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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

Kovsies raise their voices to say no to racism – and yes to equality

2015-03-13

SRC President, Mosa Leteane
Photo: Hannes Pieterse

Launch of the No-to-Racism/Yes-to-Equality Campaign : Video

In support of National Human Rights Month, the UFS has launched the No-to-Racism/Yes-to-Equality Campaign. Through this campaign, the entire UFS community reaffirms its commitment to equality, respect, democracy, social justice, humanity, dignity, human rights, and diversity.

The first leg of the campaign, No-to-Racism, was launched at the Qwaqwa, Bloemfontein and South Campuses during the past month. “Look in the mirror tonight and have a discussion with yourself,” Prof Jonathan Jansen, Vice Chancellor and Rector of the UFS, said during the launch at the Bloemfontein Campus. “Ask yourself to what extent can I truly say, ‘I am dealing with my racism, my bigotry, my ethnicism, my homophobia, my xenophobia? Am I truly dealing with those in my life?’”

Through the No-to-Racism Campaign, staff and students are encouraged to take a public stand against not only racism, but also homophobia, sexism, ableism, xenophobia, classism, ethnicism, ageism, and all forms of intolerance and othering.

The start of No-to-Racism will closely be followed by the Yes-to-Equality Campaign, which will be launched on 1 April 2015.

SRC President, Mosa Leteane, urged the Kovsie community to make South Africa work. “We say ‘no’ because we want to say ‘yes’. Fix your ‘no’ so that your ‘yes’ is clear, it’s equal, it’s honest. That is what ‘yes’ looks like.”

The campaign is also aligned with the declaration made by the UFS Council in November 2014 in which it was stated that “the Council of the University of the Free State believes very strongly in the human dignity, equality, and freedom of all people. Accordingly, the Council reaffirms its abhorrence of acts of racism, sexism, and unfair discrimination of any kind or in any form”.
The No-to Racism/Yes-to-Equality Campaign is an initiative of the Institute for Reconciliation and Social Justice, together with the SRC.

Important dates:
1 April 2015: Launch of Yes-to-Equality Campaign on the Qwaqwa and Bloemfontein Campuses
13 April 2015: Pledge of the UFS community at 12:45 on the Red Square, Bloemfontein Campus

For more information or enquiries contact news@ufs.ac.za.

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