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23 February 2025 | Story André Damons | Photo Supplied
UFS Main Building
The University of the Free State in partnership with the Department of Science, Technology and Innovation (DSTI), will form the backdrop for the G20 Research and Innovation Working Group (RIWG) and G20 Initiative on Biochemistry (GIB) meetings in February.

The University of the Free State (UFS) will form the backdrop for the G20 Research and Innovation Working Group (RIWG) and G20 Initiative on Bioeconomy (GIB) meetings on 23 and 24 February 2024.

UFS has, over the years, distinguished itself as a leader in the research and development, particularly in the biodiversity space through its African Medicines, Innovations and Technologies Development (AMITD) platform, which was established in collaboration with the Department of Science, Technology and Innovation (DSTI) and its entity, the Technology Innovation Agency.  It was therefore an obvious choice for the institution to again partner with the DSTI to host the G20 meetings.

The G20 is an international forum comprising many of the world's largest developing and developed economies, established to tackle pressing global economic and financial issues.

South Africa holds the G20 Presidency this year – only five years before the UN's 2030 Agenda for Sustainable Development deadline.  This is the first time the G20 is being hosted on African soil.

South Africa's presidency takes place when the world is facing a series of overlapping and mutually reinforcing crises, including climate change, underdevelopment, inequality, poverty, hunger, unemployment, technological changes, and geopolitical instability.

The G20 RIWG provides a platform for addressing global challenges through research, technology and innovation.  The DSTI will lead the RIWG under the leadership of Minister Blade Nzimande and explore this year's theme, "Equity in science and innovation-based approaches to sustainable development".

Prof Nzimande, along with Prof Hester Klopper, Vice-Chancellor and Principal of UFS, will both deliver opening remarks at the meeting.

The session on 23 February will be the first to include G20 officials engaging with indigenous knowledge holders, students and researchers in the bioeconomy.

Prof Motlalepula Matsabisa, Director of the Department of Pharmacology and AMITD at UFS, says the university was an excellent choice to host the sessions because of its trusted relationships with indigenous communities and focus on inclusive research and development.

The G20 dialogues aim to be inclusive and provide a space for members of the public to voice their aspirations and to capture their needs around the indigenous knowledge and biodiversity in which they play an integral role.

"I am honoured to be part of this global event.  I am so happy that AMITD is now globally recognised.  We will exhibit our research conducted with communities on the internationalisation of South African science research in traditional medicines and biodiversity, and its formal commercialisation," said Prof Matsabisa.

"We are the leader in traditional medicines research and development.

"South Africa always leads in global debates and sets the stage for African views to be heard.  We will contribute to policies on global biodiversity and bioeconomy and commercialisation of our natural resources through equity, sustainability and solidarity.

Prof Matsabisa believes this event will also highlight the goals of the DSTI's 2019 White Paper on Science, Technology and Innovation and the implementation of its 2022-2032 Decadal Plan.

He hopes to see tangible and meaningful outcomes from the G20 discussions that will be implemented by the USA when it takes over the G20 Presidency for 2026.

News Archive

UFS and BMF present a crash course on Financial Literacy for Young Entrepreneurs
2017-08-23

 Description: UFS and BMF present a crash course on Financial Literacy  Tags: UFS and BMF present a crash course on Financial Literacy

Starting a business, big or small, can be a really difficult task – especially if you are not equipped with the basic business knowledge to help you kick-start this project.

For this reason, the University of the Free State (UFS), in collaboration with the Black Management Forum (BMF), held a Financial Literacy Workshop for Young Entrepreneurs on the Bloemfontein Campus early last week to assist in this regard.

Young entrepreneurs equipped with business knowledge for start-ups
The purpose of the workshop, which was presented by Francois Marais and Eduard Loots from Riskflow, was to equip young entrepreneurs with knowledge and skills to assist them in the business world. The main focus was on training start-up businesses to prepare business plans, and training was given to researchers, developers, and innovators on how to commercialise their inventions.

Ansie Barnard, Senior Officer in the UFS Business School, says since the involvement of the school in entrepreneurship development over the past few years, they came to the realisation that many of these new businesses tend to fail within a year because they do not have a suitable financial model.

“This is the reason why we utilised Riskflow Financial Modelling Software, since it does all the accounting calculations on their behalf,” says Barnard.

Introduction to basic business banking
In addition to this, the participants were introduced to the basics of business banking, with Standard Bank and the Industrial Development Corporation (IDC) as the guest presenters providing them with this information.

BMF’s Rozanne Brown says that many of these young entrepreneurs have the desire to succeed in business; therefore there is a need for this type of workshop.

BMF and the UFS Business School will look into hosting more entrepreneurial workshops in the future,” says Brown. All attendees of the workshop will receive certificates for their participation.

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