Latest news with #globaltransformation
Mail & Guardian
01-07-2025
- Business
- Mail & Guardian
A new approach to higher education will create great opportunities
Postgraduates, the future researchers, leaders and innovators, face an uphill battle for funding and support. Graphic: John McCann/M&G Higher education is under pressure globally to transform, and the current geopolitical uncertainties are not helping the situation. The role and value of higher education is being questioned and, as the cost of tuition increases so does student debt, with a resultant decrease in revenue for institutions of higher education. This is exacerbated by declining enrollment triggered by demographic shifts seeing parts of the world experiencing ageing populations and a shrinking college age population. In addition, competition from alternative education offerings, and degree pathways, online colleges, courses, trade school and apprenticeship programmes, offer students cheaper and often quicker and more cost-effective education choices. This said, according to a newly released study by United Nations Educational, Scientific and Cultural Organisation, the number of students enrolled in higher education worldwide surged from about 100 million in 2000 to about 264 million in 2023, more than doubling in just over two decades. But these gains are unevenly distributed across regions. In Europe and North America, nearly 79% of the tertiary-age population is in higher education — in stark contrast to only 9% in sub-Saharan Africa. Amid the need for transformation and increased access, higher education in South Africa and on the continent has many competitive advantages. Diminishing revenue is an issue and increasing student debt and costs are still high but are comparatively lower than many other countries. And although universities are criticised for being ivory towers removed from societal concerns, graduating students with degrees that bear no relevance for societies plagued by unemployment, studies show that despite high joblessness and stagnant economies people are still better off having a degree . South Africa does not experience any decline in enrolments. To the contrary, higher education institutions cannot absorb all the hopeful potential students that apply to study and the number of applications increases each year. In short we do not have the study spaces to increase enrolments further. The University of Johannesburg, for example, received more than 700 000 applications for just over 11 000 spaces for the 2025 academic year. And with increasing costs of studying overseas, potential students in Africa will increasingly choose to study at home and South Africa will become an even more desirable study destination. Neither do we see a shrinking college-aged population. Africa has one of the youngest populations in the world. We need to find ways to turn this to our advantage. A colleague from Japan recently told of how his university offers discounts to senior citizens to return to university. This is clever, given that Japan has one of the world's fastest growing ageing populations. South African universities can learn from this. A young population presents significant opportunities, but it also comes with big challenges. Unemployment remains a major concern, as millions of young people enter the labour market each year with limited prospects. At the same time, critical gaps in infrastructure, healthcare systems and climate resilience must be addressed to keep pace with Africa's rapidly expanding population. To equip this generation for the future of work, substantial investment in education and skills development is Universities can be agile, flexible and, importantly, innovative . If we centre innovation and job creation we can facilitate and accommodate a fuller swathe of degree and course offerings tailored to real needs and demands of a job market in need of a reset. Stackable degrees and micro credentialing — that is, short, focused certifications that validate specific skills or competencies — open a multitude of opportunities for upskilling and reskilling, as well as skills development tailored to specific needs. These are offerings designed to be completed in weeks or months and, as such, offer a quicker and more accessible alternative to traditional degree programmes. Micro credentials are especially useful in fast-changing industries, helping people stay current, boost their careers and show a commitment to continuous learning. Imagine, for example, if institutions of higher learning can be given substantial tax or other benefits for offering courses at a reduced cost to small and medium seized business owners. We could create a whole new eco-system of students who study while being economically active. This would also be a way to compete with newer alternative education pathways. Such arrangements will also ensure higher education and universities play a role in entrepreneurship and in creating startup ecosystems. But universities do more than provide degrees and certifications. An essential part of their function and mission, regardless of whether we teach online or in classrooms, is to act as meeting points and melting pots of people and ideas. The Japanese example cited earlier is an example. In addition, the notion of universities as anchor institutions has gained considerable traction in recent years. Ideas of universities as ivory towers removed from their communities is increasingly being overtaken by a focus on community engagement and societal includes how the institution contributes to economic transformation, infrastructural development and sociocultural transformation in their own locale and also nationally, regionally and continentally in the South African and African context. Reinventing higher education presents a major opportunity with far-reaching effect, but it requires strong collaboration between the public and private sectors. To stay relevant in a rapidly changing world, universities must become agile, outward-facing institutions. Through strategic partnerships, they can align academic programmes with industry needs by co-designing curricula, offering micro credentials and embedding real-world experiences such as internships and apprenticeships. Beyond teaching, joint research and innovation hubs allow universities to tackle pressing issues such as climate change, healthcare and artificial intelligence. Collaboration in shared infrastructure and open data further supports smart campuses and solutions in areas such as public health and urban planning. Ultimately, these partnerships position universities as key drivers of innovation, development and leadership in a rapidly evolving world. This should be the mission for South African and African universities. Ylva Rodny-Gumede is the head of the Division for Global Engagement and a professor in the School of Communication at the University of Johannesburg.
