MPC Schools Challenge Winners Announcement
Wednesday, 31 August 2022
Speaking notes for Lesetja Kganyago, Governor of the South African Reserve Bank
(SARB)
Good afternoon esteemed guests, Bank officials, learners, and those join us online. I
wish to acknowledge the presence of colleagues from the Ministry of Basic Education
led by Minister Angie Motshekga. We are grateful for the privilege of working in
partnership with the Department of Basic Education (DBE) on the MPC Schools
Challenge. As usual, representatives from all Provincial Departments of Education
very beginning, culminating in today's announcement of
collaborated with us from the
the winners of the competition. This year, for the very first time we also extended an
invitation to independent schools through the Independent Examination Board (IEB),
and I am happy that they too could join us here today.
As some of you may recall, in 2021 we suspended the Challenge due to the COVID
pandemic. In 2021, we hosted the entire process virtually. This year we introduced a
hybrid approach, something we hope to continue to do going forward. We are pleased
that 225 schools attended the briefing sessions for learners and teachers, and 102
schools submitted essays that are required to proceed to the next level of the
competition. These essays are prepared in the same format as the SARB MPC
statement. The statement must reflect global and domestic economic conditions and
factors and reflect the decision of the learners on its Monetary Policy stance. It's
pleasing to note that essays were received from all provinces, confirming that this is
indeed a national competition.
Assessment of candidates
The essays received were subjected to a rigorous marking and moderation process.
Bank economists, representatives from the DBE and IEB participated in this process.
Eight schools made the final cut and had to present their MPC Statement to a panel
-
of judges this part of the Challenge was done in person. The judging panel was
senior staff of the Bank's
composed of Economic Research Department.
Representatives from the DBE and IEB remained in the venue throughout all learner
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presentations and deliberations by judges about the ranking of finalists a transparent
and inclusive process.
Over the years, a trend has been forming. Girls seem to make up the majority of
finalists. This year 26 out of 32 finalists are female, so that makes it more than 80%
female. This is a trend worth noting, particularly during the month of August. Officials
were also happy with the quality of presentations as well as the confidence displayed
by our finalists. If those presentation are anything to go by, the future of Central
Banking and Monetary Policy in South Africa will be in good hands. You can see
snippets of their presentations in a video that we will play at the end of the event.
I would like to pay special tribute to all the teachers who supported the learners. We
are aware that you invested a lot of effort and hard work into this project.
Congratulations to schools whose learners reached the final stages of the competition.
Your support and encouragement exposed learners to a rare experience that will leave
an indelible mark in their memories. We salute both the teachers and principals for
making a difference
MPC Challenge Objective achieved
The main purpose of the MPC Schools Challenge is to promote interest in economics
and deepen the understanding of Monetary Policy. The quality of your essays and
presentations is evidence that the objective of expanding the understanding of
monetary policy is being achieved.
To our learners, remember that nothing of value comes without an effort. Your
presence here as finalists bears testimony to your commitment, hard work and
dedication. We encourage you to pursue careers in the field of economics and central
banking.
To the judges, moderators, markers, economists and the MPC Schools Challenge
core team, congratulations on a job well done.
Thank you.