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Rands & $ense 2012

Trevor Manuel Message from Minister in the Presidency

Khanyi Dhlomo

Interviews

Corne van Walbeek Economics HOD

Destiny Magazine Editor & Powerhouse Woman

Paul Maughan CA (SA)

Student Travels & Societies

the official magazine of the commerce students’ council1


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Contents 4 5

Editor’s address Dean’s address

Executives’ Reports

6 CSC 2012:Engage, Empower Serve 7 Class representatives 8 Outreach portfolio 9 Dean’s Open Forum 10 CSC collage

Career Inspiration 12 13 14 16 18

Entrepreneurship Dress to impress – Claire Mawisa Powerhouse woman – Khanyi Dhlomo Interview: Paul Maughan CA(SA) Interview: Corne van Walbeek Head of Economics UCT

Feedback and comments can be sent to the editor:

sethu.tshabalala@gmail.com Editor-in-chief

Sethu Tshabalala Layout & Design

Nic Botha Sub-editors

Mahali Khabo Lauren Reeves Alex Swanepoel Noxolo Mlambo

Michelle Masiyanise Mulalo Liphosa Christine Immenga Contributors

Sibusiso Mbonambi Claire Mawisa Khanyi Dhlomo Craig Lai King Timothy Taylor

Student life

22 KPMG International Case Competition 24 Google Student Ambassador Summit 25 Internships 26 SRC: Challenges of student leadership 27 Swifter, Higher, Stronger 28 Social media: The lecturer’s stance 29 Or you can try re-invent the wheel 30 14 things we wish we had known

Societies 31 32 33 34 36 37 38 39

UCT Consulting Club InvestSoc Pioneering Young Women Conference 2012 SIFE BMF Funda Initiative SHAWCO Message from Minister Trevor

Kabelo Pule Mpho Mutloane Jacques Rousseau Danilo Acquisto Adrian Cox Sibusiso Fakude Lynette van Wyk Thandeka Xaba Thembeka Setlogelo Stephanie Demetriou

Danielle Valentine Gilbert Anyetei Disclaimer

Any opinions expressed are those of the authors and do not represent those of Rands & Sense, the magazine sponsors or UCT.

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Editor’s address

to graduation and beyond

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nce upon a Wednesday evening, I sat at Cocoa Wah Wah. Celebrating a project hand in, I was there to enjoy the delectable Cocoa Wah Wah Cookie [sigh]. I digress... this article is not about cookies. Having mapped out the Business Report, my attention was caught by the title “Unemployment, skills lack gives bosses insomnia.” The article expressed how unemployment is a threat to competitiveness, which companies seek most in pear-shaped economic times. An interesting point was raised by Gaba Tabane, a director at Deloitte. He was quoted saying “The reason there are so many unemployed graduates is that they do not possess skills that companies need to enhance their competitiveness.” It was disappointing that Mr Tabane didn’t elaborate further as to what exactly these skills are. As a student, what do you, think? I think the answer is: experience. It is in the manner in which we choose to supplement our theoretical knowledge with experience, which enables us to become competitive, well-grounded graduates. This is what Rands & Sense is all about: the experiences and knowledge Commerce students have gained from diverse extra-curricular activities as well as the pragmatic leadership positions offered within and outside of UCT. As you page through this magazine I hope at least one story appeals to the change agent that lies within you. It is my hope that this magazine will be the start of something new,

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as it was for me when I became Media and Publications Officer & Editor. Perhaps you too may join a society, apply for a competition or start a business today. With my handover impending, this is also a tribute to the lecturers, role models and most importantly, the students I have met who have contributed to my compounding growth. I think we are at the best place in history, democracy and our lives to take advantage of the uncertainties that face our generation: the transforming economy, technology and sustainability, to name a few. All the opportunity lies within our backyard. We can start preparing for the challenges that accompany success on a smaller scale at university. By extending ourselves beyond lecture theatres, there is room for interpersonal growth, priceless experience and innovation. Hopefully these are some of the skills Gaba Tabane is referring to. Let your time at UCT be the beginning of a life long journey of discovery that extends not only your career and knowledge, but your imagination as well. P.S. Thank you to all the contributors, editors, designers, the CSC team and all the friends who supported this issue as well Dean Don Ross, the UCT Publication Fund, and our advertisers (Careers Services, KPMG and Pentravel), without whom this magazine would not be published. Yours sincerely, Sethu Tshabalala Editor-in-Chief Rands & Sense 2012


Dean’s address

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’m pleased to introduce the 2012 edition of Rands & Sense, the annual publication of SA’s next generation of corporate and economic policy leaders. Readers from the business community should be particularly interested in what UCT’s current Commerce students think, because they represent a new sensibility coming soon to offices: people committed to business success, but whose entire period of preparation has occurred since the end of global economic sunshine in 200809. They’re less likely than their elders to think that slow growth and uncertain wealth maintenance are just temporary blips before everything rushes forward again. This might make them cannier creators of opportunity as they rise through corporate ranks. I’m asked to reflect on developments in the Commerce Faculty over the past year. There have been major structural changes. The beginning of 2012 saw the creation of the College of Accounting and the Department of Finance and Tax, and the launch of the Research Unit in Behavioral Economics and Neuro-economics. The first will concentrate on its responsibility to maintain our national leadership in the training of CAs. The latter two units will be hothouses of applied, business-relevant research using new technologies. The Faculty is now focused on initiatives to expand its level of involvement with the business community. The 3 major initiatives being: 1. Creation, with private sector sponsors, of an African Institute for Financial Markets and Risk Management, to bring advanced knowledge of investment banking and micro-insur-

ance to post graduate courses; 2. Co-sponsorship, with the South African Sustainable Development Initiative (SASDI), of township crèches that deliver early childhood development programmes 3. Partnership with a local company, Get Smarter, to expand online education maximize the use of new media In the wider world, we all sense profound change in the air as assumptions that until re-

This might make them cannier creators of opportunity cently seemed hardly questionable – that the Euro is built to last as the world’s second reserve currency, that no country outside Latin America defaults on debt, that investment in well-diversified equities is a sure way to build wealth – waver and falter. Anyone who claims to know where the world economy will be in five years time crosses the line from self-confidence to rashness. Deep change welcomes the perspectives of the young, whose minds aren’t trapped by obsolete patterns. One can hardly wait to see where the Commerce students of 2012 will be then, and what they’ll be thinking. If we want excitement and curiosity to dominate fear and anxiety, looking at the world through their eyes is the way to go. Professor Don Ross Dean of the Faculty of Commerce

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CSC Chairperson Noxolo Mlambo

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he words have been said many times: “Engage. Empower. Serve...every commerce student�. This year, the Commerce Students Council (CSC) has tried to bring them to life by embodying this vision in all CSC events; and trying to lay a solid foundation for future councils to build on. In recent times faculty councils have sought to place less emphasis on the prestige of student leadership and more on leadership’s role of service. The CSC has also been party to this view; placing 11 dedicated individuals with the task and vision of leaving a legacy of service. From robust debates during strategic planning meetings that would unearth great the ideas we have implemented; this team has constantly been thinking about how to be more effective, how to improve engagement with a diverse group of commerce students and how best to empowering such students. With each event we have done our best to ensure that we have been effective in achieving the vision and mission we have set for our team this year. The class representative system has been one of the salient points in charging the spirit of leadership amongst our peers. The First Year Experience that the university thought

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of enforcing this year has helped to make the already existing mentorship program better focused in ensuring that first years have not been forgotten in the system. Most of our time has been occupied by consulting students about their views regarding UCT Commerce policy, meeting with various heads of

From robust debates during strategic planning meetings that would unearth great ideas we have implemented department to discuss student concerns and supporting our various sibling societies or offices on campus. All the while we have done our best to faithfully represent the views of commerce students in such forums. Although much is still to be done in satisfying the needs of all our commerce peers, we are hopeful that more will be done in the years to come by our successors. There is always room for growth. We also look forward to working with the faculty to reaching greater heights.


