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24 October 2024 | Story Anthony Mthembu | Photo Stephen Collett
Sanlam and Santam Economist of the Year’ competition
From left to right: Jaco Geldenhuys, Senior Business Manager at Sanlam; Mokai Malope, secured second place; Reatile Seekoei, winner of the 2024 Sanlam and Santam Economist of the Year competition; Tricia Khoza, secured third place; and LC Olivier, Senior Business Manager at Santam.

The inaugural ‘Sanlam and Santam Economist of the Year’ competition gala, held on 18 October 2024 at the University of the Free State (UFS) Bloemfontein Campus, has been hailed as a significant opportunity for growth. Hosted by the Department of Economics and Finance in the Faculty of Economic and Management Sciences (EMS), in collaboration with Sanlam and Santam, the event celebrated the exceptional talents of young economists.

The gala brought together representatives from Sanlam and Santam, faculty members, the top 10 competition finalists, and the department’s leading academic performers from each year group. Jaco Geldenhuys, Senior Business Manager at Sanlam, commended the participants for their dedication, noting: ’Today, we not only recognise your academic excellence but also the potential, positive impact you will have in the world.’’

Prof Johan Coetzee, Chairperson of the Department of Economics and Finance, echoed this sentiment, emphasising that the competition aims to equip graduates to become global citizens who can solve problems, think critically, and communicate effectively in a constantly changing world.

What transpired during the event

The top 10 finalists presented their analysis in a 6-minute presentation before a panel of economists from the department, demonstrating their understanding of the macroeconomic environment, the methods they used to predict key macroeconomic indicators, and the lessons they gained from the process. After these presentations, the top three finalists were chosen and were required to respond to questions from the panel, determining the overall winner.

The top three included Tricia Khoza, who secured third place, Mokai Malope, who earned second place; and Reatile Seekoei, who was named the 2024 ‘Sanlam and Santam Economist of the Year.

All three finalists expressed their gratitude for the opportunity. Seekoei shared: “Competitions like this are invaluable because they prepare us for the working world. We have gained several graduate attributes we were introduced to at the start of our academic journey.’’

In addition to recognising the top three finalists, the department also awarded certificates to its top academic achievers, ranging from first-year undergraduate students to master's candidates.

Paving the way for the future

For many of the participants, the competition provided an invaluable glimpse into the professional world, offering them a chance to apply their classroom learning to real-world economic challenges. Geldenhuys encouraged the young economists to use their knowledge to challenge inequality, promote fairness, and drive innovation and sustainable growth.

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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