The 53rd Nedbank and Old Mutual Budget Speech Competition, a prestigious annual event celebrating academic excellence and innovative thinking, announced the winners of this year’s competition at a gala dinner in Cape Town tonight.

The postgraduate winner of this year’s competition, Wits University graduate, Adriano Manferdini said: “Winning the Nedbank & Old Mutual Budget Speech Competition is an incredible honour and a testament to my passion for economics. This journey has been both challenging and rewarding, pushing me to think critically about economic issues that shape our society.” “Beyond the competition, the opportunity to engage with fellow finalists and hear their diverse perspectives has been truly enriching. This experience has deepened my commitment to using economics as a tool for meaningful change, and I am excited for what lies ahead,” added Adriano.

Postgraduate students deliberated on the prospects for medium-term economic growth in South Africa amid the possibility of a coalition government at national level. With aspirations of becoming a macroeconomist or portfolio manager, Adriano’s well-articulated essay secured him the coveted first-place prize of R150 000 in the postgraduate category.

In the undergraduate category the winner was Malesela Nombewu, a student from the University of Johannesburg. Undergraduate students wrote about the implications of public debt on government finances in developing economies, with a focus on South Africa. Malesela takes home R60 000.

Expressing his joy following the announcement, he said: “The joy of winning the 53rd Nedbank and Old Mutual Budget Speech competition is unparalleled. To emerge triumphant amongst the other nine talented finalists who participated in the competition 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. I feel honoured to have been given a platform to share my views and research. 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, from whom I learnt a lot about the field of economics. The entire experience inspired me to be courageous enough to take part in conversations and spaces where our country’s complex economic and socio-political problems are scrutinised and where innovative solutions aimed at addressing such problems are conceptualised,” added Malesela.

The Competition also recognised the outstanding essays presented by fellow participants in the undergraduate category, awarding 2nd place to Angelina Erasmus and 3rd place to Nomfundo Mfeka, who both completed their studies at Wits University. Their contributions have earned them prizes of R40 000 and R20 000 respectively.

Exceptional work by Tšhegofatšo Matloga and Shuaib Mahomed was cited by the judges who named them 2nd and 3rd respectively for their essays in the postgraduate category. They will receive R100 000 and R50 000 respectively.
Speaking at the Gala dinner, Finance Minister Enoch Godongwana said he applied principles of golf in approaching the Budget he delivered. “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. What was the ball? The ball was fiscal consolidation, reducing debt to GDP,” he said.

Addressing the finalists, he commended their achievements and wished them well with their studies.
Nedbank CE Jason Quinn congratulated the winners for their commitment and ingenuity in applying their minds to the issues of the day in their essay submissions.

“Nedbank remains proud of our support of the Budget Speech Competition as a flagship programme aimed at discovering young talent, supporting efforts to build state capacity and speaking to our purpose to use our financial expertise to do good,” said Quinn.
“Very well done to the winners, and to each of the finalists, who indeed showed a tremendous commitment to grappling with the issues and opportunities of the day, no matter how daunting or complex. Like many finalists and winners before them, I have no doubt that these impressive young people will take up roles as senior public servants and leaders of industry in the future, and we look forward to watching their careers with keen interest as they do,” added Quinn

Old Mutual CEO, Iain Williamson said: “The Nedbank and Old Mutual Budget Speech Competition is more than just an academic contest, it is a platform that challenges young minds to engage with real economic issues and contribute fresh perspectives to the national discourse. This year’s winning essays reflect the depth of talent and critical thinking among South Africa’s future leaders, particularly in navigating complex topics like coalition governance and sustainable public finance. At Old Mutual, we believe that fostering this kind of intellectual rigour is key to building a stronger, more resilient economy. Congratulations to all the winners—your ideas and insights will shape the economic landscape of tomorrow.”

About the Competition: The Nedbank Old Mutual Budget Speech Competition has been a key initiative in promoting thought leadership in Economics and Social Sciences in South Africa since launching in 1972. Through this unique scholarship programme, the competition promotes principles of sustainable economic development and develops future leaders in Economics, with a focus on young black university students. It also aims to promote interest in Economics as a field of study and career path.