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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

“To interpret is more than the ability to have mastered two languages”

2014-03-27

It is equally unfair to the accused as the victim when an untrained court interpreter is used in a court case.

In South Africa there are currently a large percentage of interpreters employed by the Department of Justice without any formal training.

While interpreting is in reality a very complex subject, the general acceptance is that everybody who is able speak two languages or more can be an interpreter.

This perception harms interpreting as a profession, as it results in most institutions appointing any multilingual person as an interpreter.

In many cases people are used to interpret into and from their third or fourth language (of which Afrikaans is one). This leads to inaccuracy and the incorrect use of expressions and terminology. Specific cognitive processes also have to be developed and practiced.

The University of the Free State (UFS) has since 2008 trained approximately 200 court interpreters in South Africa. This training includes the theory of interpreting and practical exercises, as well as the development of terminology and a basic knowledge of the legal system in South Africa.

The training provided to court interpreters by the Unit for Language Management and Facilitation, is done in conjunction with the Department of Justice and Constitutional Development and SASSETA (Safety and Security).

Apart from Afrikaans, native speakers of all South African languages are included in the training.

Much attention (rightfully) are given to interpreters who can interpret between the nine African languages and (mostly) English, but in the process the development of interpreters between Afrikaans and English was neglected, as became apparent in the past two weeks during the Oscar Pistorius case.

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