The University of Nairobi (UoN) has announced a fundraising effort set for June 30, 2022, to raise sufficient funds to phase out financial loopholes created by shrinking government capitation.
In the largest philanthropic campaign, the UoN, through its non-profit organization UoN Foundation, seeks to mobilize donations from alumni and well-wishers and channel them towards student support programs to realize its goal of becoming the world’s most impactful public university that provides experiential learning opportunities.
“Private capital is expected to accord the University of Nairobi the opportunity to prioritize research and innovations and to attract talent from across the globe through scholarships,” said the UoN in a statement.
The foundation will be chaired by Dr Vijoo Rattansi, and among the board of trustees are UoN Vice-Chancellor Prof Stephen Kiama and Prof Margaret Kobia, the Cabinet Secretary in the Ministry Of Public Service, Youth And Gender Affairs.
“The trustees include Prof. Margaret Kobia, Prof. Julia Ojiambo, Dr. Agnes Odhiambo, Senior Counsel Fred Ngatia, Joe Mucheru, Dr. Narendra Raval, Mourice Makolo and Prof. Stephen Kiama (secretary),” noted the UoN.
The Prof Kiama-led institution has been on a borrowing spree to upscale its infrastructure in a bid to lure students to lavish amenities, but this has left them grappling with financial crises as the amount of debt doubled, downgrading their credit rating.
Some of the projects that have stalled due to financial constraints include the proposed School of Pharmacy and UoN Lower Kabete campus hostels as the university remains cash strapped and on a flounder to honor tax obligations, pay its employees and set aside monies in retirement and insurance schemes.