There are different ways to define the University of Cape Town (UCT).

The past year has been a pivotal period of transition for the University of Cape Town (UCT), marked by challenges and changes – but also by resilience, collaboration and a renewed sense of direction. In facing uncertainty together, we reaffirmed what it means to lead with purpose and to steer the institution forward with integrity and vision.

The Department of Student Affairs (DSA) remains committed to working towards Vision 2035, a future in which all University of Cape Town (UCT) students, regardless of background, social or economic status, are supported to not only persist, but to flourish. The DSA’s Vision 2035 is directly in line with UCT’s vision 2030 whose three pillars are excellence, transformation and sustainability.

In 2024, South Africa’s economy showed modest recovery with gross domestic product (GDP) growth at 1.2% and inflation easing to 2.8%, though challenges like high unemployment and fiscal constraints persisted. The higher education sector faced funding pressures, with government allocations to NSFAS and universities reduced, prompting institutions to seek alternative income streams and focus on skills development. The University of Cape Town (UCT) responded proactively, reducing Council Controlled General Operating budget. In this report I provide an overview of UCT’s financial position, performance and cash flow for the year ended 31 December 2024.