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22 May 2020
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Story Nitha Ramnath
A Virtual celebration of Africa Month
On 25 May 2020, Africa will celebrate the 57th anniversary of the founding of the Organisation of African Unity. A central tenet of the organisation, which was the predecessor of the African Union, is African solidarity. Member states undertook to coordinate and intensify their cooperation and efforts to achieve a better life for the people of Africa. The University of the Free State (UFS) has a long tradition of commemorating Africa Day and the ideas underpinning it. Every year, diverse events aimed at advancing African unity and solidarity take place during Africa Month – traditionally, the highlight is the Africa Day Memorial Lecture hosted by the University's Centre for Gender and Africa Studies.
This year, celebrating African unity through significant events involving the physical presence of a large number of people, will likely be impossible. COVID-19 is ravaging the world and Africa may become one of the world regions worst affected by the consequences of the virus. Social distancing may be difficult to achieve in a continent with densely populated urban centres that often feature large informal settlements. Besides, the economies of African nations are not as robust as those of other world regions. The challenge that Africa is facing, appears to be one that can only be mastered by its people acting in solidarity and unity. The continent has already developed an Africa Joint Continental Strategy for COVID-19 Outbreak to combat the virus, and an Africa Taskforce for Coronavirus has been established. The ideas of African togetherness and the underpinning philosophy of Ubuntu may be critical for strengthening African solidarity at a time when it may be more relevant than ever.
The commemoration of Africa Day takes a different theme each year. This year, the UFS 2020 Africa Month celebrations will take a virtual format, with the theme of ‘Africa together forever’ underpinned by the COVID-19 global pandemic. The theme is particularly significant considering the context of the African continent; and only through the demonstration of solidarity and unity can Africa overcome the challenges of the global pandemic.
The University will host a variety of cultural and intellectual contributions on the dedicated UFS virtual Africa Month website. On Africa Day (25 May 2020), a virtual Africa Day function, which will be posted on the website, will conclude the Africa Month commemorations.
The diverse contributions to the 2020 virtual Africa Month activities will highlight the University’s commitment towards creating a diverse, challenging intellectual environment. The UFS strives as a research-led university, to provide an environment in which new ideas are incubated and debated; contributing towards its transformation process and African unity.
UFS and BMF present a crash course on Financial Literacy for Young Entrepreneurs
2017-08-23
Starting a business, big or small, can be a really difficult task – especially if you are not equipped with the basic business knowledge to help you kick-start this project.
For this reason, the University of the Free State (UFS), in collaboration with the Black Management Forum (BMF), held a Financial Literacy Workshop for Young Entrepreneurs on the Bloemfontein Campus early last week to assist in this regard.
Young entrepreneurs equipped with business knowledge for start-ups
The purpose of the workshop, which was presented by Francois Marais and Eduard Loots from Riskflow, was to equip young entrepreneurs with knowledge and skills to assist them in the business world. The main focus was on training start-up businesses to prepare business plans, and training was given to researchers, developers, and innovators on how to commercialise their inventions.
Ansie Barnard, Senior Officer in the UFS Business School, says since the involvement of the school in entrepreneurship development over the past few years, they came to the realisation that many of these new businesses tend to fail within a year because they do not have a suitable financial model.
“This is the reason why we utilised Riskflow Financial Modelling Software, since it does all the accounting calculations on their behalf,” says Barnard.
Introduction to basic business banking
In addition to this, the participants were introduced to the basics of business banking, with Standard Bank and the Industrial Development Corporation (IDC) as the guest presenters providing them with this information.
BMF’s Rozanne Brown says that many of these young entrepreneurs have the desire to succeed in business; therefore there is a need for this type of workshop.
BMF and the UFS Business School will look into hosting more entrepreneurial workshops in the future,” says Brown. All attendees of the workshop will receive certificates for their participation.