Latest News Archive

Please select Category, Year, and then Month to display items

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 researchers are producing various flavour and fragrance compounds

2015-05-27

The minty-fresh smell after brushing your teeth, the buttery flavour on your popcorn and your vanilla-scented candles - these are mostly flavour and fragrance compounds produced synthetically in a laboratory and the result of many decades of research.

This research, in the end, is what will be important to reproduce these fragrances synthetically for use in the food and cosmetic industries.

Prof Martie Smit, Academic Head of the Department of Microbial, Biochemical and Food Biotechnology at the UFS, and her colleague Dr Dirk Opperman, currently have a team of postgraduate students working on the production of various flavour and fragrance compounds from cheap and abundantly available natural raw materials.

Prof Smit explains that most of the flavours and fragrances that we smell every day, originally come from natural compounds produced mainly by plants.

“However, because these compounds are often produced in very low concentrations by plants, many of these compounds are today replaced with synthetically-manufactured versions. In recent times, there is an increasing negative view among consumers of such synthetic flavour and fragrance compounds.”

On the other hand, aroma chemicals produced by biotechnological methods, are defined as natural according to European Union and Food and Drug Administration (USA) legal definitions, provided that the raw materials used are of natural origin. Additionally, the environmental impact and carbon footprint associated with biotech-produced aroma chemicals are often also smaller than those associated with synthetically-produced compounds or those extracted by traditional methods from agricultural sources.

During the last four years, the team investigated processes for rose fragrance, vanilla flavour, mint and spearmint flavours, as well as butter flavour. They are greatly encouraged by the fact that one of these processes is currently being commercialised by a small South African natural aroma chemicals company. Their research is funded by the Department of Science and Technology and the National Research Foundation through the South African Biocatalysis Initiative, the DST-NRF Centre of Excellence in Catalysis and the Technology Innovation Agency, while the UFS has also made a significant investment in this research.

Back

Economic and Management Sciences

Education

Health Sciences

The Humanities

Law

Natural and Agricultural Sciences

Theology and Religion

Open Distance Learning

Business School

We use cookies to make interactions with our websites and services easy and meaningful. To better understand how they are used, read more about the UFS cookie policy. By continuing to use this site you are giving us your consent to do this.

Accept