rands & sense 2009 edition

7/29/2019 Rands & Sense 2009 Edition

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mmix / no. 02

editor

nicole botha

layout & design

m irfaan imamdin (@mirfaan)

cover & illustrations

talya goldberg (@TalyaGoldberg)

contributors

m irfaan imamdinnicole botha

photography

uct sunrise (pg 14) by hgroenewald;taken at middle campus on 16 may2009. see the original image here

editorial address

email: [email protected]

RANDS&SENSEmagazine

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editorialeditors letter .csc team chairs letter ...chairs letter ...

developmentcorporate presentation diary ..

featuresinterview with jonathon argentfollowing his dreams budget speech at a glance

Departmentsvox pops 1000 words final word ...xkcd ....

the small print: no responsibility can be taken for the quality and accuracy of the

reproductions. nor, for tpyographical errors (see what we did there?). the opin-

ions expressed in this publication are not necessarily those of the commerce

student council or the commerce faculty and any of its representatives. this is a

quarterly publication. artichokes dipped in gasoline and fed to koala bears is

probably not a good idea either. were just saying.
http://www.twitter.com/mirfaanhttp://www.twitter.com/mirfaanhttp://www.twitter.com/TalyaGoldberghttp://www.twitter.com/TalyaGoldberghttp://www.flickr.com/photos/hgroenewald/http://www.flickr.com/photos/hgroenewald/2500061719/http://www.flickr.com/photos/hgroenewald/2500061719/http://www.flickr.com/photos/hgroenewald/http://www.twitter.com/TalyaGoldberghttp://www.twitter.com/mirfaan


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Editors letter EDITORIAL

During this term I have realised over andover how privileged we are. I dont take it as

coincidence that numerous articles on un-derprivileged children, television shows onpoverty and the great stories within our very ownwalls of UCT have recently landed in my lap.Through my interview with Jonathan Argent, Iwas drawn to the cold realisation that we arepreparing for a long walk of learning and

hard work. But this has instead turnedwarm on my heart because I have sincerealised that we are extremely special andpart of a minor percentage of people whoCAN attend university, CAN learn and workhard. And yet, I feel that I am not alone insaying that I take it for granted. It has be-come such a trend for all high schoolleavers to migrate to universities andyes, plenty of us around South Africaemerge into students as our applica-tions are accepted to join the university and

we can afford to (through our parents/sponsors or help from financial aid depart-ments) further our studies.

However, there are many who cant and many forwhom the university experience is an honour.Speaking to the Director of EDU in the Com-merce Faculty, Dr June Pym, and afterreading some of the stories of her ex-students (included on pages...) I havebecome deeply appreciative of myopportunities in this lifetime and have

greater venom for taking on all those text-book pages of studying!

I urge you to contemplate on this in yourown life for a second, to find that gratifica-tion inside and let this motivate you for your timeahead at UCT. As Jonathan mentioned, by do-ing more, we can only benefit. In that light I amvery proud of and grateful to our new teammember, Mohammed Imamdin, who is assist-ing in making the Rands & Sense a better magazinefor YOU!

Enjoy this newly compiled edition & happy holidays!

Nicole


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The team

Our Mission:

Blah blah blahBlah blah blahBlah blah blahBlah blah blahBlah blah blahBlah blah blahBlah blah

blahBlah blah blahBlah blah blahBlah blah blahBlah blah blahBlah blah blahBlah blah blahBlah blah

blahBlah blah blahBlah blah blahBlah blah blahBlah blah blahBlah blah blahBlah blah blahBlah blahblahBlah blah blahBlah blah blahBlah blah blahBlah blah blahBlah blah blahBlah blah blahBlah blah

blahBlah blah blahBlah blah blahBlah blah blahBlah blah blahBlah blah blahBlah blah blahBlah blah

blahBlah blah blahBlah blah blahBlah blah blahBlah blah blahBlah blah blahBlah blah blah

Chairperson

Vice & Corporate relations

Academics

Secretary

Publications

Outreach

Faculty rep co-ordinator

Marketing

Treasurer

Events co-ordinator

: Dinika Govender /[email protected]

: Kennedy Kitheka /[email protected]

: Tintin Mntambo /[email protected]

: Gundani Kumbirai /[email protected]

: Nicole Botha /[email protected]

: Jean-Luc Johnstone /[email protected]

: Yasin Chetty /[email protected]

: Rabit Thithi /[email protected]

: Sibusiso Xaba /[email protected]

: Nompumelelo Ngubo /[email protected]


5/18

Csc CHAIrs letter EDITORIAL

When I was voted in as CSC Chairperson in October2008, I could not have pre-empted what a learningcurve I was about to encounter!

