University of Nairobi staff and students braved the chilly cold morning to gather at the Taifa Hall, Main Campus on June 20, 2022, to prepare for the launch of the University of Nairobi Foundation.
Speaking during the pre-launch ceremony, Prof. Stephen Kiama, the University of Nairobi Vice Chancellor, observed that over the years, university funding has reduced exceedingly, from 100% support from government in the 1980s and 1990s to now 30% funding.
He observed that globally, a university worth its salt has a foundation, they have endowment funds. “Harvard University has 54 Billion dollars in endowment funds. You can be admitted from start to completion and the university will pay full fees”, he said.
Prof. Kiama cautioned the University community to start looking for extra funding opportunities and to avoid depending on the Exchequer for funding. “If we depend on government and fees, we could be slashed like any other university”, he cautioned.
The Vice Chancellor observed that the University, with alumni base of 256,000 have the capacity to benefit from its social capital and the networks. Our alumni have transformed societies and the world at large.
It is expected that with the money from the Foundation or the Endowment Fund will be invested in such income generating assets like government bonds, money market and the stock market.
Prof. Kiama appealed to the University Staff to reach out to their friends and university alumni and together we can support research, innovation and funding the university.
To Register, Please, Visit the UoN Foundation Website. https://uonfoundation.uonbi.ac.ke/