Latest News Archive

Please select Category, Year, and then Month to display items
Previous Archive
05 August 2024 | Story Precious Shamase | Photo Yonela Vimba
commuter lounge Qwaqwa Campus
The new commuter lounge is designed to provide off-campus students with a comfortable and conducive environment for studying, socialising, and relaxation.

The University of the Free State (UFS) Qwaqwa Campus recently celebrated a significant milestone with the preliminary opening of its new commuter lounge. This dedicated space is designed to provide off-campus students with a comfortable and conducive environment for study, socialising, and relaxation.

A diverse crowd gathered to witness the historic event, including university staff and students from the off-campus community.

In his opening remarks, Vice-Principal: Support Services, Teboho Manchu, expressed his enthusiasm for the project. He highlighted the challenges previously faced by off-campus students who lacked adequate study spaces on campus. The new commuter lounge addresses this issue by offering a welcoming environment where students can connect, collaborate, and engage in intellectual discourse.

Quintin Koetaan, Senior Director: Housing and Residence Affairs, shared insights into the journey of bringing the lounge to fruition. He emphasised the collaborative efforts of various stakeholders and expressed gratitude to Coke for its generous sponsorship through the Alumni Office. The lounge also features a laundry facility, a valuable addition for students residing off campus. “Sitting here today really gives me goosebumps, because it is a dream come true for quite a number of people. This student lounge reflects an identity of what it is to be a Kovsie. It reflects us as the university, which is underpinned by the principles of diversity and accessibility. We want to give every one of our students access to a facility they can feel proud of, a facility where intellectual engagement can happen outside of class. This is a dream in terms of Vision 130, which demands of us to create these kinds of spaces that allow for positive interaction to encourage academic success,” expounded Koetaan.

A member of the Student Representative Council (SRC), Potela Zimvo, expressed the SRC’s appreciation for the new facility. He emphasised that the commuter lounge symbolises the university's commitment to inclusivity and support for all students, regardless of their residence status. The lounge is expected to foster a strong sense of community among commuter students and provide a much-needed space for social interaction and academic engagement. “To the university and campus management, thank you for recognising this initiative and providing the necessary resources. We hope that this place will become a central hub for our commuter students and that it will establish a sense of belonging for them. We appreciate the fact that this commuter lounge is equipped with laundry facilities, which will be helpful to our commuter students amid the water and electricity crisis that the Qwaqwa community faces,” said Zimvo.

The official opening ceremony of the commuter lounge is scheduled for later in the year, when it will be officially opened by the Vice-Chancellor and Principal of the University of the Free State, Prof Francis Petersen. However, the university has decided to make the facility available to students immediately to allow them to benefit from the amenities.

This new commuter lounge is a testament to the university's dedication to creating an inclusive and supportive campus environment for all students. It is a space where students can thrive academically and socially, contributing to their overall university experience.

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


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