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23 August 2019 | Story Valentino Ndaba
UFS Accountancy students
The UFS School of Accountancy is fast becoming one of the best in the country.

Becoming a Chartered Accountant (SA) entails successfully completing the rigorous education and training requirements set by the South African Institute of Chartered Accountants (SAICA). As part of these requirements, all prospective CAs are required to write SAICA’s challenging Initial Test of Competence (ITC). A total of 83 graduates from the University of the Free State (UFS) passed the 2019 ITC examinations, making the Kovsie community and School of Accountancy proud.

Prof Frans Prinsloo, the Director at the UFS School of Accountancy, applauded the successful graduates – of whom 39 are African, five coloured, one Indian, and 38 white. “More than 55% of our graduates who wrote the exam are black (African, coloured and Indian), demonstrating that our emphasis on building the pipeline of under-represented prospective Chartered Accountants (SA) is paying off in terms of both racial and gender inclusion.”

Rising above the ultimate test

SAICA released the results of the June 2019 ITC examination on Friday 16 August 2019. The ITC examination is the first of two professional examinations required for qualification as a Chartered Accountant (SA), and is written shortly after completion of formal university studies. There are two sittings of this examination annually, in January and June.

Compared to the national average pass rate of 75.4% for the 2019 ITC examinations, UFS BAcc Honours and Postgraduate Diploma in Chartered Accountancy graduates delivered a superior performance. The 94.7% pass show that our graduates are a force to be reckoned with.

Upping standards
More than 10 of the Thuthuka Bursary Programme graduates of 2018 who wrote the 2019 ITC examinations, passed, which translates into a 92% pass for this group. Such an achievement also confirms the success of the bursary programme ‘wraparound support’ interventions, by delivering results well in excess of the national average. These interventions also extend to the development of professional skills essential for the corporate world – thereby ensuring that these graduates are not only technically strong, but ‘work-ready’.

Best in the business of excellence
“These results place the UFS School of Accountancy amongst the best in the country in terms of Chartered Accountancy education, and is testament to the hard work of the academic staff and the quality of our CA programme,” says Prof Prinsloo.

News Archive

Alumni in the financial sector: money talks!
2016-12-26

Description: Marina Marinkov Tags: Marina Marinkov 

Marina Marinkov, Economist at the
International Monetary

Description: Evangelina Nailenge Tags: Evangelina Nailenge

Evangelina Nailenge, General
Manager: Investment Institutions at
Namibia Financial Supervisory Authority.

Description: Vuyelwa Vumendlini Tags: Vuyelwa Vumendlini

Vuyelwa Vumendlini, Chief Director:
Global and Emerging Markets, National
Treasury.

Description: Meshach Aziakpono Tags: Meshach Aziakpono

Prof Meshach Azaikpono, Professor of
Development Finance, University of
Stellenbosch.

Description: Anton Nicolaisen Tags: Anton Nicolaisen

Anton Nicolaisen, Provincial Head for
the Free State Province, Standard Bank.

Where are they now?

On good days, most of us battle to set our personal finances straight,  let alone be responsible for a large enterprise. So we are extremely proud of the well-trained and talented Kovsie alumni who fill prominent shoes. Operating mostly away from the public eye, they make decisions to improve the economy on various levels. It is heartening to know that the UFS contributes to financial matters and training all across the globe.  

Marina Marinkov


Courses: BCom (Economics), BCom Hons (Money and Banking), and MCom (Economics) (2000-2004)
Current position:
Economist at the International Monetary Fund
Biggest career obstacle: I once worked for an organisation with poor leadership which negatively affected employee morale and job performance. It still proved to be a great learning experience, though. Bad bosses can teach us powerful lessons.
Best career advice:
Stop doubting yourself, work hard and be humble.
Fondest memory of UFS: Time spent on campus with my classmates, whether studying for finals at the library or just catching up between classes. The UFS was also my first employer and I have plenty of wonderful memories with colleagues at the Department of Economics.


Evangelina Nailenge

Courses: BCom Hons (Money and Banking) MCom (Money and Banking) (2005-2006)
Current position: General Manager: Investment Institutions at Namibia Financial Supervisory Authority
Biggest career obstacle: At times, being one of the youngest requires you to work twice as hard to earn your voice and cue at the decision-making table.
Best career advice: “Whatever your hand finds to do, do it with all your might, for in the realm of the dead, where you are going, there is neither working nor planning nor knowledge nor wisdom.” Eccl. 9:10
Fondest memory of UFS: Walking around the campus. Its well-manicured lawns and gardens had a calming effect in the midst of academic pressures. I will forever treasure the moment I first saw my name engraved in the walls of FGG, as the best postgraduate student for both 2005 and 2006.

Vuyelwa Vumendlini

Course: BCom Hons (Economics) (1996-1999)
Current position: Chief Director: Global and Emerging Markets, National Treasury
Biggest career obstacle: Doubting your own capabilities.
Best career advice: The sky is the limit, go for it all out, but most importantly, do something that you are passionate about it. It makes your work much more meaningful.
Fondest memory of UFS: Working as a tutor in my honours year and being able to help other students. I also enjoyed hanging out at Mooimeisiesfontein on Saturday afternoons.


Prof Meshach Azaikpono

Course: PhD in Economics (2004-2008) “The Depth of Financial Integration and its Effects on Financial Development and Economic Performance of the Southern African Customs Union Countries”. He received the Founders’ Medal for the best PhD dissertation in Economics in South Africa.
Current position: Professor of Development Finance, University of Stellenbosch.
Biggest career obstacle: I was fortunate to never have experienced a major career obstacle.
Best career advice: Pursue and focus on your passion.
Fondest memory of UFS: Being a part-time student, I had very limited interaction with the broader university environment. But I really enjoyed the support provided by the library staff and the staff from the Department of Economics. It was always like coming to see friends.


Anton Nicolaisen

Course: BEcon (1986-1989), MBA (1999-2003)
Current position: Provincial Head for the Free State Province, Standard Bank
Biggest career obstacle: Earlier in my career, I fell into a comfort zone and had to acquire the willingness to change.
Best career advice: Continuously challenge yourself to be the best possible person you can be, and run your own race. Learn through difficult times, and be open to change.
Fondest memory of UFS: Although I was not the biggest academic, I enjoyed interacting with lecturers … their stories and unique characteristics. Back then, I interpreted some as funny or awkward, only later did I realise how much I had learned from them. And of course, I’ll always remember the team spirit at athletics meetings and intervarsity.




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