Latest News Archive

Please select Category, Year, and then Month to display items

UFS to host ABASA’s sixth annual Prof Wiseman Nkuhlu Lecture

18 July 2023 | Story Kekeletso Takang

UFS to host ABASA sixth annual Prof Wiseman Nkuhlu lecture

The University of the Free State (UFS) is pleased to host the Association for the Advancement of Black Accountants of Southern Africa’s (ABASA) sixth annual Wiseman Nkuhlu lecture on 28 July 2023 in the Equitas Auditorium on its Bloemfontein Campus.

The prestigious lecture will be delivered by Tantaswa Fubu, ABASA past President and CEO of Great Well, under the theme, The Value of Accountants Reimagined.

ABASA was established in 1985 to promote the professional interests of black persons engaged in the accounting profession. Through this lecture, the association aims to raise renewed support from ABASA stakeholders, captains of industry, and corporates to assist in providing the resources and expertise required for the university to continue producing the leadership excellence it is known and respected for.

Attendees can look forward to presentations by Prof Wiseman Nkuhlu, Chancellor of the University of Pretoria and Chairman of the Board of KPMG; Linda Maqoma, ABASA President; Dr Molapo Qhobela, a Deputy Vice-Chancellor at the UFS; Ayanda Mafuleka, CEO of Fasset; and Likeleli Monyamane, Programme Manager at Standard Bank Group.

The event will be attended by dignitaries from the UFS, SAICA, Fasset, and ABASA.

Event details:

Date:	28 July 2023
Time:	14:00-16:00
Venue:	Equitas Auditorium
RSVP:	communications@abasa.org.za

For more information, click here: https://ufsweb.co/3rzOORh

The prestigious lecture will be delivered by:

Tantaswa Fubu

Tantaswa Fubu was Group Executive: Human Capital and Transformation at Barloworld Limited, an industrial brand management company based in Sandton, South Africa. Fubu’s experience spans 30 years in diverse areas of the economy, including the banking, industrial, automotive, medical scheme, and mining sectors. At Barloworld, she was also instrumental in the integration of newly acquired businesses that performed exceptionally well in their first year; under her leadership, Barloworld was named among the overall Gender Mainstreaming Champions of 2020.

Fubu has worked for KPMG SA, where she was Executive Head: People (HR) and Transformation, and a member of the executive committee. She is a chartered accountant with qualifications in industrial psychology, accounting, banking, and finance.

She has also served as National President of the Association for the Advancement of Black Accountants of Southern Africa (ABASA). In addition, Fubu has previously worked for Standard Bank and Nkonki Inc, and serves as a non-executive director on several boards.

She is the founding CEO of Great Well, as well as a mentor and coach.

Bios of speakers:

Prof Wiseman Nkuhlu

Prof Wiseman Nkuhlu is the former Chancellor of the University of Pretoria and a member of the advisory board of the South African Institute of Chartered Accountants (SAICA).

Prof Nkuhlu served two terms as President of the South African Institute of Chartered Accountants, from April 1998 to April 2000. He is passionately involved with the development of black accountants and is the patron of the Nkuhlu School of Accounting at the University of Fort Hare.

He served as economic adviser to the President of the Republic of South Africa, TM Mbeki, and as chief executive of the secretariat of New Partnership for Africa’s Development (NEPAD) from 2000 to 2005, playing a major role in the elaboration of NEPAD policy framework and in promoting the programme both in Africa and internationally. He regularly participates as a speaker at international conferences on African development issues and corporate governance.

In recognition of his contribution to education, business, and development, Prof Nkuhlu has received a number of awards, including honorary doctorates from the University of the Free State, Stellenbosch University, the University of Cape Town, the University of Pretoria, Nelson Mandela Metropolitan University, the University of the Witwatersrand, and the University of Fort Hare; and merit awards from the National African Federated Chamber of Commerce, the Association for the Advancement of Black Accountants of Southern Africa, and the Black Management Forum. He was also awarded the President of Convocation Medal by the University of Cape Town in June 2004. The medal is awarded to graduates of UCT for outstanding community service.

