The UCT Graduate School of Business (GSB) was crowned the top business school on the continent for the eighth year running.
More than 1000 deans and directors from respected business schools across the globe gathered in Boston for workshops and lectures to discuss the future of business schools internationally. Other topics discussed included how to respond to the changing needs of business school students, global collaboration, the role of international alumni networks in growing a new population of business leaders, and the future of digital education.
The best 1000 schools from 154 countries participated, and the GSB was ranked as the continent’s top choice out of 74 schools across Africa. In second place was the American University in Cairo School of Business, Egypt followed by the University of Stellenbosch Business School in third place.
“We are extremely honoured to be selected once again by this prestigious body,” says the GSB’s market intelligence and strategy manager Saskia Hickey.
“It is a validation of all that we have continued to strive for, and we hope we can continue to deliver the same standard of excellence that both our students and peers have come to expect.”
Professor Walter Baets, GSB Director says the GSB takes its role in accelerating development in Africa very seriously.
“We must always strive to improve on our academic and research output, and design programmes that stimulate our students. We must create conditions that allow innovative responses to African challenges to emerge.”
Baets pointed out that there were enormous opportunities on the African continent and that it was the GSB’s goal to produce business leaders that would embrace these.
“As of July this year, Africa’s gross domestic product growth was expected to strengthen to 4.5% in 2015 and 5% in 2016,” he says.
“A chapter in the African Economic Outlook recently noted that individual regions have shown resilience in the face of significant challenges.”
Baets gave a number of examples of African countries that had overcome significant challenges. “West Africa achieved growth of 6% in 2014 despite its battle with the Ebola virus. Nigeria’s growth of 6.3% came mainly from non-oil sectors, a sign of a diversifying economy. And many individual African economies have been resistant to the fall of commodity prices globally. Production has often increased, in fact, with growth being boosted by other sectors,” he said.
“Africa is forecast to remain one of the world’s fastest growing regions despite ongoing social and political difficulties. Indeed, it is often these challenges that provide inspiration for the enterprising businessperson.”
The GSB is one of just three business schools in Africa to be triple-crowned, meaning it has accreditation from the Association to Advance Collegiate Schools of Business (AACSB), AMBA (the Association of MBAs) and the European Foundation for Management Development, which awards the European Quality Improvement System (EQUIS).
“Eduniversal is a peer-rating system and it means a great deal to us to achieve recognition, not only amongst our colleagues on our own continent, but also internationally,” says Hickey.
“We believe that the key to solving global challenges is through collaboration and partnerships, which was one of the key focuses of this convention – so it is hugely important to us to reinforce relationships with our colleagues at other business schools in this way.”