SOFA 2025: FEFS STRENGTHENS ACADEMIC AND INDUSTRY TIES TO BOOST GRADUATE EMPLOYABILITY

The Faculty of Economic & Financial Sciences (FEFS) has reaffirmed its commitment to academic excellence, research innovation, and sustainable development during the 2025 State of the Faculty Address, delivered faculty Executive Dean, by Professor Manoj Panicker.

The address highlighted the faculty’s progress, challenges, and strategic direction while aligning its initiatives with the United Nations Sustainable Development Goals (SDGs).

“Our mission is to develop a new generation of highly skilled, adaptable graduates to address complex societal challenges through innovative, technology-infused, and African-centred scholarly practices,” said Panicker.

To support this mission, the Executive Dean highlighted the faculty’s postgraduate success with 26 master’s and 32 honours graduating in 2024.

“Research publication output is on an upward trajectory, reinforcing WSU’s commitment to innovation and knowledge generation to support economic and financial industries in South Africa.”

FEFS has established and strengthened industry partnerships to enhance student employability and professional development. Existing collaborations include South African Institute of Chartered Accountants (SAICA), Accounting Technicians South Africa AT(SA), Auditor-General South Africa (AGSA), and Standard Bank.

Meanwhile, discussions are underway with Chartered Institute of Management Accountants (CIMA), Association of Chartered Certified Accountants (ACCA), South African Institute of Government Auditors (SAIGA), Institute of Internal Auditors (IIA), Independent Regulatory Board for Auditors (IRBA), ABSA, Investec, Momentum, and Nedbank to create alternate pathways for professional qualifications.

Furthermore, a partnership with Victoria University of Wellington, New Zealand, aims to enhance research-based Master’s and PhD programmes, alongside a potential bursary collaboration with the Consulate General of India to support postgraduate students.

“In an effort to bridge academia and industry, FEFS continues to expand its Short Learning Programmes (SLPs), with seven new programmes approved for 2025. These initiatives focus on entrepreneurship, financial literacy, and leadership, equipping students and community members with skills to thrive in a dynamic economy,” said Panicker.

Through the Centre for Entrepreneurship & Rapid Incubation (CfERI), the faculty has played a vital role in fostering small business development and job creation.

In 2024 alone, CfERI supported 35 small businesses, including 25 WSU suppliers and 9 student entrepreneurs, additionally, facilitating the creation of 13 new jobs while sustaining 15 existing jobs.

The centre also contributed to local economic growth by helping six businesses increase their turnover by 5%, supporting UN SDG 8 which stipulates decent work and economic growth, which promotes sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all.

Gana proposed the establishment of a graduate development programme, describing it as a key initiative that could contribute to the growth of both the municipality and the faculty.

“One of the biggest challenges we are sitting with as municipality is the number of unemployed graduates which diminishes the value of education. It in turn creates a challenge of convincing young people in our communities to go and further their studies, which is why we need to join hands and tackle this problem together,” said Gana.

Meanwhile, SAICA representative Prof Lungile Ntsalaze applauded the progress made by the university and the faculty in cementing itself as an integral stakeholder in the Eastern Cape community.

By Ongezwa Sigodi