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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

UFS launches a Small and Medium Enterprise (SME) Observatory, first of its kind in South Africa

2013-12-04

In cooperation with its partners, the Centre for Development Support at the University of the Free State (UFS), launched the SME Observatory at a function on the Bloemfontein Campus. This initiative is the first of its kind in South Africa.

According to Willem Ellis, Director of the Centre for Development Support, this is a public-private partnership between the UFS, the International Labour Organisation (ILO) and the Department of Economic Development, Tourism and Environmental Affairs (detea), which aims to gather information for research on small and medium enterprises. “With this research we will endeavour to empower policy formulators to make the right decisions in terms of development on a local, provincial and national level,” Ellis said.

Presentations and the panel discussion at the launch covered topics such as:

How many enterprises can survive in a town?
Are entrepreneurs being set up for failure?
Is SMEs the answer to the unemployment question?
The cost of red tape: is SMEs being tied down?

To demonstrate the applicability of the enterprise architect for issues relating to enterprise policy, as well as entrepreneurship strategies, it was decided to focus the pilot phase of the observatory on towns in the Free State. Dr Daan Toerien, research associate at the Centre for Development Support, and Johannes Wessels, Project Manager of the SME Observatory, compiled the report: “50 Towns in the Free State: What the Enterprise Architecture of these towns is telling us about Entrepreneurial Space.”

In his presentation at the launch, Dr Toerien said: “The Enterprise Observatory’s prime goal is to present valuable facts and insights about enterprises in the domains it is observing.” He has developed a database that contains information on a large number of South African towns. He said that studying the enterprise architecture of towns will contribute significantly to inform the policy and strategy debate on LED and enterprise development. “These activities will add valuable data and insights to approach entrepreneurship in the Free State and, after the pilot phase, also in other provinces in South Africa. The Free State government, district and local municipalities, and the consultant fraternity serving them, should find the SME observatory’s activities of value,” he said.

Wessels said that the SME Observatory of South Africa is dedicated to base its arguments on sound theory, science and applied research; to engage policy and decision makers on an evidence-based approach; operate in a politically non-aligned mode in order to mirror truthfully the impact of policies and decisions and to partner with policy makers, entrepreneurs, public administration, think tanks, research institutions, business representatives and NGOs on building networks and alliances to promote an open and competitive enterprise environment.

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