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18 November 2020 | Story Dr Nitha Ramnath | Photo Supplied
The UFS team, from the left: Monique Harcourt, Dawid Potgieter, Atalanta Watson, and Zoe Travers.

One of two teams from the University of the Free State (UFS) performed exceptionally well and made it to the top four in the extremely competitive local Chartered Financial Analyst (CFA) University Challenge.

The CFA Society South Africa recently hosted the 12th annual local edition of the CFA Institute University Research Challenge. The research challenge is an annual global competition in equity research hosted by the CFA Institute, a global representative body for chartered financial analyst (CFA) charter holders. During the research challenge, teams from different universities locally and internationally compete on three levels – more than 1 000 universities compete annually.  

"Taking part in the CFA challenge was a wonderful opportunity where we learnt new skills and gained industry-specific experience, which will be invaluable to us as we graduate and embark on our journey as professionals. We are proud to have represented Kovsies in the finals and this proved to us, once again, that hard work pays off, " said the UFS team.

Two teams of four were selected to represent the UFS during the 2020 challenge. Team selection was based on students’ performance during the first semester of their BCom Honours (specialisation in Financial Economics and Investment Management) in the Department of Economics and Finance. During the challenge, students assumed the role of a (sell-side) research analyst and had to write a concise report that covered various aspects related to the company’s business activities, structure, governance, finances, etc., which was presented via Zoom to a panel of judges from the CFA Society South Africa. 

Dr Ivan van der Merwe, the team’s adviser from the Department of Economics and Finance, commented: “It was a pleasure to work with a team that showed so much dedication and was willing to go the extra mile. The experience they gained during this challenge will stand them in good stead and it was a real confidence builder for them to successfully complete a very stressful live presentation and subsequent question session. They made us proud and set the standard for aspiring Finance students at Kovsies.” 

News Archive

ANC is not a party of the people - Mbeki
2010-08-30

 

 

“The unions in this country do not understand the political economy of South Africa. They think that the ANC is the party of the people. The ANC is the party of the black middle class. The fact that the masses vote for it does not mean they control it. The policies of the ANC favour the black middle class and the established businesses. They do not favour the working class.”

This was said by renowned economic and political commentator Mr Moeletsi Mbeki, brother of former president Thabo Mbeki, during a guest lecture he recently presented to Economics students of the University of the Free State (UFS) in Bloemfontein.

“You just have to look at the types of houses that the ANC government builds for ordinary South Africans,” he said.

“If you had a party that was a pro-working class party it would not have built these so-called RDP houses that are being built by the ANC government. The unions have all along been under the illusion that the ANC is the government of the working class and (Zwelinzima) Vavi and them are now beginning to realise that this is not the case.

“The public-sector workers are in a special dilemma. They think the ANC is their ally but at the same time they feel they are not getting any benefits out of this alliance. Therefore you are beginning to get a very acrimonious environment emerging between the public-sector unions and the government.”

Regarding the current issue of the Protection of Information Bill and the proposed media tribunal that have brought the media and the government onto a collision course, Mbeki said the ANC government was trying to muzzle the media because it wanted to safeguard corruption within government.

“The question of freedom of information is very closely linked to the rise in corruption in the government,” he said.

“What the politicians are doing is that they are trying to hide that corruption. The media in this country have been playing a very critical role in exposing cases of corruption. That is why Vavi now has bodyguards.”

He said he recently met Vavi, the General Secretary of Cosatu, surrounded by four bodyguards. He said Vavi told him that he was getting death threats because he was opposing corruption in government.

Mbeki said the economic policies of South Africa were the “worst in the world” because they benefited people who were already rich and militated against the emergence of entrepreneurs.

“In fact, one of the serious downsides of Black Economic Empowerment (BEE) is that it takes people who should normally be entrepreneurs and who should be creating new companies and new jobs, out of that space and just makes them wealthy. BEE has been a disaster because it created this massive economic inequality; it created this class of idle rich who have tons of money but do nothing,” he added.

He said the under-investment in the economy was having dire consequences in terms of unemployment and poverty. He said this, coupled with the growth of consumption that Black Nationalism was driving, was actually driving down the ability of the economy to absorb labour.

“What really lies at the bottom of our economic problems in South Africa is that we have too much of a one-party dominance of our political system. We need more competition in our political system and until we realise the policies of the ANC are not going to change,” he said.

Mbeki’s guest lecture was on the topic: Architects of Poverty: Why African capitalism needs changing.

Media Release
Issued by: Mangaliso Radebe
Assistant Director: Media Liaison 
Tel:   051 401 2828
Cell:  078 460 3320
E-mail:  radebemt@ufs.ac.za  
30 August 2010

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