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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

RAG resilience shines despite rain

2017-02-07

Winning float for 2017: Armentum, Vergeet-My-Nie,
and Emily
Photo: Lelanie de Wet

Although the 75th RAG festivities were challenged by ominous weather, in true Kovsie spirit students and organisers still made a gleaming success of the day.

Students help to create sunny feeling
On 6 February 2017, the annual float-building activities culminated in the handing over of schoolbags to 150 learners from schools in and around Bloemfontein. This took place at the Rag Farm on the Bloemfontein Campus of the University of the Free (UFS), since the morning procession to Twin City Mall in Heidedal had to be cancelled due to bad weather.

“It is of course a huge disappointment to all of us that the events had to be cancelled, but we are grateful for the rain,” said Karen Scheepers, Head of Kovsie Rag Community Service and Assistant Director: Student Affairs.

The evening KFC Rag procession took place as planned, with students having the option of taking part despite the weather. Unfortunately, the Chevrolet Music Festival had to be cancelled.

“The very important actors of today are our students who have worked long hours to build the floats and who have worked together to make this rainy day on the outside feel sunny inside,” said Prof Francis Petersen, incoming UFS Vice-Chancellor and Rector, when he addressed the crowd at the Rag Farm. Prof Petersen will take up office on 1 April 2017.

Armentum, Vergeet-My-Nie, and Emily take honours
Armentum, Vergeet-My-Nie, and Emily Hobhouse were the overall winners of the 2017 Rag float-building. “It was worth the hard work. Always remember to ask for advice during float-building,” said Pieter Kotze, RC Rag of Armentum residence on the Bloemfontein Campus. “I also want to thank both the RC Rag from Vergeet-My-Nie and Emily Hobhouse.”

The float theme was Proudly South African, and the winning float encapsulated it with local flavours such as Chappies, a Rooibos tea box and a Lion matchsticks box. They also went the extra mile by incorporating each hostel’s logo within a Chappie design.

The Central Rag Committee would like to thank all their sponsors who made the events possible. The Rag Coronation Ball will take place on 17 February 2017, where the new Rag Queen and Mr Rag will be crowned.

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