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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

Inaugural lecture challenges leaders in higher education

2012-10-30

Dr Mamphela Ramphele
Photo: Stephen Collett
29 October 2012

Lecture (Pdf format)

According to international statistics, South Africa’s school performance is rated 140th out of 144 countries. South Africa is also ranked 143rd out of 144 countries when it comes to the quality of mathematics and science. About 600 000 South African graduates are unemployed and about 500 000 learners are failed by our current education system.

Dr Mamphela Ramphele brought these shocking statistics to the light at the inaugural lecture of the Annual Prestige Lecture at the Faculty of Education on Thursday 25 October 2012 at the University of the Free State (UFS).

This lecture will henceforth be known as the Mamphela Ramphele Prestige Lecture.

Dr Ramphelefocused her lecture on ‘Educating the 21st century citizen’.

“One of the defining characteristics of the 21st century is the vast number of choices that confront us every day at a personal, professional and political level.”

She asked if 21st century South Africans are equipped with the skills to make the choices that confront them daily.

“The failure to transform our apartheid education into one characterized by equity and excellence, is producing graduates who lack self-confidence.”

Dr Ramphele said that in South Africa about 1/6th of government expenditure goes to education, but the outcomes remain shocking.

For Dr Ramphele the answer lies in creating platforms for open conversation about South Africa’s painful past and the agenda for radical socio-economic restructuring should include the fundamental transformation of education.

She praised the UFS, under its current inspirational leadership, for its role as change agents through the education.

Prof. Rita Niemann, senior professor at the Faculty said the Annual Mamphela Ramphele lecture is to further expand and celebrate education in South Africa.

“Dr Ramphela has given us so much food for thought by challenging leaders in higher education to speak out about the questionable state of education in South Africa and to become engaged in the ‘revolution of the spirit’ in order to deliver citizens who own and shape the country.”

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