Lesetja Kganyago: The Monetary Policy Committee (MPC) Schools Challenge

Speech by Mr Lesetja Kganyago, Governor of the South African Reserve Bank, on the occasion of the announcement of the winners of the Monetary Policy Committee (MPC) Schools Challenge, Pretoria, 17 August 2018.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Central bank speech  | 
22 August 2018

Programme Director, Honourable Minister of Basic Education, Ms Angie Motshekga, Deputy Governors, Heads of Department, Guest Speaker, Aisha Pandor, Colleagues from the South African Reserve Bank and the Department of Basic Education, Parents, Representatives from schools, Distinguished guests, Ladies and gentlemen

I am honoured to be standing here this afternoon as we pay tribute to some of the most outstanding Economics learners in the country.

The Monetary Policy Committee (MPC) Schools Challenge was launched as a pilot programme in 2012 by the South African Reserve Bank (SARB) in conjunction with the Gauteng Department of Basic Education (DBE). The challenge is a competition for Grade 12 Economics learners, which exposes them to how the MPC sets the repurchase (repo) rate. It also aims to increase the level of interest in Economics as a subject of choice among high school learners, and to encourage learners to pursue a career in Economics.

The SARB has since expanded the challenge to other provinces, as follows:

  • in 2014, to Limpopo Province;
  • in 2015, to the Free State Province;
  • in 2016, to Mpumalanga Province; and
  • in 2017, to the Eastern Cape, North West and Northern Cape provinces.

Today is a major milestone in the history of the MPC Schools Challenge. This is the first time that schools from all nine provinces have participated in the challenge.