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2023 Ernst Mach Grant recipient from the UFS

16 August 2023 | Story Rorisang Ramorena | Photo Supplied

Michael Skosana, a student on the Bloemfontein Campus of the University of the Free State (UFS), has been selected as the recipient of the 2023 Ernst Mach Grant scholarship exchange programme at the University of Applied Sciences in Austria.

Skosana, currently pursuing his honours in Financial Economics and Investment Management at the UFS, aspires to pursue not only his master's qualification but also his Chartered Financial Analyst (CFA) levels and regulatory exams and ultimately pass his board exams. Skosana is set to leave on 30 August to start the semester on 1 September 2023.

About the grant

The Ernst Mach Grant is a program aimed at students from non-European universities who wish to spend a semester or two at an Austrian University of applied sciences. The Austrian Ministry of Science and Research offers the Ernst Mach Grant to students with non-European citizenship who plan to take up exchanges at an Austrian university.

According to its 2023 – 2028 internationalisation strategy, the UFS aims to integrate international and intercultural dimensions into the university's being, including the formal and informal curriculum. The Office for International Affairs (OIA) enables such comprehensive internationalisation, and specifically its International Scholarships portfolio, under the leadership of Mbali Moiketsi, contributes by liaising with funding bodies for mobility, sharing information about possible opportunities, and supporting students through the process.

The responsibility of the OIA is to ensure that students and staff are exposed to intercultural opportunities as part of their learning curriculum through information sharing. The OIA partners and works with international funding agencies to bring the information to the students and staff and support them through the process.

Skosana's motivation to study abroad is to challenge himself on the spectrum of finance, to learn more about the Austrian and South African economies, and, hopefully, to work in Europe and gain insight before returning home to change the financial landscape of South Africa. He added that “the acquired skills will empower and develop the South African financial economy and educate South Africans on financial literacy, investments, and any financial goals they seek knowledge about.”

Furthermore, Skosana encourages students to be more open to knowledge and international experiences by participating in such opportunities. He emphasizes that “students should always want to broaden their intercultural and global competencies beyond academics.”

For more information related to scholarships and opportunities, contact Mbali Moiketsi at the following email moiketsimv@ufs.ac.za

News Archive

‘Global financial crisis is far from over’

2012-09-09

At the lecture were, from the left: Dr Arno van Niekerk (Department of Economy), Dr Francois Strydom (Centre for Teaching and Learning), Dr Mallory du Plooy (UFS101), Ms Gill Marcus, Governor of the Reserve Bank, and Lauren Hing and Louise Strydom of the UFS101 office.
Photo: Leatitia Pienaar.
6 September 2012

The global financial crisis the world has been experiencing since 2008 is far from over. In fact, Gill Marcus, Governor of the South African Reserve Bank, expects it to last for the next five years. “It is the longest financial crisis in history,” she said.

Ms Marcus lectured in the new UFS101 course of the university. The course was implemented at the beginning of the year and is aimed at broadening the world for new first-year students. About 2 000 students are taking the course.

Ms Marcus brought globalisation home and explained how activities in the international area impact on the lives of South Africans. She said South Africa was not excluded from the effect of global crises. Ms Marcus also said that South Africa was one of only a few countries in the world not experiencing a banking crisis due to strict controls in place, but more could be done.

“The big question is how to make sure that the South African banking system stays sound,” she said.

On a question about the debt of South Africans, she said it was important for South Africans to live within their means. “If we want to afford our new development, we need a savings percentage of 25 percent.” South Africa needs foreign capital investment to supplement the low local savings.

“It is difficult to resist all aspects of globalisation. Some can be to our advantage, but the others pose tremendous challenges.”

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