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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 opens centenary complex
2004-10-12

Today, 12 October 2004, the University of the Free State (UFS) opens the Centenary complex on the grounds of the old Reitz dining hall.

Me Edma Pelzer, Director: Physical Resources and Special Projects at the UFS, said the Centenary complex is furnished mainly for personnel and alumni, just as the Thakaneng Bridge was primarily established as gathering place for students.

On 10 March 2004 the UFS management held the first official function in the half completed complex during the unveiling of the memorial stone by the Rector, Prof Frederick Fourie. What made this occasion remarkable is that old President FW Reitz, 81 years earlier, on 10 March 1923, also laid a memorial stone at the same place, said Ms Pelzer. The complex originally existed of the Reitz dining hall, which was named after old president Reitz, a hostel father residence and administration offices. In historical documents about old president Reitz it is mentioned that already as chief judge he campaigned for the establishment of a university in the Free State and later as president he proceeded with this attempt.

With the opening of the Thakaneng-bridge food preparation and -serving at the Reitz dining hall was discontinued. The kitchen and dining facilities became obsolete. With the evacuation of the old student centre replacements for the Bloemfontein- and Anlgo American-rooms were to be found elsewhere on campus. The idea to convert the historical Reitz building complex in an UFS reception and a space for socialising started to exist.

Ms Pelzer said the UFS is committed to treat its history and its old buildings with respect and to utilise it optimally to enhance the strategic objectives of the university. The Centenary complex must communicate the university as an established, quality institution with an interesting history to visitors. It must serve as a home for alumni and as a one stop visiting point for important visitors who do not have time to experience the whole campus.

In the complex provision is made for entertaining and kitchen facilities, a museum where valuable UFS-memorabilia are kept and exhibited, an amfi theatre and an art gallery which would for the first time offer a permanent home for the art collection of the UFS. Venues will accommodate groups from between 15 to 300 persons.

The reception area will be used by the UFS for occasions such as chancellors’ functions, smaller and bigger receptions for the rector, tea parties after graduation ceremonies, openings of conferences and long service awards. The university also plans to rent out the complex for prestige occasions where the UFS personnel and alumni are involved.

The opening of the Centenary complex form part of the Centenary celebrations of this week. Many of this week’s activities will take place in the complex.

Media release
Issued by: Lacea Loader
Media Representative
Tel: (051) 401-2584
Cell: 083 645 2454
E-mail: loaderl.stg@mail.uovs.ac.za
12 October 2004

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