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10 February 2023 | Story Kekeletso Takang
Frans Benecke  and Su-Mari Dreyer
UFS students Frans Benecke and Su-Mari Dreyer are two of the beneficiaries of the programme and will spend one year in Salzburg, from February 2023 until January 2024.

Nowadays, universities strive more and more to develop global citizens. For the University of the Free State (UFS) and the Salzburg University of Applied Sciences (SUAS) in Austria, collaboration on the Consecutive Master’s Degree Programme in International Finance is directed at this. 

This exclusive and pioneering collaboration between the Department of Economics and Finance at the UFS and the Department of Management and Tourism at SUAS emanates from more than 15 years of collaboration between Prof Johan Coetzee (UFS) and Prof Christine Mitter (SUAS ).

The collaboration addresses the concerns constantly raised in South Africa that graduates do not have the requisite practical skills when entering the workplace. The UFS attempts to bridge this gap and contribute to a better-equipped, employable South African graduate who understands the link between theory and application in a problem-riddled world entering the Fourth Industrial Revolution.

UFS students Frans Benecke and Su-Mari Dreyer are two of the beneficiaries of the programme and will spend one year in Salzburg, from February 2023 until January 2024. 

“This is a dream come true, a dream I didn’t even know I had. To experience a different culture through educational and cultural exchange will deepen my understanding of international relationships, which is a driver of development,” says Dreyer, who completed her MCom degree at the UFS.

Interdisciplinary research

The Consecutive Master’s Degree Programme in International Finance allows students wishing to pursue a master’s degree to acquire two degrees over a two-year study period: an MCom specialising in Finance in the Department of Economics and Finance at the UFS, and an MA in Business Management specialising in Financial Risk Management at SUAS in Austria. The degrees are done on location in Bloemfontein and Salzburg respectively. The UFS master’s is more quantitative in nature and exposes students to highly technical methods and applications, while the SUAS master’s degree is more qualitative in nature and exposes students to more practical real-world management scenarios. 

“The Faculty of Economic and Management Sciences has a long-standing and valued partnership with the Salzburg University of Applied Sciences. As a faculty, we see the development of the consecutive master’s degree as a wonderful opportunity for students from both universities to participate in the learning opportunities that both universities offer. These opportunities transcend the academic learning that will take place, to also include the exposure of students to the culture and life in the partner country,” says Prof Philippe Burger, Dean of the Faculty of Economic and Management Sciences. “We believe the learning that will take place through the exposure that the consecutive degree offers, will improve students’ employability and contribute to them building successful careers.”

Bridging the gap

As part of the curriculum requirements, students will also be offered the opportunity to do a short apprenticeship in Austria. 

Benecke, who also completed his UFS master’s degree, says he hopes the programme will serve as a call to action for students considering postgraduate studies in the Department of Economics and Finance at the UFS.

News Archive

Alumni in the financial sector: money talks!
2016-12-26

Description: Marina Marinkov Tags: Marina Marinkov 

Marina Marinkov, Economist at the
International Monetary

Description: Evangelina Nailenge Tags: Evangelina Nailenge

Evangelina Nailenge, General
Manager: Investment Institutions at
Namibia Financial Supervisory Authority.

Description: Vuyelwa Vumendlini Tags: Vuyelwa Vumendlini

Vuyelwa Vumendlini, Chief Director:
Global and Emerging Markets, National
Treasury.

Description: Meshach Aziakpono Tags: Meshach Aziakpono

Prof Meshach Azaikpono, Professor of
Development Finance, University of
Stellenbosch.

Description: Anton Nicolaisen Tags: Anton Nicolaisen

Anton Nicolaisen, Provincial Head for
the Free State Province, Standard Bank.

Where are they now?

On good days, most of us battle to set our personal finances straight,  let alone be responsible for a large enterprise. So we are extremely proud of the well-trained and talented Kovsie alumni who fill prominent shoes. Operating mostly away from the public eye, they make decisions to improve the economy on various levels. It is heartening to know that the UFS contributes to financial matters and training all across the globe.  

Marina Marinkov


Courses: BCom (Economics), BCom Hons (Money and Banking), and MCom (Economics) (2000-2004)
Current position:
Economist at the International Monetary Fund
Biggest career obstacle: I once worked for an organisation with poor leadership which negatively affected employee morale and job performance. It still proved to be a great learning experience, though. Bad bosses can teach us powerful lessons.
Best career advice:
Stop doubting yourself, work hard and be humble.
Fondest memory of UFS: Time spent on campus with my classmates, whether studying for finals at the library or just catching up between classes. The UFS was also my first employer and I have plenty of wonderful memories with colleagues at the Department of Economics.


Evangelina Nailenge

Courses: BCom Hons (Money and Banking) MCom (Money and Banking) (2005-2006)
Current position: General Manager: Investment Institutions at Namibia Financial Supervisory Authority
Biggest career obstacle: At times, being one of the youngest requires you to work twice as hard to earn your voice and cue at the decision-making table.
Best career advice: “Whatever your hand finds to do, do it with all your might, for in the realm of the dead, where you are going, there is neither working nor planning nor knowledge nor wisdom.” Eccl. 9:10
Fondest memory of UFS: Walking around the campus. Its well-manicured lawns and gardens had a calming effect in the midst of academic pressures. I will forever treasure the moment I first saw my name engraved in the walls of FGG, as the best postgraduate student for both 2005 and 2006.

Vuyelwa Vumendlini

Course: BCom Hons (Economics) (1996-1999)
Current position: Chief Director: Global and Emerging Markets, National Treasury
Biggest career obstacle: Doubting your own capabilities.
Best career advice: The sky is the limit, go for it all out, but most importantly, do something that you are passionate about it. It makes your work much more meaningful.
Fondest memory of UFS: Working as a tutor in my honours year and being able to help other students. I also enjoyed hanging out at Mooimeisiesfontein on Saturday afternoons.


Prof Meshach Azaikpono

Course: PhD in Economics (2004-2008) “The Depth of Financial Integration and its Effects on Financial Development and Economic Performance of the Southern African Customs Union Countries”. He received the Founders’ Medal for the best PhD dissertation in Economics in South Africa.
Current position: Professor of Development Finance, University of Stellenbosch.
Biggest career obstacle: I was fortunate to never have experienced a major career obstacle.
Best career advice: Pursue and focus on your passion.
Fondest memory of UFS: Being a part-time student, I had very limited interaction with the broader university environment. But I really enjoyed the support provided by the library staff and the staff from the Department of Economics. It was always like coming to see friends.


Anton Nicolaisen

Course: BEcon (1986-1989), MBA (1999-2003)
Current position: Provincial Head for the Free State Province, Standard Bank
Biggest career obstacle: Earlier in my career, I fell into a comfort zone and had to acquire the willingness to change.
Best career advice: Continuously challenge yourself to be the best possible person you can be, and run your own race. Learn through difficult times, and be open to change.
Fondest memory of UFS: Although I was not the biggest academic, I enjoyed interacting with lecturers … their stories and unique characteristics. Back then, I interpreted some as funny or awkward, only later did I realise how much I had learned from them. And of course, I’ll always remember the team spirit at athletics meetings and intervarsity.




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