Challenges Faced by Multi-Campus Institutions with Online Teaching during the COVID-19 Lockdown

In December 2019, the COVID-19 virus was first detected in Wuhan, Hebei Province, China. On 11 March 2020, the World Health Organisation declared the COVID-19 virus a world pandemic. Even though the physical closure of tertiary institutions had proven to be an effective strategy in breaking the transmission chain in the pandemic, the closure still had various negative effects on students' academic endeavours. In an attempt to keep the disruption of studies to a minimum, higher education institutions across the world implemented online learning programmes by converting face-to-face programmes, thereby creating various challenges for students and lecturers on different levels. The purpose of this article was to determine how challenges faced by multi-campus universities in South Africa during this time would compare to challenges faced by other countries. This study focused on two specific multi-campus universities in South Africa with similar student bodies that offered various accounting courses on different campuses. These courses ranged from diplomas to CTA degrees.

Special purpose acquisition companies as a vehicle for providing venture capital to small and medium size enterprise

Orientation: The South African economy is currently at one of its lowest points in several decades, with low economic growth, coronavirus challenges and unemployment being at an all-time high. This is further aggravated by the many challenges the economy faces, such as the lack of public sector programs to stimulate sustainable growth and a private sector mind-set that lacks business confidence and investment. Motivation of study: A SPAC is an innovative financial structure that aims to raise funds in capital markets with the purpose of acquiring an unknown exiting company, using the funds as finance, within a limited time period. Special purpose SPACs focusing on SMEs with additional criteria and incentives might prove to be a valuable vehicle that provides funding to stimulate economic growth, kick start the second economy and erode unemployment in South Africa. Research purpose: The objective of this article was to provide an overview of a special purpose acquisition company (SPAC) as a vehicle to fund future business operations and, further, to explore the opportunities that it may provide to the South African economy to stimulate growth in the second economy and small and medium-sized enterprise (SME) sector. Research approach/ design and method: This article follows a qualitative research design with an exploratory approach. Findings and contribution: Research on SPACs internationally and in South Africa is scarce and this article makes a significant contribution to the existing body of knowledge. The findings indicate that the financial measures show underperformance of SPACs relative to some traditional financial measures. Practical implications: Non-financial considerations are important in considering the value that SPACs can bring to the ailing South African economy. Special purpose acquisition companies also provide opportunities to those informal sectors, which would never be able to get access to funding and formal markets in other ways.