Linda Maqoma

Linda Maqoma is the national president of ABASA, as well as the founding and chief executive of the Nomatshawe Group. Maqoma holds a BCom Accounting degree and Postgraduate Diploma in Accounting from the University of Fort Hare and has 11 years of experience in the audit space, both in the public and private sectors. She is the deputy chairperson of the Southern African Institute of Government Auditors (SAIGA) Africa and Global Committee, a member of the Black Business Council, National Council and Women's Alliance, Black Management Forum, as well as a member of the Black Business Women's Alliance steering committee.

With an inherent passion for business, people, and development, Maqoma is also an independent non-executive director of the Young African Entrepreneurs Institute, providing advice on the finance and fundraising portfolio. She is a candidate fellow of the fourth class of the Young African Leaders Initiative – South Africa (YALI), an extension of the Aspen Global Leadership Network fellowship. She has served as an audit manager in financial services at KPMG and as a success coach at SAPRO.

Dr Molapo Qhobela

Dr Qhobela holds a PhD in Plant Pathology from the Kansas State University in the United States of America. His career started at Rhodes University in 1991, where he was a lecturer in microbiology and pharmacy, after which he joined the University of Cape Town, before joining the public service sector. His leadership and strategic direction have been sought by several large and complex organisations in the course of his career. From 1998 to 2007, he was Chief Director: Higher Education Policy and Development Support in the Department of Education, from 2007 to 2009 he was Deputy Director General: Higher Education in the same department, and from 2010 to 2011 he was Deputy Director General: Human Capital and Knowledge Systems in the Department of Science and Technology.

Dr Qhobela was appointed Vice-Principal: Institutional Development at the University of South Africa (UNISA) in 2011 and held the position until 2015. He was the Chief Executive Officer of the National Research Foundation (NRF) from 2016 to 2020.
Dr Qhobela has strong governance credentials, having served and led governing boards, among others as the former chairperson of the boards of the Agricultural Research Council, the Global Research Council, and the Committee of Heads of Organisations of Research and Technology (COHORT). He is currently the chairperson of the Tertiary Education and Research Network of South Africa (TENET).

Ayanda Mafuleka

Ayanda Mafuleka was appointed CEO of the Financial and Accounting Services Seta (FASSET) with effect from 1 January 2019. She previously served as the CFO of the state-owned coal mining company, African Exploration Mining and Finance Corporation (AEMFC). Prior to her AEMFC role, she was CFO at the National Credit Regulator. She has worked in finance across a diverse range of departments in government, including Transtel, the National Ports Authority, National Treasury, the Department of Home Affairs, and Johannesburg City Parks and Zoo. She holds a BCom Honours, Postgraduate Diploma in Forensic Auditing, and an LLB from UNISA.

Likeleli Monyamane

Monyamane sought to utilise the platform that her profession provided to serve her community. From her articles days, Monyamane served as a member of the Free State chapter of the Association for the Advancement of Black Accountants of Southern Africa (ABASA), rising through the ranks to become its first female chairperson. She also served as the youngest member of the University of the Free State Council, as well as on its audit and risk and finance committees.

She co-founded the Keep Lesotho Clean Campaign, which aims to solve Lesotho’s waste management challenges. The group hosts monthly clean-up campaigns and is planning to host a waste management conference and business and innovation challenges.

Monyamane is committed to the development of the accounting profession in Lesotho and has partnered with the Lesotho Institute of Accountants to host a number of development initiatives, such as a young accountant development workshop and a student leadership summit.

Monyamane is also a successful businesswoman who runs a professional services company in Lesotho – Inspire Innovation Business Consultants – with a number of leadership achievements, including the Mandela Washington Fellowship. She holds an MBA from the African Leadership University.

