Dated: June 9, 2020
The UWI-Arthur Lok Jack Global School of Business (UWI-ALJGSB) wishes to assure past, present and prospective students that the institution is extremely strong financially, with a low debt to asset ratio. The School is however experiencing an operating cash flow challenge resulting from the reduction in revenue due to COVID-19 and more importantly the significant outstanding receivables of $20 Million owed to the School, consisting of GATE receivables of $14 Million and VAT refunds of $6 Million.
Notwithstanding these challenges, and in the interest of stability and progress, the key benefactor and other donors will continue to support the School now and in the future. Restructuring plans for the School, which are now in progress, take into consideration: requirements of the new normal post-COVID-19, reformatting of programmes where necessary, organisational structure and ongoing training to continue delivering extraordinary learning experiences and outcomes. Once approved by the Board, these plans will be implemented before the end of the current academic year (August 2020).
Staff, students and alumni can continue to be assured that there is no reason to be concerned about the current or future operations of the School.
UWI-Arthur Lok Jack Global School of Business