In a significant boost for economic innovation, PSG Financial Services has distributed R1 million in awards to South African thinkers proposing transformative capital market solutions to drive economic growth and combat unemployment. The second annual #ThinkBigSA competition, conducted in partnership with Economic Research South Africa (ERSA), attracted unprecedented participation from across the nation’s demographic spectrum, demonstrating widespread engagement with critical economic challenges.
Competition Overview and Growing Impact
The PSG Financial Services #ThinkBigSA competition has established itself as a premier platform for generating fresh perspectives on socio-economic policy. This year’s focus on “The Role of Capital Markets in Enhancing Economic Growth and Job Creation in South Africa” prompted participants to critically assess existing systems and propose actionable solutions through comprehensive discussion papers. The competition’s growth trajectory is particularly noteworthy, with over 200 entries received—more than double last year’s participation—indicating increasing public engagement with economic policy formulation.
Participants represented a remarkable cross-section of South African society, ranging from academics and business leaders to students, retirees, and professionals from various fields. The age diversity was equally impressive, with submissions from entrants as young as 15 and as experienced as 81 years old. This broad participation underscores the competition’s success in tapping into the nation’s collective intellectual capital, much like how global organizations approach complex challenges through diverse perspectives.
Distinguished Judging Panel and Evaluation Process
The competition featured an esteemed panel of judges comprising some of South Africa’s most respected financial and economic minds. The judging committee included JSE CEO Dr. Leila Fourie, SARB Head of Economic Research and Monetary Policy Committee member Chris Loewald, 27four Group CEO Fatima Vawda, Mazi Asset Management CEO Malungelo Zilimbola, and PSG Financial Services CEO Francois Gouws. These industry leaders brought extensive expertise in evaluating proposals for their practical applicability and potential impact on South Africa’s economic landscape.
The rigorous judging process assessed submissions based on originality, analytical depth, practical implementation potential, and potential impact on both economic growth and job creation. Judges noted the exceptional quality of entries, particularly praising the sophisticated understanding of capital market mechanisms displayed by participants across different backgrounds and experience levels. This demonstrates how economic literacy has permeated various sectors of South African society, similar to how specialized knowledge has become more accessible in other fields globally.
2024 Award Winners and Their Innovative Proposals
The competition recognized exceptional contributions across multiple categories, with the top three prizes totaling R900,000. Corporate lawyer and capital markets adviser Jeannette Safi claimed the top prize of R500,000 for her paper “Move, Multiply, Matter: Unlocking the Potential of South Africa’s Capital Markets.” Her work argues that South Africa’s economic stagnation stems not from insufficient savings but from failures in channeling financial resources into productive investments.
Stellenbosch student Joshua Van Der Plank secured second place and R300,000 for his proposal “VAT Verified Revenue Notes: Rewiring South African Capital Markets To Finance SMEs And Create Jobs.” His innovative approach addresses the critical disconnect between developed capital markets and persistent unemployment by creating mechanisms to direct capital toward small and medium enterprises—the primary drivers of new employment.
Third place and R100,000 went to Durban-based call centre consultant Nondumiso Nyembezi for “Securitising Apartheid’s End: How Education District Bonds Can Unlock Inclusive Growth and Jobs.” Her proposal focuses on using innovative financial instruments to address historical inequalities while promoting economic inclusion. Additional category winners included Johannesburg equity analyst Mpho Mashishi (non-affiliated category) and firefighter Brandon Goosen (under-25 category), while matriculant Chané De Goede received special recognition for her impressive submission.
Detailed Analysis of Winning Solutions
Safi’s winning proposal presents a comprehensive framework for transforming capital markets from passive reflectors of economic conditions into active channels for growth. Her paper outlines specific mechanisms including pipeline visibility platforms, execution intermediaries, enhanced risk pricing systems, broader investor participation strategies, and innovative methods for making cash flow observable and portable. The implementation timeline targets concrete results within 12-18 months, focusing on converting financial assets into tangible growth, employment, and economic inclusion.
Van Der Plank’s second-place entry tackles the critical financing gap facing SMEs, which generate most new employment but struggle to access traditional capital due to lacking audited histories, acceptable collateral, or standardized financial metrics. His VAT Verified Revenue Note proposal represents a groundbreaking approach to securitizing future revenue streams, enabling SMEs to access capital markets while providing investors with verifiable performance data. This innovative thinking mirrors how forward-looking organizations worldwide are developing new financial instruments, similar to how visionary analysts identify emerging opportunities in technology markets.
Broader Economic Context and Global Parallels
The competition occurs against a backdrop of global economic transformation, where nations worldwide are grappling with similar challenges of stimulating growth while addressing unemployment. South Africa’s position as having one of the most developed capital market systems among emerging economies makes the disconnect between financial sophistication and labor market outcomes particularly striking. This paradox mirrors challenges faced by other nations, where advanced financial systems don’t always translate into broad-based economic prosperity.
The innovative approaches emerging from the competition demonstrate how targeted financial innovation can address systemic economic challenges, much like how other sectors are undergoing transformation. The data center industry, for instance, has seen significant evolution through strategic transactions, as evidenced by recent high-profile acquisitions that reshape market dynamics. Similarly, technological transitions require careful management, as highlighted by approaches to maintaining functionality during system updates.
Implementation Pathways and Policy Impact
ERSA has committed to converting selected submissions into formal policy briefs for distribution to its network of policymakers. This translation of innovative ideas into actionable policy recommendations represents a critical step in bridging the gap between theoretical solutions and practical implementation. The organization will facilitate direct engagement between authors and policymakers where interest in further development is expressed, creating valuable pathways for grassroots economic thinking to influence national policy.
The competition’s focus on implementable solutions with defined timelines reflects a growing recognition that economic transformation requires both visionary thinking and practical execution. This approach aligns with global trends where successful economic interventions combine innovative concepts with realistic implementation strategies, similar to how industries worldwide balance innovation with practical constraints, as seen in automotive industry transformations and responses to evolving trade dynamics.
Future Outlook and Continuing Impact
PSG Financial Services has confirmed the competition will continue annually, addressing different topical economic challenges each iteration. This long-term commitment signals recognition that sustained engagement with economic innovation is essential for addressing South Africa’s complex socio-economic landscape. The growing participation numbers and increasing quality of submissions suggest the initiative is successfully cultivating a culture of economic problem-solving among South Africans from all walks of life.
The competition’s success in attracting diverse participants while generating sophisticated economic proposals demonstrates the untapped potential within South African society. As PSG Financial Services CEO Francois Gouws noted, “We believe in the people and potential of South Africa, and we all need to step up to contribute to its growth and progress.” This commitment to harnessing national talent for economic advancement represents a powerful model for other nations facing similar challenges, much like how successful sports organizations like Paris Saint-Germain F.C. leverage diverse talents to achieve competitive excellence.
The #ThinkBigSA competition has established itself as more than just an awards program—it’s becoming a catalyst for economic innovation and a demonstration of South Africa’s capacity for homegrown solutions to national challenges. As the awarded proposals move toward potential implementation and the competition continues to evolve, it represents a significant contribution to South Africa’s economic discourse and a model for how private sector initiatives can stimulate public engagement with critical national issues.
