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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

Like Idols for scientists

2014-04-10

Kovsie student and scientist Karabelo Moloantoa recently represented the Free State in the South African finals of the FameLab competition during the Sci-Fest in Grahamstown.

Karabelo is a 24-year-old student doing his master’s in Biotechnology. He completed his Bachelor’s degree in Medical Microbiology, as well as his Honours degree in Biochemistry at Kovsies. His research is focused on Bioremediation of mine waste waters.

“FameLab is like the scientists Idols taking place annually,” says Karabelo.

“In the competition we are given three minutes to explain a science aspect to a non-science audience. There are 25 countries that participate. South Africa is the only African country participating.”

“I was called by one of my lecturers an hour before the local competition took place at the National Museum in Bloemfontein. I was actually still tired from playing volleyball the night before,” he explains. “I was unprepared and without slides, but I did my presentation.”

This was the first year Karabelo entered FameLab and although he was somewhat unprepared for the local competition in Bloemfontein, he was nominated to represent the Free State in Grahamstown at the Sci-Fest event. From the 18 semifinalists, Karabelo qualified to go the finals where the 9 finalists were competing to represent South Africa in the United Kingdom for the international finals.

“I did not win the UK trip, but I made it to the finals, which is an achievement as half of the semi-finalists could not make it to the finals,” says Karabelo.

“I feel like I have done well to represent the university and the province as a whole. It was amazing to speak in front of more than 800 people, delivering my presentation. I learnt a lot and improved my skills of communicating scientific aspects. I will definitely enter again next year.”

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