TEACH Ambassador a winner in Budget Speech Competition

In February, TEACH Ambassador Kwanele Ngwenya was placed third in the undergraduate category of the 37th Nedbank and Old Mutual Budget Speech Competition.

Each year, students from around the country submit essays on the economy for the Budget Speech Competition. The top three essays in the postgraduate and undergraduate categories are each awarded cash prizes.

According to Old Mutual South Africa and Emerging Markets CEO Kuseni Dlamini “The competition gives young, talented and bright South Africans an opportunity to participate in the national conversation.

“It allows diversity of thought and changed paradigms to navigate a changing global and economic landscape. By nurturing a new generation of economists and economic thought we will survive the changed landscape.”

Says Ngwenya: “Students around the country who majored in Economics and related fields were given a task to answer questions meant to assist the Minister of Finance to draft the budget speech for the year.”

Undergraduate entries were required to focus on macro- and micro-economic policy changes that would increase South Africa’s export potential, as well as on the economic lessons that could be learnt from Asia.

Ngwenya says the competition was intense.

“Ten finalists were selected from the postgraduate entries and 10 from the undergraduates and we were all taken to Cape Town for the final selection process, which included interviews with the adjudicators,” he explains.

According to Ngwenya, the adjudicators were on the lookout for good presentation and communication skills – both of which he learnt through the “fierce” two-week training he had received as a TEACH Ambassador.

“It boosted my communication skills … and now I’m beginning to see how it has helped me.”

Ngwenya became a TEACH Ambassador as a result of TEACH South Africa’s intervention strategy.

“TEACH South Africa recruits young graduates who major in specific subjects like Maths, Physical Science, English etc and I majored in Maths and Physical science,” he says.

“I now work at Healdtown High School in the Eastern Cape, teaching high school Maths and Physical Science. I’ve been with them for five months and it’s going well so far.”

As third-placed winner of the Budget Speech Competition, Ngwenya received R10 000 in prize money (the overall winner received R30 000 and the runner-up R20 000).

“This prize money is going to help me a lot with my research because I am currently studying towards a master’s degree in science and agricultural economics at Fort Hare,” says Ngwenya. “Therefore, I need help in funding people who will be assisting me in collecting data, among other things. I will use some just to enjoy it, maybe go somewhere.”

Winning the competition has left Ngwenya feeling “on top of the world” and “very proud and privileged”.

“I’ve seen that hard work really pays off,” he says.