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03 August 2023 | Story Leonie Bolleurs | Photo Supplied
ABASA 2023
This year, ABASA hosted the sixth annual Prof Wiseman Nkuhlu lecture at the UFS. Attending the event were, from the left: Ayanda Mafuleka, the CEO of FASSET; Linda Maqoma, the current President of ABASA; Tantaswa Fubu, speaker at the event, past president of ABASA, and CEO of Great Well; back: Prof Frans Prinsloo, the Head of the School of Accountancy; Prof Phillipe Burger, the Dean of the Faculty of Economic and Management Sciences; and Dr Molapo Qhobela, Deputy Vice-Chancellor: Institutional Change, Strategic Partnerships and Societal Impact.

This year, the Association for the Advancement of Black Accountants of Southern Africa (ABASA), in partnership with the Finance and Accounting Services Sector Education and Training Authority (FASSET), hosted the sixth annual Prof Wiseman Nkuhlu lecture in the Equitas Auditorium on the University of the Free State (UFS) Bloemfontein Campus in the form of a hybrid event.

This gave effect to the wish of Prof Wiseman Nkuhlu, the first black chartered accountant in South Africa, to have the event in Bloemfontein to strengthen his relationship with the UFS School of Accountancy

The lecture, delivered by Tantaswa Fubu, ABASA past president and CEO of Great Well, was titled: The Value of Accountants Reimagined. 

Supporting societal transformation

In welcoming delegates to the UFS, Dr Molapo Qhobela, Deputy Vice-Chancellor: Institutional Change, Strategic Partnerships and Societal Impact, stated that higher education has several related purposes, including contributing to and supporting the process of societal transformation. According to him, universities exist, among others, to contribute to the socialisation of enlightened, responsible, and constructively critical citizens. “We must encourage in our graduates the new development of a reflective capacity and a willingness to review and renew prevailing ideas,” he said.

Prof Frans Prinsloo, Head of the School of Accountancy, was delighted to welcome the leadership representatives from several of the professional bodies that accredit the academic programmes of the school. These include the Association of Chartered Certified Accountants (ACCA), the Chartered Institute of Management Accountants (CIMA), the South African Institute of Professional Accountants (SAIPA), which accredits the BCom (Acc), and the South African Institute of Chartered Accountants (SAICA), which accredits the BAcc programme for CA(SA) purposes, and the BCom (Acc) for AGA(SA) purposes.

“We value our relationship with ABASA, as we can tap into a network of successful but diverse accountancy professionals who can serve as role models and mentors to our students, preparing them to be responsible professional accountants who contribute to the development of the South African economy,” said Prof Prinsloo. 

A group of roughly 200 delegates attended the event, including Nonkuleleko Gobodo, the first black woman to qualify as a Chartered Accountant (SA); Linda Maqoma, the President of ABASA; Sibusiso Nduna, ABASA’s Business Forum Chairperson; Ayanda Mafuleka, the CEO of FASSET; Bonga Mokoena, CEO of BDO; Emma Mashilwane, co-founder and CEO of MASA Risk Advisory Services; staff and students of the UFS; Tariro Mutizwa from CIMA; Robert Zwane from SAICA; Portia Mkhabela from ACCA; Moses Hlongoane from the UNISA College of Accounting Sciences; Faith Ngwenya from SAIPA; as well as leadership representatives from the Free State Provincial Treasury, KPMG, and SAPRO.

Maqoma, speaking on behalf of ABASA, said this list of attendees shows the power of ABASA to convene industry leaders in one room for a common cause – the advancement of black accountants in South Africa. “It is not only about the names and the titles, but the impact that ABASA has in convening and in making change through the influence of everybody who has partnered with them over the 38 years of the organisation,” she said. 

She added that to be the 17th president of ABASA is an absolute honour, but to be the fifth woman president means more. “It is a testament to what transformation means to ABASA. We are leaders in the transformation – we have not only delivered in the racial transformation, but also gender transformation and we are making sure that women’s voices are heard, women's leadership is respected, and is given a platform to lead.” 

Courage over comfort

In her opening remarks, Fubu stated, “If we want to live as significant a life as that of Prof Nkuhlu, we need to take pages from his book. She believes he was a pathfinder who shaped the field of accountancy in South Africa to what it is today. 

“If we can embrace qualities such as grace, humility, excellence, sacrifice, courage, care, Ubuntu, and many more, why not shape our lives around this inspiring role model we have? Reading the Bible from Genesis to Revelation, he believed that we were created in God’s image and that we have a role to fulfil as the son and daughter of God on earth,” said Fubu. 

According to her, the moral decay of South Africa is evident for everyone to see. There is something fundamentally wrong and we need to address how it can be reversed, she noted.

“As accountants, we lost our voice when facing a leadership that seeks to self-enrich. When did we become cowards, selling our souls to the highest bidder? We are not here to win the Mr/Ms Congeniality contest,” Fubu remarked. 

She commented that the profession must refuse to sit with narcissistic leaders who misuse their power, which should be used to serve others instead.

“The problem is with leaders who don’t call out other leaders for their reckless behaviour in leading.” Fubu, however, continued, stating the importance of introspection instead of blaming others. “We must look within to understand our contribution to the status quo.”

