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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

Cornell academic focuses on international trade in inaugural lecture at the UFS

2013-11-12

Prof Muna Ndulo
Photo: Stephen Collett
12 November 2013

Prof Muna Ndulo, Professor at the Cornell Law School, delivered his inaugural lecture as Extraordinary Professor in the Department of Mercantile Law at the University of the Free State (UFS). The topic of his lecture was: Facilitating regional and world trade through international trade.

With this topic, Prof Ndulo said that trade is a recognised contributor to the Growth Domestic Product of countries and its role can be used to reduce global poverty and inequality. “Although Africa’s GDP is 5-6% on average, with a positive increase in direct foreign investments, its meaningful participation in world trade has been decimal,” he said.

Trade between African countries is 12%, which is the lowest in the world. This is in comparison to intercontinental trade in European states (72%), North America (48%), Asia (52%) and 26% in Latin America. The EU and USA are Africa’s key export markets. High transport costs, import substitution, intra-regional transactions, conflict of rules and bills of exchange remain as challenges. There are also no common standards with regards to the development of manpower as an important factor in production.

Prof Ndulo suggested solutions which Africa can use to achieve harmonisation. This includes the introduction of normative rules designed in a framework of a treaty. A modern law approach could be used to develop legislation and ensure uniformity; and lastly, the formulation of commercial customs and practice. “Harmonisation demands a high level of expertise and quality research,” said Prof Ndulo.

He added: “When legislation is developed, it must resemble the needs of our trade laws in order to maximise benefits.”

He concluded that, for harmonisation to be achieved, the political environment must play a major role in regional and world trade.

Prof Elizabeth Snyman-Van Deventer, Head of the Department of Mercantile Law, made sincere closing remarks on how much we as a continent have become an enemy of our own self by not having trade relationships among ourselves as Africans. Prof Snyman urged those in the legal fraternity to be part of the harmonisation of trade laws and eliminate the barriers by improving legislation.

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