Having served as a first-year Faculty Rep, I knew the

ins-and-outs of the CSC quite well; and my exposure tothe inner workings of UCT fuelled me to find better waysof reaching, assisting and informing students. Havingsurvived the major transition from high school to firstyear (and first Act. Sci nogal!), I became very passion-ate about providing a commerce students- and firstyears in particular- with a more holistic, more relevantand more dynamic commerce experience. The Com-merce Student Council- as an organ of the SRCs Aca-demic Portfolio- provides a platform to do just that.Unlike other academic sub-councils at UCT, the CSCaims to do more than address the academic issuesfacing students. Our greater vision is to enrich the life of

the commerce student more holistically, and simply tocreate lasting memories of a well-rounded universityexperience provided by the CSC!

A vital ingredient for our success as a student-council isthe power of teamwork. I feel blessed to work with 9dynamic, energetic and creative executive members.We are more than portfolio managers or figureheads:we are friends and visionaries. And as a council repre-senting the interests of our faculty, what could bestronger than 10 unified voices of 10 inspired individu-als? With each member in charge of an individual port-folio- and a bit of comparative advantage in action- we

have been able to maximise and diversify our impact onthe student-body. Within the walls of our little yellowoffice were always brainstorming ways to reach you:

the Commerce Kid.

However, accomplishing these goals can be quite adaunting task for a council of ten. Thus, to help thecouncil achieve its goals as efficiently and effectively aspossible, the CSC harnessed the power of teamwork bycreating two more branches of student leaders withinthe commerce faculty: the Class-Representative Sys-tem and the Faculty-Rep system. Class Reps are oureyes and ears: elected to report academic grievances

from each and every lecture period within commerce.Faculty Reps are appointed to organize, co-ordinateand promote CSC events. Not only have these struc-tures better enabled the CSC to serve fellow commercestudents, but it has also inspired other academic coun-

cils at UCT to follow suit. The Class-representativesystem is now a vital feature in every faculty.

One of our main aims for 2009 has been to improveCSC visibility, and I am proud of the waves we havecreated through a revamped Vula site, regular e-mail

communications and a stronger presence in lectures.More students know who we are; more students knowwhat we do;and most importantly, more students cometo us first for academic assistance- where we are readyand willing to help.

As with all organisations, there are triumphs and thereare shortcomings. 2009 is no different. Having organ-ised a successfully interactive and informative MoneyTalk on May 5, we were hoping that the response forthe Annual Goldrush Party would be enthusiastic. Un-fortunately, due to the unexpected withdrawal of theEBE council on the day of the event, our events co-ordinator was suddenly placed in a pressure-cooker ofcommitments. After weighing up the cost of the eventagainst the minimal response, it was decided that tohost Goldrush on May 8 would be highly irrational. SoGoldrush had to be postponed, but that has only madeour council more determined to provide a worthwhile,winning event for the second semester. WATCH THISSPACE!

As Commerce students we have so much potential tosupplement our often tedious and draining academicschedules with an exploration of Commerce in the real

world. All it takes is a spark of curiosity and a collec-tive fire of creativity to get our hands on the best thatUCT can offer- and more!

This year the CSC is going for gold- gold that comesfrom the shining success of each individual CommerceStudent. Its about serving YOUR academic interests

and ENRICHING your commerce experience. Together,2009 can be the brightest, boldest and most fruitfulyear for CSC yet!

With that, all thats left to say is GOOD LUCK for the restof your mid-year exams! Study hard and study smart,and see you back ready for action in the 3rd Quarter!

