Latest News Archive

Please select Category, Year, and then Month to display items
Previous Archive
09 April 2021 | Story Dr Nitha Ramnath | Photo Supplied
Tiisetso Mokoena tops the UFS Management Development Programme class of 2020

A tough 2020 did not dampen the spirit of Tiisetso Mokoena. Determined and steadfast, she obtained the highest average (92%) to become the top student in the Management Development Programme (MDP) offered by the University of the Free State (UFS) Business School. Mokoena enrolled for the MDP after receiving a bursary from the Services SETA. This is a remarkable achievement, as not only did Mokoena have fierce competition from an exceptionally large group – COVID-19 presented its own challenges that Mokoena had to face. Mokoena transitioned seamlessly from traditional face-to-face to online learning and excelled at it.

“Ms Mokoena was a very enthusiastic and committed student. She worked extremely hard and was not deterred by the transition from face-to-face to online lectures. Her hard work paid off, with impressive results. We are very proud of her,” says Programme Coordinator, Jo’Anni Deacon.

Mokoena also adds: “It has been a great honour to be part of the Higher Certificate Management Development Programme (MDP), and I thank my employer, Services SETA, and the UFS Business School for making it all possible.”
“My overall experience of the programme was impressive. I came into it with an expectation to better myself in my career; I believe that I will achieve this, as I was presented with tools and techniques that will help me grow professionally. As I went through the programme, I developed a sense of ambition and my strategic thinking progressed. I learned a lot about the basics of an everyday business world as we went through different modules, and there were a lot of ‘aha’ moments,” Mokoena adds.

“The UFS Business School is phenomenal, the academic support we as students received throughout the programme was amazing – we were treated with such dignity. The staff took time and effort to assist us with the utmost care and professionalism,” says Mokoena about her experience in the UFS Business School. 

About the UFS Business School and the Higher Certificate in Management Development

The Business School within the Faculty of Economic and Management Sciences has established itself as a leader in South Africa with the provision of the Higher Certificate in Management Development. A dynamic supplement to this spectrum of management programmes on offer is an excellent Higher Certificate in Management Development (MDP). The MDP emphasises leadership development, broadens insight through exposure to the most important management disciplines, and integrates it into a total management approach. This tailor-made qualification has been designed to assist institutions, managers, and managers-to-be in both the private and public sectors.

News Archive

The failure of the law
2004-06-04

 

Written by Lacea Loader

- Call for the protection of consumers’ and tax payers rights against corporate companies

An expert in commercial law has called for reforms to the Companies Act to protect the rights of consumers and investors.

“Consumers and tax payers are lulled into thinking the law protects them when it definitely does not,” said Prof Dines Gihwala this week during his inaugural lecture at the University of the Free State’s (UFS).

Prof Gihwala, vice-chairperson of the UFS Council, was inaugurated as extraordinary professor in commercial law at the UFS’s Faculty of Law.

He said that consumers, tax payers and shareholders think they can look to the law for an effective curb on the enormous power for ill that big business wields.

“Once the public is involved, the activities of big business must be controlled and regulated. It is the responsibility of the law to oversee and supervise such control and regulation,” said Prof Gihwala.

He said that, when undesirable consequences occur despite laws enacted specifically to prevent such results, it must be fair to suggest that the law has failed.

“The actual perpetrators of the undesirable behaviour seldom pay for it in any sense, not even when criminal conduct is involved. If directors of companies are criminally charged and convicted, the penalty is invariably a fine imposed on the company. So, ironically, it is the money of tax payers that is spent on investigating criminal conduct, formulating charges and ultimately prosecuting the culprits involved in corporate malpractice,” said Prof Gihwala.

According to Prof Gihwala the law continuously fails to hold companies meaningfully accountable to good and honest business values.

“Insider trading is a crime and, although legislation was introduced in 1998 to curb it, not a single successful criminal prosecution has taken place. While the law appears to be offering the public protection against unacceptable business behaviour, it does no such thing – the law cannot act as a deterrent if it is inadequate or not being enforced,” he said.

The government believed it was important to facilitate access to the country’s economic resources by those who had been denied it in the past. The Broad Based Economic Empowerment Act of 2003 (BBEE), is legislation to do just that. “We should be asking ourselves whether it is really possible for an individual, handicapped by the inequities of the past, to compete in the real business world even though the BBEE Act is now part of the law?,” said Prof Gihwala.

Prof Gihwala said that judges prefer to follow precedent instead of taking bold initiative. “Following precedent is safe at a personal level. To do so will elicit no outcry of disapproval and one’s professional reputation is protected. The law needs to evolve and it is the responsibility of the judiciary to see that it happens in an orderly fashion. Courts often take the easy way out, and when the opportunity to be bold and creative presents itself, it is ignored,” he said.

“Perhaps we are expecting too much from the courts. If changes are to be made to the level of protection to the investing public by the law, Parliament must play its proper role. It is desirable for Parliament to be proactive. Those tasked with the responsibility of rewriting our Companies Act should be bold and imaginative. They should remove once and for all those parts of our common law which frustrate the ideals of our Constitution, and in particular those which conflict with the principles of the BBEE Act,” said Prof Gihwala.

According to Prof Gihwala, the following reforms are necessary:

• establishing a unit that is part of the office of the Registrar of Companies to bolster a whole inspectorate in regard to companies’ affairs;
• companies who are liable to pay a fine or fines, should have the right to take action to recover that fine from those responsible for the conduct;
• and serious transgression of the law should allow for imprisonment only – there should be no room for the payment of fines.
 

Prof Gihwala ended the lecture by saying: “If the opportunity to re-work the Companies Act is not grabbed with both hands, we will witness yet another failure in the law. Even more people will come to believe that the law is stupid and that it has made fools of them. And that would be the worst possible news in our developing democracy, where we are struggling to ensure that the Rule of Law prevails and that every one of us has respect for the law”.

 

 

We use cookies to make interactions with our websites and services easy and meaningful. To better understand how they are used, read more about the UFS cookie policy. By continuing to use this site you are giving us your consent to do this.

Accept