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The University of the Free State (UFS) continues to strengthen its global academic footprint as its students gain international recognition through the prestigious Ernst Mach Grant and the expanding Consecutive Master’s Degree Programme in International Finance. The 2025/2026 academic year marks the third consecutive year that UFS students have secured the highly competitive Ernst Mach Grant, a testament to the University’s growing reputation for academic excellence and global competitiveness.

One of this year’s recipients, Richard Molefe, is currently completing a BCom (Honours) in Finance at UFS, having previously obtained an undergraduate degree in Investment Management and Banking. Through the Ernst Mach Grant, he will pursue further studies at the Salzburg University of Applied Sciences (SUAS) in Austria from February 2026, focusing on finance within an international and applied European context.

Administered by Austria’s Agency for Education and Internationalisation, the Ernst Mach Grant promotes academic mobility and fosters international collaboration by enabling high-performing students to study at Austrian higher education institutions. The programme is highly selective and attracts applicants from across the world.

For Richard, the award represents both an academic milestone and a personal affirmation. “I applied for the Ernst Mach Grant to broaden my academic perspective and gain global exposure. Receiving it is a great honour and a reminder that South African students can compete and excel internationally,” he says.

His participation aligns closely with his long-term academic and professional aspirations. Richard views finance not only as a technical discipline, but as a powerful tool for economic development and inclusive growth. “This opportunity supports my goal of building a career in finance that contributes meaningfully to economic development, both locally and globally,” he explains. By engaging with European financial systems and applied learning models, he will gain critical insights that can be translated back into the South African and broader African context.

Richard’s achievement forms part of a longstanding collaboration between the Department of Economics and Finance at UFS and the Salzburg University of Applied Sciences. Since 2008, the partnership has focused on developing globally minded graduates with strong intercultural competencies and an appreciation for the sustainable management of resources in a rapidly changing world.

Prof Johan Coetzee, Chairperson of the Department of Economics and Finance, emphasises the strategic value of the grant.  “The Ernst Mach Grant is central to the internationalisation strategy of the faculty of Economic and Management Sciences (EMS) and the Department of Economics and Finance. We want to position the faculty as a faculty of choice, particularly considering the global study exchange opportunities available to our students,” he says.  

He adds that the department is actively expanding partnerships with additional universities across Europe to further strengthen the faculty’s global engagement and research profile.

A cornerstone of this collaboration is the Consecutive Master’s Degree Programme in International Finance, which offers students a robust academic environment shaped by both African and European perspectives. In addition to Richard’s achievement, three more UFS students - Ayanda Mhlauli,  Anika Horn, and Shoaib Malek, all completing their BCom degrees - will begin their studies at SUAS in February 2026 as part of the programme’s fourth cohort. They will pursue an MA in Business with a specialisation in Financial Risk Management through the joint initiative between the UFS Department of Economics and Finance and the SUAS Department of Business and Tourism.

Including the current cohort, nine UFS students have been admitted into the programme. Three students will graduate in 2025, with a further three set to graduate in 2026.

As UFS celebrates its continued success with the Ernst Mach Grant and the growth of its consecutive international degree pathway, these achievements reaffirm the university’s commitment to preparing graduates who are globally competitive, socially conscious, and academically excellent.