Yours sincerely

Dinika Govender


6/18

Deans letterEDITORIAL

We have Mothers Day and Fathers Day and in the Fac-ulty of Commerce we have two days in the year when wecelebrate Students Day! This happened recently on May 19

and will again be celebrated on December 8 when we hostour Awards for Excellence evenings to give recognition tothe top achievers in the faculty.

It is always a great delight to recognise superb achieve-ment and the recent awards evening was no exception. Thisyear, however, there was a premature feeling of nostalgia

as it was my last award ceremony as Dean of Commerce.As you may know, I will be leaving the service of the Univer-sity at the end of June after nine years at UCT, my longestservice ever at one institution since I entered formal employ-ment in 1974. I will be going to Standard Bank to head uptheir executive training division in Johannesburg.

Although the Faculty that I leave behind is solid, I carry withme the unfinished task of extending extensively our footprintin the African region.

As a parting message to students I would urge you to

dream the impossible and dare to be different, but always intouch with your humanity.

When I was growing up, my mother would not let me be-come a famous fisherman, but insisted that I be a school

boy. Later, I be-came a child sol-dier, an altar boy,a banker, an aca-demic and back toeducating bankers29 years later. I

hope that my jour-ney is an inspira-tion to many thatare tempted tolook on from thesidelines. Whydont ya jump in

and mix it!

All the best,

Melvin Ayogu has a PhD in Economics from

The Ohio State University, is an Associate of

the Chartered Institute of Bankers London and

is Professor of Economics and Dean of the

Faculty of Commerce. He is co-editor of Devel-

opment Dilemmas: The methods and politicalethics of growth policy (2005) and Privatization

and Corporate Governance (2002)..


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Pump them study tunes VOX POPS

The Dark Knight

Kenny G

Regina Spektor

Kings of Leon

India arie

The Last Samurai

Pink

muse


8/18

Corporate presentationsCAREERSCourtesy, Career Development Programme

For more information on the Graduate RecruitmentProgramme,visit http://www.careers.uct.ac.za
http://www.careers.uct.ac.za/http://www.careers.uct.ac.za/http://www.careers.uct.ac.za/http://www.careers.uct.ac.za/http://www.careers.uct.ac.za/http://www.careers.uct.ac.za/http://www.careers.uct.ac.za/http://www.careers.uct.ac.za/


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Corporate presentations CAREERS

For more information on the Graduate RecruitmentProgramme,visit http://www.careers.uct.ac.za

Courtesy, Career Development Programme
http://www.careers.uct.ac.za/http://www.careers.uct.ac.za/http://www.careers.uct.ac.za/http://www.careers.uct.ac.za/http://www.careers.uct.ac.za/http://www.careers.uct.ac.za/http://www.careers.uct.ac.za/http://www.careers.uct.ac.za/


10/18

As promised from the first edition this

year, we interviewed 2008 Postgradu-ate Budget Speech Winner, JonathanArgent and were not surprised, to saythe least, to discover his love for eco-nomics. This he applied to his writingskills in orchestrating the winning es-say last year, which was based on the

topic: Tax Incentives for Investment inSouth Africa.

Digging a little deeper into his back-ground, we found the person behindthe economical thoughts and discoverthe following:

Jonathan is from Cape Town and iscurrently 24 years old. He completed

two degrees at UCT starting off bystudying CA stream of Business Sci-ence Finance from 2004 to 2006. In2007 he changed to the Non-CA op-tion and picked up additional Mathsand Economics courses in preparationfor his honours in Economics. He fur-thered the Economics route by doing aB.Com (Hons) Economics in 2008. As

he himself says his favourite courseshave been Economics and most par-ticularly the History of EconomicThought and Analysis of Survey Data.

With Jonathon ArgentINTERVIEWJonathan Argent (Economics Honours 2008)

is the winner of the 2008 Nedbank and Old

Mutual Budget Speech Competition. This

was announced by Trevor Manual at a Gala

Banquet on 11 February 2009.

Read Jonathons EssayListen to the Interview with Jonathon

Click on the links below to :

As promised from the first edition this

year, we interviewed 2008 Postgradu-ate Budget Speech Winner, JonathanArgent and were not surprised, to saythe least, to discover his love for eco-nomics. This he applied to his writingskills in orchestrating the winning es-say last year, which was based on the

topic: Tax Incentives for Investment inSouth Africa.

