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03 October 2024
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Story Ansie Barnard
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Photo Supplied
From left to right: Londeka Mkhwanazi, Semither Mkhize, Salima van Schalkwyk, Slindokuhle Ndlovu, Asanda Mpinga, Mantombi Molefe, Ntombinkulu Khumalo, Mosebjadi Chauke and Thembinkosi Mkhwanazi.
The Amrut Foundation, in partnership with the University of the Free State (UFS), successfully hosted its Inaugural Innovathon at the UFS Qwaqwa Campus. This competition is designed to identify and support innovative products and services that not only generate profit but also contribute to the public good, with a strong emphasis on ethical business practices. Through this collaboration, students gain national exposure for their businesses and receive support to create sustainable social enterprises.
Five teams of student social entrepreneurs from the Qwaqwa campus were shortlisted to participate in the regional finals. Their selection was based on ventures that adhered to a social entrepreneurship model and demonstrated plans for long-term profitability and sustainability.
During the Innovathon, a panel of judges from the UFS, the Amrut Foundation, and the Small Enterprise Development Agency (SEDA) selected two outstanding teams to represent the UFS at the national finals, which will take place in October. The winning ventures, Biofly-Pro and Root Rescue were each awarded R20,000 to further develop and expand their initiatives.
Hemang Desai, Executive Director of the Amrut Foundation, expressed his enthusiasm for the event: "Amrut is proud to co-host the Free State leg of the inaugural Innovation Challenge with the UFS. Supporting students with entrepreneurial ambitions that align with societal care is one of our key focus areas."
Dr Grey Magaiza, Senior Lecturer and Deputy Director for the Centre for Gender and Africa Studies at the UFS, highlighted the importance of social entrepreneurship: “Social entrepreneurship is a collaborative effort towards creating sustainable and ethical business processes. The two winning projects embody these principles, and we look forward to their continued growth. In line with our Vision 130, social entrepreneurship can serve as a critical lever for university-community engagement.”
Congratulations to Biofly-Pro and Root Rescue on their well-deserved achievements!
Ethical leadership - the building block for success in business
2015-03-13
Dr Reuel Khoza |
As part of the professional development lecture series, the UFS Business School hosted Dr Reuel Khoza, Chairman of Aka Capital and Nedbank Group Limited, in a presentation to MBAs and the Bloemfontein business community on Leadership challenges of building an ethical organisation. In his presentation, Dr Khoza discussed Nedbank’s journey to success, its approach, and the interventions used to make its success a reality.
He brought to the fore one of the challenges which many companies in South Africa and around the world often face, that is, to change the perception of leadership in a large organisation from a profit-centred orientation to a people-centred one. This is a process that can take years to achieve.
Dr Khoza said “Ethical and well-governed organisations create trust with stakeholders … ethical leadership has a ripple effect on all other leaders at all levels in an organisation” In concluding his presentation, he reiterated that ethical leaders embrace humanity; it is not prescribed as a duty but is self-prescribed.
The professional development lecture series is held at the Business School on the Bloemfontein Campus, hosting prominent speakers on various business-related topics throughout the year.