Class representatives Simba Munyawma & Tebogo Moloko

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ur experience in the Commerce Students Council (CSC) has been nothing short of amazing. The portfolio posed a number of interesting challenges which proved to be an exhilarating experience.

Class representatives - Simba

In my capacity as the Academic Chair for Class Representatives, I was tasked with the job of running the class representative programme in a way that improved that lecture experience. Often this is made difficult by student apathy. This year a new structure was introduced: the Class Representatives Operations Model. This elected heads for each department’s class reps which has since resulted in better channels of communication between class reps and the CSC. Tessa Minter (Deputy Dean) explained that class reps are vital in the student governance model. Their interactions with their classes on a day to day basis provide paramount information about the challenges that students face, at the grass roots level. It is important that students and class reps make the most of this resource in order to go forward.

Mentorship programme - Tebogo

The mission of the 2012 mentorship programme was to build a relationship between a senior student mentor and a first year. The purpose of this relationship was for the first year to obtain valuable guidance and to holistically develop first years.

The programme began with 30 mentors who voluntarily gave of their time and effort to mentor the first years. By the beginning of the second term there were 60 mentees. The programme had a self-development plan: mentees set their goals and the mentors helped the mentees set realistic plans to achieve their goals and monitor the steps the mentee was taking to reach the goals.

In closing

The success and structure of the mentormentee relationship was monitored by the Senior Mentors and the Academic Chair. This occurred through quarterly meetings to address issues that needed attention as well as mentor evaluations and progress reports. The long run vision is such that every first year in the Commerce Faculty should have a mentor throughout the year. As the CSC we would like the programme to improve first year academic performance and to see more involvement in the university extra-curricular initiatives by the first years. We are incredulously grateful for their support throughout the year. We’d like to thank each mentor and class rep as well as Christine Immenga (Department of Student Affairs) and Fadzai Chitiyo (SRC Chair of Undergraduate Academics), who played a pivotal role in assisting and coordinating the Academic portfolio. We look forward to seeing the great work the next Academic Chairs will bring to the Commerce Student council.

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Outreach portfolio

Lungile Makhanya

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he Outreach portfolio’s mission for the year is to empower students through community upliftment ventures that give them the opportunity to gain relevant business and career related skills. We started the year off by hosting the annual CANSA Shave-a-Thon, in collaboration with Kopano House. This project saw over R11 000 being raised for CANSA. On the day, Jammie Plaza was buzzing with eager students and staff members who wanted to show their solidarity in the fight against cancer by spray painting or shaving their heads. Overall the event was a great success and a lot of fun was had by all. In the second term, the portfolio sought to participate in initiatives that were more in line with the mission statement set out at the

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beginning of the year. This was done by collaborating with The Clothing Bank Initiative, which is an organization that seeks to support local women with their businesses. The Clothing Bank coaches the budding entrepreneurs on how to manage their businesses. This is done by educating them about the basics of bookkeeping and how to cultivate business success. There was an overwhelming response from the students who were interested in participating in this initiative. Commerce Students have willingly and eagerly taken part in Outreach projects thus far which shows that even though we may have money our minds, and numbers on our calculators; our hearts are still in the right place as we continue to support community outreach programmes.


Dean’s Open Forum Shannon Franks

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he 9th of May marked the beginning of a series of Dean’s Open Forum events hosted by the Commerce Students’ Council (2012). Some of our esteemed guests included Prof. Don Ross (Dean) Tessa Minter CA(SA) (Deputy Dean), Dr June Pym (Educational Development Unit); and Prof. Corne van Walbeek (HOD School of Economics); Alison Meadows (Management Studies); Mark Graeme CA(SA) (HOD College of Accounting) and Dr Kosheek Sewchurran (Information systems) as well as many other senior members of staff. The topics discussed, ranged from queries surrounding study leave, winter term, exam timetable changes, to issues surrounding the call towards a “greener” faculty. One of the most sensitive and major issues discussed was the termination of supplementary and Entrance Without Acceptance (EWA) examinations. The main issue of EWAs was documented and posted as an announcement on the Commerce Vula tab. With regard to complaints about exam timetables, the Dean explained

that it was not always within in management’s power to influence changes to suit our preferences as the timetable is not entirely managed by the faculty. Although many of these questions were answered; some students were still somewhat displeased with some of the responses. This is why we would encourage the new CSC to try take up these concerns and see if there can be a compromise in future, between students and management. Overall it was a relaxed evening of insightful questions and answers. In some instances; a “semi-acceptable-for-the-moment” equilibrium was reached. The staff representatives had to deal with certain imbalances regarding academic related questions and students having to decode some confusing models from the staff. We hope that the event enabled the faculty to communicate important information to all commerce students. With this event, we were pleased that we were to deliver effectively on this year’s commitment motto: Engage, Empower and Serve.... every Commerce student.

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Careers

Entrepreneurship: the path less travelled

Sibusiso Mbonambi

“R

ands & Sense“ indeed seems an appropriate name for a commerce faculty publication especially because of the term “Rands”. I say this because as members of the commerce faculty, I believe we should constantly be trying to find innovative means to create money. However I feel this is, sadly, not always the case. Perhaps we are too occupied with securing DP* status? Or is it that in trying to live a “balanced life”, we have little time to create what we are “well -known” for: the Rands.

Few individuals have plans to pursue the path of becoming entrepreneurs after graduation As I traverse the undergraduate Commerce journey, the subject of future endeavours becomes more widely-discussed amongst my peers. To my despair, the general consensus in many of these discussions is that they aspire to become “nine to fivers” in the world’s most prominent firms. Few individuals have plans to pursue the path of becoming entrepreneurs after graduation. I find this strange: the faculty with a reputation to teach students how to supply the economy with increased value

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seems to produce a number of entrepreneurially-averse individuals. Seemingly, they prefer to become part of existing organisations. According to a study by the Marriott School of Management (Utah), in South Africa approximately 73% of workers are employed in businesses with less than 50 workers. Small and medium enterprises have the incontestable ability to create jobs and are an amazing platform for growth in our economy. With our country’s obvious need for economic growth, one would expect that commerce faculties country-wide are the factories for the establishment of entrepreneurial mindsets, in helping change the face of South Africa’s economic landscape for the better. In The Social Network movie, I was impressed by former Harvard University President Larry Summers’s response to the Winklevoss brothers’ accusation that Facebook’s concept had been stolen from them by Mark Zuckerberg. He had said “This is Harvard, someone is always creating something, just create something else”. My wish is that UCT would develop a community whereby similar attitudes could apply. We should make a shift towards innovation and creating new spaces in our economy instead of walking the common corporate career path. *Duly Performance requirement


Careers

Dressing fashionably Claire Mawisa

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Media personality & Content Co-ordinator at KayaFm

e’re all guilty of giving someone a quick glance, and judging them purely based on what they’re wearing. I learnt that this, unfortunately, doesn’t end once you leave campus life, and enter the workplace. In fact, it only becomes more prevalent as you progress in your career. From strolling past Jammie steps, to climbing the corporate ladder, here are some self-image tips that have helped me make a great impression, when it mattered most:

Expensive doesn’t equal stylish

As a student, and as a businesswoman on a budget, I always look for bargains. Train your eye to find great basics in affordable chain stores. Splurge on timeless, key items that can elevate your entire look; like handbags or shoes.

