Graduate wins R150k
Naape (23) scoops essay first prize
Wits graduate and future economist Baneng Naape walked away with R150,000 after scooping first prize in an economics essay competition. He explored the topic of what needed to be done to restore fiscal credibility in SA and what the impact on monetary policy and the economy would be.
Naape, from Lebowakgomo in Limpopo, a master’s of commerce graduate, and University of Cape Town student Caleb Qoyo, both 23, were the biggest winners of the Nedbank and Old Mutual competition. The competition attracts entries from visionary economics students across SA. Naape, an aspiring tax specialist, was the biggest winner in the postgraduate category, while Qoyo clinched R60,000 in the undergraduate section. Naape’s proven track record in economy-wide debates and research as well as his knowledge and understanding of various economic issues impressed the judges.
“By entering the competition I wanted to be a part of the few young people who are bold enough to address the contemporary issues in South Africa,” said Naape.
This was the third time Naape tried his luck in the competition.
In 2016, he made it to the semifinals and in 2017 he was one of the finalists.
“I am so proud of myself for not giving up. It was a challenging question. I worked very hard to come up with a killer essay,” he said. “Being part of this competition is a step closer for me as I see myself with a PhD in taxation and working as a tax specialist at the Treasury.”
He said he would use some of his winnings for his PhD and invest some of it. Nedbank CEO Mike Brown said: “The youth make up 40% of our country and our job is to create platforms like this to allow the next generation to be real engaged citizens of our country.”