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16 October 2024 | Story Anthony Mthembu | Photo Supplied
Sanlam and Santam
Top 10 finalists of the Sanlam and Santam Economist of the Year competition with Dr Genius Murwirapachena (right) and Prof Johan Coetzee (left).

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 takes steps to address power shedding
2008-01-31

The problem of power shedding was urgently discussed by the Executive Committee of the Executive Management (Exco) during its meeting yesterday.

A report was presented by Ms Edma Pelzer, Director: Physical Resources and Special Projects, and a consulting electrical engineer about possible short, medium and long term solutions for the UFS.

This includes (a) the possible installation of equipment (eg. power generators) and (b) operating procedures to ensure the UFS’s functionality despite power shedding.

We are also in contact with Centlec to bring about the best possible arrangements for the UFS regarding the power shedding. It is possible that refined power shedding schedules will be implemented within a few weeks or a month to ensure that there is minimal disruptions at the UFS (especially during evening lectures).

In the long term it is unaffordable to generate power for the whole campus to meet everyone’s electricity needs. Only critical points will be supplied with emergency power generators.

Emergency power generation for certain critical points have already been provided for (eg. the Callie Human Centre, the evacuation of large halls, computer services, critical long term research projects, etc.). We have been doing surveys since 2006 to determine the UFS’s preparedness for “normal” power failures. The extent of the current situation has, however, taken the whole country by surprise.

Certain urgent steps were decided on yesterday. A decision was made to immediately design emergency power systems and supply it to the new examination centre and large lecture halls such as the Stabilis, Flippie Groenewoud, Agriculture building, and possibly the West Block. The delivery and installation of these systems will, however, take from three to six months.

The UFS will have to manage despite the power shedding, even after the emergency power systems have been installed and we will not be able to function as normal. Every division must devise operating procedures to deal with the power shedding without jeopardising the quality of core functions.

Bloemfontein is luckier than many other cities because Centlec is able (so far) to keep to the published schedule to a large extent.

Plans are also being made to keep staff and students continuously informed via the UFS web site about expected power shedding schedules and risks of power shedding in the course of a day.

Exco requests every faculty and support service to think about suitable operational solutions for managing their work and meetings during a power shedding.

Every line head has instructions to urgently determine the situation and needs in his or her division and indicate what practical arrangements can and must be made to schedule work around the power shedding. Every line head must provide Exco with a status report within a week.

In this way critical areas in terms of core functions and high quality service delivery will be determined and receive attention. Security systems and the safety of staff and students will also receive specific attention - this includes the residences.

In the mean time the Department of Physical Resources will carry on with a wide-ranging investigation into the extent of needs and plans and will compile a budget for the solution thereof.

Prof. Teuns Verschoor, Vice-Rector: Academic Operations, and the deans had a meeting yesterday to discuss problems and possible solutions around the power shedding in eg. computer rooms, during evening lectures, and practical classes.

Options may include eg. alternative time slots (eg. weekends) or alternative halls (eg. at the Vista Campus) for evening lectures which are affected by power shedding, or adjusted teaching methods.

Staff is requested not to install their own power generators under any circumstances. It can be very dangerous when such apparatus are linked to a building’s electrical system. The safety of staff and students and the risks of fire or injuries must also be the highest priority under all circumstances.

The Department of Physical Resources is also in the process of investigating options such as smaller power generators or ‘UPS’ apparatus as part of a broader evaluation of needs and potential solutions.

Exco wants to ensure all staff and students that this matter is receiving urgent attention and will keep on receiving it.

If there are any practical solutions about dealing with the power shedding (such as alternative ways of working) you are invited to send an e-mail to: lightsout@ufs.ac.za  

 

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