53rd Nedbank and Old Mutual Budget Speech Competition winners announced
This prestigious annual event celebrating academic excellence and innovative thinking, announced the winners of this year’s competition at a gala dinner in Cape Town, 12 March 2025.
Beyond the competition, the opportunity to engage with fellow finalists and hear their diverse perspectives has been truly enriching.
The event once again showcased the power of youth to shape South Africa’s economic future through bold ideas and critical thinking.
The postgraduate category’s top honour was awarded to Wits University graduate Adriano Manferdini, whose compelling essay explored the prospects for medium-term economic growth in South Africa amid the potential rise of coalition governance. His prize-winning piece earned him R150,000 and the admiration of leading figures in finance and policy.
“Winning the Nedbank & Old Mutual Budget Speech Competition is an incredible honour and a testament to my passion for economics,” said Manferdini.
He added, “This journey has been both challenging and rewarding, pushing me to think critically about economic issues that shape our society.”
He also praised the enriching opportunity to engage with other finalists: “This experience has deepened my commitment to using economics as a tool for meaningful change, and I am excited for what lies ahead.”
In the undergraduate category, Malesela Nombewu, who hails from the University of Johannesburg, emerged victorious, securing a R60,000 prize for his insightful essay on the implications of public debt on government finances in developing economies, with a focus on South Africa.
“The joy of winning the 53rd Nedbank and Old Mutual Budget Speech Competition is unparalleled,” said Nombewu. “To emerge triumphant among nine other talented finalists feels incredible. This competition offered me the opportunity to participate in the country’s economic discourse at a grander stage and to share my insights.”
He added, “I met exceptional young people who will undoubtedly be leaders of this country in the near future, and I also got to meet leading figures in the field. The entire experience inspired me to take part in conversations where our country's complex problems are tackled and innovative solutions are conceptualised.”
The competition also recognised second and third place in both categories. In the postgraduate division, Tšhegofatšo Matloga and Shuaib Mahomed were awarded R100,000 and R50,000, respectively. In the undergraduate category, Wits students Angelina Erasmus and Nomfundo Mfeka took home R40,000 and R20,000.
Finance Minister Enoch Godongwana attended the gala and shared reflections on his budget approach, likening it to golf: “When you play golf, you must keep your eyes on the ball, keep your head down. I kept my eyes on the ball and followed through. The ball was fiscal consolidation, reducing debt to GDP.”
Nedbank CEO Jason Quinn praised the finalists for their ingenuity, stating, “We are proud to support a programme that discovers young talent and builds state capacity. These impressive young people will undoubtedly become leaders in the future.”
Old Mutual CEO Iain Williamson echoed the sentiment: “This competition is a platform that challenges young minds to engage with real economic issues. Their ideas and insights will shape the economic landscape of tomorrow.”
Launched in 1972, this competition continues to promote excellence in economics among young South Africans and plays a crucial role in cultivating the country’s next generation of economic leaders.