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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

UFS Business School positioned as key partner in the fight against fraud
2016-11-21

A collaborative effort to curb the scourge of fraud in public and private companies has been identified as the most effective method at the launch of International Fraud Awareness week, 13-19 November.  The programme kicked off with a media briefing held in Bloemfontein, under the theme: “Curb Fraud and Accelerate Economic Transformation”.  At this occasion, the Free State Provincial Treasury and key partner institutions which are: UFS Business School, Standard Bank, Association of Certified Fraud Examiners (ACFE), and PricewaterhouseCoopers, made a pronouncement on their efforts to stop fraud in public and private institutions.

Strategic partnerships empower companies
The UFS Business School, in collaboration with Strategic Investigations and Seminars, formed a collaborative effort to present the Advanced Certificate in Fraud Examination, thus empowering individual companies to have within their ranks, certified fraud examiners.  The programme is a registered SAQA, NQF level 7 course comprising four modules; Law, Investigation, Fraud Prevention, Detection and Ethics, Financial Transactions and Fraud Schemes. Students are assisted to continue to the ACFE Board examination in order to become internationally accredited. In 2016, a new e-learning model was introduced to decrease the time spent away from the workplace, thereby encouraging more professionals to enrol.

Commitment is key driving force
Speaking at the media briefing, Jo’Anni Deacon, Senior Officer at the UFS Business School, said “by presenting the programme, the university had positioned itself as a key partner with provincial government and other entities in the fight against fraud”.

Head of Department in the Free State Provincial Treasury, Godfrey Mahlatsi, reiterated the stance of zero tolerance against fraud, and that the department was committed to ensuring that this partnership continued to grow, enabling all to strengthen the message that fraud and corruption undermined the goals and objectives of the National Development Plan.

Gerhard Geldenhuys, Director of PwC Forensic Services said: “I believe we are making a difference and further believe that the time for dialogue on fraud is now better than ever.”

The week-long campaign encourages employees (both in the public and private sector), and business leaders, to proactively take action to minimise the impact of fraud in their environments.

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