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Global Citizen - Courageous Conversations

15 June 2021 | Story Dr Nitha Ramnath

Prof Francis Petersen, Rector and Vice-Chancellor of the University of Free State, South Africa, invites us to rethink our relationship with the world in a series of ‘Courageous Conversations’ on the theme of ‘The Global Citizen’.

Prof Petersen argues that COVID-19 has been a powerful ‘disruptor’ - it has given us a stark reminder of the need to rethink our identity, of where we belong, our ‘normative’ view of citizenship – if we want to secure long-term survival of our civilisation and the environments which support it.

Powerful voices from public life, intellectuals, public interest and business leaders, academics, naturalists, religious leaders, astrophysicists, economists, and ecologists, and others, will be invited to share and debate their views.

Global Citizen courageous conversation launch
In partnership with the South African Chamber of Commerce based in the United Kingdom, the series launched on 26 May 2021, in a discussion with Prof Petersen on the concept and context of his thinking and how the series will roll out.

If you were unable to join the webinar you can watch the replay on YouTube, or visit the South African Chamber of Commerce website where you'll find recordings of previous webinars.

Join our next Global Citizen conversation on 17 June 2021 with a discussion led by the Chancellor of the University of Free State, Prof Bonang Francis Mohale, a published author and respected business leader who has held chairmanships and directorships at some of South Africa’s top companies, on how we educate for Global Citizenship.

Educating a ‘Global Citizen’ – June 17, 2021 15:00 SAST
We have pleasure in inviting you to the United Kingdom - South African Chamber of Commerce’s next ‘courageous conversation’ with University of Free State Rector and Vice-Chancellor Prof Francis Petersen in his series debating ‘The Global Citizen’.

Eminent South African business leader and UFS Chancellor, Prof Bonang Mohale, will join Prof Petersen to unwrap the role universities can play in creating a ‘Global Citizen’ mindset to effect material change in a constantly evolving and turbulent international world.

How do universities produce research, and graduate alumni who go out into the world, to drive and reflect the bedrock value of Global Citizenship namely that of mutual respect, for others, for all creatures, and the environment which sustains us all?

A university education can be a powerful way to push the ‘reset’ button on the baggage of upbringing and our histories - personal, cultural, national, racial – which shape our world view.

Universities can promote informed self-reflection, curiosity, and tolerance as a driving force in how we shape our realities, understand our prejudices, promote tolerance, and animate life in a better world. Prof Petersen and Prof Mohale will reflect on how universities can accelerate and respond with greater agility to this challenge.

Kindly RSVP for the event.

News Archive

Producers to save thousands with routine marketing strategies, says UFS researcher

2014-09-01

Photo: en.wikipedia.org

Using derivative markets as a marketing strategy can be complicated for farmers. The producers tend to use high risk strategies which include the selling of the crop on the cash market after harvest; whilst the high market risks require innovative strategies including the use of futures and options as traded on the South African Futures Exchange (SAFEX).

Using these innovative strategies are mostly due to a lack of interest and knowledge of the market. The purpose of the research conducted by Dr Dirk Strydom and Manfred Venter from the Department of Agricultural Economics at the University of the Free State (UFS) is to examine whether the adoption of a basic routine strategy is better than adopting no strategy at all.

The research illustrates that by using a Stochastic Efficiency with Respect to a Function (SERF) and Cumulative Distribution Function (CDF) that the use of five basic routine marketing strategies can be more rewarding. These basic strategies are:
• Put (plant time)
• Twelve-segment pricing
• Three-segment pricing
• Put (pollination)(Critical Moment in production/marketing process), and
• Pricing during pollination phase.

These strategies can be adopted by farmers without an in-depth understanding of the market and market-signals. Farmers can save as much as R1.6 million per year on a 2000ha farm with an average yield.

The results obtained from the research illustrate that each strategy is different for each crop. Very important is that the hedging strategies are better than no hedging strategy at all.

This research can also be applicable to the procurement side of the supply chain.

Maize milling firms use complex procurement strategies to procure their raw materials, or sometimes no strategy at all. In this research, basic routine price hedging strategies were analysed as part of the procurement of white maize over a ten-year period ranging from 2002–2012. Part of the pricing strategies used to procure white maize over the period of ten years were a call and min/max strategy. These strategies were compared to the baseline spot market. The data was obtained from the Johannesburg Stock Exchange’s Agricultural Products Division better known as SAFEX.

The results obtained from the research prove that by using basic routine price-hedging strategies to procure white maize, it is more beneficial to do so than by procuring from the spot market (a difference of more than R100 mil).

Thus, it can be concluded that it is not always necessary to use a complex method of sourcing white maize through SAFEX, to be efficient. By implementing a basic routine price hedging strategy year on year it can be better than procuring from the spot market.

Understanding the Maize Maze by Dr Dirk Strydom and Manfred Venter (pdf) - The Dairy Mail

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