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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

Study Abroad Fair presents exciting opportunities
2013-04-23

 

Staff and students gain a wealth of information at the first Study Abroad Fair hosted on the Bloemfontein Campus.
Photo: Stephen Collett
23 April 2013

Kovsie staff and students gained a wealth of information at the first Study Abroad Fair hosted by the Office for International Affairs on the Bloemfontein Campus.

Representatives from partner universities across the USA, Europe and Asia took part in the fair, giving information on study opportunities abroad. They were joined by representatives of international funding agencies and foreign missions from countries including Canada, Indonesia, France and the Republic of Azerbaijan, who gave information on funding opportunities to study overseas.

Welcoming visitors, Ms Dineo Gaofhiwe-Ingram, Assistant Director: Internationalisation, said international education forms a very important and critical part of the university’s strategy of aiming and working towards becoming a research intensive university.

“I believe all here understand and know the value of an international education, both as a donor agency, as an embassy that has bilateral agreements with the South African government to support education, and as a staff member that is here with students to encourage them to go abroad. It is important that our staff and students get to learn and experience from others and others from them.”

Dr Choice Makhetha, Vice-Rector: External Relations, encouraged Kovsies “to visit the world and bring the world back to the UFS.”

Prof Jonathan Jansen, Vice-Chancellor and Rector, had a similar message, talking about the advantages of seeing the world. “You never get to be a good leader unless your sense of the world is bigger than yourself. My goal is to make sure that almost every undergraduate student has some experience of studying abroad.“

List of Exhibitors who took part in the Study Abroad Fair:

1. Funding Agencies
Embassy of USA
Embassy of France
Embassy of The Republic of Azerbaijan
European Union
Embassy of Canada
National Research Foundation (NRF)
Embassy of Switzerland
Embassy of Indonesia
Czech Republic Embassy
Research Africa
British Council

2. Partner Universities Abroad
Mahasarakham University (Thailand)
Appalachian State University (USA)
University of Brussels
Radboud University Nijmegen
The Hague University of Applied Sciences
University of Bremen
VU University Amsterdam
University of Groningen
University of Antwerp
University of Leuven
Jönköping University

3. UFS Representation
Postgraduate School (UFS)
Office for International Affairs (UFS)
Faculty of Education (UFS)
Department of Plant Sciences (UFS)
Department of Social Work (UFS)

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