On Thursday, 28 November the North-West University (NWU) conferred an honorary doctorate on the renowned economist Prof Raymond Parsons.

The honorary doctorate was awarded in recognition of the exceptional contribution Prof Parsons has made to the country throughout his distinguished career as an organised business leader, academic, media personality, economic commentator and author. Among his many achievements is the groundbreaking work he has done on the development and refinement of the NWU Policy Uncertainty Index, the first of its kind in South Africa.

He has also made a significant contribution to thought leadership at the NWU Business School, helping to keep the school and the university at the centre of discussions and debates about South Africa’s economic and political choices and future.

“At the outset I must convey my deepest thanks to the university Council and management for the honour of receiving an honorary doctorate from the university today. I am extremely grateful and humbled to have joined the distinguished list of previous recipients of honorary degrees from this esteemed institution. But there are many others to whom I owe my thanks and gratitude,” said Prof Parsons, before adding:

“I see this prestigious award as recognition of the important role that economics and economists play in making South Africa a better place in which to live and work, especially given the country’s well-known and formidable challenges of unemployment, poverty and inequality. Often described as the ‘queen of social sciences’, economics tries to answer the fundamental question of how best to satisfy the unlimited wants and desires of society using limited available resources.”

Prof Babs Surujlal, executive dean of the Faculty of Economic and Management Sciences said: “Renowned for his deep expertise, Prof Parsons is widely recognised as an authority on the South African economy and its implications for the business community. Professor Raymond Parsons has had a distinguished career as a leading South African economist, respected for his political independence. This impartiality has enabled him to engage critically with economic policies across various administrations, earning a reputation for balanced, objective analysis. His non-partisan approach has enriched public understanding and solidified his credibility over decades. By upholding rigorous analysis and open dialogue, Prof Parsons has achieved lasting influence as a trusted policy advisor and economic commentator, respected across sectors and political divides.”

Prof Parsons is currently a professor at the NWU Business School. He is also chairperson of the advisory board of the Business School. He studied economics at the universities of Cape Town, Oxford and Copenhagen before playing a leading role in organised business in South Africa for many years. Professor Parsons is a former director-general of the South African Chamber of Business (SACOB).

Until 2012, he was the deputy CEO of BUSA and subsequently a special policy adviser to that organisation until April 2014. He has also lectured at the Department of Economic and Management Sciences at the University of Pretoria. From 2000 to 2003, he was a visiting professor at the School of Economic and Business Sciences at the University of the Witwatersrand.

Professor Parsons was the overall business convenor at the National Economic Development and Labour Council (NEDLAC) until 2010. This is the major social dialogue institution in South Africa. He is a key contributor to public and academic debate on a broad spectrum of issues of critical importance to the political economy of South Africa. He is a recognised authority on the South African economy and its implications for the business community.

Professor Parsons was mainly responsible for the creation of South Africa’s first quarterly Policy Uncertainty Index, which was launched under the aegis of the NWU Business School in 2016.

He also holds an honorary doctorate from the Nelson Mandela University (NMU) and is an honorary professor there. He is a past president of the Economic Society of South Africa (ESSA). In 2017, ESSA conferred honorary life membership on him in recognition of his distinguished contribution to the economics profession in South Africa.

In 2004, former President Thabo Mbeki appointed Professor Parsons to the board of directors of the South African Reserve Bank, and he was reappointed in 2008. He was also a director of the South African Mint.

In August of 2024, Prof Parsons was appointed by the North West premier, Lazarus Mokgosi, to his new Economic and Investment Advisory Council to advise on economic development in North West.

He is the author/editor of eight books.

Prof Raymond Parsons.