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UFS Council approves name changes of five residences on the Bloemfontein Campus

01 December 2022 | Story Lacea Loader | Photo iFLAIR Photography

During its meeting on 25 November 2022, the Council of the University of the Free State (UFS) unanimously approved the name changes of five residences on the Bloemfontein Campus.

The UFS Institutional Transformation Plan (ITP) states that a transformed university in South Africa will be one that strives for social justice in everything it does. It will be an institution where its diverse people feel a sense of common purpose and where the symbols and spaces, systems and daily practices all reflect a commitment to openness and engagement.

“It is in this context that the names and symbols of all 36 residences on the Bloemfontein Campus have been reviewed to ensure that the institutional culture and spaces contribute to an inclusive sense of belonging. The process was started in 2021 through the university’s Naming Committee,” said Prof Francis Petersen, UFS Rector and Vice-Chancellor.

Subsequently, a process was launched for the review and adjustment of the names of several residences on campus. The recommended name changes express the university’s commitment to courageously grapple with its shared past, present, and future. They are informed by the (2020) Naming and Renaming Policy, which “recognises that the names bestowed on its assets must sustain a harmonious balance between descriptive functions, the university’s origins, the rich history and heritage of the UFS, and the constitutionally democratic society it is designed to serve”.

As such, the following name changes were approved by the UFS Council:

“The renaming process of the five residences included a variety of activities, all of which focused on building and implementing an engagement and consultation process with the various stakeholders and role player communities,” said Prof Petersen.

During the renaming process, an important approach of the Naming Committee was to balance the social justice and multilingual agenda of the UFS. Therefore, the languages used in the renaming process reflect not only some of the languages spoken at the UFS (i.e., English, Sesotho, Afrikaans, and isiZulu), but also languages such as isiXhosa, Kiswahili and the use of a name that draws on the national motto in ways that recognise the Khoisan heritage of the Free State and South Africa.

“The renaming process is an important milestone for the UFS as it symbolises and celebrates the courage and vision of the university community for its commitment to transformation and for participating in a process which aims at producing a names and symbols environment in which all can experience belonging,” said Prof Petersen.

During the Council meeting, the Naming Committee was thanked for the work done and for the balanced approach to the process of renaming the residences.

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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