Winners of the 54th Nedbank & Old Mutual Budget Speech Competition were announced on Wednesday evening at a gala dinner in Cape Town, held shortly after the tabling of the national budget.
The event, attended by Finance Minister Enoch Godongwana and SARS Commissioner Edward Kieswetter, brought together senior figures from government, academia and the private sector to give recognition to a new cohort of young economists engaging directly with South Africa’s fiscal and monetary policy debates.
Top achievers
In the undergraduate category, the top achievers were Msindisi Lizani of the University of Fort Hare, Matlhatsi Jood of the University of the Witwatersrand and Ainsley Kelly Geduldt of the University of the Western Cape.
In the postgraduate category, the honours went to Ashley Matandire of the University of Cape Town, Yolanda Gcaleka of the University of Fort Hare and Sikelelwa Magoda of the University of the Witwatersrand.
Essays tackle policy issues
This annual competition has been running since 1972, challenging undergraduate and postgraduate students from universities across the country to respond to policy questions aligned with the themes of the budget speech.
This year, undergraduate entrants were asked to assess whether trade protectionism, particularly higher import tariffs in developing economies, can stimulate job creation, with a focus on South Africa’s persistently high unemployment rate.
Essays explored the balance between protecting local industry and ensuring competitiveness in a globalised economy.
Postgraduate students excel
Postgraduate students examined South Africa’s inflation-targeting framework. Their submissions evaluated the appropriateness of the lower end of the target range, considered implementation constraints and drew comparisons with international experience at a time when price stability remains central to economic planning.
In this category, the panelist decided to grant all three students the first prize.
Speaking to Sunday World, Matandire said she did not anticipate the win, considering the tight competition.
Her topic for the speech was on inflation targeting, unpacking the benefits and risks of inflation targets.
“I convinced myself that I wasn’t even making it to the top three, now I had to share the stage with two other people, not even as a runner-up but as a winner. It is very mind-blowing,” said Matandire.
“Right now I am stuck between getting my master’s and getting a job, I hope I get a job offer soon. Now that I won this, I want to engage more in economics and do more research,” she added.
This was her second attempt at the competition after not making the shortlist before. She said the competition bridges the gap between a degree and securing a spot in the workspace.
Lizani, the undergraduate winner, said the competition challenged him to apply rigorous economic thinking, while Magoda, the top postgraduate, described the experience as both intellectually demanding and deeply affirming.
Talent showcase
Jason Quinn, Nedbank chief executive, said the competition was a reminder of the talent in South Africa.
“These young future economists demonstrate the curiosity, courage and analytical thinking that our country needs to navigate complex challenges. Nedbank is proud to help create a platform where emerging thinkers can step forward, be heard, and shape economic conversations,” he said.
Jurie Strydom, Old Mutual Group CEO, described the competition as part of a broader effort to deepen public-policy debate.
“The Budget Speech Competition continues to elevate emerging economists while reaffirming Old Mutual and Nedbank’s shared commitment to strengthening South Africa’s intellectual capital and deepening informed public policy dialogue.
“The 2026 top achievers illuminated fresh, thoughtful perspectives on the structural and macroeconomic challenges facing our nation and demonstrated the kind of socially attuned thinking essential for shaping South Africa’s future,” Strydom said.