Digging a little deeper into his back-ground, we found the person behindthe economical thoughts and discoverthe following:

Jonathan is from Cape Town and iscurrently 24 years old. He completed

two degrees at UCT starting off bystudying CA stream of Business Sci-ence Finance from 2004 to 2006. In2007 he changed to the Non-CA op-tion and picked up additional Mathsand Economics courses in preparationfor his honours in Economics. He fur-thered the Economics route by doing aB.Com (Hons) Economics in 2008. As

he himself says his favourite courseshave been Economics and most par-ticularly the History of Economic
http://www.budgetspeechcompetition.co.za/download_files/winners_and_finalists/2008_winners/jonathan_argent.pdfhttp://www.budgetspeechcompetition.co.za/download_files/winners_and_finalists/2008_winners/jonathan_argent.pdfhttp://www.budgetspeechcompetition.co.za/download_files/winners_and_finalists/Jonathan_Argent.mp3http://www.budgetspeechcompetition.co.za/download_files/winners_and_finalists/Jonathan_Argent.mp3http://www.budgetspeechcompetition.co.za/download_files/winners_and_finalists/2008_winners/jonathan_argent.pdf


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At present he is working for the SouthAfrican Labour and Development Re-search Unit (SALDRU) at UCT andspends most of his time doing re-search work on the National IncomeDynamics Study (NIDS). He recom-mends this type of work to any pro-spective enthusiastic Analysis of Sur-vey Data students, since the experi-ence gained in that course as his hon-ours elective directed him onto thisroute.

When asked why he entered the com-petition, Jonathan replied, I entered

the competition because there is asubstantial cash prize attached to itand I found the topic interesting. I fig-ured that the worst that could happenwas that Id learn a whole lot about aninteresting topic. Prof Dave Kaplanalso presented a seminar on the topicwhich was very interesting and helpedstimulate my motivation a lot. I didnt

really have high hopes for winning, butI felt that I had covered the topic welland had a chance.

He recalls how only two postgraduateUCT students entered the categoryand that this was a small amount com-pared to the previous years, where theessay was set for the honours Macro-

economics course. Due to this reason,the essay was to be done after hoursand Jonathan assures me that it wastough getting the essay done whilefocusing on actual university requiredwork.

To be a participant meant many hoursof work on research and reading to

gather knowledge and insight into thetopic. There was assistance from Pro-fessor Kaplan in the form of a seminaron the topic which provided a better

and guided idea of what to look forand include. And then the writing be-gan...

As if that was not the most nerve-racking part, after submission the re-

sults came in waves. First the Top 20in September 2008, the Top 10 in No-vember 2008 and after an interviewround in February before the prize giv-ing evening, Jonathan only heard hiswinning name at the same time every-one else did on the evening of theprize giving.

Jonathan is pleased to say that theentire experience was very interesting.Having an opportunity to be inter-viewed and speak briefly at the prizegiving was a great experience and hewaits to see whether this experienceand recognition will open doors for himin the future. He encourages all stu-dents to enter and reminds us that the

worst thing is learning a lot about aninteresting topic of economics.

As a final question posed to an ex-UCTstudent in our faculty, we asked Jona-than whether he felt that the subjectsand courses offered at UCT preparedhim for the real world in which he nowfinds himself. Positively the honoursyear in Economics did prepare him forhis current job, but as he said, in gen-eral it is too early to judge.

I think we can all learn from his cour-age in participating in this gruellingtask of learning it is what we are herefor! Make the most of every learningexperience on this campus betweenyour friends, the world out there awaits

us we must prepare to be ready!


12/18

Following his dreamsFEATURE

During my Matric year I received a little bookas a gift entitled Always follow your dreams

and between its pages, I read Lifes circum-

stances are not always what you might wishthem to be. You may at times be lead in direc-tions that you never imagined, dreamed or de-signed. At the time it was merely a beautiful

message which inspired me to carry on with mymission to do my best and I never took its realmeaning to heart until recently when I walkedinto Dr June Pyms office director of EDUCommerce at UCT.

