UFH student stands strong in the Nedbank Budget Speech Competition

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The University of Fort Hare and the Faculty of Management and Commerce would like to congratulate Mr. Mongi Tshaka 24, for making it as a finalist of the Nedbank Budget Speech Competition. Of the Budget speech last night Mongi said the economy was not doing well at the moment. There are high levels of unemployment and sluggish economic growth. I hope the minister will prioritise on the infrastructural development because at the moment we don’t have proper infrastructure, especially in the townships. There should be a considerable portion towards the support of small, medium and micro-sized enterprises (SMMEs),” he said. He continued “the country was also losing a lot of money due to corruption that is happening in both the private and public sectors.

Launched in 1972, this year the competition celebrates its 47th year. Whilst the format of the event has evolved over the last four decades to keep up with the changing times, judges have continued to select essays written by some of the top economic minds our country has produced. Initially the competition was only open for postgraduate students, but in the early 90’s the undergraduate category was introduced.

 

Up until 2005, the winner of the postgraduate category was awarded a bursary to Cambridge University but since then a cash prize is awarded to be used for academic purposes.

The competition’s sponsors have been privileged to host some of the brightest young economists in the country, people who have gone on to significant positions both in South African and abroad. Some of our winners are now Professors or Doctors in Economics serving in the academic field, whilst others are working in the National Treasury and in top organisations both locally and overseas.

 

The results of the competition are announced at a banquet with the Nedbank and Old mutual executives, government dignitaries as well as the Minister of Finance, Minister Tito Mboweni following the delivery of the budget speech on the 20th of February. Mr.Tshaka together with Prof Munacinga Simatele were in attendance.