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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

Fracking in the Karoo has advantages and disadvantages
2012-05-25

 

Dr Danie Vermeulen
Photo: Leatitia Pienaar
25 May 2012

Fracking for shale gas in the Karoo was laid bare during a public lecture by Dr Danie Vermeulen, Director of the Institute for Groundwater Studies (IGS). He shared facts, figures and research with his audience. No “yes” or “no” vote was cast. The audience was left to decide for itself.

The exploitation of shale gas in the pristine Karoo has probably been one of the most debated issues in South Africa since 2011.
 
Dr Vermeulen’s lecture, “The shale gas story in the Karoo: both sides of the coin”, was the first in a series presented by the Faculty of Natural and Agricultural Science under the theme “Sustainability”. Dr Vermeulen is a trained geo-hydrologist and geologist. He has been involved in fracking in South Africa since the debate started. He went on a study tour to the USA in 2011 to learn more about fracking and he visited the USA to further his investigation in May 2012.
 
Some of the information he shared, includes:

- It is estimated that South Africa has the fifth-largest shale-gas reserves in the world, following on China, the USA, Argentina and Mexico.
- Flow-back water is stored in sealed tanks and not in flow-back dams.
- Fracturing will not contaminate the water in an area, as the drilling of the wells will go far deeper than the groundwater aquifers. Every well has four steel casings – one within the other – with the gaps between them sealed with cement.
- More than a million hydraulic fracturing simulations took place in the USA without compromising fresh groundwater. The surface activities can cause problems because that is where man-made and managerial operations could cause pollution.
- Water use for shale-gas exploration is lower than for other kinds of energy, but the fact that the Karoo is an arid region makes the use of groundwater a sensitive issue. Dr Vermeulen highlighted this aspect as his major concern regarding shale-gas exploration.
- The cost to develop is a quarter of the cost for an oil well in the Gulf of Mexico.
- Dolerite intrusions in the Karoo are an unresearched concern. Dolerite is unique to the South African situation. Dolerite intrusion temperatures exceed 900 °C.

He also addressed the shale-gas footprint, well decommissioning and site reclamation, radio activity in the shale and the low possibility of seismic events.
 
Dr Vermeulen said South Africa is a net importer of energy. About 90% of its power supply is coal-based. For continued economic growth, South Africa needs a stable energy supply. It is also forecast that energy demand in South Africa is growing faster than the average global demand.
 
Unknowns to be addressed in research and exploration are the gas reserves and gas needs of South Africa. Do we have enough water? What will be the visual and social impact? Who must do the exploration?
 
“Only exploration will give us these answers,” Dr Vermeulen said.

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