Deputy President William Ruto has lauded the establishment of University of Embu endowment fund as a great milestone that should be emulated by other universities.
Speaking in Embu when he launched the University of Embu Endowment Fund, Ruto urged universities to emulate the University of Embu and raise funds through alternative sources.
“It is my desire and hope to see the Endowment Fund becomes a beacon of hope to learners aspiring to pursue higher education and one that should be emulated by other institutions” The DP said.
The Endowment Fund aims at giving bright and needy students a chance to pursue higher education and to fund the development of the institution’s infrastructure. The university needs an investment in infrastructure renewal and update in the near to medium term to deliver a safe, practical and comfortable environment for its students and staff.
To address this need, the University has set-up the endowment fund to provide permanent income earning assets, from whose income bursaries will be awarded.
Many of the students at the University hail from needy backgrounds and thus face the challenge of raising fees for their studies.
Already the university has put in place policies and guidelines to protect and grow the fund through a clear governance structure. Through the Endowment Fund, the University targets to realize about KES 100 million as it aims at establishing itself firmly as the epicenter of excellence in training and research for service to humanity; and to play its rightful role in the realization of the National development blue print.
University of Embu Vice Chancellor Prof Daniel Mugendi expressed confidence in the fund and called on well-wishers and donors to contribute to the fund and help grow the University.