Rhodes University‚ one of South Africa’s top tertiary institutions‚ which has faced major cash flow problems in recent months‚ insisted on Wednesday that it remained a “going concern“.
Reports emerged earlier in July that the university had fewer than two months of funds remaining to cover its financial commitments such as salaries‚ electricity‚ water and food for the dining halls.
The university’s cash flow crisis was triggered by last year’s a zero-percent fee increase and the decision to reduce the minimum initial payment (a deposit for the full tuition and residence fees) from 50% to 10% following the nationwide #FeesMustFall protests.
In an e-mailed communiqué to alumni‚ parents‚ donors and funders of the university‚ Rhodes University vice-chancellor Sizwe Mabizela said that the institution was not about to close down.
“Let me state from the outset that Rhodes University is a going concern. It is not about to close down. The financial strain currently experienced by Rhodes University is experienced by all public universities in SA‚” said Mabizela.
Read the full story on the Business Day website www.bdlive.co.za
Cash-strapped Rhodes still a 'going concern' - vice-chancellor
Reports emerged earlier in July that the university had fewer than two months of funds remaining to cover its financial commitments such as salaries‚ electricity‚ water and food for the dining halls.
The university’s cash flow crisis was triggered by last year’s a zero-percent fee increase and the decision to reduce the minimum initial payment (a deposit for the full tuition and residence fees) from 50% to 10% following the nationwide #FeesMustFall protests.
In an e-mailed communiqué to alumni‚ parents‚ donors and funders of the university‚ Rhodes University vice-chancellor Sizwe Mabizela said that the institution was not about to close down.
“Let me state from the outset that Rhodes University is a going concern. It is not about to close down. The financial strain currently experienced by Rhodes University is experienced by all public universities in SA‚” said Mabizela.
Read the full story on the Business Day website www.bdlive.co.za
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