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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

SA and Indonesia strengthen educational ties

2016-05-19

Description: Embassy of Indonesia Tags: Embassy of Indonesia

From the left were Prof Hussein Solomon, Senior Professor at the Department of Political Studies and Governance; Professor Ikrar Nusa Bhakti, Research Professor of the Indonesian Institute of Sciences; Suprapto Martosetomo, ambassador of the Embassy of Indonesia to South Africa; and Prof Theodor Neethling, Head of the Department of Political Studies and Governance.
Photo: Johan Roux

“Indonesia and South Africa share one common trait which is diversity,” were the opening remarks of Suprapto Martosetomo, ambassador of the Embassy of Indonesia to South Africa. The ambassador drew parallels between the two republics at a public lecture hosted by the Department of Political Studies and Governance at the University of the Free State Bloemfontein Campus on 10 May 2016.

Professor Ikrar Nusa Bhakti, Research Professor in the Indonesian Institute of Sciences, presented the lecture on “Managing Political Diversities: The Indonesian Experience.” He outlined the history of Indonesia’s political and economic development, political system, and government’s policy in dealing with political and economic challenges, as well as the lessons learned from its experience.

Diversity and governance
As is South Africa, Indonesia is a ‘rainbow nation’. Being the largest country in the Southeast Asia, it boasts a population of approximately 250 million people, 300 ethnic groups, and 650 local languages. However, despite such diversity, the nation has been united behind the motto of “unity in diversity”, which was adopted when Indonesia proclaimed its independence in 1945.

Indonesia and SA also bear similarities in terms of a multiparty parliamentary system. Their current Joko Widodo and our Jacob Zuma administrations are governed by policies including anti-corruption, economic prosperity, equity and equality, quality education and healthcare, and maintenance of security.

International relations
The two countries have a long-standing relationship since 1955 when the Asia-Africa conference was held in Bandung, Indonesia. The conference represented solidarity against colonisation.

Prof Hussein Solomon, Senior Professor at the UFS Department of Political Studies and Governance, attributes Indonesia’s success as a product of education and leadership - something South Africa could learn from..“Indonesia like SA has been struggling with how to balance social diversity, democracy, and a political system. Despite this, they have managed to develop a functioning democracy and a vibrant economy. They are one of the top 20 economies in the world, and by the year 2035 will be in the top seven economies in the world, according to the Goldman Sachs, report,” he said.

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