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Inaugural ‘Sanlam and Santam Economist of the Year’ competition gala celebrates future economists

24 October 2024 | Story Anthony Mthembu | Photo Stephen Collett

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

UFS researchers are producing various flavour and fragrance compounds

2015-05-27

The minty-fresh smell after brushing your teeth, the buttery flavour on your popcorn and your vanilla-scented candles - these are mostly flavour and fragrance compounds produced synthetically in a laboratory and the result of many decades of research.

This research, in the end, is what will be important to reproduce these fragrances synthetically for use in the food and cosmetic industries.

Prof Martie Smit, Academic Head of the Department of Microbial, Biochemical and Food Biotechnology at the UFS, and her colleague Dr Dirk Opperman, currently have a team of postgraduate students working on the production of various flavour and fragrance compounds from cheap and abundantly available natural raw materials.

Prof Smit explains that most of the flavours and fragrances that we smell every day, originally come from natural compounds produced mainly by plants.

“However, because these compounds are often produced in very low concentrations by plants, many of these compounds are today replaced with synthetically-manufactured versions. In recent times, there is an increasing negative view among consumers of such synthetic flavour and fragrance compounds.”

On the other hand, aroma chemicals produced by biotechnological methods, are defined as natural according to European Union and Food and Drug Administration (USA) legal definitions, provided that the raw materials used are of natural origin. Additionally, the environmental impact and carbon footprint associated with biotech-produced aroma chemicals are often also smaller than those associated with synthetically-produced compounds or those extracted by traditional methods from agricultural sources.

During the last four years, the team investigated processes for rose fragrance, vanilla flavour, mint and spearmint flavours, as well as butter flavour. They are greatly encouraged by the fact that one of these processes is currently being commercialised by a small South African natural aroma chemicals company. Their research is funded by the Department of Science and Technology and the National Research Foundation through the South African Biocatalysis Initiative, the DST-NRF Centre of Excellence in Catalysis and the Technology Innovation Agency, while the UFS has also made a significant investment in this research.

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