Young minds share their views on the country’s economy

Jointly sponsored by Nedbank and Old Mutual, the annual competition poses challenging economic scenarios to undergraduate and postgraduate economics students from tertiary institutions across the country that they need to then research and explore.

For this year’s competition, the undergraduate essay topic asked students to share their views on the prospects for economic growth in South Africa over the medium term and to evaluate and discuss the most pertinent factors influencing growth prospects.

Furthermore, they were expected to discuss how these factors impacted South Africa’s growth during the periods 2004 to 2007 and 2015 to 2019.

The postgraduate students’ essay topic was to evaluate the impact of public infrastructure investment on economic growth based on South Africa’s post-2000 experience.

They were also asked to discuss this impact on the prospects for economic growth in the medium term.

The essays submitted provide interesting insights and offer solutions from the students to the economic and infrastructural challenges and opportunities facing South Africa.

Nedbank Chief Executive Mike Brown says the competition showcases the brilliance of economics and finance students at the country’s universities, with many of the previous winners going on to carve out successful professional, academic and business careers in South Africa and internationally.

“For South Africa to fulfil its promise and potential, it needs visionary leaders and influencers who have both a deep understanding of the economic issues we face and how to resolve them as well as a motivation towards building a stable and socially just society.

That’s why we at Nedbank are extremely proud to have supported this Competition over the past 51 years. It is evidence of our commitment to developing young leaders and enabling the youth to participate in addressing some of the issues we face, and it speaks directly to our purpose of using our financial expertise to do good for individuals, families, businesses, and society,” says Brown.

This year’s finalists were selected by a filter and adjudication panel comprised of representatives from sponsors Nedbank and Old Mutual, National Treasury, the business sector, academia, and external consultants.

All essays were initially marked by the filter panel, with the top 20 selected in each category after much debate and mutual agreement.

For Iain Williamson, Chief Executive Officer at Old Mutual, the Competition is as relevant now as it was 51 years ago. “The polycrisis environment that characterises much of our local and global landscape right now,requires thinkers who can find innovative solutions to these complex problems.

Every year, the Budget Speech Competition finalists demonstrate a natural ability for thinking outside the box to solve some of the most pressing challenges we share in the economy and society.

As Old Mutual, we are extremely proud to play a part in the development of exceptional young talent like this,” says Williamson.