Fit is key

Women get so caught up with the size of their garments, even though no one can see the label! Buy what fits, and looks good. Don’t be hung up about the size.

Conservative is always better than risqué No one will respect you if you’re always trying to be sexy. It ends up looking more pathetic than powerful. Bring sexy back in the club, not in lectures, or in the boardroom. Feel free to identify and emulate a celebrity style icon, but always be brave enough to bring “you” to your wardrobe. It’s not only our brainpower that needs to leave a mark, but the way we present ourselves to the world. People are more receptive to what you have to say, if what you’re wearing is pleasing to the eye.

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Careers

From the Khanyi Dhlomo Founding Editor of Destiny Magazine and Managing Director of Ndalo Media

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hen I was a student, the political landscape in this country was unimaginably different from what it is today. Pre-democracy South Africa – carrying the virus of prejudice through its many veins of racial segregation, limited entry to academic institutions and industries for people of colour, inequitable distribution of resources and rigidly divided social hierarchy – was not an encouraging environment for a young person forging a career. While this presented huge challenges, however, it also provided its own form of motivation. The future of the country was uncertain: change was inevitable, but the form and outcome of that change depended – then, as now – on the quality of its leaders and their policies. I had an unusual advantage in that, before the age of 24, I had been a newsreader on a radio station and on a prime-time TV slot, as well as the Editor of True Love, a leading women’s magazine, which exposed me to both high-end business networks and to local and global political developments. It also connected me with the frustrations and aspirations of hundreds of thousands of viewers and readers, making me aware of the gap between regulation and reality, and the commercial versus the spiritual economy. This experience proved invaluable to me

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Careers

ground up and was the incubating period for many of the values which have underpinned my career, and which continue to drive my organisation, Ndalo Media. Wherever your own path leads you, I urge you to remain informed about socio-political and economic events in your industry, the wider country and the global context. In our digital age, particularly, where connecting and being up to date are non-negotiable, it is imperative to be aware of the rapid changes taking place all over the planet. Compared with my own formative years, the possibilities for young students today are wide open: at least, in theory. Our constitution – hailed as the most enlightened in the world – guarantees inalienable human rights to all its citizens, from the vote to safety, schooling, medical care and dignity. These embody the most important right of all: the right to hope. However, the reality is that our country (and, indeed, Africa as a whole) – with its host of inherited and self-created problems, including widespread poverty, corruption, crime, unemployment, under-resourced education and healthcare – desperately needs young, skilled, conscientious leaders in business, industry, government and society. As a commerce student, you have taken the first step to equipping yourself for this task. A foundation of solid theoretical knowledge is crucial to any success and will serve you well in your future, whatever direction you choose to go in. If you opt for the entrepreneurial route, and go on to create jobs for others, you will be helping to solve one of our biggest crises: at least 7,5 million South Africans are unable to

find employment and this is taking its toll on their families, their broader communities and the country’s economy as a whole. You will also be joining the growing ranks of young people around the world – particularly in our continent – who are creating their own opportunities. As American President Abraham Lincoln observed: “The best way to predict the future is to invent it.” If you go the corporate route and enter the business world as an executive, you will be helping to kickstart South Africa’s worryingly sluggish economic engine. In addition, you will be strategically positioned to help replace our alarming culture of corruption with one of sound, moral business ethics. In time, you may also have access to boardrooms manned by some of our country’s most powerful economic decision-makers. If you devote your commercial and business skills to philanthropic causes, via parastatal or humanitarian organisations, you will be directly uplifting individuals, relieving hunger, misery, illness and despair, and restoring hope to human beings who – by dint of either historical disadvantage or present misgovernment – are living on the margins. This is work that is not only urgent, but redemptive – both for its beneficiaries and for those performing it. My wish for each of you is that you use the skills your course of study gives you to empower not only yourself, but your family, your friends, your future employees, your community and your country. Use those skills to define your deepest and seemingly least achievable dream – and make it happen. You deserve nothing less!

“The best way to predict the future is to invent it.”

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Careers

Discussing current affairs with

Paul Maughan

Paul Maughan is a lecturer at the College of Accounting. Paul is appreciated by many students who find his lectures lively, insightful and that they are a pleasure to attend.

Interviewed by Sethu Tshabalala

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hy did you choose to become a CA(SA)?

At school I was never sure of what direction I wanted to go in. My policy was to work hard and that would leave as many doors as possible open. In the end I knew that blood didn’t interest me (no medicine) and neither did heavy maths (no actuarial science) and so I defaulted into the CA option.

What do you feel is the relevance of the CA (SA) qualification today and in future years?

Nations needs leadership all over the place - in education, business, politics to name just a few sectors - CA’s with good decision making skills and a high ethical standard will always have a role to play. We are not the only ones, there are many other groups of people

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who also do a great job already, but we as CA’s can take especially good care of the financial well-being of the people of South Africa.

The commerce faculty has recently introduced a course called Business Analysis and Governance into the third year accounting streams; why was this done?

SAICA wants students to stop thinking in silos (Tax, Financial Reporting, Management Accounting and Finance (MAF) and Audit) and develop pervasive skills. They are therefore looking to change the nature of the qualifying exams. They will be more integrated and require great knowledge of current affairs. BAG is therefore our attempt to equip students for these changes.


Careers

Some students are struggling with this course. Why do you think is the case?

Current affairs can be full of uncertainty and differing perspectives. That messiness can trouble students that want to receive the “right answer” and repeat it in tests. What BAG aims to achieve is getting students not just to arrive at thoughtful answers, it also wants students to develop critical reasoning skills that can be applied to all the future challenging situations they will face.

Do you think this has to do with our knowledge (or lack thereof) of current affairs?

Some students do struggle to connect the dots because they are not curious enough about current affairs and therefore read too little. Remember that readers are leaders!

What do you think students in current years (and those who have not done it yet) can do to better prepare for the course?

Read and be curious. I like to use this analogy: Imagine you are studying to be a vet and love sitting at your desk studying all about different animals. It would be really strange if outside your room were all these different kinds of animals but you had no interest in going to see them, you found it easier just to read about them. You would think that this person studying to be a vet might be a good student but they were certainly not going to be a good vet! The same is sadly true of many commerce students. They prefer sitting in their room reading about business rather than being aware of what is actually happening outside of their room. Do both rather! Read and explore what is happening in the business world.

What is the relevance to CA students of keeping up-to-date with current affairs?

Every business decision is made in a context where interest rates, electricity prices, exchange rates etc. matter. If you don’t know enough about these important contextual factors your decision-making will be poor.

Reading the newspaper and listening to the news can feel overwhelming as there is so much information. How do we as students train ourselves to sift through media to obtain “relevant information”?

