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UFS students excel in the JSE Investment Challenge

23 October 2023 | Story SAMKELO FETILE | Photo SAMKELO FETILE

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 staff get salary adjustment of 8,5%

2010-11-03

The University of the Free State’s (UFS) management and trade unions have agreed on a general salary adjustment of 8,5% for 2011. The negotiating parties agreed that adjustments could vary proportionally from a minimum of 7,5% to a maximum of 9,5%, depending on the government subsidy and the model forecasts.

The service benefits of staff will be adjusted to 10,66% for 2011. This is according to the estimated government subsidy that will be received in 2011.

The agreement was signed on Friday, 29 October 2010 by representatives of the UFS Management and the trade unions UVPERSU and NEHAWU.

An additional once-off, non-pensionable bonus of R3 000 will also be paid to staff with their December 2010 salary payment. The bonus will be paid to all staff members who were in the employment of the university on UFS conditions of service on 31 December 2010 and who assumed duties before 1 October 2010. The bonus is payable in recognition of the role played by staff during the year to promote the UFS as a university of excellence and as confirmation of the role and effectiveness of the remuneration model.

It is the intention to pass the maximum benefit possible on to staff without exceeding the limits of financial sustainability of the institution. For this reason, the negotiating parties reaffirmed their commitment to the Multiple-year, Income-related Remuneration Improvement Model used as a framework for negotiations. The model and its applications are unique and have as a point of departure that the UFS must be and remains financially sustainable.

Agreement was reached that 2% will be allocated for growth in capacity building to ensure that provision is made for the growth of the UFS over the last few years. A further 0,16% will be allocated to structural adjustments.

The implementation date for the salary adjustment is 1 January 2011. The adjustment will be calculated on the total remuneration package.

Prof. Johan Grobbelaar, Chairperson of the UVPERSU and NEHAWU mutual forum, is very pleased with the outcome and good spirit in which the negotiations, “that were concluded in a couple of hours”, took place. The 8,5% increase for 2011 means that for the past ten years the UFS staff has received a 38% increase above inflation in effect.

“Not only is this a major achievement in that the staff is much better off, but the salaries compare well with similar institutions in the country,” says Prof. Grobbelaar.

It is also with nostalgia that the negotiations took place this year, because Prof. Grobbelaar and Prof. Niel Viljoen, Vice-Rector: Operations, both retire in 2011. Prof. Viljoen was the chairperson of the UFS Council’s negotiation team for the past ten years.

Media Release

Issued by: Lacea Loader
Director: Strategic Communication (actg)
Tel: 051 401 2584
Cell: 083 645 2454
E-mail: loaderl@ufs.ac.za
3 November 2010

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