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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

Machinery and equipment to the value of R6 million acquired by UFS Instrumentation Division
2015-07-02

Photo: Supplied

At an information session held on the Bloemfontein Campus, the Instrumentation Division in the Faculty of Natural and Agricultural Sciences at the University of the Free State (UFS) introduced its new Computer Numeral Control (CNC) machines to the value of R6 million.

Initially, the primary aim of the Instrumentation workshop was to design, produce, and maintain special research equipment which is unavailable on the market, mainly for academic departments. The small-scale production focused on producing support material and equipment for research work.

However, with new equipment and machinery the Division now also can deliver a service to corporate companies and external associates.
 
The CNC machines include a 5-axis Vertical Machining Centre from Haas imported from America. This is one of only four in South Africa, with two in Johannesburg and one in Cape Town.  The lathe makes it possible to produce sophisticated parts, which were previously cumbersome and difficult to make. The machines also cover a wide spectrum in the mechanical field such as the the FLOW Water Jet, which cuts a wide variety of material ranging from titanium to wood without utilising heat, thus saving electricity. This makes it possible to cut a wide variety of materials.

With the new machinery now available, the Instrumentation Division is able to perform high quality and quantity production with precision.

“The advantage of the machinery is that it stimulates production, and is much faster and more accurate than the conventional way of doing things,” said Pieter Botes, Head of the Division.

Botes explained that, by having students and professional artisans at the university design and manufacture equipment, costs are reduced when compared with the expensive nature of equipment and tools found in the market. In addition, “the machines broaden the scope of research conducted” said Botes. The technical dynamics of the machinery advances the scientific knowledge needed to operate it, so bridging the gap between theory and practice.

The Central University of Technology, Signs Division Bloemfontein, Product Development Technology Station (PDTS), Maizey’s, and Knottco Truckparts are some of the university’s trade partners.

The workshop collaborates with the Chemistry, Physics, Microbiology, Botany, Agriculture, and Electronics departments, as well as the Institute of Groundwater Studies at the UFS, and others. These departments receive services in the form of pipette stands, containers for test tubes, bottles, laboratory trolleys, stands for cadavers for Anatomy, pump repairs, stainless steel bailers, filaments, and heaters.

The Instrumentation Division is, therefore, a vital support unit for the Faculty of Natural and Agricultural Sciences as well as the university at large.

Companies, institutions, or individuals who need the Division’s expertise may contact Pieter Botes on botespds@ufs.ac.za.

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