in the investigation for their cooperation. This includes staff as well as people from outside the UFS. “We are committed to transparent corporate management. Any possible irregularities will be investigated and if staff or students are found guilty of any irregular behaviour, strict actions would be taken against these persons,” Prof Viljoen said.

Media release

Issued by: Lacea Loader

Media Representative

Tel: (051) 401-2584

Cell: 083 645 2454

E-mail: loaderl@mail.ufs.ac.za
2 February 2007

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