Latest News Archive

Please select Category, Year, and then Month to display items
Previous Archive
21 April 2022 | Story Leonie Bolleurs | Photo Leonie Bolleurs
Walena and Elize
Walena Marambakuyana and Elize Swartz.

Her love of numbers and analysing data – to such an extent that she, just for the fun of it, did university Mathematics in her spare time in Grade 10. This not only resulted in an A for Maths in matric, but also contributed to Walena Anesu Marambakuyana’s success during her postgraduate studies, as she was announced the best honours student in her year group in the Faculty of Natural and Agricultural Sciences. 

Solutions to Africa’s challenges

For this prestigious achievement, she was presented the Dean’s Medal, which she collected during the faculty’s graduation ceremony on 21 April 2022. “I can't begin to say how much this means to me. I think of the struggles that I've faced, and it just proves to me that anything is possible if you set your mind to it,” says Walena, who believes this achievement will also motivate her little sisters to aim higher in life. 

Walena, who completed her undergraduate studies in Actuarial and Financial Mathematics at the University of Pretoria, continued with her honour’s degree in Risk Analysis at the UFS.

“Thinking back, it was always clear that I would take this route. Throughout primary school and high school, the Math teachers particularly liked me. I think it was because they saw that I really enjoyed Mathematics. I also remember that at the tender age of seven, my dad's colleagues would call me a mathematician,” recounts Walena.

She, like her aunt and role model, Dr C Gandidzanwa, is working towards obtaining a PhD. Currently, Walena is enrolled for the master’s degree in Risk Analysis at the UFS. “In my view, a PhD would enable me to contribute to innovative ideas that will provide solutions to the various challenges we are facing in Africa and the world at large. I specifically would like to inspire younger generations coming after us to safeguard against risks by anticipating, assessing, and taking the necessary steps to mitigate against risks,” she says.

“I believe risk assessment and mitigation not only contribute to my day-to-day activities; it also affects bigger global challenges such as climate change. Through my studies, I have a clear picture of what can be done to mitigate these risks. However, the challenge is always to ensure that this filters to practical action,” says Walena.

This is where I belong

Receiving the Dean’s Medal for the best marks in the group of master’s students in the Faculty of Natural and Agricultural Sciences at the University of the Free State (UFS), was another mathematician, Elize Swartz. “Receiving the Dean's Medal is a great honour for me. It reminds me that hard work pays off and it encourages me to continue with my studies.”

She completed her honours degree, majoring in Mathematics and Applied Mathematics, in 2019 and her master’s degree in Mathematics in 2021. For both, her mini thesis was in the field of graph theory.

Currently a lecturer in the UFS Department of Mathematics and Applied Mathematics, she is looking forward to starting with her PhD later this year. Elize, who already knew in primary school that she wanted to be a teacher, is hoping to one day be a full-time lecturer at the UFS. “My passion is to work with young people. I hope to make a difference in their lives by teaching, sharing my knowledge, and helping them in such a way that they experience the love of Jesus Christ,” she says. 

She continues: “I cherish the instances when my lecturers gave me advice, encouraged me, and recognised my hard work. I want to share and continue that positive experience with other people and students by teaching them to work hard and be responsible, while treating them with kindness, patience, and love.”

Her favourite part of studying was the moment when she did homework and assignment problems and everything just started to fall into place. “For me, Maths problems are almost like a little game or puzzle. I also enjoyed receiving my marks after each assignment, test, or exam, knowing that this was the result of all my hard work,” says Elize, who also enjoys campus life, especially after the lockdown, “walking on campus – feeling safe, at home, and the sense of knowing this is where I belong”.

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


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