The winners in the different categories, namely post-graduate and under-graduate categories, were announced by the Minister of Finance, Pravin Gordhan, from a total of 20 finalists at a Cape Town gala function hosted by co-sponsors Nedbank and Old Mutual. In the post-graduate category, Leshoka Masemola, a post-graduate student from the University of Limpopo is this year’s winner in the 37th Nedbank & Old Mutual Budget Speech Competition.

In the category for under-graduates, the Runner-up Carl Veller, from the University of Cape Town received R15 000. Third place was shared between Kwanele Ngwenya from the University of Fort Hare and Romi Reinecke from Rhodes University who both won prize money worth R10 000. Runner-up in the category for post-graduates, Kristoff Potgieter, a student from the University of Cape Town, received R60 000. The third place was shared between Melissa van Rensburg from the University of Stellenbosch and David Buchanan from the University of Cape Town, who both won prize money of R25 000.

Tom Boardman, Nedbank Chief Executive congratulated the winners and praised the finalists who he believes are on the path of becoming the new leaders in the country’s economy. He said that the competition aims to make young South Africans excited about economics and about the future of our country.

“Through the Nedbank and Old Mutual Budget Speech Competition we are able to make a tangible difference in the lives of deserving young students. The winners deserve congratulations for their efforts, and we will be following their progress closely,” he said.

Post-graduates had to write an essay to the Finance Minster to discuss whether or not the inflation targeting policy framework has been successful and to look at alternative options. Under-graduates had to focus on macro- and micro-economic policy changes that would increase South Africa’s export potential. The competition is an initiative to promote socio-economic thinking and to motivate students in economics and finance to apply their minds to constructive solutions.