Search results for: H. van Rensburg

Authors: Daniel Mokatsanyane, Johnny Jansen Van Rensburg

Abstract:

This paper is a concise introduction of the risk management on the water derivatives market. Water, a new commodity in the market, is one of the most important commodity on earth. As important to life and planet as crops, metals, and energy, none of them matters without water. This paper presents a brief overview of water as a tradable commodity via a new first of its kind futures contract on the Nasdaq Veles California Water Index (NQH2O) derivative instrument, TheGeneralised Autoregressive Conditional Heteroscedasticity (GARCH) statistical model will be the used to measure the water price volatility of the instrument and its performance since it’s been traded. describe the main products and illustrate their usage in risk management and also discuss key challenges with modeling and valuation of water as a traded commodity and finally discuss how water derivatives may be taken as an alternative asset investment class.

Keywords: water derivatives, commodity market, nasdaq veles california water Index (NQH2O, water price, risk management

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Authors: H. van Rensburg, B. Adcock, B. Al Mansouri

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This paper discusses the impact of pedagogical and learning differences on Arabic international students’ (AIS) learning when they come to study in Australia. It describes the difference in teaching and learning methods between the students’ home countries in the Arabic world and Australia. There are many research papers that discuss the general experiences of international students in the western learning systems, including Australia. However, there is little research conducted specifically about AIS learning in Australia. Therefore, the data was collected through in-depth, semi-structured interviews with AIS who are learning at an Australian regional university in Queensland. For that reason, this paper contributes to fill a gap by reporting on the learning experiences of AIS in Australia and, more specifically, on the AIS’ pedagogical experiences. Not only discussing the learning experiences of AIS, but also discussing the cultural adaptation using the Oberg’s cultural adaptation model. This paper suggests some learning strategies that may benefit AIS and academic lecturers when teaching students from a completely different culture and language.

Keywords: arabic international students, cultural adaption, learning differences, learning systems

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Authors: Henriette van Rensburg, Betty Adcock

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Concern about the lack of knowledge of quality teaching and teacher retention in rural and remote areas of Australia, has caused academics to improve pre-service teachers’ understanding of this problem. The participants in this study were forty students enrolled in an undergraduate educational course (EDO3341 Teaching in rural and remote communities) at the University of Southern Queensland in Toowoomba in 2012. This study involved an innovative case-based teaching approach in order to broaden their generally under-informed understanding of teaching in a rural and remote area. Three themes have been identified through analysing students’ critical reflections: learning expertise, case-based learning support and authentic learning. The outcomes identified the changes in pre-service teachers’ understanding after they have deepened their knowledge of the realities of teaching in rural and remote areas.

Keywords: rural and remote education, case based teaching, innovative education approach, higher education

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Authors: Maritz Lourens Van Rensburg, Chantel Niebuhr

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Utilizing all available renewable energy sources is an ever-growing necessity, this includes a newfound interest into hydrokinetic energy systems, which open the door to installations where conventional hydropower shows no potential. Optimization and obtaining high efficiencies are key in these installations. In this study a vertical axis Darrieus hydrokinetic turbine is designed and constructed to address certain drawbacks experience by axial flow horizontal axis turbines in an irrigation channel. Many horizontal axis turbines have been well developed and optimized to have high efficiencies but depending on the conditions experienced in an open channel, the performance of these turbines may be adversely affected. The study analyses how the designed vertical axis turbine addresses the problems experienced by a horizontal axis turbine while still achieving a satisfactory efficiency. To be able to optimize the vertical axis turbine, a computational fluid dynamics model was validated to the experimental results obtained from the power generated from a test turbine installation operating at various rotational speeds. It was found that an accurate validated model can be obtained through validation of generated power output.