I cant believe that so little of us are made

known to this wonderful dimension of our fac-ulty. The Education Development Unit openedmy eyes to the spectrum of students at our uni-versity and it made me acutely aware of my

privileged background.Also known as the AD BCom Programme itaddresses the Universitys policies of equity

and excellence with the purpose being to assiststudents who are previously disadvantaged andhave experienced gaps in their education andlife skills. To be admitted into the programme, acareful process of analysis of each students

record and circumstances are done. However,despite any background issues, the student stillneeds at least a D in Pure Mathematics and

English First Language. The programme can becomplete over 3 or 4 years.

Dr June Pym and her team are actively at workfor the well-being of each of their students andas I experienced when chatting with her is ex-tremely passionate about the programmesbenefits. These include workshops, leadershipopportunities, awards, vacation work, mentor-ing, bursary connections, language and com-munication assistance and many other skills-

based help. And in reading some of the testimo-nies of previous AD students, I can see howthey can describe themselves as being part of afamily with a great support system. Dr Pym


13/18

radiates patience and kindness and it is evidenthow this runs throughout the departments staff.

I have always listened to my English friendscomplaining about their struggles at the Afri-kaans University of Stellenbosch and now itdawned on me: Imagine the great desire to go touniversity but not being able to communicate inthe lecturers language, imagine not having the

financial means to put yourself through a year oftertiary education but feel the burning desire tochange your life knocking at your heart. We areso privileged. Each one of us that are present atuniversity are part of the minor percentage of thepopulation that are learning, that have an oppor-tunity to walk onto the streets and during thesedifficult financial times lift our heads in pride ofthe achievements we have gained between thewalls of this lecture theatres.

We take it for granted. We complain. We whine.We forget our purpose. I know I do. This monthhas been full of realisations of this truth. I sharewith you today my burning desire to say Followyour dreams. Life deals you your cards bad orgood turn them ALL into ACES in your life. AndWELL DONE to Dr June and her team you areangels in disguise!

Attached the story of GIFT TEVIN, an ex-AD

student who was previously disadvantaged andhas now achieved his CA and is currently work-ing at Deloitte:

HOMEI was born in Johannesburg and raised in Alex-andra. Life was tough growing up in the town-ship. I stayed in a very small shack (four in thesame shack). When I was growing up, there washardly an income in the house and my mom was

not working. We had my stepfather in the house,who was working. Him working did not help,because he would leave us with only five randfor more than a day and expect to find some-thing to eat when he comes back. My back-ground looked very bad in my young age. It wasdifficult for a human being to believe that my lifewould ever be better.

SCHOOLGoing to school was very hard. Reasons being: Iused to walk a long distance to school. Most ofthe time, I did not have anything to eat at schooland no proper uniform to wear. You can imagine

going to school in Alex during the 1990s. Some-

times you get guys bringing guns to school, withlots of shouting outside of the school. When Ireturned from school, there will be no food to eatat my home. As a young boy, I cried most of thetime. A lot was bad in those times. I attended apublic school in Alex with no proper facilities for

learning. Most of the time at my school, we didnthave teachers in our classes. They would cometo school to drink coffee and not teach. Theydidnt have a simple library or anything to that

effect. Most of the teachers taught all the sub-jects in Sotho and Zulu. You would hardly hearanyone speaking English. This caused a lot ofdifficulties in my life, as a lot of things that Iwanted to do, want me to speak simple English,but I couldnt.

CHALLENGESChallenges I faced mostly were:

Financial difficulties: as no one really worked atmy house and most of the time we didnt have

cash to buy simple goods or food.

Language problem: Had to bridge English whenI went to UCT in 2001 and considering myschool background this was very difficult for me.

Violence problem: Alex is one of the worst town-ships of RSA when it comes to safety. Some-times when we walked out of the house toschool, youll see someone being shot just out-side your house.

Studying facilities as a matriculant: In my houseyou couldnt study at all, because our shack wasvery small for sleeping and studying. The librar-ies in Alex dont have textbooks.

