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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

Lithium-ion batteries research set to improve ordinary lives

2016-02-11

Description: Dr Lehlohonolo Koao Tags: Dr Lehlohonolo Koao

Dr Koao is making a much-needed contribution in improving lives of ordinary people through his research on lithium-ion batteries.

The future of relevant and top-notch scientific research at the Qwaqwa Campus is in good hands. Dr Lehlohonolo Koao is one of the five members of the Vice-Chancellor’s Prestige Scholars Programme (PSP) on the Qwaqwa Campus.

The need to improve the efficiency of heating mechanisms in his immediate community in Qwaqwa, and the support he receives from the PSP, have become catalysts for his current research project on lithium-ion batteries. According to Dr Koao, the study will focus on producing batteries that last longer, store more energy, are cheaper to manufacture, and are environmentally friendly when being disposed of. These are key factors in solar energy.

‘’The majority of households in my neighbourhood have benefited from the government’s project of providing households with solar panels to help with lighting, cooking, and heating without worrying about the ever-increasing electricity costs,’’ said Dr Koao.

‘’Since my arrival in the area, I have realized that the heat absorption rate of the batteries used by solar panels is not enough. As a result, these batteries also lack enough power to sustain the supply throughout the day, especially on a cloudy day,’’ he said.

His research project focuses on improving the efficiency of lithium-ion batteries that are now commonly used in portable electronics, such as cell phones and laptops. This kind of battery is rapidly replacing the usual lead-acid batteries. Dr Koao’s determination to contribute towards a safer and more efficient heating absorption system has made him move away completely from his PhD study on lighting material.

‘’My previous study was on reducing the power usage on domestic and industrial lights as they use more electricity. This study, on the other hand, will enhance power retention in the batteries for improved daily life since cell phones, solar panels, and laptops, to mention only a few, are now a way of life,’’ he added.

Dr Koao is a Senior Lecturer in the Department of Physics, where he specializes in solid state materials.

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