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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

Khayalami residence launches first in-house library
2016-04-21

Description: 2016 KL News Khayalami library  Tags: Khayalami residence launches first in-house library in the country
Bongani Mtotoba (left) and Sinoxolo Gcilitshana (right) at the first-ever 24 hour in-house library at Khayalami residence. The librarian and Deputy Residence Head respectively hope to revive the culture of reading on our Bloemfontein Campus.
Photo: Valentino Ndaba

“It is said that reading means to the brain what exercise means to the body. For that reason, we want to bring back the culture of reading to our students who are, after all, the future replacement of the leadership of our wounded and broken country,” said Sinoxolo Gcilitshana, Deputy Residence Head, and Prime of Khayalami.

Titles such as A Life Ever Lasting by Miranda Hearn, To Live Free by William Wilberforce, Powers of Darkness Powers of Light by John Cornwell, and Character Counts by Charles Dyer are among the 228 inspirational books on the shelves of Khayalami residence’s library. Tuesday 12 April 2016 was a proud moment for the residence as it launched the first library in the country located within a university residence on the Bloemfontein Campus of the University of the Free State.

Last year, Dimpho Jasa, a resident at Khayalami, approached Sinoxolo, who then held the Residence Committee (RC): Academics portfolio, with an idea of forming a book club. Sinoxolo had suggested that a library be established in order to make the book club sustainable. That conversation served as a foundation of the 24 hour in-house library.

“We started with five books last year,” said Sinoxolo, “and ever since we sent the message out, the Vice-Chancellor and Rector, Prof Jonathan Jansen has been supporting us together with the Vice-Rector, Prof Nicky Morgan, as well as the Dean of the Faculty of Education, Prof Sechaba Mahlomaholo, and the Head of the Department of English, Prof Helene Strauss.”  

Now, more than 170 young men have access to a growing library that is expected to hold 1500 books by September, when Sinoxolo steps down as the Prime. According to Bongani Mtotoba, the RC: Academics and librarian, some residents have made pledges to help expand the collection. “The response has been quite positive from the guys,” he said.

Borrowers are required to submit a book review upon returning the book. This feedback will be compiled by the English Department into a book available to the public.

Khayalami’s pioneering spirit has also seen the residence run a successful writing competition in 2015. It has since been introduced to the rest of the East College, and now will take place annually.  

For more information on how to donate books or enter the writing completion, contact Sinoxolo on 0783332203 or semsinoxolo@hotmail.com.

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