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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

Housing strategy must accommodate special needs
2005-10-17

Dr Mark Napier of the Council for Scientific and Industrial Research (CSIR) 

South Africa’s housing strategy must give attention to people with special needs, including people with disabilities as well as people living with HIV / AIDS and those in poverty.

This was the view expressed by Dr Mark Napier of the Council for Scientific and Industrial Research (CSIR) during his recent presentation to the Housing Research Day organised by the Centre for Development Support (CDS) at the University of the Free State (UFS).

Dr Napier previously worked in the national Department of Housing and was involved in shaping the recently launched “Breaking New Ground” housing strategy of Minister Lindiwe Sisulu. 

He said the changing social and demographic trends in South African society, especially after 11 years of democracy, required more flexibility in housing delivery to address the housing needs of different groups of people.  “For example, there are people who wish to or may be required to be spatially mobile because of their work or other reasons. There are also those communities who are vulnerable to disasters,” he said.

According to Dr Napier, housing delivery faced a number of challenges which needed to be addressed, including:

  • the withdrawal of larger construction firms
  • perceptions of low profit margins in the private sector
  • the slow process of developing an emerging contractor sector
  • access to bridging and other finance
  • the ability to retain capacity and expertise mainly at municipal level
  • the acquisition of well located (especially inner city) land

Dr Napier said the new housing strategy – which is called “Breaking New Ground” – tries to go beyond the provision of basic shelter to the establishment of sustainable settlements. It is also tries to be more responsive to housing demand rather than being supply led.

 The new strategy also allows for greater devolution of power to municipalities in the provision of housing, through accreditation to manage subsidies, Dr Napier said. 

He said a survey of people who had benefited from government’s housing programme had shown mixed results, with beneficiaries reporting a sense of security, independence and pride.  Although the location of the houses was poor and there were increased costs, most beneficiaries said they were better off than before, according to the survey.  Beneficiaries also highlighted the problem that they had very little personal choice between houses, sites or settlements.

There was also the perceived failure of developers and municipalities to repair defective houses or adequately maintain settlements, the survey found.
Many beneficiaries also reported that they felt unsafe in their settlements as well as in their own houses.

Prof Lucius Botes, the director of the Centre for Development Support, said the research day highlighted the Centre’s ability to interact with real problems faced by communities, by government, the private sector and civil society.  “This is how we can ensure that the UFS is engaged through our research with our people’s problems and challenges and enables the UFS as a place of scholarship to assist in finding solutions,” Prof Botes said.

Media release
Issued by:Lacea Loader
Media Representative
Tel:   (051) 401-2584
Cell:  083 645 2454
E-mail:  loaderl.stg@mail.uovs.ac.za
17 October 2005   
 

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