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11 August 2022 | Story NONSINDISO QWABE | Photo SUPPLIED
The erudite watchmaker, Jabulani Mabuza.

At a time when it is becoming fashionable for high-tech smartwatches and fitness gadgets to adorn your wrist, there will always be room for a classic timepiece. Wristwatches in particular tell a different story to people of all social classes, and for Qwaqwa student Jabulani Mabuza, the process of making different watches to suit different tastes is what excites him the most.

Mabuza is in his final year of a BCom General Management degree.  In January 2020, he acted on his curiosity about the process of assembling a watch, and subsequently registered his watch business, Honour Watches, in January 2021.
Since then, he has steadily honed his craft, learning more about the art of watches. He recently made it through to the central regional rounds of the Entrepreneurship Development in Higher Education (EDHE) competition in the Existing Businesses category for studentpreneurs. 

On the pursuit of mastering the art of watchmaking

Horology is the study and measurement of time. It is the process of allowing yourself the time and patience required to master the art of building a watch from scratch, and Mabuza said he enjoyed the intricacies of the watchmaking process. “What I enjoy about horology is learning the deeper technicalities of the art, the whole process – from understanding basic astronomy and how planets move in our solar system, to sort of emulating that in a watch mechanism. The working of metals transformed into watch components that actually tell time, is what I enjoy most and what I am investing in so that I can master it one day,” he said.

As a BCom student, he said his studies have largely influenced his business journey, as it helps him understand the structure of his business professionally. “It assists me with the business administration and management of Honour, and the rest is inspired by my creativity and passion for what time means to human beings.”

Mabuza said South Africa does not have a watchmaking plant as yet, so all the components for his watches are currently imported from Japan and Switzerland. He hopes to one day have his own production plant that will produce watches from scratch, in order to teach more people this skill and to create jobs, for which there is always a need. Currently, he studies the watch components to learn which movement best complements which type of hand and casing, in order to assemble them according to the designs he likes. 

“I enjoy the pursuit of creating a mechanical auto-magnetic watch for international travellers that will automatically adjust to different time zones as they travel. These horological pursuits are what I enjoy the most, believe in, and am passionate about.”

The regional rounds will be held on the UFS Bloemfontein Campus from 19 to 23 September 2022.

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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