Keywords: hydrokinetic, Darrieus, computational fluid dynamics, vertical axis turbine

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Authors: B. Adcock, H. van Rensburg

Abstract:

Education is ever-changing to keep up with innovative technological development and the rapid acceleration of globalisation. This chapter introduces the historical development and transformation of teaching in distance education from correspondence to on-line learning in Queensland universities. It furthermore investigates changes to the delivery models of distance education that have impacted on teaching at tertiary level in Queensland, and reflects on the social changes that have taken place during the past 100 years. This includes an analysis of the following five different periods in time: Foundation period (1911-1919) including World War I; 1920-1939 including the Great Depression; 1940-1970s, including World War II and the post war reconstruction; and the current technological era (1980s to present). In Queensland, the concept of distance education was begun by the University of Queensland (UQ) in 1911, when it began offering extension courses. The introduction of modern technology, in the form of electronic delivery, dramatically changed tertiary distance education due to political initiatives. The inclusion of electronic delivery in education signifies change at many levels, including policy, pedagogy, curriculum and governance. Changes in delivery not only affect the way study materials are delivered, but also the way courses are be taught and adjustments made by academics to their teaching methods.

Keywords: distance education, innovative technological development, on line education, tertiary education

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Authors: M. Linda Phooko, Phesheya E. Dlamini, Vusumuzi E. Mbanjwa, Rhandu Chauke

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The decline of yields as a consequence of miss-informed land-use decisions poses a threat to sustainable agriculture in South Africa. The non-uniform growth pattern of wheat crop and the yields below expectations has been one of the main concerns for Timatjatji community farmers. This study was then conducted to characterize, classify, and evaluate soils of the farm for sustainable land use planning. A detailed free survey guided by surface features was conducted on a 25 ha farm to check soil variation. It was revealed that Sepane (25%), Bonheim (21%), Rensburg (18%), Katspruit (15%), Arcadia (12%) and Dundee (9%) were the dominant soil forms found across the farm. Field soil description was done to determine morphological characteristics of the soils which were matched with slope percentage and climate to assess the potential of the soils. The land capability results showed that soils were generally shallow due to high clay content in the B horizon. When the climate of the area was factored in (i.e. land potential), it further revealed that the area has low cropping potential due to heat, moisture stress and shallow soils. This implies that the farm is not suitable for annual cropping but can be highly suitable for planted pastures.

Keywords: characterization, land capability, land evaluation, land potential

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Authors: Boitumelo Ditshwane, Zelda Janse van Rensburg, Wanda Jacobs,

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Health literacy is defined as competencies and skills that individuals need to find, comprehend, evaluate, and use to make knowledgeable choices to improve their health and well-being. Low health literacy has been found to affect people’s ability to take care of their own health. Incomprehension of health education and health care instructions due to low health literacy is often due to information given at a level that is above the patient’s level of understanding. The study aimed to test the health literacy levels of South African PHC patients using a previously developed health literacy assessment tool. Determining health literacy levels may assist PHC nurses in providing health education and health care instructions to the patient on the patient’s level of understanding and, therefore, ensuring positive health outcomes for the patient. A health literacy assessment tool, translated into ten official South African languages, was used to quantitatively determine the health literacy levels of 400 PHC patients in five clinics in Gauteng, South Africa. Patients’ health literacy levels were tested in English, and nine other official languages spoken in South Africa and were compared. The results revealed that patients understand information better when given in their preferred language. Giving health education in a language and level that is better understood by the patient may lead to better health outcomes and prevent adverse health. Patients may better understand instructions provided, be more likely to follow the correct route of medication, honor appointments, comply with medication, and thus have better treatment outcomes.

