Malawi's education authorities have praised the University of Business and Applied Sciences for establishing an endowment mechanism that officials expect will transform institutional financing and broaden tertiary enrollment opportunities. Minister Bright Msaka characterized the initiative as forward-thinking during a fundraising golf event in Blantyre, noting its alignment with national ambitions to achieve upper-middle-income economic status by 2063.
Vice-Chancellor Nancy Chitera stated the fund will assist students facing financial hardship while supplementing government lending programs. The institution plans annual contributions of 200 million kwacha, aiming to accumulate 5 billion kwacha within three years, with current reserves reaching 800 million kwacha.
Msaka encouraged stakeholders to view their support as an investment in human capital development.
Vice-Chancellor Nancy Chitera stated the fund will assist students facing financial hardship while supplementing government lending programs. The institution plans annual contributions of 200 million kwacha, aiming to accumulate 5 billion kwacha within three years, with current reserves reaching 800 million kwacha.
Msaka encouraged stakeholders to view their support as an investment in human capital development.
