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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 its innovative thinkers
2009-11-18

Here are, from the left: Prof. Van Wyk with first-prize winners Precious Setlaba and Themba Motsoeneng and Prof. Muriel Meiring, the students’ promoter.
Photo: Stephen Collett


The University of the Free State (UFS) recently announced the winners of the Innovation Fund Competition. This national competition, which is organised by the Department of Science and Technology aims to promote entrepreneurship through the commercialisation of the innovative ideas of young entrepreneurs.

Every participating educational institution first has an in-house competition in which a total prize money of R100 000 is at stake. At the UFS 14 business plans from students were received and evaluated by six external adjudicators. The three winners now have to take part in Phase II of the competition where 60 competitors from 20 universities will compete. The winners of the National Competition will receive prizes of up to R300 000. This money must be used for the development of the innovative idea with which the prize was won.

The first prize in the UFS’s Innovation Fund Competition of R50 000 was won by Themba Motsoeneng and Precious Setlaba from the Department of Haematology for the development of low-cost diagnostic assays for thrombotic diseases and bleeding disorders with the aim of supplying these test assays at a much lower cost to pathology laboratories all over the country. “This exciting idea appealed to many of the judges, especially because it can contribute to low cost health care in the country,” says Prof. Gerrit van Wyk, organiser of the Innovation Fund Competition at the UFS. The second prize of R30 000 was won by Charl Jaftha, MSc student in Physics. He has developed a low-cost hearing aid the size of a cigarette box. It contains a microphone and electronics to amplify the sound. The third prize of R20 000 was won by Adriaan Taylor and Jaco Brink, both MBA students. They designed a two-in-one lawnmower that would enable the average gardener with a bulky garden to shred the garden refuse and recycle it through composting or disposal through the normal disposal system. “One judge called this a novel use of existing technology,” says Prof. Van Wyk.
 

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