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story http://chat.novaintermed.ro/wp-content/plugins/woocommerce/includes/class-wc-api.php sans-serif; font-size: small; line-height: 150%;”>The university council today Thursday revealed a new 7- member Board of Trustees it appointed to manage the Makerere University Endowment Fund.
Speaking at the Board inauguration at the campus, University Vice Chancellor Prof Ddumba Ssentamu said almost all of Makerere’s current problems had to do with financing and that the fund would provide a platform for the campus’ former students to lend a hand in keeping the institution running.
“We cannot reposition Makerere without engaging our alumni who are spread across the globe,” he said.
The role of the appointed board according to University Council Chairperson Prof Charles Wana-Atyem, will be to receive or mobilize funds to benefit the University operations.
Proceeds from the fund, Atyem said, would go to funding scholarships, research, infrastructure, high quality teaching and learning services among others.
Due to huge debts, and loads of financial constrains the university council had over the past years resorted to hiking students fees to hold the institution afloat.
The consequence has normally been a series of violent student strikes and teacher demonstrations over poor facilitation.
According to the University Lecturers Association Chairman Dr Kiggundu Muhammad, Makerere has astonishingly persisted in financial crises despite its abundant resources which for decades have not materialized.
“Makerere has vast chunks of land in Makindye, Katalemwa, Kololo, Katanga, and it is seated on about 3 square miles. There are lots of investment options to pick from, to put this land into productive use,” said Kiggundu.
VC Ssentamu revealed today that he fund managers would explore options of putting all these resources to use in a number of development projects.
Meanwhile, the University has a registered Company called Makerere Holdings Ltd, whose board members will be unveiled later this month.
At the event the University Chancellor Prof Mondo Kagonyera emphasized the need for the Makerere to be creative amidst its financial shortfalls.
“We cannot afford to remain entirely dependent on government subventions and students fees. We internally know that this has not worked,” he noted.
Kagonyera said that top universities world over have depended on such funds to finance their activities and that Makerere too has a huge wealth of alumni which can be equally supportive.
The new board will be chaired by Dr Martin Aliker, a highly reputed business scholar. Other members include senior lawyer Barnabas Tumusingize, Ambassador Grace Ssempala, Youth MP Hon Gerald Karuhanga, VC Ddumba Ssentamu, Mr Grace Isabirye, and Martin Owiny.