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01 March 2024 | Story VALENTINO NDABA | Photo SUPPLIED
Prof Geo Quinot and with Ntando Ncamane
Prof Geo Quinot from Stellenbosch University, pictured with Ntando Ncamane, a Lecturer in the UFS Department of Mercantile Law.

The Department of Mercantile Law at the University of the Free State (UFS) recently spearheaded a Legal Education Colloquium, marking the genesis of a groundbreaking book project with the vision of revitalising legal education across South Africa. Attended by luminaries from academia, legal practitioners, and students, the event featured Professor Geo Quinot from Stellenbosch University, a distinguished figure renowned for his profound insights into legal education, as the keynote speaker.

Ntando Ncamane, a Lecturer in Mercantile Law, provided a comprehensive overview of the colloquium’s objectives, outcomes, and future trajectory. "The dynamic evolution of legal frameworks, notably the promulgation of the Constitution, statutes, and landmark cases, has necessitated a reformation in South African legal education,"  Ncamane remarked. He underscored the pivotal role of digital transformation, particularly in the context of the pandemic, and emphasised the joint commitment of regulatory bodies and academic institutions towards fostering an ethos of engaged scholarship. The colloquium served as a platform to dissect and explore transformative trends, inviting stakeholders to deliberate on novel perspectives and navigate emerging challenges in legal education.

Insights from Prof Geo Quinot and eminent experts

Reflecting on the invaluable insights garnered from deliberations, Ncamane highlighted Professor Quinot's keynote address, which advocated for a reimagining of collaborative endeavours, particularly involving students. Discussions spanned an array of topics including innovative methodologies, enhancing assessment frameworks, leveraging digital platforms for education, integrating competition law into curricula, promoting engaged scholarship, nurturing emotional intelligence among students, and addressing complexities within modules such as civil procedure. Stimulating dialogues on decoloniality, decolonisation, and ubuntu ethos also permeated the discourse. 

The forthcoming book, a culmination of the colloquium, will traverse themes encompassing Digital Education, Student Engagement, and Decolonisation. Ncamane elucidated, "Contributors will be aligned with one of the themes based on the relevance of their contributions…A call for papers was issued, eliciting abstract submissions from prospective contributors."

Scholars hailing from diverse academic institutions including the UFS, University of the Witwatersrand, University of Limpopo, University of Fort Hare, North-West University, Varsity College, and Stellenbosch University, have been enlisted for participation. Each chapter will undergo a peer review process, ensuring scholarly rigour and academic excellence. 

Role and impact of the book

Articulating the envisioned role of the book, Ncamane underscored its potential to reshape legal education and curriculum development. He said, "The book offers key approaches that can be adopted by legal scholars to improve teaching methods, ultimately benefiting students, academics, and society at large."

With regards to timelines, Ncamane indicated that the publication is slated for release in late 2024 or early 2025, contingent upon the duration of the blind review process and editorial refinement. The Legal Education Colloquium and its ensuing book project exemplify a concerted endeavour to address the evolving imperatives of legal education, foster scholarly discourse, and contribute meaningfully to the enhancement of legal praxis in South Africa.

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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