The assessment of financial risks of Open Distance e-Learning (ODeL) universities : empirical evidence from the University of South Africa

Abstract

Background In South Africa, universities encounter a diverse range of financial risks that can affect their stability and long-term sustainability. These risks stem from internal factors, such as operational inefficiencies, and external factors, including economic fluctuations and policy developments. Effective identification and management of these risks is vital for ensuring the continued success of higher education institutions. Problem statement Despite the growing importance of financial risk management in higher education, there is limited understanding of how open-distance e-learning (ODeL) institutions, such as the University of South Africa (Unisa), experience and address these risks. In particular, there is a lack of clarity regarding the types of financial risks these institutions face and the extent to which their staff are equipped to manage them. Objectives The current study aimed to identify the types of financial risks faced by an open-distance e-learning university. It also aimed to assess the risk mitigation techniques currently employed. Finally, the study aimed to determine the training needs of staff responsible for managing financial risk. Methodology Using the University of South Africa (Unisa) as a case study, a quantitative research design using exploratory factor analysis Cross-sectional data were collected using a self-administered questionnaire distributed to 140 respondents within Unisa. The cross-sectional data provided insights into risk exposure and management practices. Results The results show that the Unisa is mostly exposed to credit and operational risks. Exposure to liquidity and market risks was observed to be low. Furthermore, the results show that there is a notable gap in staff training in risk management interventions in areas such as credit and operational risk management. Staff also demonstrated limited understanding of liquidity and market risk, indicating a broader issue in risk awareness and preparedness. Conclusion The study concludes that the concept of financial risk management in ODeL institutions is still in its infancy. Notably, liquidity and market risk are still unclear to staff in the department responsible for financial risk management, posing a threat to effective financial governance. Policy implications The study recommends the implementation of robust internal control systems, regular auditing and investing in reliable technological infrastructure to manage financial risks more effectively. Additionally, it suggests appointing a dedicated risk officer and developing a comprehensive financial risk management guide to inform institutional decision-making and improve risk response strategies.

Lingemuva ENingizimu Afrika, emanyuvesi ahlangabetana nebungoti betetimali lobehlukahlukene lobungatsintsa kusimama kwawo kanye nekugcinwa kwawo kwesikhatsi lesidze. Lobungoti buvela etintfweni tangekhatsi, letifana nekungasebenti kahle kwekusebenta, kanye netintfo tangephandle, letifaka ekhatsi kugucugucuka kwemnotfo kanye nekutfutfukiswa kwenchubomgomo. Kukhonjwa nekulawulwa kwalobungoti ngemphumelelo kubaluleke kakhulu ekucinisekiseni kutsi tikhungo temfundvo lephakeme tiyachubeka nekuphumelela. Sitatimende senkinga Nanobe kubaluleka lokukhulako kwekulawula bungoti betetimali emfundvweni lephakeme, kunekuvisisa lokunemkhawulo kwekutsi tikhungo tekufundzela usekudzeni kanye nekufundzela nge-inthanethi (i-ODeL) letivulekile, njenge Nyuvesi yaseNingizimu Afrika (i-Unisa), tihlangabetana njani nalobungoti futsi tilungisa njani. Ikakhulukati, kunekungacaci mayelana netinhlobo tebungoti betetimali letikhungo letibukene nato kanye nekutsi tisebenti tato tihlomele kangakanani kutilawula. Tinhloso Lolucwaningo lwanyalo luhlose kutfola tinhlobo tebungoti betetimali letibukene nenyuvesi ye-ODeL. Kwaphindze futsi kwahloswa kuhlola tindlela tekunciphisa bungoti letisetjentiswako nyalo. Ekugcineni, lolucwaningo beluhlose kutfola tidzingo tekuceceshwa kwetisebenti letinesibopho sekulawula bungoti betimali. Indlela yekusebenta Kusetjentiswa i-Unisa njengesifundvo sendzaba, kwamukelwa umklamo welucwaningo lwesilinganiso losebentisa kuhlatiya emaphuzu ekuhlola. Idatha yetigaba letihlangene yabutfwa kusetjentiswa liphepha lemibuto leliphatfwako lelasakatwa kulabaphendvulile labangu-140 ngaphakatsi e-Unisa. Idatha yetigaba letihlangene inikete lwati ngekuchayeka ebungotini kanye netindlela tekulawula. Imiphumela Imiphumela ikhombisa kutsi i-Unisa ichayeke kakhulu ebungotini besikweleti kanye nekusebenta. Kuchayeka ebungoti bemali kanye nemakethe kwabonakala kuphansi. Ngetulu kwaloko, imiphumela ikhombisa kutsi kunesikhala lesibonakalako ekuceceshweni kwetisebenti ekungeneleleni kwekulawula bungoti etindzaweni letifana nekulawula bungoti besikweleti kanye nekusebenta. Tisebenti tiphindze futsi takhombisa kuvisisa lokunemkhawulo kwekukhishwa kwemali kanye nebungoti bemakethe, lokukhombisa ludzaba lolubanti ekucapheleni bungoti kanye nekulungela. Siphetfo Lolucwaningo luphetsa ngekutsi umcondvo wekulawula bungoti betetimali etikhungweni te-ODeL solo awukatfutfukiswa. Kuyaphawuleka kutsi, kukhishwa kwemali kanye nebungoti bemakethe solo akukacaci kubasebenti belitiko lelibukene nekulawula bungoti betetimali, lokubeka lusongo ekuphatfweni kwetimali lokuphumelelako. Imiphumela yenchubomgomo Lolucwaningo luncoma kucala kusebenta kwetinhlelo tekulawula tangekhatsi leticinile, kucwaninga njalo kanye nekutjala imali kusakhiwonchanti setebucwepheshe lesetsembekile kute kulawulwe bungoti betetimali ngemphumelelo. Ngetulu kwaloko, kuphakamisa kukhetsa sikhulu lesitinikele sebungoti kanye nekutfutfukiswa kwemhlahlandlela lophelele wekulawula bungoti betetimali kute kwatiswe kwenta tincumo tesikhungo kanye nekutfutfukisa emasu ekubukana nebungoti.

