The Banking Association South Africa - Annual Review 2015
University fees, set above the inflation rate for 2016, sparked unrest at tertiary institutions across South Africa and the #FeesMustFall campaign was the catalyst for a serious discussion on the cost of higher education. A government initiative suspended fee increases for 2016 – the cost of R2,4 billion would be borne by government at R1,9 billion and the universities at R500 million. In addition, a commitment to settle the historical debts of poor students would escalate the cost to R4,5 billion, necessitating a discussion on sustainable financing options through a public-private partnership.
Our visual theme for 2015 focuses on the state of higher education in the country and the significant role universities play in socio-economic change and the broader social dialogue. The banking industry spent over R450 million on education-related programmes in 2015, over and above student loans. As an industry, we will continue to finance education, given its importance as an enabler of economic growth that can improve the quality of life for all South Africans.
The Banking Association South Africa Annual Review 2015 to download the full review.