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07 November 2023 | Story NONSINDISO QWABE | Photo SUPPLIED
Thembinkosi Mkhwanazi
Egg-cellence: Thembinkosi Mkhwanazi won the central regional rounds of the Entrepreneurship Development in Higher Education (EDHE) competition for his egg business, Egg Palace.

What started as a side hustle to bring in extra income has turned into a thriving venture for UFS Qwaqwa Campus student Thembinkosi Mkhwanazi, who has begun reaping the rewards of his hard work.

In October, Mkhwanazi came out victorious at the central regional rounds of the Entrepreneurship Development in Higher Education (EDHE) competition in the Existing Businesses category for studentpreneurs for his egg business, Egg Palace. He is in his third year of a BA degree specialising in Psychology.

The EDHE entrepreneurship intervarsity competitions are intended to develop the entrepreneurial capacity of students with the intention of equipping them with the necessary skills needed to become economically active during and after their tertiary education. The 26 South African universities are grouped into six regions, and studentpreneurs get to pitch their innovative ideas or existing businesses for a chance to win the national rounds.

Mkhwanazi’s pitch came out on top, sealing his place at the nationals and a fighting chance at the R100 000 cash prize.

He started his egg-producing business in 2020 during the COVID-19 pandemic, buying organic eggs from a supplier and selling them to students and Qwaqwa community members.

Since then, his business has grown astoundingly, and Mkhwanazi now owns 165 chickens housed in a chicken house in Qwaqwa. This expansion has allowed Mkhwanazi to increase his egg production and cater to a wider customer base on the Qwaqwa Campus and within the local community.

“I won the internal rounds and the regional round, but I’ve realised that winning was a bonus. Since being on this journey, I’ve had the opportunity to meet a lot of people who’ve inspired me to grow my business and how to be unique. I also got to board a plane for the first time. The win has just been the cherry on top, but there’s so much that I’ve gained from this experience.”

Entrepreneurship helps students improve their (self-) employability and livelihoods 

He said he was inspired by the likes of UFS Qwaqwa Campus alum Jabulani Mabuza, who also won the 2022 EDHE regional rounds and made it to the nationals. Making it through the regionals was a wake-up call, he says, which motivated him to invest more time and effort into his business.

“I was in my comfort zone and wasn’t marketing my business properly, but I’ve since taken that seriously, and I’m already seeing a huge boost in sales and public awareness,” he said.

Mkhwanazi said he would like to see the university supporting student entrepreneurs to establish themselves. “There are a lot of us who are entrepreneurs who need more exposure and support to grow. The courses offered at our institution encourage us to be entrepreneurial. If we can be given more opportunities, we’d be able to grow and become self-reliant.”

The national leg of the EDHE competition will take place from 30 November to 1 December 2023.

News Archive

Fasset continues to fuel academic excellence at the UFS
2017-12-15


  Description: Fasset  read more Tags: Fasset, Accounting, INTRABAS, Finance, South African Institute of Chartered Accountants

  Programme Director: School of Accounting, Prof Hentie van Wyk, and
  Dean: Economic and Management Sciences, Prof Hendri Kroukamp
  excited about the unveiling of the Finance and Accounting Services
  Sector Education and Training Authority (Fasset)
  plaque at the School of Accounting.
  Photo: Rulanzen Martin

The School of Accounting on the Bloemfontein Campus of the University of the Free State (UFS) held an unveiling ceremony for a Finance and Accounting Services Sector Education and Training Authority (Fasset) plaque. The plaque was unveiled by UFS Rector and Vice-Chancellor, Prof Francis Petersen, and Fasset CEO, Lesego Lebuso. This was in honour of Fasset’s partnership with the UFS and its contribution towards driving academic excellence through its Intrabas projects over the past few years.
 
Funding for teaching and learning initiatives
These projects support the development of black student enrolment and performance in Accounting Studies. During the previous year, Fasset gave the UFS R54 million in funding to support teaching and learning initiatives for 960 black Accounting students. These students were enrolled for BAcc, BCom(Acc), BAcc(Hons)/PGDipCA, and BCom(Hons in Acc)/PGDipGA studies. In the same year, a celebratory ceremony was held at the South Campus for 125 Fasset-funded students to celebrate their academic excellence.
 
 Prof Hentie van Wyk, Programme Director: School of Accounting, said, “FASSET funding will give the Centre for Accounting (as it was then called) an opportunity to strengthen our current student-centred teaching model”. This seemed like a prophecy, because at the beginning of 2017, the class of 2016 BAccHons students achieved a 96% pass rate in the 2017 Initial Test of Competence (ITC) examinations of the South African Institute of Chartered Accountants (SAICA).

Millions contributed towards accounting degrees
In 2017, Fasset sponsored 114 students on the Bloemfontein Campus with full bursaries amounting to more than R20 million through the Intrabas bursary fund for degree qualifications in BAccHons, BComHons (Acc), BAcc, BComAcc and BComAcc Extended programmes, as well as the tutorial programme managed by the School of Accountancy. On the Qwaqwa Campus, Fasset has given more than R7 million worth of funding.
 
James Veitch, Senior Officer: School of Accounting, said, “A decision was made to rather fund less students so that they could be assisted with greater effect, and students who did not qualify for the bursaries, would still be assisted through the support programme.”

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