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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

South Africans can be first movers

2014-04-29

Dr Liz Lange, Prof Hussein Solomon, Minister Naledi Pandor and Prof Nicky Morgan
Photo: Johan Roux

Minister of Home Affairs, Naledi Pandor, recently addressed staff, students and members of the community at the CR Swart Auditorium, UFS.

During a public lecture hosted by the Department of Political Studies and Governance, in collaboration with the Free State Legislature, Pandor spoke about The Role of Intellectuals and Academics in moving South Africa forward. She challenged young minds to become the innovative game changers of tomorrow and stressed the importance of tertiary education and its impact on national developments.

“Our country and the world need large quantities of undergraduate institutions,” said Pandor. “We need new innovative partnerships. Private sector research and public sector research need to be married. And we as government should promote private sector development.”

Referring to the breakthrough for South Africa on Africa Day 2012, Pandor made it clear that South Africans have the potential to be first movers, although it has not always been the case. It was announced on Africa Day 2012 that Africa had been named as the preferred site for the Square Kilometre Array (SKA) radio telescope (http://www.ska.ac.za/releases/20120525.php). This undertaking contributed immensely in fuelling the interest in science and technology among South Africans.

“We cannot rely on the same things always. We as South Africans are not usually the first movers. We tend to adopt innovations from elsewhere. But, we need to do more to initiate innovative start-ups … especially in the fields of IT and high-tech innovations.”

Conclusively, this leads to the question of whether we as South African are doing enough to further build a new generation of intellectuals?

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