The choice of Stellenbosch in South Africa as an example is perhaps not ideal. While SA may be a third world country in parts, it is very "first-world" in others and has a GDP greater than Denmark, Finland, Singapore and Ireland. Stellenbosch is also one of the countries premier Universities. I am not sure we'd be as surprised if Universities from those countries were chosen as an example.
I'm sure it's more of a case of Elsevier charging whatever it could to each university.
> has a GDP greater than Denmark, Finland, Singapore and Ireland.
That says absolutely nothing. You'd need to look at it on a GDP per person basis. There all those countries you listed are far ahead of South Africa, in some cases by a factor of 10x.
I'm sure it's more of a case of Elsevier charging whatever it could to each university.