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Fostering entrepreneurship among young people

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

UFS and DRC Free State sign cooperation agreement

2013-11-27

The University of the Free State (UFS) recently signed a cooperation agreement for a period of five years with the DRC Free State. In this contract it is agreed that the university will offer theological training to DRC ministers.

With this agreement, the DRC Free State confirmed that the theological training currently offered by the Faculty of Theology meets the requirements and expectations of the church in such a way that her ministers can be trained within this context and ethos of the UFS. The Faculty of Theology believes that church involvement in the training of students of the DRC FS (as with all other churches), as well as the spiritual formation and guidance of those students, are important during their training and should be retained.

According to Prof Driekie Hay, Vice-Rector: Academic, the Faculty of Theology at the UFS is the only institution in Central South Africa that offers complete and comprehensive theological training.

“As the youngest of the faculties at the UFS, this faculty has developed a lot in a relatively short time and is firmly established on many levels. The faculty currently offers training in all theological disciplines, from undergraduate to PhD level,” says Prof Hay.

The Faculty of Theology offers a unique national and international contribution to the development of the church, society and academic theological environment. This is made possible through quality theological training and specialist research based on a framework of classical theological training and research.

The new cooperation agreement that was signed acknowledges the uniqueness and independance of both the DRC in the Free State and the Faculty of Theology as public institutions, and strives to serve the interests of both institutions best.

According to Prof Fanie Snyman, acting Dean of the Faculty of Theology, this new agreement proves that the UFS is not only training students academically, but is also concerned with the human aspect of its students.

“It is a privilege for the university to be associated and work together with the DRC in this way,” says Prof Hay. Rev Jan Lubbe, Moderator of the DRC Free State, also indicated that he is very positive and excited about the new agreement.

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