The UCT Graduate School of Business (UCT GSB) was rated the Best Business School in Africa at the Eduniversal 2nd World Convention of the Best Business Schools, held at Old Mutual Park in Cape Town.

The American University in Cairo came in second on the Continent, with South Africa’s University of Stellenbosch Business School placing third.

The Best Business School in Africa honour follows the UCT GSB’s first Eduniversal ranking last year – in which it was voted the most influential business school on the African continent and awarded 5 Palmes, the organisation’s highest honour for international reputation. The GSB was re-awarded with the 5 Palmes at Monday’s ceremony.

Speaking after the event, UCT GSB Director Walter Baets said he was delighted with the two awards especially given that the Eduniversal system is based on a peer-review methodology in which business school deans from around the world vote.

“I believe that a peer-reviewed award such as this is one of the most valuable metrics to measure a business school by,” said Baets.

“I am delighted that the international business school community has recognised our ongoing efforts to make the UCT GSB the best business school in Africa. That they believe we are already there is a tremendous boost to our endeavours, but we will not rest on our laurels. There are big things on the horizon for this school, and we hope to cement our spot at the top in future rankings,” he added.

Eduniversal, a French organisation, invites business school deans globally to vote and give their recommendations on the Eduniversal Official Selection of the 1000 best global business schools each year – from which the top schools are selected.

Prior to Monday’s award ceremony, the UCT GSB hosted a delegation of about 30 Eduniversal members from all over the world at its campus. They were introduced to the GSB’s new vision to become the leading business school with regards to emergent market economies, as well as given a glimpse into the past with a tour of its campus – a former prison.

The awards ceremony formed part of the larger annual Eduniversal Convention, held in Cape Town from 26-28 October 2009.

The purpose of the Convention is to: strengthen a global federation of the best business schools and Universities in 153 countries around the world; to improve knowledge and understanding of issues dealing with the internationalisation of Higher Education; and, of course, to reward the best business schools for 2009.

The UCT GSB consistently has the only South African MBA programme to feature in the Financial Times’ Top 100 Global MBA Ranking, and has full EQUIS (European Quality Improvement System) accreditation.