THE economic future of South Africa is looking bright with scores of budding accountants and economists set to take on the 2025 South African Reserve Bank (SARB) Monetary Policy Committee (MPC) Schools Challenge which is open to Grade 12 economics and pure mathematics learners.

The challenge, which encourages matric learners to think and be the ‘SARB governor’ for the day, started in Gauteng in 2012 and has since grown to encompass all nine provinces. More than 400 schools are expected to take on the MPC challenge this year, which is hosted by the SARB in partnership with the Department of Basic Education (DBE) and the Independent Examinations Board (IEB).

On Saturday, at the Elangeni Hotel, SARB senior editor Fadia Salie and SARB CSI officer, Azola Dayile, briefed eager learners and their educators from 55 KwaZulu-Natal schools about the requirements of the competition. Salie said the competition comes in two parts, the first being a 1000-word essay and the second being the presentation of the final MPC statement in front of judges.

“The essay must be exactly how the SARB governor makes his presentation of the bi-monthly MPC statement. All the learners must study economics and pure mathematics; we will teach them how to write the statement and analyse the data. There are four members per team consisting of a governor and three deputy governors. Their classmates and educators can help to write the statement which will be presented by the governor in the finals,” said Salie.

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Some of the benefits of participating in the challenge include learners being exposed to job opportunities available at SARB, as well as learning about the SA repo rate and monetary policy. “They get an insight into how the economy works and how SARB makes its interest rate. They need to have an international understanding of economic policy, because the team needs to be the Monetary Policy Committee for that day to present their findings to a panel of judges. So, choose your strongest speaker to be your governor and the deputy governors must be able to answer questions from the judges,” said Salie.

The essay will be marked by SARB economists and moderated by a senior SARB economist as well as a representatives from DBE and IEB. Dayile encouraged the learners to read and do thorough research ahead of writing and submitting their essays. “In both rounds, judges will be looking for an understanding of economics and the South African economy, understanding of monetary policy in South Africa and your ability to clearly articulate thoughts and ideas. The winners get great prizes including laptops, cash prizes, bursaries, stipends at university, and a certificate to show that they completed the challenge,” said Dayile.

⁠The winning school in 2024 was Panorama High School from Mpumalanga, which had an all girls team. They all passed their NSC exams with distinction, with the lowest mark being 85% and the highest 93%. For more information on the MPC Schools Challenge email sarb.mpcchallenge@resbank.co.za. Alternatively contact Azola Dayile on 012 313 3911 or Mpho Mtimkulu on 012 313 3526.

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