Latest News Archive

Please select Category, Year, and then Month to display items
Previous Archive
02 March 2023 | Story Kekeletso Takang | Photo Supplied
EMS Entrepreneurship awards ceremony
The School of Accountancy hosted the award ceremony for attendance of the event in the Centenary Complex on the Bloemfontein Campus of the University of the Free State, issuing certificates of completion to the entrepreneurs who were part of the programme in collaboration with the National Youth Development Agency.

Concerns are constantly raised in South Africa that graduates do not have the requisite practical skills when entering the world of work. Along with this, the country grapples with a high youth unemployment rate that is higher than the national average. The University of the Free State (UFS) attempts to bridge this gap. 

In partnership with the National Youth Development Agency (NYDA), the UFS School of Accountancy (SOA) recently held a training programme for approximately 100 Free State youth in need of entrepreneurial upskilling. The training, aimed at developing entrepreneurial skills among the youth, took place on the Bloemfontein Campus over several sessions. 
This comes at a time when the UFS intends to maximise its societal impact with sustainable relationships through its Vision 130. 

On 22 February 2023, participants were awarded certificates of attendance at a prestigious event held on the Bloemfontein Campus.z

Addressing the participants at the event, Tumi Dithebe, Regional Manager of the Free State NYDA office, said he was impressed by the high level of commitment displayed by the participants during the training, and hoped that it would extend to how they manage their businesses. “Today, we are gathered here to acknowledge your achievement and to celebrate the partnership with the UFS.” 

Meaningful partnerships

“The School of Accountancy has had a working relationship with the SETA for Finance, Accounting, Management Consulting, and Other Financial Services (FASSET) since 2015. FASSET introduced the SOA to the NYDA, which was looking for a public institution to assist with the training of entrepreneurs,” said James Veitch, Senior Officer in the School of Accountancy. “We are in the process of negotiating a mentoring process to extend the influence of the training.” 

Entrepreneurship upskilling is a growing need in the business environment. While formal programmes offer hard skills development, training workshops such as this one provides an in-depth practical approach to support young people in mastering day-to-day challenges. 

Partnerships with various stakeholders are critical to providing young people with the skills they need to succeed in entrepreneurship. No one institution can do it alone. Initiatives should be sustainable and adaptive to the constantly evolving business environment. 

Vusi Peter, one of the participants with an information technology business, said the training has afforded him the opportunity to learn about financial management and business modelling. “Many times, we tend to neglect the management side of things when running a business. This training was a reminder to take care of the basics and to ensure that our businesses comply.”

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

We use cookies to make interactions with our websites and services easy and meaningful. To better understand how they are used, read more about the UFS cookie policy. By continuing to use this site you are giving us your consent to do this.

Accept