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26 February 2025 | Story Martinette Brits | Photo Supplied
Prof Maxim Finkelstein, A1-rated researcher from the University of the Free State, has been selected as the 2024 - 2026 Ewha Global Fellow by Ewha Womans University.

An esteemed researcher from the University of the Free State (UFS), Prof Maxim Finkelstein, has been named a 2024 - 2026 Ewha Global Fellow (EGF) by Ewha Womans University in South Korea.

Prof Finkelstein, an A1-rated researcher from the Department of Mathematical Statistics and Actuarial Science, received this honour in recognition of his outstanding collaboration with Prof Ji Hwan Cha from Ewha’s Department of Statistics. Prof Cha nominated him as a leading expert in his field, highlighting their long-standing partnership and significant contributions to mathematical sciences.

According to Hyang-Sook Lee, President of the Ewha Womans University, the EGF programme “encourages distinguished scholars from all over the world to actively collaborate in research and education with Ewha faculty members.”

 

The genesis of a unique collaboration

Prof Finkelstein has collaborated extensively with researchers across Europe and the United States but his partnership with Prof Cha is particularly notable. “I started working at the UFS as a Professor in 1998 when he had just obtained his PhD,” recalls Prof Finkelstein.

At the time, Prof Finkelstein was already an established researcher, while Prof Cha was in the early stages. “His letter to me about one of my articles was sent to me by regular mail to my previous working address in Saint Petersburg, Russia, and did not reach me. We eventually connected around 2006, and our collaboration gradually took shape,” he explains.

Over the years, their partnership evolved into a balanced and mutually enriching research relationship. Their joint efforts have resulted in over 120 published papers and two books, setting new standards in the Mathematical Theory of Reliability and its applications. This collaboration has significantly influenced both their careers and contributed to Prof Finkelstein’s recognition with South Africa’s highest research accolades, including an NRF A1 rating in "Mathematical Sciences" in 2021, following his A2 rating in 2015.

 

A breakthrough in stochastic modelling

One of the major achievements of Prof Finkelstein's collaboration with Ewha has been their pioneering work in stochastic modelling. Their research led to the development of the Generalised Polya Process, a novel model for understanding natural and industrial point events - such as failures in electricity generation, lightning strikes, and hurricanes. By incorporating the ‘history’ of previous events, this model offers a more precise stochastic description of real-world phenomena.

The results of their research have been widely published and have paved the way for further exploration into more complex stochastic processes. Some of their key findings were summarised in the 2018 Springer book Point Processes for Reliability Analysis.

 

Looking ahead: Future collaboration and continued innovation

Despite being in the later years of his career, Prof Finkelstein remains deeply engaged in research and committed to his partnership with Ewha. Due to the challenges posed by the COVID-19 pandemic, his visits to Ewha were limited, but plans are now in place for future visits. During these visits, he will deliver lectures to students and collaborate with faculty members.

For Prof Finkelstein, continuing his nearly two-decade-long collaboration with Prof Cha remains a vital and exciting part of his academic journey. 

News Archive

Alumni in the financial sector: money talks!
2016-12-26

Description: Marina Marinkov Tags: Marina Marinkov 

Marina Marinkov, Economist at the
International Monetary

Description: Evangelina Nailenge Tags: Evangelina Nailenge

Evangelina Nailenge, General
Manager: Investment Institutions at
Namibia Financial Supervisory Authority.

Description: Vuyelwa Vumendlini Tags: Vuyelwa Vumendlini

Vuyelwa Vumendlini, Chief Director:
Global and Emerging Markets, National
Treasury.

Description: Meshach Aziakpono Tags: Meshach Aziakpono

Prof Meshach Azaikpono, Professor of
Development Finance, University of
Stellenbosch.

Description: Anton Nicolaisen Tags: Anton Nicolaisen

Anton Nicolaisen, Provincial Head for
the Free State Province, Standard Bank.

Where are they now?

On good days, most of us battle to set our personal finances straight,  let alone be responsible for a large enterprise. So we are extremely proud of the well-trained and talented Kovsie alumni who fill prominent shoes. Operating mostly away from the public eye, they make decisions to improve the economy on various levels. It is heartening to know that the UFS contributes to financial matters and training all across the globe.  

Marina Marinkov


Courses: BCom (Economics), BCom Hons (Money and Banking), and MCom (Economics) (2000-2004)
Current position:
Economist at the International Monetary Fund
Biggest career obstacle: I once worked for an organisation with poor leadership which negatively affected employee morale and job performance. It still proved to be a great learning experience, though. Bad bosses can teach us powerful lessons.
Best career advice:
Stop doubting yourself, work hard and be humble.
Fondest memory of UFS: Time spent on campus with my classmates, whether studying for finals at the library or just catching up between classes. The UFS was also my first employer and I have plenty of wonderful memories with colleagues at the Department of Economics.


Evangelina Nailenge

Courses: BCom Hons (Money and Banking) MCom (Money and Banking) (2005-2006)
Current position: General Manager: Investment Institutions at Namibia Financial Supervisory Authority
Biggest career obstacle: At times, being one of the youngest requires you to work twice as hard to earn your voice and cue at the decision-making table.
Best career advice: “Whatever your hand finds to do, do it with all your might, for in the realm of the dead, where you are going, there is neither working nor planning nor knowledge nor wisdom.” Eccl. 9:10
Fondest memory of UFS: Walking around the campus. Its well-manicured lawns and gardens had a calming effect in the midst of academic pressures. I will forever treasure the moment I first saw my name engraved in the walls of FGG, as the best postgraduate student for both 2005 and 2006.

Vuyelwa Vumendlini

Course: BCom Hons (Economics) (1996-1999)
Current position: Chief Director: Global and Emerging Markets, National Treasury
Biggest career obstacle: Doubting your own capabilities.
Best career advice: The sky is the limit, go for it all out, but most importantly, do something that you are passionate about it. It makes your work much more meaningful.
Fondest memory of UFS: Working as a tutor in my honours year and being able to help other students. I also enjoyed hanging out at Mooimeisiesfontein on Saturday afternoons.


Prof Meshach Azaikpono

Course: PhD in Economics (2004-2008) “The Depth of Financial Integration and its Effects on Financial Development and Economic Performance of the Southern African Customs Union Countries”. He received the Founders’ Medal for the best PhD dissertation in Economics in South Africa.
Current position: Professor of Development Finance, University of Stellenbosch.
Biggest career obstacle: I was fortunate to never have experienced a major career obstacle.
Best career advice: Pursue and focus on your passion.
Fondest memory of UFS: Being a part-time student, I had very limited interaction with the broader university environment. But I really enjoyed the support provided by the library staff and the staff from the Department of Economics. It was always like coming to see friends.


Anton Nicolaisen

Course: BEcon (1986-1989), MBA (1999-2003)
Current position: Provincial Head for the Free State Province, Standard Bank
Biggest career obstacle: Earlier in my career, I fell into a comfort zone and had to acquire the willingness to change.
Best career advice: Continuously challenge yourself to be the best possible person you can be, and run your own race. Learn through difficult times, and be open to change.
Fondest memory of UFS: Although I was not the biggest academic, I enjoyed interacting with lecturers … their stories and unique characteristics. Back then, I interpreted some as funny or awkward, only later did I realise how much I had learned from them. And of course, I’ll always remember the team spirit at athletics meetings and intervarsity.




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