News Archive

Inaugural lecture: Prof. Phillipe Burger

2007-11-26

Attending the lecture were, from the left: Prof. Tienie Crous (Dean of the Faculty of Economic and Management Sciences at the UFS), Prof. Phillipe Burger (Departmental Chairperson of the Department of Economics at the UFS), and Prof. Frederick Fourie (Rector and Vice-Chancellor of the UFS).
Photo: Stephen Collet

A summary of an inaugural lecture presented by Prof. Phillipe Burger on the topic: “The ups and downs of the South African Economy: Rough seas or smooth sailing?”

South African business cycle shows reduction in volatility

Better monetary policy and improvements in the financial sector that place less liquidity constraints on individuals is one of the main reasons for the reduction in the volatility of the South African economy. The improvement in access to the financial sector also enables individuals to manage their debt better.

These are some of the findings in an analysis on the volatility of the South African business cycle done by Prof. Philippe Burger, Departmental Chairperson of the University of the Free State’s (UFS) Department of Economics.

Prof. Burger delivered his inaugural lecture last night (22 November 2007) on the Main Campus in Bloemfontein on the topic “The ups and downs of the South African Economy: Rough seas or smooth sailing?”

In his lecture, Prof. Burger emphasised a few key aspects of the South African business cycle and indicated how it changed during the periods 1960-1976, 1976-1994 en 1994-2006.

With the Gross Domestic Product (GDP) as an indicator of the business cycle, the analysis identified the variables that showed the highest correlation with the GDP. During the periods 1976-1994 and 1994-2006, these included durable consumption, manufacturing investment, private sector investment, as well as investment in machinery and non-residential buildings. Other variables that also show a high correlation with the GDP are imports, non-durable consumption, investment in the financial services sector, investment by general government, as well as investment in residential buildings.

Prof. Burger’s analysis also shows that changes in durable consumption, investment in the manufacturing sector, investment in the private sector, as well as investment in non-residential buildings preceded changes in the GDP. If changes in a variable such as durable consumption precede changes in the GDP, it is an indication that durable consumption is one of the drivers of the business cycle. The up or down swing of durable consumption may, in other words, just as well contribute to an up or down swing in the business cycle.

A surprising finding of the analysis is the particularly strong role durable consumption has played in the business cycle since 1994. This finding is especially surprising due to the fact that durable consumption only constitutes about 12% of the total household consumption.

A further surprising finding is the particularly small role exports have been playing since 1960 as a driver of the business cycle. In South Africa it is still generally accepted that exports are one of the most important drivers of the business cycle. It is generally accepted that, should the business cycles of South Africa’s most important trade partners show an upward phase; these partners will purchase more from South Africa. This increase in exports will contribute to the South African economy moving upward. Prof. Burger’s analyses shows, however, that exports have generally never fulfil this role.

Over and above the identification of the drivers of the South African business cycle, Prof. Burger’s analysis also investigated the volatility of the business cycle.

When the periods 1976-1994 and 1994-2006 are compared, the analysis shows that the volatility of the business cycle has reduced since 1994 with more than half. The reduction in volatility can be traced to the reduction in the volatility of household consumption (especially durables and services), as well as a reduction in the volatility of investment in machinery, non-residential buildings and transport equipment. The last three coincide with the general reduction in the volatility of investment in the manufacturing sector. Investment in sectors such as electricity and transport (not to be confused with investment in transport equipment by various sectors) which are strongly dominated by the government, did not contribute to the decrease in volatility.

In his analysis, Prof. Burger supplies reasons for the reduction in volatility. One of the explanations is the reduction in the shocks affecting the economy – especially in the South African context. Another explanation is the application of an improved monetary policy by the South African Reserve Bank since the mid 1990’s. A third explanation is the better access to liquidity and credit since the mid 1990’s, which enables the better management of household finance and the absorption of financial shocks.

A further reason which contributed to the reduction in volatility in countries such as the United States of America’s business cycle is better inventory management. While the volatility of inventory in South Africa has also reduced there is, according to Prof. Burger, little proof that better inventory management contributed to the reduction in volatility of the GDP.

Back

Economic and Management Sciences

Education

Health Sciences

The Humanities

Law

Natural and Agricultural Sciences

Theology and Religion

Open Distance Learning

Business School

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