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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

To tan or not to tan: a burning issue
2009-12-08

 Prof. Werner Sinclair

“Some evidence exists which implies that sunscreens could indeed be responsible for the dramatic rise in the incidence of melanoma over the past three decades, the period during which the use of sunscreens became very popular,” says Prof. Werner Sinclair, Head of the Department of Dermatology at the University of the Free State. His inaugural lecture was on the topic Sunscreens – Curse or Blessing?

Prof. Sinclair says the use of sunscreen preparations is widely advocated as a measure to prevent acute sunburn, chronic sun damage and resultant premature skin aging as well as skin malignancies, including malignant melanoma. There is inconclusive evidence to prove that these preparations do indeed achieve all of these claims. The question is whether these preparations are doing more harm than good?

He says the incidence of skin cancer is rising dramatically and these tumours are induced mostly by the ultra-violet rays.

Of the UV light that reaches the earth 90-95% belongs to the UVA fraction. UVC is normally filtered out by the ozone layer. UVB leads to sunburn while UVA leads to pigmentation (tanning). Because frequent sunburn was often associated with skin cancer, UVB was assumed, naively, to be the culprit, he says.

Exposure to sunlight induces a sense of well-being, increases the libido, reduces appetite and induces the synthesis of large amounts of vitamin D, an essential nutritional factor. The use of sunscreen creams reduces vitamin D levels and low levels of vitamin D have been associated with breast and colon cancer. Prof. Sinclair says the 17% increase in breast cancer from 1981 to 1991 parallels the vigorous use of sunscreens over the same period.

Among the risk factors for the development of tumours are a family history, tendency to freckle, more than three episodes of severe sunburn during childhood, and the use of artificial UV light tanning booths. He says it remains a question whether to tan or not. It was earlier believed that the main carcinogenic rays were UVB and that UVA merely induced a tan. The increase in UVA exposure could have severe consequences.

Prof. Sinclair says the UV light used in artificial tanning booths consists mainly of pure UVA which are highly dangerous rays. It has been estimated that six per cent of all melanoma deaths in the UK can be directly attributed to the use of artificial tanning lights. The use of an artificial tanning booth will double the melanoma risk of a person. “UVA is solely responsible for solar skin aging and it is ironical that tanning addicts, who want to look beautiful, are inflicting accelerated ageing in the process,” he says.

On the use of sunscreens he says it can prevent painful sunburn, but UVA-induced damage continues unnoticed. UVB blockers decrease vitamin D synthesis, which is a particular problem in the elderly. It also prevents the sunburn warning and therefore increases the UVA dosage that an individual receives. It creates a false sense of security which is the biggest problem associated with sunscreens.

Evidence obtained from the state of Queensland in Australia, where the heaviest and longest use of sunscreens occurred, boasted the highest incidence of melanoma in the world. A huge study in Norway has shown a 350% increase in melanoma for men and 440% for women. This paralleled the increase in the use of UVB blocking sunscreens while there was no change in the ozone layer. It did however, occur during that time when tanning became fashionable in Norway and there was an increase especially in artificial tanning.

Prof. Sinclair says: “We believe that sunscreen use does not directly lead to melanoma, but UVA exposure does. The Melanoma Epidemic is a reality. Sunscreen preparations are not the magical answer in the fight against melanoma and the irresponsible use of these preparations can worsen the problem.”

Media Release
Issued by: Mangaliso Radebe
Assistant Director: Media Liaison
Tel: 051 401 2828
Cell: 078 460 3320
E-mail: radebemt.stg@ufs.ac.za
7 December 2009

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