The man was hijacked on Tuesday and his captors contacted his parents demanding R3 million for his release, Warrant Officer Kay Makhubela said.
The parents indicated they did not have enough money and the kidnappers dropped their ransom to R1m and then to R500,000. The student’s parents did not pay the ransom.
The university’s security guards found the man walking in an open field on Wednesday morning and took him to the university.
The student later told police his kidnappers threatened to kill him and he pleaded for his life.
The student was taken to a doctor but was not physically harmed, Makhubela said.
“His wallet and card were taken but according to the student no money has been withdrawn.”
The student’s car had not been found by 10am.
“A case of kidnapping was opened and we are searching for three suspects who are still on the run,” Makhubela said.
He appealed to anyone with information on the case to contact the police.