Wall Street Journal
27-05-2025
- Business
- Wall Street Journal
General Mills Expects $130 Million in Charges from Transformation Initiative
General Mills GIS 1.41%increase; green up pointing triangle approved what it called a multi-year global transformation initiative that will aim to increase productivity by enhancing end-to-end business processes. The maker of Lucky Charms and Bisquick pancake mix said Tuesday that targeted organizational actions will enable the transformation, though it didn't specify what actions would be taken.
Asharq Al-Awsat
21-05-2025
- Business
- Asharq Al-Awsat
QEF Explores Gulf States' Impact in Coming Decade
Qatar's Prime Minister and Minister of Foreign Affairs, Sheikh Mohammed bin Abdulrahman Al Thani, has said US President Donald Trump's recent visit to the Gulf represents a strategic opportunity for the region. He stressed on Tuesday that the relationship between Doha and Washington remains both 'fundamental and strong.' 'The gift of a plane to President Trump reflects the depth of our bilateral ties,' he added. His comments were made during the opening session of the fourth edition of the Qatar Economic Forum, held in collaboration with Bloomberg. The high-profile event, which runs from May 20 to 22, brought together world leaders, business executives, academics, and entrepreneurs for wide-ranging discussions on the global economy. This year's forum is held under the theme 'A Road to 2030: The Global Economic Transformation,' focusing on major shifts in the global economic landscape and the Gulf region's role in shaping the decade ahead. Addressing energy market dynamics, Qatari Minister of Energy Saad Al-Kaabi cautioned that oil prices falling below $60 per barrel could significantly reduce investment and strain electricity supply. He noted that the LNG sector's planned expansion requires prices to hover between $70 and $80 per barrel to remain viable. Oil is currently trading at around $65 per barrel, recovering from recent lows triggered by US-imposed tariffs on several countries. Temporary suspension of those tariffs and emerging hopes for a resolution to the Russia-Ukraine war have helped stabilize prices, Al-Kaabi said. He acknowledged that the uncertainty stemming from those tariffs had caused notable concern in the energy sector. On the issue of global gas supply, Al-Kaabi dismissed fears of oversupply, asserting that Qatar, one of the world's leading LNG exporters, remains unconcerned. 'Chinese and Indian buyers are in ongoing discussions to secure additional volumes from Qatar,' he said. Al-Kaabi also announced that LNG exports from the North Field East project are expected to begin by mid-2026. Addressing potential competition with US gas exports, he remarked that American LNG, now the world's largest, would primarily target Europe and South America, posing little challenge to Qatar's dominance in Asia. Meanwhile, Qatar Central Bank Governor Sheikh Bandar bin Mohammed Al Thani said that the direct impact of US tariffs on Qatar is 'minimal,' noting that less than 2 percent of Qatari exports are bound for the US. However, he cautioned that declining global energy prices could weigh on the country's financial budget and current account balance. In a related development, Qatar Investment Authority (QIA) CEO Mohammed Al-Sowaidi revealed plans to at least double the fund's annual US investments over the next decade. This builds on QIA's earlier pledge to invest $500 billion into the US economy over the same period. Al-Sowaidi also confirmed that QIA had recently redeployed investments into Elon Musk's company, in 2025. He stressed the importance of bolstering US manufacturing capacity and highlighted the shifting trade dynamics between China and the US as an opening for strategic investment in American supply chains. The forum follows Trump's recent visit to Doha, part of a broader Gulf tour, during which the US and Qatar signed joint agreements. According to the White House, the deals are expected to generate an economic exchange worth at least $1.2 trillion. Qatar's Finance Minister Ali bin Ahmed Al-Kuwari also took the stage, announcing Doha's keen interest in investment opportunities in Syria. His remarks came after the US, with Saudi support, lifted all economic sanctions on Syria, a move soon mirrored by the European Union. Al-Kuwari reaffirmed Qatar's long-term confidence in Egypt as well, calling it a 'promising investment destination.' Last month, during Egyptian President Abdel Fattah El-Sisi's visit to Doha, Qatar committed to injecting more than $7 billion into the Egyptian market.
