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13 May 2019 | Story Mamosa Makaya

The autumn graduations at the University of the Free State (UFS) in 2019 highlighted the success of public private partnerships between big business and academic institutions in tackling the lingering challenge of financial support of students in institutions of higher learning. With the advent of #feesmustfall protests in recent years, a call to action for student financial support was made, not only by university students, but by civil society as well. The response was a joining of efforts between UFS and Absa. The bank came on board as a sponsor and has provided more than R28 million in scholarships at UFS between 2016 and 2018.

Institutional advancement key facilitator

The office of Institutional Advancement (IA) at UFS was a key roleplayer in securing this funding from Absa, by facilitating the process of acquiring the funding, managing the relationship with Absa and the UFS Student Aid office. IA facilitated the process of identifying and allocating student funding, signing of bursary contracts, and stakeholder liaison.

Student success and economic growth

The Absa Scholarship Programme was conceptualised as a demonstration of the company’s commitment to tackling social change and driving economic growth. Absa partnered with various other universities in the country to ensure academically excellent and financially constrained students have a chance to complete their undergraduate degrees. Since 2016, sponsored UFS students were covered for tuition fees, accommodation, text books and meals, enabling them to focus on their studies, and to acquire their qualifications in record time, ready to enter the world of work. 

The scholarship is reviewed annually with the following criteria; studying towards a degree in commerce, the humanities, engineering, science and technology, while maintaining an academic average of 55% or higher, and with a combined household income of less than R1million per annum.

Achievements of the programme

Since 2016, 723 UFS students were financially supported, with 2018 being the last year of the new intake. The current cohort is expected to complete their undergraduate studies by 2020 when the programme ends. To date more than 101 UFS students have obtained their qualifications and more will graduate later this year. Partnerships between academia, big business and other private sponsors are one of the great building blocks of our society, and continue to play a significant role its development.

News Archive

International organised crime expert speaks at our university
2011-07-25

 
Prof. Johann Henning, Dean of our Faculty of Law and Prof. Barry Rider.
Photo: Leonie Bolleurs

Prof. Barry Rider, respected amongst others for the vital role he is playing in the struggle to combat money laundering and organised and economic crime delivered a lecture, Stewardship in Islamic Financial Law, at our university as part of the Faculty of Law’s Prestige Series of seminars.

He has taught mainly at Cambridge and London Universities and has delivered a valuable contribution as an academic in various fields of law. He has read papers and taught at more than 300 universities and conferences in more than 63 countries. He has also authored more than 35 legal handbooks and has made a substantial contribution to several more specialist publications. He is editor of, amongst others, The Company Lawyer, the International and Comparative Corporate Law Journal and the Journal of Financial Crime. His main areas of research are in financial law and the control of economic crime.
 
Prof. Rider has a relationship of more than twenty years with our university. In this time, he received the Doctor Legum (honoris causa) for his involvement with the drafting of money laundering and insider trading legislation. The university has also appointed him as Professor Honorarius in the Faculty of Law (only the second in its more than hundred-year history) for his vast and pivotal role in international law reform as an academic law reformer.
 
As part of his appointment as Honorary Professor in the Faculty of Law, Prof. Rider often delivers lectures in the faculty. During his recent visit, Prof. Rider’s lecture on Islamic Financial Law shed light on the importance of this topic in today’s economy, as money generated from Islamic businesses make up $750 billion to $trillion of the world’s economy. After 9/11, the West wanted to understand more about Islamic Financial Law.
 
The Islamic Financial Law system is determined by the Koran. For instance, Muslim business people cannot allow any payment of interest, as it is forbidden by the Koran.
 
Prof. Rider’s lecture on this very relevant topic was very insightful. As consultant to the Islamic Financial Services Board (IFSB) he spoke with authority on the topic. He is the only British academic lawyer assisting this body.
 
Prof. Rider currently serves in an advisory capacity at the international law firm Bryan Cave LLP. Apart from the IFSB, he is also consultant to the Asian Development Bank.

 

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