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12 November 2021 | Story Leonie Bolleurs | Photo Supplied
The group that went through to the finals of the CFA Institute Research Challenge, was from the left: Jan Hendrik Grobbelaar; Frans Benecke, Dr Ivan van der Merwe, Sacha Bourquin, and Johann Schlebusch.

Due to their knowledge and skills, charter holders are in high demand in the finance industry. A Chartered Financial Analyst (CFA) qualification sets extremely high standards of integrity and excellence, and these professionals are thus highly sought after in the investment management industry.

Dr Ivan van der Merwe, Lecturer in the Department of Economics and Finance at the University of the Free State (UFS), says the CFA Society South Africa recently (27 October) hosted the 13th annual local edition of the CFA Institute Research Challenge. “This research challenge is an annual global competition in equity research presented by the CFA Institute, which is the global representative body for CFA charter holders.”

Exceptional performance 

In a very competitive university challenge, one of the two UFS teams that entered made it through to the regional finals, along with one team each from the University of Johannesburg (UJ), the University of Stellenbosch Business School (USB), and the University of Cape Town (UCT).

Besides having the opportunity to compete with the best, the research challenge also offered students the chance to learn from leading industry experts on how to perform in-depth company analysis and to present their findings,” says Dr Van der Merwe. 

He explains that during this challenge, students had to assume the role of a sell-side research analyst and were scored by a CFA judging panel on their ability to value a specific company – Impala Platinum in this case. They had to write a concise report that covered various aspects related to the company’s business activities, structure, governance, finances, etc., after which they had to present their recommendation in terms of buying or selling the company. In addition, finalists also had to make a formal presentation via Zoom to a panel of judges from the CFA Society South Africa, where they had to justify their valuation by answering several questions posed by the judges. 

“Although the team from USB won the finals, it was still an exceptional performance for the UFS to make it to the top four teams in the country,” states Dr Van der Merwe.

Mentored by the best

Selection of the two teams of four members each representing the UFS during the 2021 challenge was based on the students’ performance during the first semester of their BCom Honours (specialisation in Financial Economics and Investment Management) in the Department of Economics and Finance.

Once selected to enter the competition, the team members were coached by an industry mentor as well as a faculty adviser. 

Dr Van der Merwe, who was the team’s adviser, says, “I was very impressed with the dedication that this group showed during the competition. It took many days and even some sleepless nights for them to produce an impressive final product within a short period.”

He believes the experience they gained during this challenge will stand them in good stead. “To successfully complete a very stressful live presentation and subsequent question session was a confidence builder for the teams. They made us proud and will inspire future Finance students at the UFS to follow in their footsteps.”

Winners of the regionals will proceed to participate in the international final, which is, according to Dr Van der Merwe, an extremely prestigious achievement, since more than 1 000 universities compete annually.  

News Archive

Academic delivers inaugural lecture on South African foreign policy
2007-08-06

 

In her inaugural lecture Prof. Heidi Hudson from the Department of Political Sciences, focused on the impact that Pan-Africanist sentiments have had on South Africa’s foreign policy. She also put the resulting contradictions and ambiguities into context. At her inaugural lecture were, from the left: Proff. Frederick Fourie (Rector and Vice-Chancellor of the UFS), Heidi Hudson, Engela Pretorius (Vice-Dean: Faculty of The Humanities) and Daan Wessels (Research Associate in the Department of Political Science).
Photo: Stephen Collett

Academic delivers inaugural lecture on South African foreign policy

“We are committed to full participation as an equal partner … opposed to any efforts which might seek to project South Africa as some kind of superpower on our continent. … the people of Africa share a common destiny and must therefore … address their challenges … as a united force...” (Mbeki 1998:198-199).

Prof. Heidi Hudson from the Department of Political Science referred to this statement made by president Mbeki (made at the opening of the OAU Conference of Ministers of Information in 1995) when she delivered her inaugural lecture on the topic: South African foreign policy: The politics of Pan-Africanism and pragmatism.

One of the questions she asked is: “Can the South African state deliver democracy and welfare at home while simultaneously creating a stable, rules-based African community?”

She answers: “South Africa needs to reflect more critically and honestly on the dualism inherent in its ideological assumptions regarding relations with Africa. South Africa will always be expected by some to play a leadership role in Africa. At the moment, South Africa’s desire to be liked is hampering its role as leader of the continent.”

In her lecture she highlighted the ideological underpinnings and manifestations of South Africa’s foreign policy. Throughout she alluded to the risks associated with single-mindedly following an ideologically driven foreign policy. She emphasised that domestic or national interests are the victims in this process.

Prof. Hudson offers three broad options for South Africa to consider:

  • The Predator – the selfish bully promoting South African economic interest.
  • Mr Nice Guy – the non-hegemonic partner of the African boys club, multilaterally pursuing a pivotal but not dominant role.
  • The Hegemon - South Africa driving regional integration according to its values and favouring some African countries over others, and with checks and balances by civil society.

She chooses option three of hegemony. “Politically correct research views hegemony as bad and partnership as good. This is a romanticised notion – the two are not mutually exclusive,” she said.

However, she states that there have to be prerequisites to control the exercise of power. “The promotion of a counter-hegemon, such as Nigeria, is necessary. Nigeria has been more effective in some respects than South Africa in establishing its leadership, particularly in West Africa. Also needed is that government should be checked by civil society to avoid it sinking into authoritarianism. The case of business and labour coming to an agreement over the HIV/Aids issue is a positive example which illustrates that government cannot ignore civil society. But much more needs to be done in this regard. South Africa must also be very careful in how it uses its aid and should focus potential aid and development projects more explicitly in terms of promoting political stability,” she said.

Prof. Hudson said: “It is also questionable whether Mbeki’s Afro-centrism has in fact promoted the interests of ordinary citizens across Africa. Instead, elite interests in some countries have benefited. But ultimately, the single most important cost is the damage done to the moral code and ethical principles on which the South African Constitution and democracy is founded.

“In the end we all lose out. More pragmatism and less ideology in our relations within Africa may just be what are needed,” she said.

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