During the launch of the EDHE-ABSA Innovation Challenge that took place at the University’s Student Centre on 25 June 2025, a very significant announcement was made. The Director: Entrepreneurship, Universities South Africa (USAf), Dr Edwell Gumbo, announced the partnership between Universities South Africa (USAf) and ABSA. Dr Gumbo said the step represented a comprehensive approach to advancing the economic participation of students and graduates within universities as entrepreneurial ecosystems, addressing the prevalence of graduate unemployment.
Dr Gumbo said there were three focus areas for the partnership, the first one being student entrepreneurship. This area emphasises the advancement of economic participation among students and graduates, and the creation of an environment that empowers students to be economically active during and after their studies. The second focus area is on entrepreneurship in academia. Dr Gumbo said that this area will focus on entrepreneurship through teaching, learning and research, and support and equip academics in embedding entrepreneurship. The last area is entrepreneurial Universities. Dr Gumbo said that within the context of an entrepreneurial university, students will also be more likely to develop an entrepreneurial skillset and mindset, and encourage and promote an entrepreneurial mindset and culture, as well as subject-specific entrepreneurship education.
The partnership aligns with ABSA’s ‘Financial Inclusion Through Entrepreneurship Strategy’, which seeks to support youth into entrepreneurial action. According to Dr Gumbo, the strategy also looks at the individual, the institutions that individuals are a part of, as well as the initiatives which ABSA partners with to pathway youth into entrepreneurial action.
Dr Gumbo said that the USAf-EDHE partnership aims to create a vibrant entrepreneurial ecosystem across South Africa’s 26 public universities through four interconnected projects. One of the major banks in South Africa, ABSA, is heavily involved in promoting entrepreneurship at universities across the country. ABSA has a collaboration with EDHE. They are calling South African students to pitch their business ideas and could win a large sum of cash. The bank’s initiative aims to integrate entrepreneurial skills into higher education, enabling students and graduates to contribute actively to sustainable economic growth. By addressing graduate unemployment and fostering innovation, the project embodies ABSA’s commitment to empowering youth and promoting financial resilience.
The collaboration with EDHE enables ABSA to strengthen its brand as a leader in innovation and social impact, aligning with its core values of shared growth and inclusive prosperity. This partnership creates a unique opportunity for ABSA to expand its SME client base, enhance brand visibility, and establish long-term relationships with South Africa’s future business leaders and innovators. The University’s Vice-Chancellor and Principal, Professor Nokuthula Sibiya, said the partnership with EDHE and ABSA “is not just a launch event. It is a profound declaration; a commitment to empowering the next generation of South African innovators and job creators. It is a belief that our universities are not just spaces of learning, but powerful engines of economic transformation”. Dr Gumbo also announced the EDHE Studentpreneurs Indaba, an annual event that brings together 250 students and 100 university staff, promoting knowledge sharing, innovation, and collaboration. Its objectives include showcasing student-led businesses.