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UFS again receives Level-4 BBBEE rating

06 August 2020 | Story Leonie Bolleurs | Photo Pixabay

BBEE_read more — Antonie Beukes says although the university is involved in a number of projects that add to its BBBEE rating, considerable attention is given to initiatives to better the lives of some of its suppliers.

For the past two years, the University of the Free State (UFS) has had one of the best Broad-Based Black Economic Empowerment (BBBEE) ratings among universities in South Africa. The university recently received confirmation that its Level-4 rating has been approved for another year.

According to Antonie Beukes, Assistant Director in the UFS Department of Finance, this rating enables the university to compete with the advantage of a 100% procurement level regarding tenders. “It will also help with our third-stream income, and more importantly, this level assures everyone that we are on the right track regarding BBBEE,” says Beukes.

Opportunity to better the lives of others

The university had to work hard to maintain their Level-4 BBBEE status. Beukes says one of the initiatives they focused on was the development of suppliers and enterprises that are not associated with the UFS.

“Many people think of BBBEE initiatives as a project where money is paid, and that is where the buck stops. Although this may get you some points, it is important for the university to better the lives of others.”

“We mostly focus on Exempted Micro Enterprises (EMEs) and Qualifying Small Enterprises (QSEs), because they are the small, start-up companies that need help to be sustainable. Even though assistance can take various forms, such as spending time with suppliers and offering services at a lower cost or free of charge, the university gives considerable attention to providing training to these service providers,” says Beukes.

Always strive for a better rating

The UFS Department of Finance strives to achieve a better rating each year. “The aim for next year will obviously be to be rated as a Level 3 but maintaining the Level 4 will be a big achievement.”

Beukes, however, points out that one needs to be realistic and must keep track of what is going on in the economy, as well as the challenges brought about by the COVID-19 pandemic.

He continues: “Strict new rules regarding BBBEE scoring also came into play last year and we see that most businesses are rating lower scores (higher levels), which directly impact the UFS.”

News Archive

UFS receives R10 million in student funding from Absa

2017-06-19

Description: UFS receives R10 million in student funding from Absa Tags: UFS receives R10 million in student funding from Absa

From the left: Asive Dlanjwa (UFS SRC) Prof Francis Petersen, Fikemini Dlamini,
Bertie Smith and Lesley Afrika (student beneficiary 2016-2017)

In support of building a more equitable and prosperous Africa, and in response to the plight of students who lack financial aid at universities across the country, Absa Bank handed over a cheque of R10 million to the University of the Free State (UFS) at a ceremony held on the Bloemfontein Campus on 13 June 2017 by the office of Institutional Advancement. The allocation of these funds will assist students who meet the bursary programme criteria (proven financial need, students who are from households with a combined income of less than R1 million per annum, with an academic average of 55% or higher).

Corporate and higher education collaborate
Speaking at the event, Rector and Vice-Chancellor of the UFS Prof Francis Petersen highlighted the important role corporates play in collaborating with educational institutions to help support future professionals who are the future builders of the economy and will later lead industry. “Absa and the UFS enjoy a good relationship and it is our hope that this bursary programme will grow from strength to strength,” he said.

In 2016 alone, Absa Bank disbursed R12 million towards settling outstanding fees for 439 students in four faculties of the UFS. In 2017 the funds will be allocated similarly to cover financial needs of qualifying students. Mr Bertie Smith, Absa Management Executive: Central Region said: “The university plays an important role in building future leaders and Absa’s strategy of shared growth supports the focus on education.”

Responding to a greater socioeconomic need
The event was attended by staff of the UFS and delegates from the Absa group, as well as students who were beneficiaries of the Absa Bursary Fund in 2016. Mr Fikemini Dlamini, Absa Head: Public Sector Business Banking, said the bursary programme was born out of the growing need to fund and develop the education of young people, and is a response to the outcry from students across the country in the “Fees Must Fall” movement. He said: “Educating one young person has a knock-on effect that has the potential to alleviate poverty in many families and communities around us.”

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