PRESENT WORK:After graduating at UCT (as CADP student) Iwent to Wits to do my honours in Financial Ac-counting. I passed my honours and then joinedDeloitte and Touche in 2006 to start my articlesto fully qualify as a CA. I passed the board 2exam in 2007 and am now a qualified charteredaccountant.

I hope that every CADP student uses the oppor-

tunity that the programme offers. In a nutshell,being a CADP student was just the best. I miss itall the time.


14/18

The Budget at a glanceFEATURE

So youwant to

keep up with the conversations of those smarmygits who prance on about the governments

expenditure, tax rates, and the rest of it; but youcant be bothered to go and read up or find outabout any of it. Lazy bugger. But no worries,R&S have taken the 2009 Budget Speech,spent hundreds of hours poring, analysing andreviewing the 27 page transcript, taken out themost relevant words and terms, and chuckedthem into a nice, bright tag cloud (see the next

page) so that you can fling them around in con-versation with a knowing look the next time thebudget comes up.

Youre welcome.

The Budget Speech was presented by(then) Minister of Finance, Trevor Manuel on the11th February 2009.

A Tag Cloudor word cloud (or weighted

list in visual design) is a visual depiction of theword content of some media, and are usedtypically to describe the content of web sites.Tags are usually single words, and the impor-tance of a tag is shown with font size or colour.

Trevor Manuel is a South African politi-cian, currently serving in the Cabinet of SouthAfrica as Minister in the Presidency in charge ofthe National Planning Commission. Previouslyhe was the Minister of Finance from 1996 to2009, during the presidencies of Nelson Man-dela, Thabo Mbeki and Kgalema Motlanthe; hewas one of the country's longest-serving financeministers. In May 2009, he was re-assigned tohead up a National Planning Commission byPresident Jacob Zuma shortly after the latter's

inauguration.


15/18createdusingwordle.n

et


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1000 WORDS

hgroenewald@flickr
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17/18

Betting on the Wind FINAL WORD

correlationSource: xkcd.xom

XKCD

No project, no brand, no company exists in avacuum. You make bets about external forceswhen you build something.

If you want to cross the Atlantic by boat, you canbuild a sailboat. Your bet is that the wind will beright when it's time to sail. Or you can build amotorboat and deal with the noise and expense,but insulate yourself from the wind.

If you launch a $100 million magazine, you're

making a bet that the advertising environmentwill support you a few years down the road. Ifyou spend four years getting an advanced de-gree in computer engineering, you're making abet that there will be plenty of high-paying jobsstill waiting for you when you graduate.

If I had a hundred million dollars to invest in abusiness magazine, there's no way I'd invest ahundred million dollars in a business magazine.Why put all your chips on one medium, onesource of revenue, one model?

The external factor is not disconnected from your

bet. It is your bet, your decision. Damning the

gods of fate becauseyou made the wrong betmakes no sense. I rarely see business plans thathave a section entitled, "External forces we'redepending on." Acknowledging that things out ofyour control will change is the first step in hedg-ing your bets in advance, just in case.

Seth Godin is an American author of business books

and a popular speaker with appearances at Google,

TED and a number of charities. Godin popularized the

topic of permission marketing.

View Seth Godins blog: sethgodin.typepad.com
http://localhost/var/www/apps/conversion/tmp/scratch_8/sethgodin.typepad.com/seths_blog/2009/05/betting-on-the-wind.htmlhttp://localhost/var/www/apps/conversion/tmp/scratch_8/sethgodin.typepad.com/seths_blog/2009/05/betting-on-the-wind.htmlhttp://localhost/var/www/apps/conversion/tmp/scratch_8/sethgodin.typepad.com/seths_blog/2009/05/betting-on-the-wind.htmlhttp://localhost/var/www/apps/conversion/tmp/scratch_8/sethgodin.typepad.com/seths_blog/2009/05/betting-on-the-wind.htmlhttp://xkcd.com/552


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RANDS&SENSE MAGAZINECOMMERCE STUDENTS COUNCIL (2009)

UNIVERSITY OF CAPE TOWN

thePLATFORM
http://www.twitter.com/the_platformhttp://www.twitter.com/the_platformhttp://www.twitter.com/the_platform

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