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UFS to host inaugural ‘Sanlam and Santam Economist of the Year’ gala event

16 October 2024 | Story Anthony Mthembu | Photo Supplied

The Department of Economics and Finance, within the Faculty of Economic and Management Sciences (EMS) at the University of the Free State (UFS), in collaboration with Sanlam and Santam, will host the inaugural ‘Sanlam & Santam Economist of the Year’ competition gala event on 18 October 2024. The event, to be held on the UFS Bloemfontein campus, marks the exciting conclusion of this prestigious competition.

About the competition

Prof Johan Coetzee, Chairperson of the Department of Economics and Finance at UFS, explained that the competition, launched in July 2024, is an initiative of the department, sponsored by Sanlam and Santam. ‘’The competition aims to equip our graduates with the essential skills required for the modern workplace, including presentation, communication, problem-solving, and critical thinking skills,” said Prof Coetzee. He also highlighted plans to extend the competition to schools, saying, “We are looking forward to broadening the platform to include school-level participants.”

In addition, Prof Coetzee noted that the competition is designed to train students to become highly skilled economists capable of navigating the challenges of the Fourth Industrial Revolution (4IR).

The competition sees students - ranging from first-year undergraduates to those pursuing master's qualifications within the department - competing against each other by making predictions on key macroeconomic indicators. A schedule of these indicators is provided, and students must predict their values on an online platform before the official release of each indicator. Points are awarded based on the accuracy of their predictions, with the top 10 competitors progressing to the final stage.

Gala event highlights

Representatives from Sanlam and Santam, the Department of Economics and Finance, the top 10 finalists, and the department’s top academic performers from each year group will attend the gala event. “Besides recognising the competition winners, we will also honour our top academic achievers. As a department, we acknowledge the importance of recognition, and we are proud to be the academic home of these outstanding students,” Prof Coetzee added.

The top 10 finalists will each deliver a six-minute presentation to a panel of four economists from the department, after which the top three finalists will be announced. These finalists will then answer an additional question, and the final judging will determine the winner of the ‘Sanlam and Santam Economist of the Year’ title. The winner will also receive the largest cash prize.

In addition to the awards, Sivuyile Nzimeni, a data analyst within the EMS faculty and the developer of the competition platform, will address the audience. Nzimene will discuss the development of the platform and plans for its expansion.

News Archive

Renewable energy systems an economical investment for the UFS

2017-06-14

Description: Renewable energy Tags: Renewable energy

The Qwaqwa Campus Arena equipped with freestanding
roof solar panels.
Photo: iFlair Photography

Renewable energy systems are said to be very expensive to implement initially, but in the long run they provide high economic returns.

With their decision to install renewable energy, the University of the Free State Department of Facilities Planning has now also adopted this innovative technology. They have chosen less capital-intensive solar power-generating options to generate electricity in various buildings and parking areas on all three UFS campuses.

“As per the UFS Energy Management Policy, all designs incorporate efficient, renewable energy sources varying from LED lights to solar power,” says Anton Calitz, Electrical Engineer in University Estates’ Department of Facilities Management.

South Campus taking the lead in renewable energy usage
In December 2016, a total of 26 solar-driven LED street-light poles were installed at the recently built Legae Residence’s parking area and the perimeter security area on the South Campus. This low-maintenance system improves security after dark and is independent of the national power supply, which is an important advantage during power outages. With no requirements for major earthworks and cable setting, operational costs are reduced.

The recently built infrastructure also takes pride in being the first to have a greywater system installed. This system will also be installed at three other residences on the Bloemfontein Campus in 2017. Greywater is made up of bath, shower, and bathroom sink water. The water is reused for toilet flushing, as well as for irrigation purposes.

Various UFS electrical operations to depend on solar power
On the Bloemfontein and Qwaqwa Campuses, the computer laboratories as well as the Thakaneng Bridge Student Centre and the projected Afromontane Research Centre will be equipped with freestanding roof solar solutions during 2017. These systems are designed to operate independently of the power grid (Eskom).

The systems only operate during sunlight hours when the PV solar panels are heated by the sun, making them suitable for operations such as ventilation fans, water pumps, and small circulation pumps for solar thermal water-heating systems.

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