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Education key to repairing SA economy

08 July 2019 | Story Xolisa Mnukwa | Photo Charl Devenish

Thought-Leader Series 2019 — Executive Director: Centre for Politics and Research and political commentator, Prince Mashele, one of the key experts at the UFS Thought-Leader series, advises the youth in South Africa on acquiring multidisciplinary skills in order to survive in the future world of work.

The University of the Free State (UFS), in collaboration with Vrye Weekblad, presented the second consecutive Thought-Leader series on the Bloemfontein Campus on 4 July 2019, with topics focusing on economic growth and entrepreneurship for an emergent South African economy and environment. The series formed part of the literature festival of the Vrystaat Arts Festival, presented on the campus from 1 to 7 July 2019.

Rector and Vice-Chancellor of the UFS, Prof Francis Petersen, opened the discussions with the words, “We need to project ourselves as thought-leaders,” clarifying that the UFS itself is responsible for contributing to local and national public discourse by assembling industry experts to deliberate on imperative topics that affect students, the broader community, and the country in one way or another.

Editor of the Vrye Weekblad, political analyst, and master of ceremonies for the morning, Dr Max du Preez, introduced the panellists for the first discussion, themed How can we fix the South African economy and create jobs.

According to Prof Philippe Burger, Vice-Dean (Strategic Projects): UFS Faculty of Economic and Management Sciences, South Africa has the highest level of economic inequality in the world. He further explained that the long-term solution to growing the country’s economy is to improve the quality of education, which will result in a higher growth rate for the country.

Chief Economist at Investec, Ms Annabel Bishop, went on to explain that, “South Africa has a worrying de-industrialisation trend, which contributes to the decreased opportunity for decent job creation, essentially contributing to our struggling economy.” This was echoed by Executive Director: Centre for Politics and Research and political commentator, Mr Prince Mashele, who spoke on employing the unemployed. He suggested that South Africa’s youth be trained and equipped with skills so that SA gravitate more towards producing an industrial class in order to build its economy.

Director and Chief Economist of the Efficient Group, Mr Dawie Roodt, concluded the first discussion by highlighting that South Africa needs a GDP growth rate of 2,5% to at least maintain the country’s current unemployment rate and prevent it from getting worse.

The second panel discussed the establishment of a pro-youth entrepreneurship country, where the Head: Department of Business Management (UFS), Prof Brownhilder Neheh, spoke about bridging the intention-behaviour gap, and further exposing the youth to practical opportunities and teaching them the importance of group mentality as entrepreneurs. Chief Executive Officer: Harambee Youth Employment Accelerator, Ms Maryana Iskander, suggested that foreign direct investment can improve youth employment.

The final panellist to speak during the last half of the discussion, Senior Banker and Transactor: Acquisition and Leveraged Finance Division at Rand Merchant Bank – Corporate Investment Bank, Mr David Abbey, advised on tomorrow’s world of work by saying, “The focus of the workplace should always be on the people, and entrepreneurs should understand the importance of multidisciplinary skills, and emotional and social intelligence, as the future world of work requires a trusted society.”

UFS Thought-Leader Series Programme:		UFS Thought-Leader Series Panel discussions:

News Archive

UFS SIFE is the best in SA!

2004-07-09

The SIFE team celebrates their victory with Jack Shewmaker, founder of SIFE in 1975 and past-president of Walmart in the USA, and Moses Kgosana, Chairman of KPMG SA.

The Students in Free Enterprise (SIFE) team of the University of the Free State competed in the National SIFE championships on Thursday, June 17, 2004 at Ceasar’s Convention Centre in Johannesburg.

Strong competition was experienced from the other ten participant SA universities, e.g. the Universities of the Western Cape, Kwazulu-Natal, Cape Town and RAU, but die UFS SIFE team retained the national championship for the third year running.

The team will now represent South Africa and the University of the Free State in Barcelona, Spain at die SIFE World Cup. The competition will be held from 22 to 24 September 2004.

The presentation team members for the competition were Tsholofelo Tlhomelang, Imameleng Matete, Kenneth Lefa, Kabelo Lephaka, Nadia van Staden, Tshepo Mahloko (Multi-Media), Werner Schmidt (Faculty Advisor). Supporting the presentation team were Lineo Peete, Keketso Ntene, Ruth Morienyane, Motaung Mathaba, Tshireletso Seekoe, Peter Letsoalo, Obakeng Msuthwana, Tshepiso Lebentle, JC Langeveldt and Michelle Stanley.

SIFE is a world-wide non-profit organisation with the express aim of encouraging students to spread their business knowledge - gained in the classroom - to the community, to promote and expand the principles of free enterprise.( www.sife.org )

The criteria by which SIFE-projects are measured are the following:

• How free markets work in the global economy.
• How entrepreneurs succeed by identifying a market need and then profitably producing and marketing a product or service to fill that need.
• The personal entrepreneurial, communications, technology and financial management skills needed to successfully compete.
• Practicing business in an ethical and socially responsible manner that supports the principles of a market economy.
• Measuring the results of projects, utilizing mass media and the Internet, involving non-business majors and utilizing a Business Advisory Board, communicating the program through a written report and verbal presentation.

The UFS’ SIFE-team’s presentation complied with all the above mentioned criteria. SIFE UFS’ education drive stretched from primary school learners, to adults who had been working for thirty years – this diverse group was taught about the free market system and its value in the global village. Business ethics and basic business principles were communicated in a fun and interactive way to learners. High-level business advice was given to entrepreneurs who started new projects, e.g. a brick-maker, and marketing advice were given to existing businesses in need of expansion.

If you are interested in helping SIFE UFS achieve its goals, e-mail Werner Schmidt at
schmidtw.ekw@mail.uovs.ac.za or phone him at 051 – 401 3376.

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