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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

Shortage of quantity surveyors discussed at UFS
2006-03-24

During the recent visit of the Association of South African Quantity Surveyors (ASAQS) to the University of the Free State (UFS) were from the left Mr Egon Wortmann (Director: ASAQS), Prof Basie Verster (representative of the Free State on the ASAQS and head of the Department of Quantity Surveying and Construction Management at the UFS), Mr  Greyling Venter (Chairperson:  Free State branch of the ASAQS), Prof DG Brümmer(Vice-President:  ASAQS) and Mr  Patrick Waterson (President:  ASAQS).
Photo supplied

 

Shortage of quantity surveyors discussed at UFS

 “The South African building industry is experiencing an unprecedented high level of economic growth and prosperity.  This is causing a definite shortage of registered quantity surveyors,” said Mr Egon Wortmann, Director of the Association of South African Quantity Surveyors(ASAQS) during the association’s recent visit to the Department of Quantity Surveying and Construction Management at the University of the Free State (UFS).

 “This shortage is especially noticeable in local and national governments where unqualified and inexperienced staff, consultants and/or facilitators are now appointed,” said Mr Wortmann. 

 In doing so, the authorities that have adopted this approach are according to Mr Wortmann actually acting illegally and are not in compliance with the legal and statutory requirements of South Africa.  “These unprofessional practices are unproductive, it leads to frustration and is strongly condemned by the ASAQS,” he said.

 “The service delivery of these unqualified and unregistered service providers is often sub standard and does not comply to the legal requirements of the profession.  It may also result in the tarnishing of the image and high professional standards set by the quantity surveying profession,” said Mr Wortmann.

 “Universities offering programmes in quantity-surveying and construction management are also negatively affected by the high levels of activity in the building environment.  Suitable lecturing staff are leaving the academic institutions as they are attracted to better opportunities being offered in the building industry. The ability of the tertiary institutions to attract young academics, to train them and to keep them in the longer term, is therefore almost impossible”, said Prof Basie Verster, head of the Department of Quantity Surveying and Construction Management at the UFS and representative of the Free State on the ASAQS.

 According to Prof Verster the UFS supplies more than its quota of qualified quantity surveyors to the South African building industry.  “Although more than 460 students are registered in construction related programmes at the UFS, we are as the ASAQS’s concerned about the shortage of students that can enter the construction industry.  In our case, we  are experiencing a shortage in black female students,” he said.

 “Of the 460 postgraduate students, 38% are black of which 20% are female students.  Graduates do also not necessarily stay in the country.  As the UFS’s programmes are accredited overseas, a lot of our students leave the country for working opportunities elsewhere,” said Prof Verster.

 Mr Patrick Waterson, President of the ASAQS, appealed to quantity surveyors to, when they are approached, consider academic careers or to make themselves available to lecture on a part time basis.  “I also appeal to quantity-surveying practices, construction companies and developers to consider taking part in training activities,” he said.

 The ASAQS has over the years developed a proud tradition within the quantity-surveying profession. Consequently membership of this organisation is a sought after goal for many members within the building environment. International agreements with various countries are also in place whereby it is mutually agreed that local as well as overseas qualifications are mutually acceptable on a reciprocal basis. 

 A more recent addition to the list of agreements is the reciprocity agreement entered into with the Royal Institution of Chartered Surveyors which makes it possible for South African based quantity surveyors to practice in over 120 countries worldwide.

 Media release
Issued by: Lacea Loader
Media Representative
Tel:   (051) 401-2584
Cell:  083 645 2454
E-mail:  loaderl.stg@mail.uovs.ac.za 
23 March 2006

 

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