MUBAS alumni establish endowment fund to support needy students
The Malawi University of Business and Applied Sciences (MUBAS) Alumni Association has reached a significant agreement with university officials to create an endowment fund aimed at supporting financially challenged students. This initiative was discussed during the recent Alumni Interactive Day.
Wisely Phiri, President of the MUBAS Alumni Association, highlighted the urgency of the initiative, noting that some students had previously faced withdrawal due to unpaid tuition fees. “We needed to understand the situation at the university. To sustainably support needy students, establishing an endowment fund is essential. Without this dialogue, we would have been working in silos,” he explained.
Phiri emphasized that no student should be left behind, linking the initiative to Malawi’s Vision 2063, which aims for national self-sufficiency. “We can’t achieve self-sustainability if students are withdrawn for financial reasons,” he added. Phiri is also the Managing Director of Sparc Systems Limited.
Clarence Gama, a MUBAS alumnus and CEO of NICO Technologies Limited, echoed the importance of empowering research at universities, particularly in light of evolving technology. “But research alone is not enough; we must create opportunities for students to develop practical solutions for Malawians,” he noted.
MUBAS Deputy Vice Chancellor, Professor Ishmael Kosamu, affirmed the university’s commitment to supporting vulnerable students. “We are actively working on the endowment fund and other initiatives to help those in need. Given the low economic status at the family level, it’s crucial to support young people in pursuing higher education,” he stated.
The establishment of the endowment fund is expected to generate resources from alumni, private sector organizations, and other well-wishers, marking a significant step towards ensuring access to education for all students at MUBAS, which was formerly known as The Polytechnic and is now an independent university.
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