Keywords: health literacy, primary health care, South Africa, patients

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Authors: Zelda Jansen Van Rensburg

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Purpose: This study investigates the perceived disparities between Quantity Surveying and Commercial Management in the construction industry, questioning if these differences are substantive or merely semantic. It aims to challenge the conventional notion of Commercial Managers’ superiority by critically evaluating QS and CM roles, exploring CM integration possibilities, examining qualifications for aspiring Commercial Managers, assessing regulatory frameworks, and considering terminology redefinition for global QS professional enhancement. Design: Utilizing mixed methods like literature reviews, surveys, interviews, and document analyses, this research examines the QS-CM relationship. Insights from industry professionals, academics, and regulatory bodies inform the investigation into changing QS roles. Findings: Empirical data highlight evolving roles, showcasing areas of convergence and divergence between QSs and CM. Potential CM integration into QS practice and qualifications for aspiring Commercial Managers are identified. Limitations/Implications: Limitations include potential bias in self-reported data and findings. Nevertheless, the research informs future practices and educational approaches in QS and CM, reflecting the changing roles and responsibilities of Quantity Surveyors. Practical Implications: Findings inform industry practitioners, educators, and regulators, stressing the need to adapt to changing QS roles and integrate CM principles where applicable. Value to the Conference Theme: Aligned with ‘Evolving roles and responsibilities of Quantity Surveyors,’ this research offers insights crucial for understanding the changing dynamics within the QS profession and informs strategies to navigate these shifts effectively.

Keywords: quantity surveying, commercial management, cost engineering, quantity survey

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Authors: Daniel Mokatsanyane, Johnny Jansen Van Rensburg

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The integral role oil-crushing companies play in sunflower oil production is often overlooked to offer high-quality oil to refineries and end consumers. Sunflower oil crushing companies in South Africa are exposed to price fluctuations resulting from the local and international markets. Hedging instruments enable these companies to hedge themselves against unexpected prices spikes and to ensure sustained profitability. A crushing company is a necessary middleman, and as such, these companies have exposure to the purchasing and selling sides of sunflower. Sunflower oil crushing companies purchase sunflower seeds from farmers or agricultural companies that provide storage facilities. The purchasing price is determined by the supply and demand of sunflower seed, both national and international. When the price of sunflower seeds in South Africa is high but still below import parity, then the crush margins realised by these companies are reduced or even negative at times. There are three main products made by sunflower oil crushing companies, oil, meal, and shells. Profits are realised from selling three products, namely, sunflower oil, meal and shells. However, when selling sunflower oil to refineries, sunflower oil crushing companies needs to hedge themselves against a reduction in vegetable oil prices. Hedging oil prices is often done via futures and is subject to specific volume commitments before a hedge position can be taken in. Furthermore, South African oil-crushing companies hedge sunflower oil with international, Over-the-counter contracts as South Africa is a price taker of sunflower oil and not a price maker. As such, South Africa provides a fraction of the world’s sunflower oil supply and, therefore, has minimal influence on price changes. The advantage of hedging using futures ensures that the sunflower crushing company will know the profits they will realise, but the downside is that they can no longer benefit from a price increase. Alternative hedging instruments like options might pose a solution to the opportunity cost does not go missing and that profit margins are locked in at the best possible prices for the oil crushing company. This paper aims to investigate the possibility of employing options alongside futures to simulate different scenarios to determine if options can bridge the opportunity cost gap.

Keywords: derivatives, hedging, price risk, sunflower, sunflower oil, South Africa

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Authors: Asfaw Gezae Daful, Mohsen Alimandagari, Kathleen Haigh, Somayeh Farzad, Eugene Van Rensburg, Johann F. Görgens

