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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

Power shortage: Measures to be implemented immediately
2008-01-31

1. In order to avoid the further implementation of power sharing, electricity companies countrywide are requiring, in addition to measures announced for domestic consumers, that major power consumers save a certain percentage of power.

2. Die UFS is one of the 100 largest clients of Centlec, the local electricity distribution company. During a meeting last Thursday evening with the 100 largest clients, it was indicated that the UFS had to deliver a saving of 10%. The details are as follows:

  • Provision is made to a certain extent for an increase in electricity consumption. The calculation is done as follows: maximum consumption for 2007+6%-10%.
  • This entails a saving during peak times, as well as a saving regarding the total number of units consumed.
  • The saving is calculated on a monthly basis.
  • Saving measures must be implemented immediately (from 7 March). If electricity-saving goals are not attained, power sharing will be resumed from 10 March.

3. The UFS has been controlling its peak demand by means of an energy control system for many years. The geysers of residences and certain central air-conditioning systems were linked to the control system in order to shift energy consumption to non-peak times.

4. In order to attain the goal of 10%, it is necessary to implement further energy control systems and additional measures – which requires time and money. Attention will have to be given, inter alia, to the following:

  • The 1000+ portable air-conditioning units on the campus (huge power guzzlers) must be connected to energy control appliances and systems.
  • All the filament bulbs must be replaced.

7. The UFS will be conducting high-level talks with Centlec later this week with a view to:

  • conveying the unique needs of the UFS in detail;
  • stating the impact of building and refurbishing projects that are currently in the implementation and planning phases;
  • requesting understanding for the fact that the UFS does not have the capacity to immediately deliver the 10% saving.
     

It is evident from discussions thus far that Centlec is sympathetic and wants to help, but also that immediate action and co-operation are expected from the UFS. During the meeting, the UFS must also report back on steps already taken (since 7 March) in this regard.

8. The installation of the emergency power units for the large lecture-hall complexes and a few other critical areas, which has already been approved, is continuing. About R3m is being spent on this. Additional emergency power needs reported to Physical Resources via line managers are currently being investigated with a view to obtaining a cost estimate and subsequently determining priorities in consultation with line managers.

It is recommended that:

a) All line managers, staff members and students be requested to give their full co-operation with regard to saving electricity in every possible way, and that current operational arrangements be amended if possible with a view to promoting power saving. 

Staff, students and other users of campus facilities be requested to see to it that lights and air conditioning (individual units) in unused areas are switched off.

b) The following measures drawn up in co-operation with electrical engineers come into effect immediately:

Arrangements to be made by Physical Resources staff:
(Additional capacity to be able to complete everything within a reasonable period of time will have to be found and funded. This aspect will be taken up with the line managers concerned):

  • The geysers of all office buildings will be switched off at the distribution board. Staff are requested to use a kettle for washing dishes, and are warned not to switch appliances on again themselves.
  • In all office buildings where 12V and 15W downlighters and uplighters remain switched on for decorative purposes and do not serve as primary illumination, the light switches will be disconnected.
  • Lighting in cloakrooms will be checked, and illumination levels will be reduced if possible.
  • All light armatures must be replaced by CFL types.
  • All lights on the grounds will be checked to ensure minimum power consumption.
  • The upper limit of all central cooling systems currently regulated via the energy control system must be set to 24 degrees.

Arrangements to be made by Kovsie Sport:

  • Sport activities requiring sports field illumination must be scheduled after 20:00 in the evening (the lights may not be on between 18:00 and 20:00.)
  • Sports field illumination must be managed so that such lights are not switched on unnecessarily.
     

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