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09 March 2022 | Story Leonie Bolleurs | Photo Supplied
Dr Edson Vengeai
Dr Edson Vengesai believes accreditation from and affiliation with the CFA Institute signals to potential students, employers, and the marketplace that the UFS BCom Investment Management and Banking curriculum is well-suited to prepare students for a brighter career in the investment field.

The University of the Free State (UFS) Faculty of Economic and Management Sciences was recently welcomed into the world’s largest association of investment professionals, the CFA Institute University Affiliation Programme. The CFA designation is globally recognised as the gold standard in the investment field.

Accreditation by this respected source of knowledge in investment and portfolio management reflects the rigour and value of the UFS BCom Investment Management and Banking (IMB) degree – housed in the more than a century-old Department of Economics and Finance. 

According to Dr Edson Vengesai, Senior Lecturer in the Department of Economics and Finance, the BCom IMB positions students well to obtain the Chartered Financial Analyst (CFA®) charter, which has become the world's most respected and recognised investment credential. Including the UFS, only five universities in South Africa are affiliated to the CFA Institute. 

Most respected investment designation

Members who have attained the prestigious designation ‘Chartered Financial Analyst’, hold prominent roles in leading investment firms in financial centres worldwide. “Becoming a charter holder is a defining moment for many investment professionals, which exemplifies a robust understanding of advanced investment analysis and real-world portfolio management skills,” he says.  

Dr Vengesai states that with this affiliation from the CFA Institute, the BCom IMB degree has been acknowledged as incorporating at least 70% of the CFA Program Candidate Body of Knowledge (CBOK) within the programme. Moreover, it also places emphasis on the CFA Institute Code of Ethics and Standards of Professional Conduct. He believes preparing graduates who are ethically grounded and ready to execute their duties in an ethical and professional manner is a major necessity in the financial analysis and investment field.

Writing from London in the United Kingdom, Director of University Relations at the CFA Institute, Peter Watkins, states: “The UFS BCom in Investment Management and Banking is a rigorous programme that will be of great benefit to students entering the investment profession.”

Dean of the Faculty of Economic and Management Sciences and Pro-Vice-Chancellor: Poverty, Inequality and Economic Development, Prof Philippe Burger, adds that the accreditation aligns with the faculty’s drive to create opportunities for its students to not only pursue excellence, but also to compare with the best in the industry, locally and on an international basis. He says the BCom in Investment Management and Banking is one of a range of cutting-edge, industry-relevant, and scientifically rigorous degrees offered by the Faculty of Economic and Management Sciences. “Quite a number of the faculty’s programmes are accredited by professional bodies, with accreditation by the CFA being the latest.”

Taking the financial sector to new heights

Through the CFA programme, the UFS will also be eligible to receive CFA Programme Student Scholarships each year, which will contribute to the much-needed skill set of well-grounded financial analysts who can take the financial sector to new heights. “Aligning our degree programme with the CFA curriculum will equip our students with the kind of expertise and real-world skills in investment analysis that will help set them apart from other institutions and peers,” adds Dr Vengesai, who also aims to produce a breed of innovators, critical thinkers, and producers of information.

“The affiliation signals to potential students, employers, and the marketplace that the UFS BCom Investment Management and Banking curriculum is closely tied to professional practices and is well-suited to prepare students for a brighter career in the investment field,” Dr Vengesai concludes. 

News Archive

Important message to UFS students on NSFAS and financial aid in general
2013-02-01

31 January 2013

Dear Students

There remains some uncertainty as well as misinformation within the student body concerning NSFAS and financial aid in general. This communication is intended to provide the facts on the state of student funding at the University of the Free State (UFS). I hope you find this information helpful and that it would guide you in your decisions as you wait to hear from, or hopefully receive funding from NSFAS or any other source.

  1. Every year the Department of Higher Education and Training (DHET) determines how much funding is available to fund students at all universities in South Africa; this is determined in part by the student numbers. Universities do not ask for, or determine the DHET allocation and are instructed by government that “NSFAS will ensure that the universities comply with the processes, procedures…for the allocated funds.”

  2. On 14 December 2012 the UFS received notice from the DHET that our total allocation would be R108,331,215.66 and that this amount must be apportioned in the following categories:
    General NSFAS Funding R85,174,275.07
    Teacher Training R2,291,940.59
    Disability Funding R1,265,000.00
    Final-Year Programme R19,600,000.00

  3. The UFS received 5 952 applications for NSFAS funding and with the available funding we can only finance up to 3 000 students on the Qwaqwa and Bloemfontein Campuses, provided that those students satisfy the stringent criteria, e.g. the so-called “national means test” determined for all universities in the country. If we funded more students that the available monies allow, the university would be held accountable by the NSFAS Board and the DHET and this would threaten future funding.

  4. Students apply in the previous year and therefore late applications are less likely to receive funding.

  5. Academic merit also counts, therefore students who fail one or more modules are less likely to receive new or ongoing support from NSFAS. The combination of academic standing and financial need are among the important criteria in decision-making on NSFAS funds.

  6. The UFS is one of the few universities with a very efficient record in using every cent made available to support poor students; we are proud of this record. No money is sent back to NSFAS, except small amounts not claimed by students in the disability category. The university is not allowed to shift funds between categories as described in point #2 above.

  7. Allocations are not based on campus, but need.

  8. The UFS sets aside an additional R35,7 million (in 2013) from within its own budget as bursaries so that we can accommodate as many students as possible. We spend every cent of this funding on students.

  9. The UFS also raises millions in bursaries from the private sector to support poor and promising students, though these funds are often linked to the industry granting the money, e.g. Investec for Accounting students and SASOL for Chemistry students. This recruitment of bursaries is a 24/7 commitment of the Marketing Office and the Faculties and Heads of Departments are also active in raising funds from government agencies, parastatals and the private sector for students in their units.

  10. After almost all our 2013 funds were allocated in favour of students, we calculated a shortfall in the NSFAS allocation of approximately R51 million. We are in the process of making an urgent submission to NSFAS to consider this additional allocation, but we cannot guarantee that this plea can or will be met.

Finally, I want all our students to know that the University of the Free State works very hard to raise every cent we can to provide poor students with funding for their studies. Many of my colleagues, including support staff, who do not earn very much, use some of their meagre personal resources to help a student with money for registration or clothing or food. In fact, the No Student Hungry Campaign that raises more than R600,000 by UFS volunteers annually, is another mechanism for trying to assist students who might have money for studies, but not much else.

We do this because we care, and because this is what The Human Project at Kovsies is all about.

I therefore ask for your patience as we continue our labour of raising the funds that enable every deserving student to continue their studies at the University of the Free State.

Should you have any further questions about NSFAS, please leave an email inquiry on choanet@ufs.ac.za or mallettca@ufs.ac.za and we will endeavour to provide you with the information you require.

Sincerely Yours

Jonathan D Jansen
Vice-Chancellor and Rector
University of the Free State

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