You need to develop a framework for understanding the world of commerce. Every course at UCT is hopefully equipping you to do that. Then when you read, you are interpreting everything through the grid of your framework. The best framework thinkers to my mind are Warren Buffett, Charlie Munger, Jeremy Grantham and Howard Marks. Google them, read them and let them shape your framework. The Economist and The Financial Times are also available in the library and are excellent resources to be explored.

What are some things we should keep in mind when we read this information or when we look for it?

My biggest tip is to start reading articles that interest you. Then, as you read you will naturally be asking questions (i.e. is that really true? Where did they get evidence for that statement? Would that also work in SA? Does this contradict another view that I’ve heard?). Research the answer to these questions and you will find yourself asking a lot more. That is how you start to fill in the details of your framework.

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Careers

Interview with

Corné van Walbeek Corne holds an M.Com. from the University of Stellenbosch and a PhD from UCT. He then taught at the University of Stellenbosch for six years, after which he worked for a large fruit exporting company for three years. In 2000 he joined UCT, first as a research professional and later as a lecturer. He now serves as Head of the School of Economics.

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remember my first economics lecture, at which you spoke. A moment I’ll never forget was when you mentioned that you didn’t use a cell phone. As cell phone crazed first years, many of us didn’t understand that. Why did you not have a cell phone and is that still the case today?

I do own a cell phone [laughs]. My reasoning for not having one at the time was that I did not want to be so bound by a cell phone that it ruled my life or disrupted me. I’m also not that great with keeping small gadgets. Although I haven’t lost my wallet or my keys but I would lose my cell phone. I’m surprised you picked up on that!

What were some of your earliest academic and career experiences like?

I studied actuarial science at the University of Stellenbosch when it was in its development phase. I battled through my 3 years but finally obtained my degree. Unlike many of my colleagues I understand and know what it feels like to have exam pressure just to pass,

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Interviewed by Sethu Tshabalala when the odds are that you should not pass. I knew that Actuarial Science was not me so I studied my Honours and Masters in economics and found it unbelievably interesting. After lecturing at Stellenbosch, I practiced some economics in the private sector in a highly operational position. This was a valuable and insightful experience. However after a few years; I could not see myself in that position for another 30 years. It was then that I got to work at UCT. I did research on the Economics of Tobacco Control which I later turned into my PHD. This was awarded to me in 2005.

What does it feel like to see your name in print and be quoted by credible institutions such the South African Medical journal?

It feels cool [laughs]. It feels rather nice to go to a conference and hear people say “Oh, so you’re Corné van Walbeek.”

On the UCT website, one of your listed research interests is Tobacco Control, can you please explain what it is?


Careers Tobacco is a huge public health issue. Tobacco Control involves looking at tobacco as a health issue and asking, “How can we reduce the public health impact of smoking?” How can we reduce smoking prevalence? One of the effective ways in which this has been done is by increasing excise taxes and banning tobacco advertising.

Have there been any personal reasons or opinions as to why you have chosen Tobacco Control as a research topic?

One should distinguish between objective research and feeling. I try to make my research objective as possible. I do not make judgments about people and their behaviour. I provide the economic analysis and investigate the effects at a population level using the best possible research approaches.

What were the developments that led up to building the new Economics Building?

Around 6 years ago there was a feeling that Upper Campus was a too crowded and that Middle Campus was underutilised. Bringing the entire Commerce Faculty down to Middle Campus was far too costly. Instead there was a subsequent proposal to bring the School of Economics to Middle Campus. The idea was also made possible by an infrastructural grant from government. The planning started in 2008 and the building was all finished last year.

As a member of the CSC, I often hear career paths in economics are not quite as clearly defined as that of other Commerce streams such as Finance and Accounting, for example. What are some of the career opportunities available for people studying economics?

The best way to explain economics is that it is like maths, it’s a foundational subject. It can be used quite broadly. Thus, you can build

other skills with it. It does not prescribe what career you are going to follow one day. As such it is more risky, but possibly more exciting than a more professionally focused degree, of which we have a number in the Faculty and University. There are many avenues Economics students can take. Some of the careers options available for Economics students include working for industrial organisations, consulting companies like McKinsey and Genesis, technology companies or the banking and financial services sector. There are also opportunities in the government, such as working for the National Treasury or the Department of Housing. And of course there is also the world of academia and research either at a university or research institution.

Where do you think a majority of students often go wrong with their studies? What advice can you provide?

Some students fail to take responsibility for their actions. They want to have it the easier way or they only do enough work to pass. I think all students should strive for a degree of professionalism. By this I mean they should keep ahead of their work and connecting the dots to the real world. They should ask questions and use the lecturer’s consultation times when they need help. Students should read widely. Visit the business section of Exclusive Books. For an economics student, reading Freakonomics would be helpful and fun as it is closely linked to some of the concepts we cover in lectures.

What do you do in your spare time?

I enjoy my spare time at home with my family. I have a wonderful wife and 3 lovely daughters. I run a bit, and I like playing board games, especially Settlers of Catan. It’s about applied economics. The game involves much strategy, some bluffing and some luck. I enjoy playing this game with my children because I want them to learn to think strategically.

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Student Life KPMG Case Competition Google Student Ambassador Summit Internships Challenges of Student Leadership Swifter, Higher, Stronger Social Media Or you can try to re-invent the wheel 14 things we wish we had known 21


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Trip to Hong Kong Craig Lai King

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s I sat in front of the computer scrolling through Facebook, hoping some notification would pop up that would allow me to carry on with my procrastination, I happened to stumble upon a link. This link presented the opportunity to enter the KPMG International Case Competition (KICC). What I initially noticed was that the due date for the application was in two days’ time and that it also required a motivational letter. “What a hack” I said to myself. It was at this point that I almost left the page to continue perusing the world wide web of distractions when the slogan of the KICC caught my eye. “Rise to the occasion. Push yourself. Go beyond.” Having lived my life by the clichéd mantra of, “If not you, then who”, I immediately identified with these three short phrases. The grand prize of the competition was an all expenses paid trip to Hong Kong, the prospect of engaging with some of the world’s brightest minds and the chance to represent South Africa on a global scale. The opportunity seemed

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too great a chance to pass by. So I took the plunge with three of my closest friends (Sakhile Mabena being one of them) and applied. Fast forward two national selection processes, determination, a lot of hard work and six months: Sakhile and I found ourselves on a 12 hour plane trip to Hong Kong, the economic hub of one of the world’s largest emerging markets. Here we were pitted against teams from 24 other countries for the bragging rights of ‘KICC Champion’.


student life

The competition was fierce. We were against not only students, but working professionals who were studying towards their master’s degrees. Whether you realise it or not, UCT certainly prepares and helps to cultivate a skill set which allows you to compete and hold your own on a global scale. In this case, being able to think laterally and take a “big picture” approach to the problems held us in good stead as we managed to make it to the semi-final round of the competition. Unfortunately, we did not make it to the finals but then we had the opportunity to experience Hong Kong nightlife instead. Suffice to say, UCT also prepares you well for situations like these. Globalisation is the phenomenon of the world getting smaller on a daily basis and it has become a buzzword we hear almost as often. Yet, from a cultural point of view, there is still a large gap which divides us as humans. Unexploited business opportunities lie not only in the local market, but they also present themselves in the distant and often poorly understood regions of the world. It is our responsibility to expand our global mindset and grow our cultural sensitivity if we hope to remain competitive in the world.