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The sugar industry has to 're-invent' itself to ensure long-term economic survival and opportunities for job creation and enhanced community-level impacts, given increasing pressure from fluctuating and low global sugar prices, increasing energy prices and sustainability demands. We propose biorefineries for re-vitalisation of the sugar industry using low value lignocellulosic biomass (sugarcane bagasse, leaves, and tops) annexed to existing sugar mills, producing a spectrum of high value platform chemicals along with biofuel, bioenergy, and electricity. Opportunity is presented for greener products, to mitigate climate change and overcome economic challenges. Xylose from labile hemicellulose remains largely underutilized and the conversion to value-add products a major challenge. Insight is required on pretreatment and/or extraction to optimize production of cellulosic ethanol together with lactic acid, furfural or biopolymers from sugarcane bagasse, leaves, and tops. Experimental conditions for alkaline and pressurized hot water extraction dilute acid and steam explosion pretreatment of sugarcane bagasse and harvest residues were investigated to serve as a basis for developing various process scenarios under a sugarcane biorefinery scheme. Dilute acid and steam explosion pretreatment were optimized for maximum hemicellulose recovery, combined sugar yield and solids digestibility. An optimal range of conditions for alkaline and liquid hot water extraction of hemicellulosic biopolymers, as well as conditions for acceptable enzymatic digestibility of the solid residue, after such extraction was established. Using data from the above, a series of energy efficient biorefinery scenarios are under development and modeled using Aspen Plus® software, to simulate potential factories to better understand the biorefinery processes and estimate the CAPEX and OPEX, environmental impacts, and overall viability. Rigorous and detailed sustainability assessment methodology was formulated to address all pillars of sustainability. This work is ongoing and to date, models have been developed for some of the processes which can ultimately be combined into biorefinery scenarios. This will allow systematic comparison of a series of biorefinery scenarios to assess the potential to reduce negative impacts on and maximize the benefits of social, economic, and environmental factors on a lifecycle basis.

Keywords: biomass, biorefinery, green economy, sustainability

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Authors: D. Mokatsanyane, J. Jansen Van Rensburg

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This paper analyses the influence and impact of COVID-19 on major agricultural commodity prices in South Africa. According to a World Bank report, the agricultural sector in South Africa has been unable to reduce the domestic food crisis that has been occurring over the past years, hence the increased rate of poverty, which is currently at 55.5 percent as of April 2020. Despite the significance of this sector, empirical findings concluded that the agricultural sector now accounts for 1.88 percent of South Africa's gross domestic product (GDP). Suggesting that the agricultural sector's contribution to the economy has diminished. Despite the low contribution to GDP, this primary sector continues to play an essential role in the economy. Over the past years, multiple factors have contributed to the soaring commodities prices, namely, climate shocks, biofuel demand, demand and supply shocks, the exchange rate, speculation in commodity derivative markets, trade restrictions, and economic growth. The COVID-19 outbursts have currently disturbed the supply and demand of staple crops. To address the disruption, the government has exempted the agricultural sector from closure and restrictions on movement. The spread of COVID-19 has caused turmoil all around the world, but mostly in developing countries. According to Statistic South Africa, South Africa's economy decreased by seven percent in 2020. Consequently, this has arguably made the agricultural sector the most affected sector since slumped economic growth negatively impacts food security, trade, farm livelihood, and greenhouse gas emissions. South Africa is sensitive to the fruitfulness of global food chains. Restrictions in trade, reinforced sanitary control systems, and border controls have influenced food availability and prices internationally. The main objective of this study is to evaluate the behavior of agricultural commodity prices pre-and during-COVID to determine the impact of volatility drivers on these crops. Historical secondary data of spot prices for the top five major commodities, namely white maize, yellow maize, wheat, soybeans, and sunflower seeds, are analysed from 01 January 2017 to 1 September 2021. The timeframe was chosen to capture price fluctuations between pre-COVID-19 (01 January 2017 to 23 March 2020) and during-COVID-19 (24 March 2020 to 01 September 2021). The Generalised Autoregressive Conditional Heteroscedasticity (GARCH) statistical model will be used to measure the influence of price fluctuations. The results reveal that the commodity market has been experiencing volatility at different points. Extremely high volatility is represented during the first quarter of 2020. During this period, there was high uncertainty, and grain prices were very volatile. Despite the influence of COVID-19 on agricultural prices, the demand for these commodities is still existing and decent. During COVID-19, analysis indicates that prices were low and less volatile during the pandemic. The prices and returns of these commodities were low during COVID-19 because of the government's actions to respond to the virus's spread, which collapsed the market demand for food commodities.

Keywords: commodities market, commodity prices, generalised autoregressive conditional heteroscedasticity (GARCH), Price volatility, SAFEX

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