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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

Statement: Visit of the Portfolio Committee on Education to the UFS

2005-02-25

The chair of the Portfolio Committee on Education (PCE) Prof Shepherd Mayatula has commended the management of the University of the Free State (UFS) for its positive approach to the incorporation of the Vista and Qwaqwa campuses.

According to a statement issued by the university’s communication section, Prof Mayatula said that while there were outstanding issues to address, a platform had been created through the visit of the portfolio committee for the UFS to find solutions.

Speaking at the end of a visit to the Bloemfontein campus of the UFS, Prof Mayatula said: “You know the issues that exist between the three campuses and you know the solutions. You don’t need recommendations from the Committee.”

Earlier today the PCE held a three-way meeting between the PCE, the management of the UFS and the Vista Task Team, representing staff and students at the Bloemfontein campus of the former Vista University .

The Bloemfontein campus of the former Vista University was incorporated into the UFS in January 2004.

The multi-party delegation from the PCE was led by its chairperson, Prof S Mayatula, while the delegation from the UFS was led by the Rector and Vice-Chancellor, Prof Frederick Fourie, while the Vista Task Team was lead by Mr Paseka Mokoena.

Following a presentation by the Vista Task Team and a presentation by the UFS management, other committee members also commended the UFS for the spirit in which outstanding issues were being handled.

It was indicated by portfolio committee members that other universities have far more serious problems than the UFS, and that some of these universities have also been visited by the PCE. The UFS appears to be on the road to be an important pilot case for incorporations and mergers.

The issues that were discussed during today’s meeting included the following:

outstanding issues in the process of incorporating the Bloemfontein campus of the former Vista University into the UFS, including:
staff issues and conditions of service
issues of student aid and pipeline students
governance of the UFS
the long term utilisation of Vista as a site

The Rector and Vice-chancellor of the UFS, Prof Fourie, expressed his appreciation for the role played by the Portfolio Committee on Education in bringing about a common understanding of the transformation issues facing the UFS.

Prof Fourie said the Portfolio Committee’s visit was a useful intervention to bring about a sense of urgency in resolving matters affecting the Vista campus as well as the Qwaqwa campus.

Issued by: Mr Anton Fisher
Director: Strategic Communication
Cell: 072-207-8334
Tel: 051-401-2749
25 February 2005

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