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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 attracts excellent and diverse students
2015-08-20


Matshediso Mokoena and Thato Monkoe.
Photo: Thabo Kessah

When Thato Monkoe and Matshediso Mokoena sat for their final matric examinations in 2014, all they had on their minds was not just passing, but passing well. Little did they know at that time that passing well would place so much responsibility on their shoulders.

 

Both Thato and Matshediso come from rural and disadvantaged backgrounds. They are first-year students at the Qwaqwa Campus of the University of the Free State, and are the first in their respective families to study at a university.

 

Thato describes his situation as “sad and good at the same time”.

 

“It is good, because I am the first one at home to have completed my matric and to have gone on to study at a tertiary institution. At the same time, it is sad as I feel sorry for my siblings who, for various reasons, did not have similar opportunities when they opted out of school”, said Thato, a BEd student.

 

”Now my sister and brother, as well as the entire family, perceive me as the one with brains, and this makes me uncomfortable. However, I am up for the challenge to be the first one to graduate with a degree in my family”.

 

Matshediso Mokoena, a BSc student, who obtained distinctions in Mathematics, Physical Sciences, and Life Sciences last year, concurs with Thato.

 

”As much as my family is supportive, there is always pressure as they expect the best from me,” she said.

 

“The pressure does not only come from my family. My entire community looks up to me, and they can’t stop talking about my achievements”, Matshediso revealed.

 

Both Thato and Matshediso are, however, happy that the dark cloud of doubt about academic achievement in their families has finally disappeared.

 

“At least someone in my family is hard at work carving her future, and willing to set a good example. That person is me”, said Matshediso, who aspires to be a medical doctor, and has a younger sister in Grade 8.

 

Thato and Matshediso are just two of hundreds of students making good use of the University of the Free State’s commitment to attract excellent and diverse students at both undergraduate and postgraduate levels, as reflected in the Strategic Plan 2015-2020.


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