Matsalwa yale ndzaku/Matimu Etikweni ra Afrika Dzonga tiyunivhesiti ti hlangana na makhombo yo hambana hambana eka swa timali leswi swinga ha vaka na nxungweto ekamatirhelo na vumundzuku bya tona.. Makhombo lawa yangaha suka eka mintlimbo yale ndzeni, leyi fana ka na mafambiselo, na mintlimbo yale handle,ku katsa na ku tsekatseka ka ikhonomi hambi kuri ku tumbuluxiwa ka milawu ya mafambiselo.Ku longoloxiwa hivurhonwana ka makhombo lawa naku ya lawula swinga pfuna ku endla leswaku swiyenge swa tidzondzo tale hehla swi humelala eka migingiriko ya swona. Nhlamuselo ya xiphiqo Hambi leswi ku nga na ku ndlandlamuka ka xilaveko xaku lawuka makhombo ya swatimali eka xiyenge xa tidzondzo tale henhla, kahari na ku kayivela ka ntwisiso wa ndlela leyi ti Yunivhesisi leti nyikaka vukorhokeri bya dyondzo yale kule na thekinoloji tani hi Yunivhesiti ya Afrika Dzonga ti hlanganaka na makhombo no thlela ti ringeta kuya lulamisa. Hiku kongoma , ka hari na ku kayivela mayela na tinxakanxaka ta makhombo ya swatimali lawa swiyenge leswi swi langutaneke na wona na ndlela leyi vatirhi eka swiyenge leswi va faneleke ku leteriwa hi tindlela taku lwisana na makhombo lawa. Swikongomelo Vulavisisi lebya haku endliwaka abyi ngongoma eka ku ku fikelela ku kumisisa tinxaka ta makhombo lawa ya langutana na tiyunivhesiti leti nyikaka vukorhokeri bya dyondzo yale kule na thekinoloji. Byi thlela byi xopaxopa tindlela leti tirhisiwaka eka nkarhi wa sweswi ku papalata makhombo lawa.Xo hetelela vulavisisi abyi lava ku kumisisa leswaku hi byihi vuleteri leswi vatirhi lava tirhanaka na ku lawula makhombo ya swa timali vabyi lavaka . Maendlelo ya vulavisisi Ku tirhisiwe ndzavisiso wa Yunivhesiti ya Afrika Dzonga bya maendlelo ya ku tirhisa ndzavisiso wa tinhlayonhlayo . Vuxokoxoko byi kumiwe hiku tirhisa mpfampfarhuto wa swivutiso lowu tumbuluxiweke hi mulavisisi ,lowu nga nyikiwa eka vanhu va dzana na makume mune ku suka e UNISA Vuxokoxoko lebyi kumiweke ku suka eka swivutiso abyi paluxa hi makhombo na malawulelo ya wona ku suka eka lava tekeke xiave eka vulavisisi. Mbuyelo Mbuyelo wu komba leswaku UNISA yi langutane na makhombo ya mali leyi nga kona na swona makhombo ya xibundzu la langutela yari enhansi swinene.Hi hala thlelo kuna vangwa kumbe ku kayivela ekaku leteriwa ka vatirhi eka xiyenge xa malawuleyo ya swikweleti na makhombo ya mafambiselo.s. Vatirhi va kombise kuva na nkayivelo lowu kulu wa vutivi eka xiyenge xa makhombo eka swa timali, nankayivelo wa vutivi eka swa makhomboya mabindzu, leswi swinga na nxungweto lowu kulu eka vutivi bya makhombo hiku angarhela hambi kuri ku lulamela ka vona kuya emahweni. Mahetelelo Vulavisisi lebyi byi komba leswaku kahari na nkayivelo eka xiyenge xa mafambiselo ya makhombo ya swa timali eka xiyenge xa swa tidzondzo leti nyikaka dyondzo yale kule na thekinoloji. Swahari tano,mhaka ya mafambiselo ya swikweleti na bindzu kahariki nthlonthlo eka vatirhi eka dzawulo leyi lawula mafambiselo ya makhombo ya swa timali , leswi tisaka nxungweto eka mafambiselo lama nene ya swa timali. Switandzaku swa milawu ya mafamiselo Vulavisisi byi bumabumela kuva ku tirhisiwa ndlela leyi tiyeke ya malawaulelo eka ndzwawulo,swikambelo swa nkarhi na nkarhi ,na kuva ku vuvekisiwa eka switirhisiwa swa nkoka swa xitekinoji, kuri ndlela yo ringela ku lawula makhombo ya swa timal. Nthlandla kambirhi,vulavisisi byi thlela byi bumabumela ku thoriwa ka mutirhi loyi angata langutana na makhombo ya swa timali no thlela a mpfampfarhuta no tumbuluxa tsalwa leri ngata tsundzuxa ndzawulo hi swiboho leswi ngaha tekiwaka ku antswisa mandlelo yo lwisana na makhombo lawa yanga vaka kona.