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25 August 2025 | Story Anthony Mthembu | Photo Nocwaka Sinxadi
Prof Phillipe Burger
Prof Philippe Burger, Dean of the Faculty of Economic and Management Sciences at the University of the Free State (UFS), addressing entrepreneurs attending the Financial Inclusion Symposium.

The Young African Entrepreneurs Institute (YAEI), in partnership with ABSA and the UFS Business Incubator, recently hosted a financial inclusion symposium at the University of the Free State (UFS). The event, which marked the final day of YAEI’s Youth Entrepreneurship Tour, brought together aspiring entrepreneurs, industry experts, and key stakeholders to share knowledge and inspire future business leaders.  

Held on 15 August 2025, the symposium welcomed Risuna Maluleke, CEO of YAEI; Modise Sehularo, Director of Enterprise Development at the Department of Small Business Development, Tourism and Environmental Affairs (DESTEA) in the Free State; Prof Phillippe Burger, Dean of the Faculty of Economic and Management Sciences (EMS) at the UFS; representatives from ABSA; and entrepreneurs from across the province.  

 

Insights from experts

Opening the programme, Prof Burger emphasised the importance of platforms that nurture entrepreneurial growth. “South Africa is a country rich in diversity, with people full of ideas,” he said. “Opportunities such as these lay the foundation for young people to build their futures while sharing experiences and perspectives.” 

Prof Burger also highlighted the significance of different forms of entrepreneurship - from side hustles to family-run businesses – in shaping South Africa’s economic landscape.

Sehularo expanded on the role of DESTEA, stressing the department’s commitment to creating an enabling environment for youth-owned enterprises. 

“Our aim is to cultivate a thriving economic ecosystem of youth-led businesses that contribute to economic growth and community development in the Free State and beyond,” he explained. He also outlined the department’s support structures for emerging business owners. 

 

Expanding entrepreneurial knowledge 

In addition to expert addresses, entrepreneurs attended a masterclass on entrepreneurial resourcing and formalisation presented by Zakhithi Shange, Enterprise Development Specialist at ABSA. 

The programme further featured a panel discussion titled Investment readiness: building sustainable and scalable ventures. Moderated by Khensani Mnyambi, Executive: Enterprise Solutions at YAEI, the panel included Prof Brownhilder Neneh, Vice-Dean: Research, Engagement and Internationalisation at the UFS; Richard Molefe, National Chairperson of the Black Management Forum Student Chapter; and other thought leaders.  

Discussions covered practical strategies for becoming investor-ready, as well as common pitfalls entrepreneurs face when seeking funding. Molefe stressed the importance of leadership, remarking: 

“Without management and leadership, you will overstretch yourself and ultimately run your business into the ground.”  

Shange cautioned entrepreneurs against relying too heavily on accountants: 

“When everything is left to your accountant, you risk losing touch with your company’s financials. This becomes a major challenge when applying for funding, as you cannot confidently respond to a banker’s questions.” 

 

Recognising rising talent 

The symposium concluded with the announcement of the Free State’s top ten finalists in the 2025 Youth Innovation Challenge, held at the Central University of Technology (CUT) on 14 August 2025. Participants in the challenge pitched innovative ideas aimed at addressing Africa’s pressing challenges. 

Among the finalists was UFS student and Internsphere co-founder, Sphesihle Ncokwana, who is currently receiving business coaching from the UFS Business Incubator. Ncokwana described making the top ten as “surreal”, attributing the achievement to the collective effort of his partners. Fellow co-founder, Sinothando Mkhize, added: 

“This is a big milestone for our business, and we are really excited about the journey ahead.” 

The top ten finalists will represent the Free State at the Youth Entrepreneurship Week in Johannesburg on 20 November 2025, where they will compete alongside 90 entrepreneurs from across South Africa in the national finals. 

News Archive

UFS physicists publish in prestigious Nature journal
2017-10-16

Description: Boyden Observatory gravitational wave event Tags: Boyden Observatory, gravitational wave event, Dr Brian van Soelen, Hélène Szegedi, multi-wavelength astronomy 
Hélène Szegedi and Dr Brian van Soelen are scientists in the
Department of Physics at the University of the Free State.

Photo: Charl Devenish

In August 2017, the Boyden Observatory in Bloemfontein played a major role in obtaining optical observations of one of the biggest discoveries ever made in astrophysics: the detection of an electromagnetic counterpart to a gravitational wave event.
 
An article reporting on this discovery will appear in the prestigious science journal, Nature, in October 2017. Co-authors of the article, Dr Brian van Soelen and Hélène Szegedi, are from the Department of Physics at the University of the Free State (UFS). Both Dr Van Soelen and Szegedi are researching multi-wavelength astronomy.
 
Discovery is the beginning of a new epoch in astronomy
 
Dr van Soelen said: “These observations and this discovery are the beginning of a new epoch in astronomy. We are now able to not only undertake multi-wavelength observations over the whole electromagnetic spectrum (radio up to gamma-rays) but have now been able to observe the same source in both electromagnetic and gravitational waves.”
 
Until recently it was only possible to observe the universe using light obtained from astronomical sources. This all changed in February 2016 when LIGO (Laser Interferometer Gravitational-Wave Observatory) stated that for the first time they had detected gravitational waves on 14 September 2015 from the merger of two black holes. Since then, LIGO has announced the detection of two more such mergers. A fourth was just reported (27 September 2017), which was the first detected by both LIGO and Virgo. However, despite the huge amount of energy released in these processes, none of this is detectable as radiation in any part of the electromagnetic spectrum. Since the first LIGO detection astronomers have been searching for possible electromagnetic counterparts to gravitational wave detections. 
 
Large international collaboration of astronomers rushed to observe source
 
On 17 August 2017 LIGO and Virgo detected the first ever gravitational waves resulting from the merger of two neutron stars. Neutron star mergers produce massive explosions called kilonovae which will produce a specific electromagnetic signature. After the detection of the gravitational wave, telescopes around the world started searching for the optical counterpart, and it was discovered to be located in an elliptical galaxy, NGC4993, 130 million light years away. A large international collaboration of astronomers, including Dr Van Soelen and Szegedi, rushed to observe this source.
 
At the Boyden Observatory, Dr Van Soelen and Szegedi used the Boyden 1.5-m optical telescope to observe the source in the early evening, from 18 to 21 August. The observations obtained at Boyden Observatory, combined with observations from telescopes in Chile and Hawaii, confirmed that this was the first-ever detection of an electromagnetic counterpart to a gravitational wave event. Combined with the detection of gamma-rays with the Fermi-LAT telescope, this also confirms that neutron star mergers are responsible for short gamma-ray bursts.  
 
The results from these optical observations are reported in A kilonova as the electromagnetic counterpart to a gravitational-wave source published in Nature in October 2017.
 
“Our paper is one of a few that will be submitted by different groups that will report on this discovery, including a large LIGO-Virgo paper summarising all observations. The main results from our paper were obtained through the New Technology Telescope, the GROND system, and the Pan-STARRS system. The Boyden observations helped to obtain extra observations during the first 72 hours which showed that the light of the source decreased much quicker than was expected for supernova, classifying this source as a kilonova,” Dr Van Soelen said.

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