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Ghana High Commissioner visits the UFS

24 June 2022 | Story Dr Nitha Ramnath

“We are trying to close the divide between Ghanaian and South African higher education institutions. Many Ghanaians look to UK and US universities as their first option. However, the same level of education, at a far less rate, is offered at South African higher education institutions – and the University of the Free State in particular.”

These were some of the sentiments shared by His Excellency Mr Charles Asuako Owiredu, High Commissioner of the Republic of Ghana to South Africa, during his recent visit to the University of the Free State.

The High Commissioner, accompanied by the Deputy High Commissioner and Head of Protocol, was hosted by Prof Francis Petersen. After a successful meeting, the students and academics from the Ghanaian community were also engaged. “The Vice-Chancellor was full of praise for the Ghanaian students and their performance at the UFS,” said the High Commissioner.

Prof Chitja Twala, Vice-Dean in the Faculty of the Humanities, highlighted the longstanding relationship that the UFS has with the University of Ghana. “We have a good relationship with the Department of History at the University of Ghana, and we are looking forward to collaboration with the institution,” added Prof Twala.

The High Commissioner felt strongly about cementing the relationships that already exist between the UFS and universities in Ghana and will lobby for education to be included in the master framework used as an operational document between the two countries. Faculty exchanges between the UFS and Ghanaian universities were also encouraged by the High Commissioner.

The High Commissioner encouraged Ghanaian students and academics at the UFS to suggest ways to deepen the relationship between the UFS and Ghanaian institutions.

Dr Prince Sarpong, Senior Lecturer in the School for Financial Planning Law at the UFS, proposed a collaboration between the UFS and Ghanaian institutions in the field of financial planning, whereby there could be an opportunity to reach out and expand the practice of financial planning to institutions in Ghana. The High Commissioner was eager to know more about financial planning and its location within law.

Ghanaian students who attended the meeting shared their experiences and perspectives about the UFS and indicated that an excellent relationship exists with project supervisors while pursuing their studies remotely.

According to Ghanaian students based on the UFS campuses, the UFS is doing great work by engaging students from Ghana in the UFS programme. However, students indicated that challenges were experienced with the South African Qualifications Authority (SAQA).

Dr Cornelius Hagenmeier, Director of the Office for International Affairs at the UFS, assured students that the aspect of SAQA is important and will be looked into, as it relates to the recruitment of students.

The High Commissioner also suggested that the Ghana Accreditation Board engage with SAQA.

A UFS delegation will be visiting Ghana in October to explore the opportunities in agriculture, entrepreneurship, and the Business School.

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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