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16 October 2024 | Story Anthony Mthembu | Photo Supplied
Sanlam and Santam
Top 10 finalists of the Sanlam and Santam Economist of the Year competition with Dr Genius Murwirapachena (right) and Prof Johan Coetzee (left).

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

There’s more to media freedom than the Secrecy Bill
2012-05-04

4 May 2012

 “Media freedom is a universal human right. It cannot be abolished, but it should be managed.” The freedom of the media is protected by numerous formal documents, including the Universal Declaration of Human Rights and the South African Constitution, and is commemorated annually with the celebration of World Press Freedom Day.

 “As long as those in power have something to hide, media freedom will be under threat. This is a war that takes place on many fronts,” says Ms Willemien Marais, a journalism lecturer at the Department of Communication Science at the University of the Free State (UFS).

“On the one hand we have to take a stand against institutional threats such as the proposed Protection of State Information Bill. This is diametrically opposed to everything that media freedom and freedom of expression encapsulates.

“But on the other hand we also need to educate and transform our society. It is not only up to journalists to defend media freedom. Newspaper reports on the public hearings on this Bill earlier this year proved that ignorance concerning media freedom is a big threat. The lack of resistance against the Secrecy Bill from the general population clearly illustrates that people aren’t aware of what they are about to lose.”

 Ms Marais says the rise of social media and the accompanying awareness of individual freedom of expression have paved the way for more people to exercise this right. “The role of social media in the Arab Spring has been highlighted numerous times. The power of social media is undeniable – but alas, so is the lack of access to especially social media. We can only increase media literacy if we increase people’s access to the media – new and traditional.”

A high level of media literacy is also vital following last month’s recommendation by the Press Freedom Commission of a system of independent co-regulation for South Africa’s print media. This system proposes replacing government regulation with a panel consisting of representatives from the print industry as well as members of the general public. “It is abundantly clear that this system can only work if those members of the general public are media literate and understand the role of media freedom in protecting democracy.”

“The media is not a sentient being – it consists of and is run by people, and human beings are fallible. Protecting media freedom does not only mean fighting institutional threats. It also means increasing media literacy by educating people. And it means owning up to your mistakes, and correcting it.” 

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