“Remember, the call to leadership is always choosing courage over comfort. Due to our cowardice, we have not challenged the rot of society. In this country, we have democratised shamelessness and corruption. We do and say absolutely nothing. Hopelessness is fast becoming part of our DNA. When people lose hope, they accept their fate and lose the ability to fight for a better life. We must infuse hope into every citizen. As accountants, we should be instrumental in delivering a better future for South Africa,” she said.

Fubu urged the accounting profession to remain true to Prof Nkuhlu's legacy and to lead with impeccable values, responding to the needs of people. This approach will enable people to thrive and aid in eradicating poverty and building a South Africa that cares for its young.

She challenged everyone, stating that there are many potential Prof Wiseman Nkuhlus in the audience. “But we need to break with fear, self-preservation, and cowardice. We need to rise and be the best we can be,” Fubu stated.

In a video message, Prof Nkuhlu left dignitaries with food for thought, stating that as accountancy professionals, it is necessary to pause from time to time and reimagine the relevance and contribution we have made. He highlighted, “We must establish if we are the difference makers we aspire to be.”

News Archive

UFS responds to concerns around high costs of higher education
2015-10-15

 

Dear Students

UFS responds to concerns around high costs of higher education

There is an understandable and shared concern among students in the country around the high costs of higher education. As you know, this also is a matter of deep concern on our campuses, which the University of the Free State (UFS) has made a priority in discussions with student leaders - and through new strategies to relieve the burden of costs on poor students and their families. In fact, in the past two weeks, the UFS leadership has again engaged students on the matter of fees in the future.

This is what we have done so far. We have maintained our position as one of the universities with the lowest tuition fees in the country. As you would have seen from recent newspaper reports on the cost of a degree at various institutions over the past five years, the UFS has had consistently low fees. This is not an accident; both the University Council and the executive leadership of the UFS is of one mind that we must offer a high quality education at minimum cost to all our students, despite the rising costs of operating a large multi-campus university with 30 000 students. Our commitment to you is to continue to keep those costs to students as low as possible, without compromising on the quality of education.

In addition, we took a decision earlier this year to become the first university to drop application fees for first-year students. We are proud of that achievement, since so many students fall at this first hurdle as they contemplate post-school education and training. We also waived registration fees for postgraduate students and now Research Master’s and PhD students can study tuition free under certain conditions. We raised more than R60 million from the private sector to enable talented students, who do not receive NSFAS funding, to complete their degree studies at the UFS. We set aside some of the university’s own funds to enable even more students to access finance for their studies. And we now have a special office set aside to counsel and assist students to apply for more than one scholarship to support their studies. The university does not follow a policy of maximizing exclusions. It has endeavoured and succeeded to turn around the majority of its potential deregistration cases. During 2015 we had 2 700 students at the risk of being de-registered, but our serious efforts resulted in only over 200 instances of exclusion we could not mitigate. As is the practice for the past few years, these students’ debt for 2015 has been reversed.

But, we do not only look for funds from outside to support our students. Last year we set up a Staff Fund to which ordinary members of the academic and support staff can contribute from their own, and sometimes very modest, salaries to enable Kovsie students to finish their degrees. We have volunteers who work on the No Student Hungry (NSH) Bursary Programme to raise funds for students who cannot afford a regular meal. We have an open line to rural and township schools to nominate poor students with good results for support by the Rector’s Fund, and some of those students are now in their final year of studies. And many of our staff support individual students in their homes and with their families, without being asked to do so. This is what we call the Human Project and it remains central to the way in which we deal with students.

We will of course continue to make representation to government, the private sector, and individuals to increase funding, especially for first-generation students, and for families where more than one student is at university. We will continue to take to the road to raise funds from companies and foundations to finance our students. We will expand on-campus opportunities for limited working hours for students who wish to earn some money to support their studies. As we have said often before, no student who passes all their courses or modules will be turned away simply because they do not have the funds to study.

The UFS discusses and agrees to fee increases with our students well in advance of the next academic year. None of these decisions are taken without the agreement of the student leadership and thus far these engagements, while tough, have always been done in good faith and with the students’ interests at heart.

It is important for you to know that, with the declining government subsidy, in real terms, and the expanding needs of our students, we will not be able to keep the university running without fees - even though this source of revenue comes mainly through scholarships and bursaries. We need to compensate staff, purchase new library books and renew journal subscriptions (which is very difficult given the low value of the Rand), upgrade computers and software, pay rates and taxes, purchase laboratory equipment, pay the water and electricity bills, expand internet services, upgrade campus security, and hire more academics to keep class sizes reasonably small. It is important for you to know that the university has managed to avoid increasing student fees as a result of much higher municipal rates. Our lecturers are not the highest paid in the country and financially we run a tight ship. We consistently achieve unqualified audits and we are known to be one of the universities that manage its NSFAS contributions with great efficiency. We do this because of our commitment to ensure that our students are able to enjoy a high quality of education on a stable campus where there is a deep respect for all campus citizens.

Despite all these efforts, the most important message we wish to communicate, is that the door remains open for continued discussion with student leaders as we continue to find ways of keeping university education open and accessible to all qualifying students. At the same time, the UFS leadership is involved in discussions with government about how to best manage the escalating cost of higher education for our dents.

Thank you for your support and understanding at this time and be assured, once again, of our commitment to students as a matter of priority to the university leadership.

Best regards

Prof Jonathan Jansen
Vice-Chancellor and Rector

University of the Free State
19 October 2015

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