The Department of Information and Corporate Management (ICM) at the Durban University of Technology (DUT) has reached a significant milestone in its journey of empowering students and fostering industry-relevant skills. Through a ground-breaking Memorandum of Understanding (MoU) with the Finance and Accounting Services Sector Education and Training Authority (FASSET), the department has secured a remarkable sum of R3,250,000, marking a pivotal moment in the academic institution’s history.

The Head of Department in the department of Information & Corporate Management, Dr Smangele Moyane from the Faculty of Accounting & Informatics at DUT, said: “This substantial financial support paves the way for the enhancement of opportunities for 50 deserving students within the department. Each student will receive R65,000 to facilitate their immersion and training within the industry, enabling them to gain hands-on experience and develop critical skills necessary for success in their respective fields,” he said ecstatically.

She indicated further that what sets this initiative apart is not just the financial support provided but also the unwavering commitment to the holistic development of the students. “In addition to the  monthly stipend of R5,000 that each of the 50 students will receive from March 2024 to February 2025, the department will be supporting students with work preparedness training to further enhance students skills as demanded by industry. This stipend is carefully tailored to alleviate any financial burdens they may face while they dedicate themselves to gaining invaluable experience in their chosen fields,” commented Dr Moyane.

According to Dr Moyane, this partnership between the ICM Department and FASSET exemplifies the power of collaboration between academic institutions and industry stakeholders. She explained that by aligning their efforts, they have created a platform that not only supports students financially but also ensures they are equipped with the practical skills and knowledge needed to excel in the competitive world of business administration, Business, and information management.

Speaking to the Executive Dean of the Faculty of Accounting & Informatics, Prof Olugbara commented that the impact of this initiative extends beyond just the 50 students who directly benefit from it. It sets a precedent for future collaborations and demonstrates the potential for academic institutions to play a proactive role in bridging the gap between education and industry. “By investing in students and providing them with real-world opportunities, DUT’s Faculty of Accounting and Informatics is not only preparing them for successful careers but also contributing to the overall growth and prosperity of the business  and accounting sector,” he remarked.

Prof Olugbara professed that as the recipients of this generous support embark on their journey, they carry with them the promise of a brighter future, fuelled by the opportunities afforded to them through this transformative partnership. “With the support of the DUT community and industry stakeholders, they are poised to make meaningful contributions to the Information and Corporate Management profession, driving innovation, and fostering growth in the years to come,” he said.

Pictured: Students from the Faculty of Accounting and Informatics.

Siphokazi Dlamini