Rhodes University Vice Chancellor, Dr Sizwe Mabizela, said the country was in deep crisis with much at stake for new graduates.
Dr Mabizela's remarks are contained in a 12-page address that he had been delivering during three days of graduation ceremonies in Grahamstown.
In his address, Dr Mabizela told graduating students that "your graduation ceremony … takes place as a particularly challenging time in the history of our young democracy".
"You graduate at a time when our country is at a crossroads. You graduate at a time when our nation is engulfed with anger, turbulence, and racial polarisation," he said.
Dr Mabizela said students were graduating into a society "in which greed, corruption, deceit, and malfeasance have been perfected into an art form."
He said these were "extraordinary times" and also "uncertain times."
"We are witnessing extraordinary events unfolding in front of our own eyes. Much is at stake,' Dr Mabizela said.
The Rhodes Vice Chancellor said that "what is beyond dispute though is that at the core of the challenges facing our society is the spectacular failure of political leadership."
"Indeed, if nothing else, the current crisis should underline the importance of electing leadership that is competent, accountable, honest and trustworthy," he said.
He said "all our challenges, notwithstanding, we should never allow apathy, despair, cynicism or despondency to take hold in our society".
"Your graduation ... fills us with hope that the future of our nation will be different to the one we experience today because of all that you can bring to the task of making it a better place," Dr Mabizela said.
During graduation this past week Rhodes conferred honorary doctorates to Dr Sheila Sisulu, Dr Marguerite Barankitse, US artist, Linton Kwesi Johnson, Prof Penny Siopis and on Saturday to Zuma critic, Dr Barney Pityana.