Speech by University Council Chairman - Eng. Michael Kamau

 

engineersmkamau

It gives me great pleasure this evening to welcome you all to this auspicious occasion of the MUA Endowment Fund Dinner. It is indeed a milestone in the growth of the University. As the Chairman of the UGC, I am delighted to be present and celebrate with you the realization of this dream.  

 

Ladies and gentlemen,

Education sector in Kenya plays a pivotal role in the development and progress of the country.It is true that the Kenyan job market is very competitive and requires that students are equipped well with relevant skills. The Management University of Africa nurtures and shapes leaders and managers to become change agents through knowledge transfer by transforming organizations, governments and communities. Universities world over are faced by many challenges particularly inadequate resources for teaching, research and development. This is occasioned by inadequate resources that are continuously being depleted by competing priorities within and without the Universities. As a consequence, many universities, especially Ivey league Universities in the US have endowment Funds in excess of 20 billion dollars build over time. They started where we are today. MUA, therefore, is no exemption. It is with this in mind that the MUA Governing Council established the MUA Endowment Fund.  This was also in response to a call by His Excellency the President of Kenya, while presiding over a Youth ICT internship function at the University of Nairobi in March this Year, urging Universities to establish endowment funds for faster development.

Ladies and gentlemen,

 I am informed that an endowment can be defined as a portfolio of assets donated to a non-profit institution like MUA to aid in its support.  In early ages, endowments consisted of farmland donated to churches, which would earn rental income from the land’s tenant farmers. In modern times, endowment assets are held in financial instruments, which may include real estate investments too. Modern endowments can realize capital appreciation as well as current income.

 

Over the long term, an endowment can provide a financial cushion to support the institution through changing times. With this added stability comes a greater degree of independence and enhanced ability to achieve academic goals. Many institutions can achieve a competitive difference in the quality of their programs and students only because of endowment income. An excellent University is characterized by excellent students, excellent faculty and abundant resources.

 

Ladies and gentlemen,

the Management University of Africa endowment fund seeks to save the dreams of students from disadvantaged backgrounds. I am informed that 6 students are currently pursuing their dreams at the university – thanks to the endowment fund. The university believes more dreams out there need to be saved. This is why we are gathered here tonight – to save more dreams by pooling resources. Quantitative and qualitative growth in education is vital if one has to succeed in the 21st century global economy, therefore to position the university our strategic thinking as the council  is to   promote research and attract funding, develop and enhance the University Infrastructure, facilities and security, Strengthen Cultural and technological exchanges with institutions of higher learning, Expand international focus and outreach, Develop and maintain a cost effective human resource base for optimum University performance and most of all to reach out to the needy out there so as to access education.

 

Allow me, ladies and gentlemen, at this juncture, to extend my invitation to all philanthropic individuals and corporates to join MUA in building this fund through donations, grants, partnerships, and so on.   The University also welcomes support in kind such as building materials in private-private or public-private partnerships and such buildings will be named after the sponsor.

 

Finally, allow me to once again thank you for choosing to join MUA endowment fund raising dinner tonight. May God bless as you purpose to give generously.

 

It is now my pleasure to invite the Dr. Peter W. Muthoka, the Chairman of MUA Board of Trustees to address us as our Chief Guest and invite the other Chief Guest.

 

Thank you.

 

ENG. M.S.M. KAMAU, CBS, CHAIRMAN,

UNIVERSITY GOVERNING COUNCIL 

 

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