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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

Agriculture must adapt to change

2008-11-28

At the launch of "50 years of agriculture" at the UFS were, from the left: Mr Corwyn Botha: Chairman: Agri Business Chamber and Managing Director: Cape Agri Group, Mr Motsepe Matlala, President of NAFU, Mr Hans van der Merwe, Executive Head: Agri SA, Prof. Herman van Schalkwyk: Dean: Faculty of Natural and Agricultural Sciences at the UFS, and Mr Sugar Ramakarane, Head: Department of Agriculture, Free State Province.
Photo: Lacea Loader

“The biggest factor driving agriculture today is change. Our major challenge is to adapt to this changing environment.” This was stated by Prof. Herman van Schalkwyk, Dean of the Faculty of Natural and Agricultural Sciences at the University of the Free State (UFS) during the recent celebration of the faculty’s “50 years in agriculture”.

Prof. Van Schalkwyk stated that the most important changes include power relationships in supply chains, consumer demand, new products and technology in agriculture, government action and developments in neighbouring states. “At the moment there is very little cooperation between small-scale farmers, small-scale farmers and commercial farmers and farmers and processors. There are also low levels of processing, low levels of value adding and a lack of creative thinking in agriculture," he said.

“This must change – we need comprehensive agricultural support and new business ideas in agriculture. We need better infrastructure, value chain financing and improved institutional support,” he said.

Speaking about agriculture and institutional co-operation in the Free State, Mr Sugar Ramakarane, Chief Director of the Free State Department of Agriculture, said that the UFS plays a vital role in bringing together organised agriculture in the province. “The responsibility of transforming our economy cannot be done by government alone. We need partners like the UFS to assist us with bringing together the two most important stakeholders of the agricultural sector, namely the National Farmers’ Union (NAFU) and Free State Agriculture. You can assist us with harnessing co-operation and providing practical solutions," he said

Mr Ramakarane said that his department is aware of the university’s good work with emerging farmers. “But, I want to encourage the university to help us with skills transfer and the development of the emerging farmers. You can play a vital role in developing a mentorship programme. Yours remains a central and critical role of being torch bearers in guiding the transformation agenda of our country," he said.

In his contribution on the challenges of small scale farmers in South Africa and the role of the university, Mr Motsepe Matlala, President of NAFU, said that unity in organised agriculture and working together with other stakeholders has become even more crucial with regard to the global challenges now faced by the country. “The university should take the lead in guiding all farmers on how to respond to, among others, the global financial turmoil and politics, developments in trade negotiations, food prices, input costs and the availability of energy," he said.

“If the UFS, and more specifically the Faculty of Natural and Agricultural Sciences, is to continue to play a leading role in academia as well as in the production of research that matters to the growth and development of this country, it must adopt an approach that seeks to harness the capacity of everyone in an inclusive manner. The strides already made in this regard must be applauded,” Mr Matlala said.

Speaking on the future challenges in agriculture and the role of universities, Mr Hans van der Merwe, Executive Head of Agri SA said that South Africa has not spent money on agricultural development in a long time. “We must increase our product capacity in the agricultural sector. Universities must focus on cultivating enough expertise and the skills necessary to manage the resources and capacity needed," he said. In his view, South Africa must also focus on technological advancement in agriculture as this has also been neglected in the past. He urged universities to provide best-practice education and to look at international trends in agricultural training. “That is why we should not only focus our attention on South Africa, but on southern Africa,” Mr van der Merwe said.

In conclusion to the day’s programme, Mr Corwyn Botha, Chairperson of the Agricultural Business Chamber, Managing Director of the Cape Agri Group and former Kovsie stated that: “If you want to be an example of leadership, people around you must do better because you are there. A university should evaluate itself in this context. You cannot create solutions to problems with the same attitude in which the problems were created."

Media Release
Issued by: Lacea Loader
Assistant Director: Media Liaison
Tel: 051 401 2584
Cell: 083 645 2454
E-mail: loaderl.stg@ufs.ac.za
28 November 2008

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