Most university funds now come from local donorsBusiness Day.
Universities benefited from philanthropic efforts amounting to ZAR1.63 billion (US$136 million) in 2016‚ an increase of nearly ZAR1 billion over the last four years. But as much as 90% of that funding went to traditional higher education institutions as opposed to universities of technology‚ for example. The bulk of the financial contributions comes from local trusts‚ foundations‚ corporations and individuals.
Twelve of South Africa’s 26 universities participated in the latest survey‚ which is based on 2016 figures. South Africans accounted for 90% of all donors and contributed 56% of the total funding. International donors contributed 44% of the philanthropic income but comprised only 10% of all donors.
Full report on the Business Live site.