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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

Research helps farmers save with irrigation

2017-02-15

Description: Irrigation research Tags: Irrigation research

Marcill Venter, lecturer in the Department of
Agricultural Economics at the University of the
Free State, has developed the mathematical
programming system, Soil Water Irrigation
Planning and Energy Management in order to
determine irrigation pump hours.
Photo: Rulanzen Martin

Her advice to farmers is that they should make sure they are aware of the total cost (investment and operating costs) of an irrigation system. In most cases the investment cost is low, but the operating cost over the lifetime of the system is high.

“It is very important to have a look at the total cost and to install the most economic system,” says Marcill Venter, lecturer at the University of the Free State (UFS), who has done research on the economic sustainability of water-pipe systems.

Irrigation systems important components for farming
This research comes at a time when many farmers are relying on their irrigation systems due to persistent drought and low rainfall during 2016. South Africa has also experienced an abnormal increase in electricity tariffs in recent years. Due to tariff increases which threaten the future profitability of irrigation producers, the Water Research Commission (WRC) has launched and financed a project on the sustainable management of irrigation farming systems. “I had the opportunity to work on the project as a researcher,” says Venter.

The heart of every irrigation system is the water pipes that bring life to crops and livestock, and this is what Venter’s research is about. “Water pipes are part of the whole design of irrigation systems. The design of the system impact certain factors which determine the investment and operating costs,” she says.

Mathematical system to help farmers
Venter and Professor Bennie Grové, also from the Department of Agricultural Economics at the UFS, designed the Soil Water Irrigation Planning and Energy Management (SWIP-E) programming model as part of the WRC’s project, as well as for her master’s degree. “The model determines irrigation pump hours through a daily groundwater budget, while also taking into account the time-of-use electricity tariff structure and change in kilowatt requirements arising from the main-line design,” says Venter. The model is a non-linear programming model programmed in General Algebraic Modeling System (GAMS).

Design of irrigation system important for sustainability
The main outcome of the study is that the time-of-use electricity tariff structure (Ruraflex) is always more profitable than the flat-rate structure (Landrate). The interaction between the management and design of a system is crucial, as it determines the investment and operating costs. Irrigation designers should take the investment and operating cost of a system into account during the design process. The standards set by the South African Irrigation Institute (SAII) should also be controlled and revised.

Water-pipe thickness plays major role in cost cuts
There is interaction between water-pipe thickness, investment and operating costs. When thinner water pipes are installed, it increases the friction in the system as well as the kilowatt usage. A high kilowatt increases the operating cost, but the use of thinner water pipes lowers the investment cost. Thicker water pipes therefore lower the friction and the kilowatt requirements, which leads to lower operating costs, but thicker pipes have a higher investment cost. “It is thus crucial to look at the total cost (operating and investment cost) when investing in a new system. Farmers should invest in the system with the lowest total cost,” says Venter.

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