Why tertiary education still matters in a changing economy

In an economy shaped by high unemployment, technological disruption and rapidly changing skills requirements, tertiary education must offer more than a certificate. It must equip people to adapt, solve problems, continue learning and turn opportunities into meaningful economic participation.

This is the view of Duncan Park, Registrar at MANCOSA, who says the value of tertiary education is evolving alongside the world of work.

“Tertiary education cannot guarantee employment or entrepreneurial success. What it can do is significantly strengthen the foundations from which people pursue those outcomes,” says Park.

Education remains an economic enabler

South Africa’s unemployment crisis inevitably shapes the debate about whether tertiary education is still worth pursuing. Park says it is therefore important to distinguish between a guarantee and an enabling factor.

A qualification does not automatically lead to a job, just as completing a business programme does not guarantee success as an entrepreneur. However, post-school education can improve a person’s employment prospects and expand the opportunities available to them.

This matters in an economy in which jobs are intensely contested. Tertiary education should therefore be understood not as a promise of success, but as a means of helping people develop the knowledge, capabilities and confidence to pursue it.

Knowledge alone is no longer enough

The expectations placed on graduates have also changed. Universities and colleges once held a considerable advantage as repositories of specialised knowledge. The internet has transformed that relationship, making information that previously required access to an institution, lecturer or specialist library available within seconds.

“Knowledge has been democratised. That does not make academic knowledge unimportant, but it does change what tertiary education needs to offer,” says Park.

Employers and entrepreneurs increasingly require qualities that cannot simply be retrieved through an online search. Adaptability, resilience, emotional intelligence, critical thinking and problem-solving are essential in a working environment characterised by constant change.

Completing a qualification can help students develop and demonstrate these attributes. The process requires discipline, commitment and the ability to work through challenges over an extended period.

For Park, these qualities are becoming part of the real currency of tertiary education.

Lifelong learning becomes essential

The idea that people can complete their education, enter a profession and rely on the same body of knowledge throughout their careers is increasingly unrealistic.

Technology, regulations and industries continue to evolve. New platforms emerge, while established jobs and business models are disrupted.

“The pace of change means individuals have to keep their knowledge current. If people stop learning, there is a genuine risk that the world of work simply moves beyond what they know,” says Park.

He adds that tertiary institutions must equip graduates to take responsibility for their continued development.

“Given the pace of change in the world, tertiary education providers need to be sure that students have the skills and attributes as graduates to continue learning, developing and growing as they navigate their work and life.”

Lifelong learning does not necessarily mean repeatedly enrolling for multi-year qualifications. Degrees and diplomas remain important, but short courses and targeted upskilling programmes can help professionals and entrepreneurs acquire specific capabilities without stepping away from their responsibilities for long periods.

The goal should be continuous development, rather than treating education as something that ends at graduation.

Stronger industry links support work readiness

Tertiary institutions also have responsibilities in this transition. Park says they cannot operate as isolated academic environments and still expect graduates to move seamlessly into the workplace.

Curricula must remain relevant, which requires ongoing engagement with employers, industries and communities. Industry relationships help institutions understand what organisations expect from graduates, while community engagement highlights emerging economic and skills needs.

This approach is central to MANCOSA’s emphasis on employability. Its Career Centre supports students beyond the formal curriculum through CV development, interview preparation and connections to potential career opportunities.

Alumni networks can provide another valuable bridge. Graduates working in different industries understand both the qualification and workplace expectations, enabling them to help connect students, institutions and employers.

“There is no responsible institution that should promise somebody a job simply because they enrolled for a qualification,” says Park. “The responsibility is to make graduates more capable, more employable and better connected to opportunities.”

Entrepreneurs need more than technical ability

The same principle applies to entrepreneurship. Technical expertise may provide the foundation for a business, but being excellent at a trade does not necessarily equip someone to run an enterprise.

A skilled mechanic, for example, may understand vehicles exceptionally well while still needing knowledge of taxation, payroll, labour obligations, administration, finance and employee management.

Business education can help close this gap. Qualifications in business administration and targeted learning programmes can help entrepreneurs understand the functions required to turn a valuable skill into a sustainable organisation.

Park cautions, however, against treating high-profile entrepreneurs who left university and went on to achieve exceptional success as universal examples. Such stories can obscure the uncertainty of entrepreneurship and the repeated failures many founders experience before finding an idea, market or business model that works.

Education cannot remove this uncertainty, but it can strengthen the perspective, adaptability and resilience entrepreneurs need to navigate it.

Tertiary education must widen the door

One of the most important measures of tertiary education’s value is the extent to which it enables more people to progress.

MANCOSA continues to see demand for undergraduate programmes, including higher certificates that provide skills-based learning and pathways to further qualifications. These routes are particularly important for students whose school results do not give them direct entry into degree programmes.

Park believes tertiary education should not exist only to select people who have already demonstrated exceptional academic performance.

“The real value of tertiary education is also about finding people who are not currently exceptional and giving them the opportunity to become exceptional,” he says.

School results do not occur in isolation. Many young South Africans face difficult home circumstances and wider social pressures that affect their academic performance. A disappointing matric result should not automatically define a person’s long-term academic or professional potential.

Alternative entry routes can give these students another opportunity to demonstrate what they can achieve.

A qualification should be the beginning

For MANCOSA, the future of tertiary education lies in moving beyond a narrow definition of academic success.

Institutions must continue to provide credible disciplinary knowledge, while developing graduates who can think independently, communicate effectively, respond to uncertainty and keep learning long after completing their studies.

This requires relevant curricula, meaningful relationships with industry and communities, and employability support alongside academic development. It also means recognising that students enter tertiary education at different stages of their lives: some directly from school, others as professionals seeking advancement, and still others as entrepreneurs needing new capabilities as their businesses grow.

The common thread is opportunity. Tertiary education cannot control economic conditions, guarantee employment or eliminate the risks of entrepreneurship. It can, however, equip people to navigate these realities with stronger skills, broader perspectives and greater resilience.

“In a world where knowledge and industries are constantly changing, education has to be about more than what somebody knows on graduation day,” concludes Park. “Its lasting value is in developing people who have the capacity to keep learning, adapting and creating opportunities throughout their lives.”