Johannesburg, 16 January 2024:
The Nedbank Old Mutual Budget Speech Competition, a cornerstone in developing economic insights and empowering young minds across South Africa’s universities, proudly reveals the top 20 finalists for its 52nd instalment. From over 200 compelling entries, a panel of expert judges meticulously selected these exceptional students, each showcasing a remarkable ability to engage with and propose innovative solutions to complex economic and societal issues.
The competition, a collaborative commitment between National Treasury, Nedbank, and Old Mutual, is a longstanding initiative spanning over five decades to nurture South Africa’s brightest minds and promote economic education and growth. Presented as an essay competition, the contest provides a platform for students to offer creative solutions to pressing economic and societal issues. Past winners have gone on to become influential economists, thinkers, business leaders and change-makers, contributing significantly to the country’s intellectual and economic landscape.
In the undergraduate category, students were asked to discuss the inflation dynamics in emerging markets over the period 2017 and 2022, as well as the implications for the conduct of monetary policy with a particular focus on South Africa.
Postgraduate students were tasked with expressing their perspectives on the “Just Energy Transition” and its potential impacts on South Africa’s economy. Their assignment involved exploring whether this transition could serve as a catalyst for the country’s growth and prosperity or, conversely, if it might be an initiative that ultimately fails.
Iain Williamson, Chief Executive Officer of Old Mutual, emphasises the competition’s significance. “This competition presents a key opportunity for our business and political leaders to hear some fresh views on some of the most pressing socio-economic issues our country and the globe are battling with while providing a springboard for young economic talent”.
Nedbank Chief Executive, Mike Brown, reflected on the competition’s legacy. “Since its inception in 1972, the competition has shaped leaders who are not only in academia but also in civil society, business, and government, influencing socio-economic policies that will take this country forward. It plays a crucial role in navigating the challenges our country faces and helps chart a course toward higher levels of inclusive economic growth”.
Competition Prizes:
Undergraduate Category:
Postgraduate Category:
This year’s undergraduates are represented by finalists from the University of Johannesburg and the University of the Witwatersrand. Postgraduates representation includes students from Fort Hare University, The University of Johannesburg, North West University, Nelson Mandela University, Walter Sisulu University, the University of Zululand and the University of the Witwatersrand.
The winners of each category will be announced during a gala scheduled for the week of the 2024 budget speech announcement, set to take place on 21 February 2024. The students will also have the opportunity to meet with various industry leaders including the Minister of Finance Enoch Godongwana.
The full list of finalists can be found here: Finalists
The competition, a collaborative commitment between National Treasury, Nedbank, and Old Mutual, is a longstanding initiative spanning over five decades to nurture South Africa’s brightest minds and promote economic education and growth. Presented as an essay competition, the contest provides a platform for students to offer creative solutions to pressing economic and societal issues. Past winners have gone on to become influential economists, thinkers, business leaders and change-makers, contributing significantly to the country’s intellectual and economic landscape.
In the undergraduate category, students were asked to discuss the inflation dynamics in emerging markets over the period 2017 and 2022, as well as the implications for the conduct of monetary policy with a particular focus on South Africa.
Postgraduate students were tasked with expressing their perspectives on the “Just Energy Transition” and its potential impacts on South Africa’s economy. Their assignment involved exploring whether this transition could serve as a catalyst for the country’s growth and prosperity or, conversely, if it might be an initiative that ultimately fails.
Iain Williamson, Chief Executive Officer of Old Mutual, emphasises the competition’s significance. “This competition presents a key opportunity for our business and political leaders to hear some fresh views on some of the most pressing socio-economic issues our country and the globe are battling with while providing a springboard for young economic talent”.
Nedbank Chief Executive, Mike Brown, reflected on the competition’s legacy. “Since its inception in 1972, the competition has shaped leaders who are not only in academia but also in civil society, business, and government, influencing socio-economic policies that will take this country forward. It plays a crucial role in navigating the challenges our country faces and helps chart a course toward higher levels of inclusive economic growth”.
Competition Prizes:
Undergraduate Category:
- 1st Prize: R60,000
- 2nd Prize: R40,000
- 3rd Prize: R20,000
Postgraduate Category:
- 1st Prize: R150,000
- 2nd Prize: R100,000
- 3rd Prize: R50,000
This year’s undergraduates are represented by finalists from the University of Johannesburg and the University of the Witwatersrand. Postgraduates representation includes students from Fort Hare University, The University of Johannesburg, North West University, Nelson Mandela University, Walter Sisulu University, the University of Zululand and the University of the Witwatersrand.
The winners of each category will be announced during a gala scheduled for the week of the 2024 budget speech announcement, set to take place on 21 February 2024. The students will also have the opportunity to meet with various industry leaders including the Minister of Finance Enoch Godongwana.
The full list of finalists can be found here: Finalists