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28 June 2024 | Story Carmenita Redcliffe-Paul
Global Citizen Invitation Prof Thuli Madonsela 4 July 2024

The University of the Free State (UFS) and the South African Chamber of Commerce United Kingdom (SACC UK) are pleased to present a Global Citizen Series conversation, South Africa’s Future in Focus: the post-election impact on social justice, service delivery, higher education, and the economy, from the perspective of Prof Thuli Madonsela, Director of the Centre for Social Justice in the Faculty of Law at Stellenbosch University and Professor of Law in the Law Trust Research Chair in Social Justice Studies.

As part of the Global Citizen Webinar Series, Prof Madonsela – a member of the International Anticorruption Advisory Council and Global Justice Leaders – will join UFS Vice-Chancellor and Principal, Prof Francis Petersen, and SACC UK Chairperson, Sharon Constançon, for a conversation that explores what the future holds for social justice, service delivery, higher education, and the economy in South Africa.

After thirty years of democracy, South Africans once again made their mark on 29 May 2024 in one of the most pivotal elections since 1994. Join us in person during the Free State Arts Festival or online as we explore South Africa’s Future in Focus: The post-election impact on social justice, service delivery, higher education, and the economy.

Date: Thursday 4 July 2024
In-person event SA time: 18:00-20:00 SAST, Centenary Complex, UFS Bloemfontein Campus
Webinar SA time: 18:30-19:30 / UK time: 17:30-18:30

The livestream link will be shared with those who RSVP

Enquiries: Tebello Leputla - leputlatb@ufs.ac.za +27 51 401 3966

About Prof Thuli Madontsela

Prof Thuli (Thulisile) Madonsela is the Director of the Centre for Social Justice (CSJ) in the Faculty of Law at Stellenbosch University and Professor of Law in the Law Trust Research Chair in Social Justice Studies. She is the founder of the Thuma Foundation for Democracy Leadership and Literacy and a member of the African Academy of Sciences. She was recently appointed to the UN Scientific Advisory Board and as Chairperson of Cities Alliance. She is a member of the International Anticorruption Advisory Council and Global Justice Leaders.

The former Public Protector of South Africa and full-time Commissioner in the South African Law Reform Commission was one of the 11 technical experts who helped draft the South African Constitution, and is a co-architect of several constitutionally mandated laws, including the Equality Act, Employment Equity Act, and the Promotion of Administrative Justice Act. She has an extensive background in applied constitutional, social justice, and administrative law principles, mainly based on her years of public service and her investigation of improper conduct in state affairs as Public Protector. A regular sought-after keynote speaker, Prof Madonsela has written, taught, presented papers, and published on these matters and ethical leadership, good governance, and gender mainstreaming for decades.

Prof Madonsela helped draft several international human rights instruments at UN, AU, and SADC levels, as well as country reports on such matters. She currently teaches Constitutional Law, Social Justice Law, Administrative Law, and Constitutional Governance and Ethical Leadership. She holds eight honorary law doctorates, in addition to two law degrees, a Harvard Advanced Leadership Certificate, and other postgraduate qualifications.

Named one of Time’s 100 most influential people in the world in 2014, Prof Madonsela’s global recognition includes more than 70 awards, including Rotary’s Paul Harris award, the Commonwealth Lawyers Truth and Justice award, and the global ACFE’s Cressy award. Prof Madonsela is a mother of two, a philanthropist, and an avid mountaineer who has summited Mt Kilimanjaro twice under the #Trek4Mandela-#Caring4Girls anti-period poverty campaign and the Musa Plan for Social Justice, and regularly hikes for the #Action4Inclusion campaign, a quest to end student debt.

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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