Business schools in Africa prove the continent has what it takes, with five African schools placing well in the highly competitive FT Executive Education global rankings.
Considered the de facto benchmarking tool for business schools, the annual FT Executive Education rankings released on Monday showed the world that Africa is a business education force to be reckoned with.
“Placing is no mean feat, as the FT rankings are highly selective. Only business schools with a strong international orientation and a high reputation are eligible – and very few of these are from countries outside Europe and the US,” says Director of Executive Education at the UCT GSB, Zandile Nkhata.
The UCT GSB came in 6th in the rankings for international students, and Nkhata says this is indicative of the increasing appeal of South Africa as a destination for foreign students looking to gain a fresh insight into developing economies. “The ranking also reflects that South Africa is increasingly being recognised as an education destination that offers both quality and value-for-money. South Africa offers not just international standards combined with good value for money but also something intangible: the chance to grapple with the power of business and business thinking in one of the most challenging economies in the world, to effect positive change.”
But business education as a whole in Africa is making its mark in the FT rankings: the UCT GSB, GIBS, WITS, USB and the Lagos Business School are all ranked at 65th, 42nd, 55th, 57th and 54th respectively in the Executive Education lists that were announced May 14.
“The achievements of these five business schools serve as great promotion for business education in South Africa and on the African continent as a whole. It sends a strong message to the international market that African business education is globally competitive, and given the exchange rate, they are good value for money. In fact, the UCT MBA is rated by the FT in its full-time MBA rankings as the best value for money MBA in the world.”
The Financial Times
' survey, which has been running for 13 years, presents a global benchmark for providers of executive education. The customised ranking is compiled using data from two sets of online surveys – one for schools, another for clients. Business schools are asked for details of a number of top clients, who are then invited to complete an online survey about the school that nominated them.
UCT GSB Director, Walter Baets says that the rankings are exemplary of the GSB’s goals: “We aim both to raise the profile of emerging market business schools as centres of excellence and thought leadership, and to provide local and international students with the skills they need to take on the challenges of emerging markets. Benchmarks like the FTs keep us grounded in international realities and give us credibility, but they also give us a strong base from which to innovate,” he says.