As you come to the end of a major chapter in your life and begin to embark on writing another one, there is always that one lesson that you have learnt from the experience that you will carry for the rest of your life. This is mine: Being ambitious and believing that you can achieve anything you set out to achieve is a journey of selfrealisation. It does not happen overnight however. It is being able to use the knowledge gained in the lecture halls, utilising the skills you learn through interaction with others at university and an accumulation of all the small victories you amass on your journey that will provide you with this confidence and self-awareness. I would encourage you to find a mantra that you can live by that will act as a constant reminder that your imagination should be the only constraint of your success. “Rise to the occasion. Push yourself. Go beyond.” These words resonate with me today as powerfully as they did when I first read them. Hopefully, it will ignite within you a fire to achieve far more than you can imagine, as it has done in me.

Rise to the occasion Push yourself Go beyond

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student life

Timothy Taylor

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he Google Student Ambassador Summit of Sub-Saharan Africa (GSA Summit SSA) was a 3-day summit held at the Oshwal Center in Nairobi, Kenya, from 10-14 June 2012. The aim was to empower students with technical, communication and leadership skills. The summit was attended by 145 students representing 103 universities from 12 different countries in Africa and Google users from the rest of the world. Having been selected as a Google Student Ambassador for UCT, together with Lorna Okeng and Atang Motloli, I had the opportunity to network with a diverse range of Google Ambassadors from all around the world. Abiodun Adepoju (member of past GSA Summit) remarked that “The programme is inspirational, eye opening and full of opportunities for ambassadors and their institutions�. Now, as technically savvy ambassadors, we are to introduce our institutions and peers to Google technologies, competitions and internship opportunities. We are also determined to use technology to make a positive impact in our communities. We are to serve the UCT community in the hopes that Google technology and Google products enhance the

overall learning experience and personal development of our peers. One of our main objectives as Google Ambassadors is to be as accessible and approachable as we can to all parties within the university i.e. students, lecturers and societies. As we have been equipped by Google, we aim to make full use of our knowledge and transfer it to as many parties as possible by the end of this year. Over the next year, we will be hosting a number of events based on what Google has to offer. Please look out for the Google Ambassadors on campus. Should you have questions regarding any of the Google products, please contact us on the details listed below.

The aim was to empower students with technical, communication and leadership skills

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Timothy Taylor tyltim002@myUCT.ac.za 082 926 5481 Lorna Okeng lornagal22@gmail.com 073 073 3553 Atang Motloli atangmotloli@gmail.com 073 650 6872


student life

Internships

Sandisiwe Gwele

Mashokane Mahlo

3rd Year B.Com Financial Accounting (CA)

3rd Year B.Com Economics and Law

Which company and in which division did you work this vac, and for how long? I completed a three week internship at McKinsey & Company and worked on a client engagement as a member of a McKinsey team.

I worked for a NPO called Enke: Make Your Mark for a week. It is a youth empowerment organization. I worked as a Facilitator on their Facilitation Team.

I worked on a study in the energy, mining and logistics sector; doing the same problem-solving work as the other consultants. The experience was invaluable. I had a first-hand look into the world of management consulting. I worked with McKinsey experts from around the world and had the opportunity to learn and network with very talented people.

I worked in Facilitation Workshops which helped selected students become critical thinkers, leaders and active change agents. I spent time working as a consultant for the the Community Action Project in which students had to establish and run projects for 9 months within their communities. I worked with a highly professional and passionate team.

What kind of work did you do and what experiences/ value did you gain?

How did you obtain this internship, and how can other students obtain the same opportunity? Third year students from any faculty can apply for the internship. The selection process consists of three rounds. In the first round applicants write a problemsolving test, and thereafter, there are two rounds of case interviews.

I was blessed to be part of this team, having been nominated by the Allan Gray Orbis Foundation (my current sponsor). This was followed by an application and interview process.

The world of management consulting is tough and can be extremely challenging. However, it is also very rewarding. It is a great launch pad for a successful career in any industry.

The hours in a NPO can be incredibly intense. There is no easy way of making a huge difference in the world. Starting and running a NPO needs courage, determination and incredible passion.

What did you learn about this industry?

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student life

The challenges of Student Leadership at UCT Kabelo Pule

(Service & Labour Coordinator, SRC)

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ow does a Student Representative Council (SRC) fail us? Others have described it as “Politics, CV building …a popularity contest”? These may be plausible. I am yet to hear anyone saying it was for the money. As it turns out, being a Residence SubWarden is more lucrative. Alas, I would like us to consider the scenario where a perfect candidate runs for SRC: the “I want to be the change that I see in the world” type of candidate. The question becomes: “How does that SRC member fail to return meaningful changes from council decisions to the student population?” I have a few theories. The first is the “Invisibility Theory”, a term I’ve coined, which refers to the inability of an SRC member to let all students know what they are doing. For instance the SRC is able to reduce the fee increase from x% to (x-2) %. This means much less if no one knows about the initial increase of x%. A second theory of is that of student apathy. This is not necessarily always a bad thing phenomenon. As much as people have the right to be involved, they equally have the right not to be involved. Again, we can look at a hypothetical example of a fees increase, since this affects all students at UCT. The population mainly comprises of the following type of students: • The weathier students who might still be able to afford the fees regardless of an increase

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• Students whose household income qualifies them for Financial Aid • The number of students on bursaries or scholarships who might be unaffected by a fees increase directly • Students who are neither on a bursary nor are they on Financial Aid. They (along with those on Financial Aid) are possibly the fraction of the student body who are most incentivized to care about a fees increase. There are many problems affecting the student population. This example aims to illustrate that the composition of these students affects the magnitude of support there is in alleviating some of these problems. The smaller the number of students who are affected or who care, the more difficult it is to alleviate the problem or celebrate the solution. I think that there is more management than leadership in SRC. It is not always about the quality of work that an individual produces but rather how they define the path that they take in office. Are they receiving their mandate from others, or are they creating a path of their own? If we expect an SRC to carry our voices to the decision-making bodies of the university, what messages are we entrusting them to carry? My theories may be incorrect. However, in my experience, an SRC’s might is only borne of a student body’s willingness to engage with these matters and bring them to the forefront of debate and contestation.


student life

Swifter, Higher, Stronger Mpho Mutloane

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very four years the gaze of the sporting world falls on a city for 16 days in August. Founded by Baron Pierre de Coubertin in 1896 the Olympics have become an important event to many sportsmen and women around the world. Having begun as an ancient Greek event with the motto “Citius, Altius, Fortius” (swifter, higher, stronger) the Olympic Games are a celebration of sporting achievements. This year the spotlight was on London as it hosted the 30th Olympic Games. The motto for the London games was “Inspire a generation”. According to The Telegraph, London is the first city in history to host the Olympic Games 3 times. In total, 10 500 athletes from approximately 205 countries of 5 Continents (America, Africa, Asia, Australasia, Europe) participated in 300 events.

this year”. In swimming we witnessed Chad le Clos of South Africa beat Michael Phelps; standing in Phelps’ way of increasing his tally of the most Gold medals in Olympic history. However the most anticipated event was probably the 100m men’s final, which was won by Ussain Bolt, making Jamaica proud. Over the years, the games have given South Africans moments of passion and excitement. We have always love d it when Nkosi Sikeleli Afrika was played and sung by some of our own stars such as Penny Heyns in 2004 and Josiah Thugwane in 1996. This year the hope of hearing our beautiful anthem rested on the shoulders of about 120 athletes. Some of these stars included the likes of Kgotso Mokoena in long jump, Cameron van der Burgh in swimming, Caster Semenya, who did South Africa proud with a Silver Medal in the 800m run. Overall, the games are yet another incredible time when nations gather in support of human talent, which is always exhilarating to witness.

