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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

Education is the key to the unification of black and white masses of South Africa

2015-11-13

From left are Dr Victor Teise (Head of School of Higher Education), Dr Mafu Rakometsi (CEO of UMALUSI), and Prof Sechaba Mahlomaholo (Dean of Faculty of Education).
Photo: Valentino Ndaba

In view of the divisive nature South Africa’s (SA) schooling system during the pre-1994 period, education appears to be one of the most potent unifying mechanisms of the democratic dispensation. With the elimination of Bantu education and the subsequent gain of access to basic and higher education by the historically-disadvantaged of this country, the schooling system is said to be building and reconstructing bridges which were burnt by the apartheid administration.

This opinion was shared by Dr Mafu Rakometsi, Chief Executive Officer (CEO) of UMALUSI – the Council for Quality Assurance in General and Further Education and Training. Dr Rakometsi, a University of the Free State alumnus, presented a guest lecture titled: “Educational transformation in South Africa – lessons for the future” on Thursday 5 November 2015 at the Bloemfontein Campus.

The discussion of salient matters regarding education and transformation was hosted by the Faculty of Education in collaboration with Institutional Advancement: Alumni.

According to Dr Rakometsi, the transformation of education in SA can be viewed in the same light as that of government; where the nationalist policy was succeeded by democracy. “Education promoted the agenda of ensuring that there was no integration of the South African population,” he said of the past.

“Simply put, in SA, the black person was denied, and deprived of, human rights,” he added. Nonetheless, the declaration of human rights as enshrined in our constitution, and the conviction held by lobby groups, such as the Black Sash, that the young should seek and receive education led to transformation within the education sector.

Although that transformation has been accomplished, poverty continues to hinder access to education. Approximately 80% of the black students in higher education are from poor families, meaning that their parents are unable to fund the completion of their studies. Financial exclusion then translates to social exclusion, which relegates these underprivileged students into narrow enclaves. This results in a counter-transformation situation as a consequence.

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