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23 October 2023 | Story SAMKELO FETILE | Photo SAMKELO FETILE
Third year students: Sipho Majenge, Thapelo Tinte, Dr Edson Vengesai, Busisiwe Nhlapo and Tsolofelo Zwane.
Third year students: Sipho Majenge, Thapelo Tinte, Dr Edson Vengesai, Busisiwe Nhlapo and Tsolofelo Zwane.

The University of the Free State (UFS), Department of Economics and Finance in the Faculty of Economic and Management Science, has recently made headlines by achieving remarkable success in the prestigious JSE Investment Challenge competition. The 3rd-year group secured an impressive second position, while the Honours group claimed an outstanding third place. These achievements are truly commendable, given the fierce competition and rigorous evaluation of financial acumen that characterises this national competition.

The 3rd-year group, consisting of Thapelo Tinte, Sipho Majenge, Busisiwe Nhlapo and Tsolofelo Zwane, showcased their financial prowess by excelling in trading futures, a complex financial instrument that demands in-depth knowledge and expertise. On the other hand, the Honours group, comprised of Dawie Bekker, Divan Koch, Keith Tarr, and William Oosthuysen, dedicated their efforts to the stock market. These talented individuals took on the trading aspect of the competition, meticulously constructing and managing their portfolios.

The significance of the JSE Investment Challenge

The JSE Investment Challenge, organised by the Johannesburg Stock Exchange (JSE), is a prestigious national competition designed to introduce students to investment fundamentals, offering practical experience that equips them with the knowledge and skills necessary for informed decision-making in real financial markets. This educational stock trading programme also champions financial inclusion and equality by welcoming students from all fields of study. Distinguished by its association with the JSE, one of Africa's leading stock exchanges, the competition exudes credibility and prestige. Participation from universities across South Africa further enhances its national appeal. Moreover, it imparts invaluable real-world financial skills and knowledge, highlighting the participants’ ability to navigate the complexities of the stock market and effectively manage portfolios.

A test of financial prowess

In the challenge, each participating team is allocated R1 million in virtual money and is tasked with constructing a portfolio by purchasing securities on the JSE. This portfolio is closely monitored over six months, from March to September, with the team that generates the highest return across all universities declared as the winner. The rewards are enticing, with the top team receiving R30,000 and an all-expenses-covered international trip. The second and third-placed teams receive R20,000 and R10,000, respectively.

Dr Edson Vengesai plays a pivotal role as the guiding force behind the JSE Investment Challenge in the Department of Economics and Finance. He emphasises, “The success of the students in the JSE Investment Challenge reflects the institution's commitment to providing practical and relevant education. It demonstrates that the students are not only learning theory but also how to apply that knowledge in real-world scenarios. This achievement enhances the institution's reputation, particularly in the fields of finance and economics. It signifies a high-quality curriculum and a dedication to excellence in education”. 

For more information about the competition, interested individuals can contact Dr Vengesai through the Department of Economics and Finance in the Faculty of Economic and Management Sciences or via email at vengesaie@ufs.ac.za.

Dawie Bekker, William Oosthuysen, Dr Edson Vengesai, Divan Koch and Keith Tarr

Honours students: Dawie Bekker, William Oosthuysen, Dr Edson Vengesai, Divan Koch and Keith Tarr.

News Archive

UFS awards centenary bonuses to staff
2004-11-25

The University of the Free State (UFS) will award a special Centenary bonus of R3000 (three thousand rand) to all qualifying staff in December 2004 .

As far as general salary increases for 2005 are concerned, plus an inflation- based linked salary increase adjustment of 1,4 percent and a further 4,6 percent salary increase as a final dividend from the financial turn-around strategy that began in 2000, will be instituted .

  • The final percentage salary increase is dependent on whether the expected government subsidy, of which the UFS must still receive notification from the Department of Education, is received.
  • , if the expected government subsidy realizes .
  • In addition, the salaries of service workers in low remuneration groups, as well as full professors have been adjusted retroactively to 1 January 2004. This restructuring was agreed upon to address market-related backlogs for these two groups , who display the biggest backlog relative to comparable institutions . A similar professional bench-marking exercise for support service staff has not been finalised.

This agreement was signed on Wednesday 24 November 2004 between the UFS Council and the UVPERSU-NEHAWU Joint Forum regarding salary negotiations for 2005.

“With this Centenary bonus and the significant above-inflation salary increase payment the UFS wants to pay recogni se tion to the sterling role that staff

have played in a difficult period of transition and fast growth and the contributions that they made to promote excellence at the UFS to a

university of excellence,” said Prof Frederick Fourie, Rector and Vice-

Chancellor of the UFS.

He said that the extra payment of this final 4,6 percent increase due to benefit from the financial turn-around strategy means that in real terms average salaries at the UFS had increased over the past 3 to 4 years by well over more that the 15 percent target that was set initially.

According to Prof Fourie all staff members who were in the employ of the UFS on UFS conditions of service on 15 November 2004 and who assumed duties before 1 October 2004, will qualify for the bonus. The same criteria will apply as for the 2004 bonuses.

However, there are some exceptions who do not qualify for the bonus eg learning facilitators, professors extraordinary, affiliated lecturers, departmental assistants, laboratory assistants, student help, all staff appointed for less than 20 hours per week, persons who are paid on a claims basis etc.

“Although the UFS’s actual subsidy amount is not yet known, an increase of 6,6 % in the total remuneration costs was budgeted for in the budget serving before the Executive Management and Council. It was further agreed with the UVPERSU-NEHAWU Joint Forum that the first 6 % increase will be used as general pensionable salary adjustment with implementation date 1 January 2005,” said Prof Fourie.

According to Prof Fourie the agreement also applies to all staff members of the Qwaqwa and Vista campuses whose conditions of service are already aligned with those of the main campus.

Media release
Issued by: Lacea Loader
Media Representative
Tel: (051) 401-2584
Cell: 083 645 2454
E-mail: loaderl.stg@mail.uovs.ac.za
25 November 2004

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