We always love it when Nkosi Sikeleli Afrika is played and sung by some of our own stars such as Penny Heyns in 2004 and Josiah Thugwane in 1996

Many major events took place. In tennis, Nadal, Federer and Djokovic continued their fight, but Andy Murray was the one who took the Gold Medal. According to the Telegraph, “women’s boxing took place for the first time

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student life

Social media the lecturer’s stance Jacques Rousseau is a lecturer in Critical Thinking and Ethics at the School of Management Studies, University of Cape Town, He is the Chairman of the Free Society institute. He writes a weekly column for the Daily Maverick, and has a weblog at http://synapses.co.za

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espite what you might have been taught in courses like EBM, the key problem with social networks is really this: too many of my students use them. The moral responsibility of not distracting you from work with details of my fascinating life is a tremendous burden. This isn’t to say that I don’t find social networks valuable. Twitter, especially, is a fantastic source of up-to-the-minute news (Facebook gets the same news, but usually only days later). It’s also a great way to test ideas on a large group of people, many of whom you might not know (which is good, because it means you get to hear opinions that might challenge your assumptions). Social networks can take up too much time, though. Thus if you’re short on that (as you

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always claim when essays are due) you need to limit the number of contacts (and platforms) that you use. It’s also true that we need to be careful about what we post publicly, and/or make sure we’ve set appropriate privacy settings. I’ve often not hired someone as a tutor, for example, because of aspects of character revealed through social media. Digital fingerprints can be difficult or impossible to erase, so it’s important to think long-term. Beyond that concern, though, I’m glad we have them, because they let you make connections that would have been impossible a decade ago. Which connections we make, and how we use them, is up to us – just as it should be.


student life

Or you can try to reinvent the wheel‌

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he 21st Century is all about instant communication. With just a simple click you can instantly contact people and send files faster, for less. Any business that starts up would be senseless not to register themselves on all of the social media platforms, as the potential to reach a myriad of online users is crucial for building brand awareness. 6B Magazine is an online magazine that two partners and I started. It aims to provide tools and advice for young people in the media industry to build their personal brand and career paths. We interview big names in the various media sectors and provide news, tutorials and reviews in careers. As we are online-based, social media plays an invaluable role in our marketing campaign. On the day we launched the magazine, we boosted our Twitter presence in an attempt to trend #6BMagazineLaunch.Within 3 hours of tweeting, 6B Magazine ended up trending not only in Cape Town but nationwide. 6B has accounts on Facebook, Twitter, ISSUU, YouTube, Sound Cloud and Delicious as well as a blog, which make it a socially interactive magazine. Without social media and constantly updated content, we would not have the readership we have today. In terms of sourcing funds, as we use such a wide variety of social media sites, sponsors

Danilo Acquisto and advertisers find the magazine very attractive as we can reach larger audience faster than a print magazine could. I am also a television presenter on a daily live show called Hectic Nine-9 on SABC2. The show is primarily interactive and we have one of the largest followings on Facebook in South African television with over 111 000 likes on the page. The show attracts just over 2.4 million daily viewers. Social media is essential for any business venture to create brand awareness. It also plays an important role in development as businesses can receive instant feedback and continuously monitor their interaction with audiences. These days you can make use of social media or risk re-inventing the wheel unnecessarily to move your venture forward.

6B Social Links: Facebook: facebook.com/6bmagazine Twitter: @6BMagazine_SA Web: www.sixbmag.com ISSUU: issuu.com/sixbmagazine_sa 29


student life

14 things we wish we had known about studying Commerce I wish I knew... 1.

2.

3. 4.

5.

6.

7. 8. 9. 10.

11.

12.

13.

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That at some point I would realise that this is for me – Shannon Franks That the ladies in Commerce are oh so fly – Sibusiso Mbonambi That some people will change majors... all the time! - Molebogeng Raolane That you do not necessarily need a degree in Commerce to work in the world of Commerce. What’s more important is to understand its systems – Baraka Msulwa More about the degree structure and the courses offered. I didn’t know that you only start focusing on your majors in second year and that you do a broad range of courses like Statistics and Economics earlier on – Tyson Sithole That my 4 years here would not be the picture perfect experience I had in mind. Instead, there would be as many highs as there were lows. I know it will all be worth it in the end – Sandisiwe Gwele That my faith would be tested – Khaya Makhubu The difference between B.Com and B.BusSci and why the university has both degrees – Nadia Junge That when you get to third year, you should be ready for a rollercoaster ride – Thabang Letheo How much of an advantage it would have been if I had a greater understanding of current affairs, not only in my stream of studies but in society as a whole: socio-economic, health etc. Commerce is not just about numbers. The greater understanding you have of current affairs, the more practical your work becomes – Mogomotsi “Gomi” Phage More about the AD programmes because I don’t think efficient support is given to mainstream programmes – Keorapetse “Rapi” Mogorosi For me, having an older brother in Commerce definitely helped when it came to advice. But it would be useful to have a clearer scope of the degrees and the type of careers they lead to. There weren’t many discussions about CFA (Charted Financial Analyst), Consulting and CIMA (Chartered Institute of Manage ment Accountants) in the beginning of our studies. People need to know that there is more to life [and accounting] than becoming a Chartered Accountant – Thandeka Xaba That the first year load is quite light compared to higher academic years, so it’s smart to bring down courses [where you can] – Unam Mahlati The fancier the course name, the more likely it is to be annoying – Mangaliso Nxasana


societies

UCT Consulting Club

Background

Now with good you are out, with great you get the interview and only with excellence will you make it

The UCT Consulting Club (UCTCC) was founded by a community of students drawn to the industry of business consulting. A common saying in the industry is that if you are looking a profession that you can explain to your grandmother, consulting definitely is not for you. This is the reason that the UCTCC cannot be categorised within the classic confines of society. The profession is complex and highly influential; all the while it fuels growth across every business sector, particularly in Africa.

Event

There is a lot to be said about a strong and intelligent support network. Thus the UCTCCendeavours to create a group of approximately 200 members who share stories of success in a structured environment. Students learn from other students about the most effective way to prepare for a specific firm’s interviews. The first session of this nature happened in the lead up to winter internship

interviews for two major consulting firms. As UCT students, we provide other students a priceless advantage over the rest of South Africa by collaboratively preparing for this type of interview. It is through student run case study workshops that the UCT Consulting Club is adding to the pool of available resources aimed at creating success in the consulting arena amongst students.

Result

As the job market becomes more competitive, excellence is the only right. Good used to get you in and with excellence you would run the organisation. Now with good you’re out, with great you get the interview and only with excellence will you make it. This is what the UCT Consulting Club strives to be. Be alert for a case competition, case book, social consulting opportunity and the continuation of the speaker series next semester.

