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Use social media responsibly, advises Deputy Minister John Jeffery

11 July 2022 | Story Lunga Luthuli | Photo Supplied

Freedom of expression discussion — From the left: Dr. Annelie De Man (Coordinator - advocacy division - Free State Centre for Human Rights), Deputy Minister John Jefferey, Department of Justice and Constitutional Development, Martie Bloem ( Private Law Lecturer, Faculty of Law), Tshepang Mahlatsi (Student Assistant - Advocacy division) and Prof Danie Brand (The Director of the Free State Centre for Human Rights).

According to the international market and consumer data company Statista’s June 2022 data, more than 4,6 billion people worldwide are using social media; this is an increase of 1 billion people compared to the total users in 2020.

Delivering his lecture on ‘Social Media, Freedom of Expression, and the Law’ on the University of the Free State Bloemfontein Campus on 30 May 2022, John Jeffery, Deputy Minister of Justice and Constitutional Development, said, “The power of social media lies in the sheer magnitude of the number of people using it.”

He said: “Section 16 of the South African Constitution provides that everyone has the right to freedom of expression, which includes freedom of the press and other media; freedom to receive or impart information or ideas; freedom of artistic creativity; and academic freedom and freedom of scientific research.”

He advised perpetrators of malicious social media posts about the consequences and the harm to persons who are victims.

Depending on the circumstances, a person who suffers harm because of being the subject of someone else’s social media posts, can be protected under the Protection from Harassment Act. According to the Act, this is due to mental, psychological, physical, or economic harm.

Speaking at the Odeion School of Music, Deputy Minister Jeffery said, “Social media brings with it the importance of responsible use. As a social media user, you are entirely responsible for whatever appears on your social media accounts.’

He said: “Whatever you do in life – your conduct and your words – can be put onto various platforms and they will be there for a very long time. Do better, be better – and use social media to inspire people, to have an impact on the world, and to make it a better place.”

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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