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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 withdraws interdict against SASCO and ANCYL
2003-11-25

The Rector and Vice-Chancellor of the University of the Free State, Prof Frederick Fourie, announced today that a court order against the South African Students Congress (SASCO) and the ANC Youth League (ANCYL) had been withdrawn.

The withdrawal of the court order follows after a written statement by SASCO and the ANCYL in which they “unconditionally withdraw or retract statements threatening to render the institution ungovernable” and give their “commitment not to proceed with our threats to establish our own democratic SRC and occupy the current SRC offices”.

The UFS management obtained the court order in October after SASCO and the ANCYL refused to accept the outcome of the recent student referendum and SRC elections and threatened to disrupt the campus.

Prof Fourie also welcomed the undertaking by SASCO and the ANCYL to act in accordance with the prescribed procedures to resolve any grievance that the organisations may have, saying the UFS management remains committed to a constructive dialogue with all student organisations to manage a campus of diversity, tolerance and non-racialism.

In September students voted in a referendum to test support for a system of proportional representation (PR) for the SRC. A vast majority of students voted against the PR system, a system favoured by SASCO and the ANCYL..

Following allegations of fraud in the referendum, the UFS management asked the auditing firm PriceWaterhouseCoopers to conduct an independent audit of the ballot papers.

The auditors found that a total of 180 ballot papers out of 3513 – only 5.12% - of the votes cast - appeared to have been altered by means of erasing and then changing the student number.

According to the auditors, with all potentially altered and suspicious ballot papers excluded, a huge majority of 60,8% of students voted against the proportional representation system.

A few days after the referendum, the actual SRC election was held. However, at no stage were there any complaints from any organization about the integrity of the SRC election itself.

Despite this and the findings of the auditors, SASCO and the ANCYL refused to accept the outcome.

Law student Quintin du Plessis was elected SRC president. He welcomed the stance taken by SASCO and the ANCYL to pursue their objectives through the existing structures and said the SRC was always willing to engage with these organisations on issues of student governance.

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