Adrian Cox (President) 31


societies

InvestSoc Revealed

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friend of mine once confidently told me that economic conditions can’t be that bad because he saw more green arrows than red ones on the business news. It was at that point I knew that we, as InvestSoc (Investment Society), had our work cut out for us to educate our fellow students about business. This is not to say that InvestSoc is the hub of all economic, financial or business news. Rather we see ourselves as an integral body for students to learn how to thrive in a dynamic corporate environment. Allow me to refer to the sub-prime mortgage crisis of 2008. This was triggered by US banks recklessly allowing doubtful debtors to take out mortgage loans. These debtors subsequently defaulted on their loans. Banks worldwide had invested in financial assets directly linked to these toxic mortgages. This was a major contributing event to the global recession. So what does this have to do with InvestSoc? As an Investment society one of our core objectives is to facilitate the development of students into formidable professionals of any field. We encourage students to think proactively about how macro-economic events will impact their professional lives. Thus in facilitating and planning our year we aim to

unravel current affairs and educate students about how global events, for example, affect not just the global markets but also how they affect the man on the street. One of the main ways in which we try to impart knowledge to students is through our events. Earlier this year we hosted the Managing Money event. This essentially offered free expert financial advice. We partnered with Discovery Invest and their National Sales Director, Marthinus van der Nest to educate our members as to how they can make their money can work for them. Besides free expert advice, InvestSoc also opens up several unprecedented networking opportunities. The most popular and effective of our networking events is the Insider Trading Evening. Here students are given the perfect opportunity to make connections and learn more about working at different companies. This also offers members the chance to leave lasting impressions with possible future employers, giving them an edge or competitive advantage in competing in the job market. Trevor Manuel once said that InvestSoc provides students with the financial acumen to be leaders of the African Renaissance. That being said we invite you, as UCT students, to embrace the opportunity to gain insight into the workings of the business culture and how the economic events affect individuals on a macro and micro economic level without having to do any Economics courses.

We encourage students to think proactively about how macro-economic events will impact their professional lives

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Sibusiso Fakude (Project Manager)


societies

Pioneering Young Women’s Conference 2012

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n the 1st of July 2012, one of InvestSoc’s flagship projects, the ABSA Capital Pioneering Young Women’s Conference (PYWC) kicked off its 4-day programme at the Radisson Blu Hotel in Sandton. 25 of South Africa’s most promising and exceptional young ladies embarked on a tremendous journey of learning, self-discovery, and inspiration. The annual Pioneering Young Women Conference was the result of hard work, collaboration, and creative insight by InvestSoc’s conference committee of 6 young ladies and their sole sponsor, Absa Capital. With the experience of being a delegate in 2011, and working as InvestSoc’s Project Manager with my team this year, I can in earnest say it was a business conference with a difference. The theme for this year’s conference was, “A Generation Apart”. Together with Absa Capital, we established this theme to nurture a generation of aspiring female leaders. Thus the conference enabled them to interact with a more mature and experienced generation of men and women working in male-dominated corporate arenas and match this calibre of leadership. The conference exposes the selected delegates to the challenges and opportunities that exist in the financial sector. It provides a platform for these young women to gain insight from professionals and entrepreneurs, to enhance their leadership skills. In addition to attending workshops and speeches, the

delegates engaged in a panel discussion with industry leaders about Green Economy as well as issues relating to the future of Emerging Markets. Some of our esteemed guests included Zolani Mahola (Freshly Ground), Maria Ramos (CEO of ABSA) Siki Mgabadeli (SAfm) , Rapelang Rabana (UCT graduate and entrepreneur) and many other phenomenal leaders. Currently there is fluctuation in the world as new challenges confront the global economy. Some of these challenges require a strategic paradigm shift in the way we view ourselves as young woman and business. The conference invited the delegates to confront some of these issues with confidence, critical thinking and an open mind. Our mission was to create truly transformative young women, whom ABSA Capital would view as tomorrow’s leaders. The world is in need of change agents. This conference definitely plays a part in cultivating talent in South Africa’s young women to inspire global and social change. Overall the 2012 Pioneering Young Women Conference was an outstanding success for both InvestSoc and our sponsor ABSA Capital. It has certainly left a lingering expectation of consistently bigger and better projects and events from the society as well as all the delegates who were selected.

Lynette van Wyk (Project Manager)

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societies

SIFE

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tudents in Free Enterprise (SIFE) is an international organization with branches in universities in 39 countries across the world. Our vision is to use business ideas and innovative concepts to create and run sustainable developmental projects. We also aim to be the best possible platform for student entrepreneurs to network, learn and grow. Our focus has been on 5 projects during this year. The Food Tunnel runs in the Nyanga Township and will eventually serve to feed Nyanga residents and act as a source of income through the sales of the vegetables grown. The project is looking to expand into local schools. Angel fund is a micro-lending initiative that currently works with another studentrun organization called Siyaya to give microloans to entrepreneurs living in Khayelitsha. This project has been growing immensely this year. Money Minds aims to provide young people in Cape Town with financial literacy and leadership courses. This project has recently won the Super Stage competition and was awarded a R50 000 grand prize. Part of these funds will be utilized to develop more financial literacy workshops and create a website. Solar Energy Project This project is in its developmental stage. We will be working with Engineers Without Borders (EWB) to build a

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low maintenance, cost-effective solar energy system. This mechanism will be installed in communities around Cape Town to help them save energy costs. It is also aimed at promoting environmentally friendly resource usage. Project UCT provides information source and support for students at UCT who are interested in social entrepreneurship. Its first major event was the SIFE opening event. Former CEO of Google South Africa, Stafford Masie, addressed students about the direction in which technology is moving and how it can be used to help people. The second event was the National Planning Commission’s (NPC) Think Tank where students and staff came together to discuss their vision for South Africa’s future and what the NPC needed to do to obtain these goals. We were honoured to have the Minister of the National Planning Commission, Trevor Manuel as the keynote speaker at this event. We also participated in SIFE Nationals in July at the Sandton Convention Centre. SIFE UCT scored third place in two categories, namely the ‘Triple Bottom Line Award’ and the ‘Team and Project Sustainability Award’. As a society SIFE UCT has grown this year and we hope to continue our growth not only in numbers but also in our ability to help communities and develop young social entrepreneurs.

Thandeka Xaba (President)


societies

Is BMF still relevant? Originally established in 1976 the Black Management Forum was formed with the purpose of influencing socioeconomic equity in South Africa through the transformation of the economy. The UCT student chapter was later established to address any obstacles that young black students would encounter on their journey to becoming leading professionals.

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ome people have argued that the Black Management Forum actually amplifies the issues of race, mainly through its use of the word “black” in its name. The argument against using the word “black” is that the name makes the organisation appear exclusive. In addition, many believe that the organisation has shifted away from its core focus and has become pre-occupied with issues that are not in the primary interest of its membership. The UCT BMF society’s vision for 2012 addresses some of these issues. Our vision and primary focus is that of the student. We aim to address issues of student apathy, having noticed that many students have a lack of participation outside lectures. We also aim to be an avenue that cultivates a culture of learning (through sharing resources and information) and personal development amongst students. This year the society has doubled its membership, showing the increased public commitment to the value proposition of the society. We have hosted a number of events thus far, one of which was a transformation debate titled ‘Race Matters’. The panel included the Vice Chancellor Dr Max Price, Deputy Vice Chancellor Professor Crain Soudien, and other influential individuals in the sphere of transformation at UCT. This semester we have hosted a Women’s day event, to celebrate the struggles and suc-

cesses of all females (regardless of race) in our society. Later this year, we will be connecting our final year graduates with potential employers including Rand Merchant Bank, British American Tobacco, Sanlam and others. This illustrates the broad scope of our organization. The UCT BMF society is unapologetic for its name and mandate. The society was established in 1976 where the statistics in management positions did not favour black individuals, and these numbers have only increased slightly. There is still room for improvement. According to the Employment Equity Report of 2010/2011, of the 73.6% black Africans in SA only 17.6% are in senior management. This indicaties that transformation and social-economic change in post-apartheid South Africa has been painfully slow and unsuccessful in some areas despite Black Economic Empowerment. We have taken the responsibility to help address some of these issues. The BMF will become irrelevant the day that our society has become fully equitable and the demographics are well represented in all spheres of society. Until such a time, we will continue to offer our valuable propositions to create business leaders and, most importantly, to produce responsible South African citizens.

