Market Update: We break down the business implications, market impact, and expert insights related to Market Update: Can matrics help turn the economy around? – Full Analysis.
South Africa could see fresh, resilient talent coming into the business world, given the recent matric results, which hit a record 88%.
The Class of 2025 – battle-hardened by COVID-19 chaos – delivered solid passes in key business subjects.
The fact that more than 300,000 of the 900,000 learners who wrote matric gained passes in key business subjects bodes well for them to contribute to economic growth, especially in an environment where youth unemployment is stubbornly high.
However, for the promise to be made a reality, students not only need to get into critical degrees such as BCom but also complete them.
Diving into the Department of Basic Education’s Schools Subject Report, the spotlight shines on Accounting, Business Studies, and Economics. Nationally, Accounting saw 100,485 students tackle the exam, nailing a 77.9% pass rate (at 30% and above).
While a minor slip from 2024’s 81.2%, this is a solid leap from 2021’s 74.7%. That’s about 78,326 new potential accountants, with enrolment holding steady at around 100,000 yearly.
Business Studies saw 244,284 writers achieving an 88.4% pass rate – well up from 80.5% in 2021 and churning out 215,915 qualifiers.
Economics wasn’t far behind, climbing to 80.8% from a 2021 low of 67.9%, with 122,191 candidates yielding 98,770 passers.
Provincially, Gauteng scored with Accounting passes at 78.8% from 19,987 students, Business Studies at 88.9% from 56,954 learners, and Economics at 76.8% from 24,910 learners.
KwaZulu-Natal boasted 76.2% in Accounting, 89.4% in Business Studies, and 85.7% in Economics – leading the pack in a national 88% overall pass rate.
In total, that’s around 314,000 fresh qualifiers from these subjects alone, all of whom have the potential to help boost economic growth in an environment where gross domestic product is growing, and the rand strengthened 13% last year.
However, not all these students will be able to study business degrees, such as a BCom.
South Africa’s 26 public universities only have 202,000 first-year places. In addition, around half of all those who enter university drop out after the first year.
While only 46% of students passed with a bachelor pass, technically qualifying them to enter university, the absolute numbers increased to 345,000 candidates.
South Africa also needs economic growth of at least 3% for meaningful job creation.
IOL BUSINESS