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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

Staff, students, learners and the public opened their hearts during R5 coin-laying ceremony
2012-07-19

Photo: Sonia Small
18 July 2012

Amidst a festive atmosphere on the Red Square in front of the Main Building on the Bloemfontein Campus of the University of the Free State (UFS), students, staff, learners and members of the public came together to make their contribution to stop hunger.

In celebration of former president Nelson Mandela’s birthday, the university collected money and food in the form of a coin-laying ceremony, the packing of food parcels, and a message delivered by Emeritus Archbishop Desmond Tutu in aid of the university’s No Student Hungry (NSH) campaign and Bloemfontein Child Welfare.

Representatives from schools in Bloemfontein donated their R5 coins, together with university staff, students, members of the public, and employees of Pick n Pay Hyper. Money collected at the coin-laying ceremony will be shared between NSH and Bloemfontein Child Welfare.

According to Ms Grace Jansen and Ms Carin Buys, patrons of NSH, the more than R42 000 that was collected will be donated to Bloemfontein Child Welfare in an effort by NSH to give back to the community. “We are impressed by the number of people who showed up and by the fact that people opened their hearts and pockets to give,” said Ms Buys.

Thirty employees of Pick n Pay Hyper in Bloemfontein were also present and packed 1 833 food parcels (equivalent to 11 000 meals). This forms part of a Pick n Pay initiative in cooperation with Stop Hunger Now that is being held countrywide today.

In total, 88 000 meals will be distributed in six cities in South Africa today. The 11 000 meals in the Free State have been donated to the university and according to Ms Jansen a social worker at the UFS will distribute it to other needy students. These are students who do not receive bursaries from NSH at the moment. Every food parcel contains rice, dried vegetables, soya, and vitamin and mineral enriched powder.

The university was honoured to have Emeritus Archbishop Desmond Tutu as the speaker at the event. He attended a dialogue in the Series of Dialogue between Science and Society today at the university where he took part in a conversation with Profs. Mark Solms and Pumla Gobodo-Madikizela as part of the Global Leadership Summit.

He made a special appearance at the university’s Nelson Mandela Day festivities. His message was simple but inspiring: “Everyone has, just like Madiba, the capacity to change lives. I hope there are people present who can say that they want to improve someone else’s life. You have the chance to make South Africa a country where no one goes to bed hungry. Help us to make South Africa a country where we have compassion for each other and care for each other”.

The UFS would like to thank the following schools for their contributions: 

Grey Kollege Primêre Skool
Grey Kollege
St Michael's School for Girls
Hoërskool Jim Fouché
Hoërskool Fichardtpark
Hoërskool Sentraal
Navalsig High School
HTS Louis Botha
Eunice High School 


 

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