Thembeka Setlogelo (President) 35


societies

The Funda Initiative

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he Funda Mathematics Initiative is a student-run organization established to improve the quality of Mathematics teaching available to high school students in the Guguletu Township of Cape Town. The program includes weekly teaching sessions of two and a half hours. We offer teaching, educational resources, career guidance and mentorship to 90 students. The distressing reality is that many of our students live below the bread line. Some walk several kilometres to reach their bus on Saturday mornings, having had no any kind of breakfast. Thus, to help alleviate their impoverishment, we supply students with some food and juice (to be provided by Sir Juice this semester) at every session. However this is not sufficient which is why we plan to implement a feeding scheme in the school these learners and those who cannot afford lunch. In an attempt to upscale The Funda project, and improve the greater education system in South Africa, we are piloting a study to test whether the use of video lessons for

instruction is effective in rural schools. We have sampled students from the program and supplemented their learning with subtitled Khan Academy videos. Their progress is being closely monitored and compared to other students in the program who are not using the video material. Should the study be successful we will eventually phase it in to the Funda program, in conjunction with considering other important factors. We are still in the process of registering Funda as a non-profit organization and we should hopefully be registered some time during this semester. The Funda 2012 team is a very passionate about the importance of education. We have so many resources available to us, and so it is our duty to use these to aid the general level of education in areas where improvement is needed most.

we are piloting a study to test whether the use of video lessons for instruction is effective in rural schools

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Stephanie Demetriou & Danielle Valentine


societies

SHAWCO Education they realise it or not) is an inspiration to the children they mentor. I asked a few volunteers about what pushed them to join Shawco, and this is what they had to say:

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s students many of us often ask ourselves, “How can we give back to society? How can we make a difference?” Unfortunately (and for different reasons) few students actually satisfy this inherently humane sensation to give back. Sometimes we may feel that by giving money to the beggars on the street we are “giving back”. In most cases we are, but what actually happens when the money leaves our hands? How many of us care what happens to the money thereafter? Or is the fact that we gave some of it away good enough? Is our purpose for giving truly to “make a difference” or just to make ourselves feel better? It is this internal debate I had myself which pushed me to join and dedicate my time to SHAWCO* at UCT. As a 3rd year Business Science student, there is nothing more valuable than time, but with SHAWCO the time and energy I give up enables me to create value by helping less fortunate children all across Cape Town. What I enjoy is that I can see the progress that our help provides to these children each week. In this light, SHAWCO serves more as a mentorship program than a tutoring program. I say this because every volunteer (whether

“I felt it was the best and easiest way to give back to the community. An incredible place to start is with the kids: the future generation of this country. And if I can help them with something as crucial as education, then why not?” Scotty Kiddo Fuller “I don’t know whether it’s because of my female instincts but I felt drawn to SHAWCO. I wanted to take care of others, like ‘dependants’. This has also given my Fridays a new reason to become my favourite day of the week.” Florah Marumo Chuene It can be tough to balance university academics with extra murals but we should try to make time where we can. When it comes to helping the community there is more we can do than simply donating money. Our community, especially the school children, is in need of other things such as teachers, tutor

and mentors. Whether we like it or not, we all have role to play in society. My question is to you: How effectively are you playing your part? *Student’s Health and Welfare Centres Organisation

Gilbert Anyetei (Fundraising, Events and Marketing) 37


Message from

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Minister Trevor

istinguished Young South Africans, Ladies and Gentlemen

We are a nation of the young. Our demographic profile confirms this. Let me share with you from the National Development Plan the following: ‘A large number of South Africans are between the ages of 15 and 29. If youths fail to get a job by 24, they are unlikely to ever get formal employment.’ Our present demographic profile presents a tremendous opportunity – but it also constitutes a serious risk, given that joblessness mirrors age and race fault lines. Sound leadership demands that these risks be anticipated, understood and, to the extent

possible, circumvented. What is certain is that the solution lies in our hand, or more precisely, in yours. So, it is in this context, that I believe it is imperative that young people are represented properly; in other words, a political handover to sensible young people is not only advisable but also necessary. In South Africa much of the political ‘heavy lifting’ has already been done. We have had to organise ourselves against apartheid, risking life and limb, and we succeeded. We had to prepare to govern, albeit in an environment where we knew nobody who’d ever been in government. One of the big responsibilities that your generation has to win back is to return the honour to the responsibility of governing.

One of the big responsibilities that your generation has to win back is to return the honour to the responsibility of governing

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Unfortunatley those who fill the employment square on forms with the word “politician” have done nothing to inspire the next generation to consider political office. Yet, in politics, as in life, there has to be handover. However as with all handovers, the more orderly they are, the better. My first question to you is whether you’re ready? South Africa needs a generational mix of people in leadership positions. So, as I am identified as a campaigner for generational mix, let me add the caveat - age cannot be the only criterion! Leadership has to be about values, respect, discipline, persuasion and a series of softer attributes. The worst leaders are those who lack the maturity to understand that the desire for power is unlikely to render you a competent leader, and that power is a force to be managed with utmost care and respect for that power itself. Be it in politics, institutions of higher learning, corporations, or just in life, we acknowledge that you will be the decision-makers. So let me declare this strategic objective. While the National Planning Commission has looked at 2030, the implementation must start now to get to that place described in the Vision as: Now in 2030 we live in a country which we have remade. We have created a home where everybody feels free yet bounded to others; where everyone embraces their full potential. We are proud to be a community that cares. We have received the mixed legacy of inequalities in opportunity and in where we have lived, but we have agreed to change our narrative of conquest, oppression, resistance, and victory. We began to tell a new story of life in a developing democracy. We began to share freedom and the uncertainties of living with it and in it. To get to this Vision, we have to believe ourselves capable of creating such a new story, as a true recall and not as some distant future fiction. The hard work has to start now.

Dedication to the youth Adapted from Bertolt Brecht’s In Praise of Learning

Study from bottom up, for you who will take the leadership, it is not too late! Study the ABC; it is not enough. but study it! Do not become discouraged, begin! You must know everything! You must prepare to take command, now! Study, man in exile! Study. man in the prison! Study, wife in your kitchen! Study, old-age pensioner! You must prepare to take command now! Locate yourself a school, homeless folk! Go search some knowledge, you who freeze! You who starve, reach for a book: it will be a weapon. You must prepare to take command now. Don’t be afraid to question, comrades! Never believe in faith. see for yourself! What you yourself don’t learn you don’t know. Question the reckoning - you yourself must pay it Set down your finger on each small item. asking: where do you get this? You must prepare to take command now!

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UCT Rands and Sense 2012 Commerce Students Council Magazine  

This publication is a reflection of the talent UCT Commerce students possess. It's about the experiences and knowledge Commerce students hav...

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