The University of Mauritius (UoM) is reportedly in a deepening financial mess: Figures from its latest annual report for the fiscal year 2022 reportedly indicate a loss of Rs 149.58 million.
This represents a significant increase compared to the loss of Rs27.2 million in 2021.
The loss is primarily attributed to the increase in personnel costs due to the salary increases recommended by the Pay Research Bureau (PRB).
According to local media, the UoM annual report also mentioned a shortfall of Rs 7.56 million, which should have reportedly been disbursed to the university by the National Savings Fund (NSF), but was not.
The University’s management said it is confident that it will eventually overcome this financial challenge, especially with the institution’s recent inclusion in the Times of Higher Education magazine’s Top 1,500 rankings.