‘We are not changing our status’
Louw shared an overview of what led to the acquisition
Following a peaceful demonstration by Monash South Africa (MSA) students on 20 September, the president of the institution, Professor Alwyn Louw continuously assured students and parents that nothing will change.
Louw sat down with the Northsider journalist and the editor, Roelien Vorster in a meeting where he outlined and clarified the current climate with regard to the acquisition process of the institution.
A leading education corporate, ADvTECH was announced by MSA to be the favourites to take over the institution.
Read more here:
https://roodepoortnorthsider.co.za/281803/monash-south-africa-students-furious-over-change/
Louw shared an overview of what led to the acquisition. “After 18 years we’ve reached a stage where both Laureate and Monash said they don’t see their future in South Africa anymore; in other words they want to withdraw and therefore decided to divest,” he explained. He added that this decision was taken on a shareholder level. “Because we are not involved in shareholder decisions, the shareholders can do what they want with their shares,” Louw further explained.
Clarifying how ADvTECH got involved, Louw said that the shareholders who work with investment bankers introduced the opportunity to the market. They met with those who had shown interest and decided that ADvTECH presented an acceptable opportunity for them.
“The agreement was signed on 7 September and that was the first official information we received. On 11 September the announcement was made,” he said.
He added, however, that only the agreement has been signed up to now. The Competition Commission still needs to give its input, the Council for Higher Education (CHE) must still approve the transfer of the credible qualifications and the Department of Higher Education and Training still needs to approve and register the qualifications in the names of the new owners.
Louw also addressed the issue regarding the qualifications and credibility of the institution when it becomes an ADvTECH brand. “Monash or Laureate will not just walk away because we understand that education is something that continues, you need to create time for people. So all existing students, as well as all students who register for the first semester next year, will still register under this dispensation. They will be able to complete the same qualifications with the same curriculum up to four years, depending on the type of qualification,” Louw assured.
This gives the students on the system up until 2022 to complete their studies, depending on the qualification. “They (Monash or Laureate) will stay involved for four years after January, in the same relationship we have at the moment, to continue to support and give input, and provide quality assurance processes so that everything remains the same,” he further explained.
“As from July next year, the registration will continue with the same qualifications and curriculum, but it will happen under the umbrella of the new ownership,” Louw detailed, clearing that nothing changes in terms of the status and credibility of the institution. “We are not changing our status or the focus of the institution at all,” he clarified, rubbishing the ‘college’ idea, a rumour that has been doing the rounds after the news of the takeover broke.
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