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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

UFS Council unanimously reappoints Dr Khotso Mokhele as Chancellor

2015-04-02

Dr Khotso Mokhele, Chancellor of the University of the Free State

The Council of the University of the Free State (UFS) unanimously reappointed Dr Khotso Mokhele as Chancellor during its quarterly meeting held on 13 March 2015. He was first appointed in this portfolio by the Council on 4 June 2010.

“It is an honour for the Council to reappoint someone of this stature as Chancellor of the UFS. With his solid academic background and high profile in the business world, Dr Mokhele has been a great asset to the UFS. On behalf of the Council and the university community, I extend a word of appreciation for the work he has done during his first term as Chancellor of the UFS. He is an exceptional leader, and the university community is looking forward to have him as Chancellor for a second term,” said Judge Ian van der Merwe, Chairperson of the UFS Council.

Dr Mokhele was awarded a BSc Agriculture from Fort Hare University, and continued his studies at the University of California Davis (USA) on the Fulbright-Hays Scholarship Programme, completing his MSc (Food Science) and PhD (Microbiology). He was subsequently a postdoctoral fellow at Johns Hopkins University School of Medicine (USA) and the University of Pennsylvania School of Medicine (USA). Dr Mokhele is the recipient of honorary doctorates from nine South African universities including the UFS, and from Rutgers University in the USA.

He was Chairman of the Rhodes Scholarship Selection Committee for Botswana, Malawi, Namibia, Lesotho and Swaziland (2007-2011), and served on the South Africa at Large Rhodes Scholarship Selection Committee for more than 10 years. As President and Chief Executive Officer (CEO) of the Foundation for Research Development (1996-1999) and the NRF from 1999 to 2006, Dr Mokhele played a central role in providing visionary and strategic direction to the South African science system. He was the Founder President of the Academy of Science of South Africa (ASSAf), Founder President and CEO of the National Research Foundation (NRF), Chairperson of the Economic Advisory Council to the Premier of the Free State (2001-2004), and a member of the Advisory Council on Innovation to the Minister of Science and Technology (2003-2007). His role in securing government and international support for the Southern African Large Telescope Project (SALT) is evidence of his dedication to science in South Africa. The success of this project laid the basis for South Africa being selected to host more than 70% of the Square Kilometre Array, an international mega telescope for radio astronomy.

In recognition of his contribution to the development of science, he was the recipient of the Technology Top 100 Lifetime Achievers Award in 2009 and the National Science and Technology Forum Award in 2005. His role in science is recognised internationally. He was an elected Vice-President: Scientific Planning and Review of the International Council for Science and Chairperson of its Committee for Scientific Planning and Review (2005-2008) as well as a member of the Committee on Developing and Transition Economy Countries of the International Social Science Council (2008-2010). He also represented South Africa on the executive board of UNESCO, and was awarded the Member Legion of Honour of the Republic of France for his work in strengthening scientific ties between South Africa and France.

Dr Mokhele currently serves as Special Advisor to the Minister of Science and Technology, the Honourable Naledi Pandor. His current corporate positions include: Non-Executive Chairman: Board of Directors, Impala Platinum Holdings Ltd (Implats); Lead Independent Non-Executive Director: African Oxygen Ltd (Afrox); Non-Executive Director of Zimbabwe Platinum Holdings Ltd (Zimplats); Hans Merensky Holdings Ltd; and Tiger Brands Ltd. He is the President of the Hans Merensky Foundation (South Africa) and a Trustee of SciDev.Net (a web-based scientific magazine based in London, UK) and Start International Inc (USA).

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