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Financial inclusion symposium at UFS inspires young entrepreneurs

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

Help to rural women to become entrepreneurs

2006-10-24

Some of the guests who attended the ceremony were, from the left: Mr Donray Malabie (Head of the Alexander Forbes Community Trust), Ms Jemina Mokgosi (one of the ladies from Tabane Village who is participating in the Women in Agriculture project), Dr Limakatso Moorosi (Head: Veterinary Services, Free State Department of Agriculture), Prof Johan Greyling (Head: UFS Department of Animal and Wildlife and Grassland Sciences) and Ms Khoboso Lehloenya (coordinator of the project from UFS Department of Animal and Wildlife and Grassland Sciences). Photo: Leonie Bolleurs\

Alexander Forbes and UFS help rural women to become entrepreneurs

Today, the Alexander Forbes Community Trust and the University of the Free State (UFS) joined forces to create an enabling environment for rural women to become players in the private sector.

Three years ago the UFS set up a unique small-scale household egg production project called Women in Agriculture in Thaba ‘Nchu as a pilot project. The project was officially launched today by Mr Donray Malabie, Head of the Alexander Forbes Community Trust.

The aim of the Women in Agriculture Project is to create jobs, provide food security and to help develop rural women into entrepreneurs. A total of 25 women based in Tabane Village in Thaba ‘Nchu are the beneficiaries of the project.

“This is the first project in the Free State the Alexander Forbes Community Trust is involved with. The project would help rural women acquire the skills they need to run their own egg-production business from their homes,” said Mr Malabie.

“The ongoing debate on the shortage of skills ignores the fact that people with little or no education at all also need training. This project is special to the Trust as it provides for the creation of sustainable jobs, food security and the transfer of much needed skills all at once, particularly at this level,” he said.

Every woman in the group started with two small mobile cages that housed 12 hens each. The units are low in cost, and made of commercially available welded mesh and a metal frame. Now, each woman has four cages with 48 hens. The group manages to collectively produce 750 eggs daily.

The eggs are currently sold to local businesses, including spaza shops and the women are using the income generated to look after their families and to further develop their business.

The Department of Animal and Wildlife and Grassland Sciences at the UFS identified the project and did the initial research into the feasibility of setting up such a project.

“A demonstration and training unit has been established at the Lengau Agricultural Development Centre and the women attended a short practical training course. Subsidies are provided for feeding, together with all the material and the lay hens necessary for the start of the business,” said Ms Khoboso Lehloenya, coordinator of the project from the Department of Animal and Wildlife and Grassland Sciences at the UFS.

“The advantage in using lay hens is that they are resistant to diseases and the women will not need electric heating systems for the egg production,” said Ms Lehloenya.

According to Ms Lehloenya, the women are already benefiting from their egg production businesses. “Some of them have used the profit to buy school uniforms and tracksuits for their children and others are now able to make a monthly contribution to their household expenses,” said Ms Lehloenya.
“In South Africa, possibly due to cultural reasons and circumstances, most black people prefer to eat older and tougher chickens, compared to younger soft commercially available broiler chickens. This preference creates a further advantage for the women. At the end of their production cycle, old hens can be sold for a higher price than point-of-lay or young hens. This brings in further money to pay for more hens,” said Ms Lehloenya.

The Alexander Forbes Trust contributed R191 000 towards the project aimed at expanding it to benefit 15 more women.

“We are in the process of recruiting an additional 15 women in Thaba ‘Nchu who will be trained by the Lengau Agricultural Development Centre in order to replicate the model and extend its reach”, said Ms Lehloenya.

Media release
Issued by: Lacea Loader
Media Representative
Tel: (051) 401-2584
Cell: 083 645 2454
E-mail: loaderl@mail.uovs.ac.za
20 October 2006

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