A SYMBOL OF LOVE FOR FORT HARE: Deloitte Donates R500 000 To UFH Department of Accounting

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The University of Fort Hare’s Nkuhlu Department of Accounting has received a donation of R500 000 from Deloitte, one of the Big Four and the largest professional services network in the world. The donation comes with an ongoing commitment to support thought leadership initiatives within the Department.

Mr Lwazi Bam - CEO of Deloitte Africa made the announcement during a special virtual handover ceremony on Tuesday, 23 February.

Bam said Deloitte recognises Fort Hare as one of the universities that continue to play a major role in the development of the country. “That is why we agreed to the donation. In addition, we want to broaden our participation by looking into how we could partner with the university. We have made a commitment to support the department on issues of thought leadership and to help enable access to resources and expertise in the field. We hope this contribution will help lead us in a particular direction, to restore trust in this profession and assist in developing the accounting and auditing profession," he said.

Vice-Chancellor, Prof Sakhela Buhlungu received the donation on behalf of the university and defined the gesture as 'a gift of love to Fort Hare’.  Also representing  Management were:

  • Prof Renuka Vithal (Deputy Vice-Chancellor - Academic Affairs)
  • Dr Ntombovuyo Wayi (Dean of the Faculty of Management and Commerce)
  • Ms Wendy Terblanche, Head-Accounting Department
  • Ms Chuma Mjali (Deputy Head – Accounting Department)

Also in attendance were members of the Accounting Department's Advisory Board – all external stakeholders, namely:

  • Ms Zee Harduth  (Office of the Auditor-General) 
  • Ms Jacqui Mauer ( PricewaterhouseCoopers) 
  • Mr Lwando Bantom and Olwethu Kente (South African Institute of Chartered Accountant
  • Ms Nontuthuzelo Zulu(Department of Higher Education and Training)
  • Mr Sibongile Stuurman (UFH alumnus)  and;
  • Loren Smith (Marais & Smith Chartered Accountants).

Welcoming Mr Bam, Prof Buhlungu said the Nkuhlu Department of Accounting is that one place in the university that illustrates the generosity of people.

 “This Department is what it is today, and what it will be in the future, because of that goodwill. As we welcome you Mr Bam, we are saying thank you for this, you are walking in the footsteps of many people. And most importantly, the footsteps of the person who gave his name to this Department –

Professor  Wiseman Nkuhlu,” said the VC.

Prof Vithal thanked Deloitte for choosing the University of Fort Hare. “We would like to repay the confidence expressed in us by Deloitte by driving major changes in the training of the scholars we produce, developing research and asking probing questions. UFH is well-positioned to be a leader in providing answers to some of the critical questions,” she said.

 In closing, members of the UFH Management assured Deloitte that the Department and Faculty would use the funds and support optimally.