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UFS hosts National Student Entrepreneurship Week (#SEW2020)

22 October 2020 | Story Nitha Ramnath

The National Student Entrepreneurship Week (#SEW2020) is a project of Entrepreneurship Development in Higher Education (EDHE) in collaboration with Universities South Africa (USAf).

The University of the Free State (UFS) has been selected to host the National Student Entrepreneurship Week from 2 to 4 November 2020. The programme is presented virtually and will be streamed by the UFS from 2 to 4 November; the events can be accessed live on the Whova app and on Facebook: @EDHEStudententrepreneurship, allowing students to watch at their convenience.

Background of SEW 2020

The National Student Entrepreneurship Week was piloted in 2017 and successfully executed in 2018 by the public universities and TVET colleges. This year, themed #AfroTech, #SEW2020 aims to gain participation from all (26) public universities and TVET colleges.

Objectives of SEW 2020

The objectives of Student Entrepreneurship Week are to raise awareness among students that participation in the economy is not necessarily only through the avenue of formal employment. Students are encouraged to develop innovative and creative ideas to solve many problems facing society. This year, the event allows universities and TVET colleges to showcase the different entrepreneurial activities and achievements of their institutions, which are intended to raise awareness and inspire students towards entrepreneurship and emphasising the benefits of having the best of both worlds as a student and as an entrepreneur.

Format of event

The event promises to offer a high-impact experience that will be easily accessible virtually, with multi-institutional participation and collaboration nationally. Participating universities will contribute to the content of the programme, which will be curated by the EDHE and livestreamed by the EDHE production partner.

The virtual format of the event allows students to preselect sessions in order to create a personalised experience that is customised for their personal schedules and circumstances. Students can watch the live stream as well as missed sessions on YouTube, and further engage with their own institution or with EDHE on social media.

More information on the Student Entrepreneurship Week can be found at https://edhe.co.za/

News Archive

UFS finances are fundamentally sound

2007-12-01

The finances of the University of the Free State (UFS) remain fundamentally sound and a higher than expected surplus of about R26 million was achieved in the 2007 budget.

This announcement was made last week during the last meeting of the UFS Council by Prof. Frederick Fourie, Rector and Vice-Chancellor.

“Up to now, we could finance the considerable investments in the infrastructure from discretionary funds, in spite of the fact that Council granted us permission during 2005/06 to take up a loan of R50 million for this purpose,” said Prof. Fourie.

The higher than expected surplus of about R26 million will be used among other things for the financing of infrastructure in order to further postpone the taking up of a loan.

In support of the drive to reposition the UFS nationally as a university that is successfully integrating excellence and diversity, R5 million will be made available from the surplus for this purpose.

The Council also approved the following allocations for 2008 for the key strategic pillars of a good practice budget for the university:

Information sources: R21,1 million
IT infrastructure: R3,5 million
Replacing expensive equipment: R7,05 million
Research: R18,1 million
Capital expenditure: R28,2 million
Maintenance capital assets: R18,2 million
Reserves: R6,3 million
Personal computers for the computer laboratory: R3,5 million

For the Qwaqwa Campus R2,5 million has been set aside for these issues.

In terms of strategic priorities R8 million was allocated for the academic clusters, R2 million for equitability, diversity and redress and R6 million for equity.

The projected income for 2008 will be R849 million, while the projected expenditure, excluding transfers, will be R694 million.

“Council further approved that discretionary strategic funds be largely voted to the further upgrading of the physical infrastructure, especially the Chemistry Building, the computer laboratory building, examination venues and the Joolkol,” said Prof. Fourie.

According to Prof. Fourie, funds have been reserved for the development of the academic clusters, as well as the continuation and acceleration of the transformation programme of the UFS.

“We have also managed to revise the conditions of employment of contract appointments and align it with the latest labour practices. The phasing in of the fringe benefits of this specific group of staff members will commence in 2008,” said Prof. Fourie.

Given the dependence of the income of the UFS on student numbers, a task team was formed last year to investigate the continued financial sustainability of the UFS. The core of this task team’s recommendations is:

to increase the third income stream by using the academic clusters as the main strategy; and to apply strategies such as the recruitment and extension of the postgraduate and foreign student corps, increase the income from donations and fundraising, etc.

Media Release
Issued by: Lacea Loader
Assistant Director: Media Liaison
Tel: 051 401 2584
Cell: 083 645 2454
E-mail: loaderl.stg@ufs.ac.za
30 November 2007

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