Africa-Press – Malawi. For many students at the Malawi University of Business and Applied Sciences (MUBAS), the dream of completing higher education has always been threatened by financial hardship. Now, a K150 million injection into the university’s Endowment Fund has brought new hope to those battling to stay in school.
On Friday, the National Bank of Malawi (NBM plc), signed a Memorandum of Understanding (MoU) with the institution to strengthen the Fund. Launched last year, the initiative was designed as a sustainable mechanism to finance scholarships, research, and innovation for students who lack resources.
NBM plc Chief Executive Officer, Harold Jiya, said the Bank was moved by the challenges many students face and felt it was important to step in.
“This fund is meant to support student scholarships, research, needy students, and innovation at the university. As NBM plc, we felt it worthwhile to support this initiative, considering the crucial role academic institutions play in the development of the country,” said Jiya.
He stressed that clear rules have been put in place to ensure the money truly reaches those who need it most.
“We have put in place clear guidelines on how the money will be managed to guarantee accountability and sustainability. This framework will also help attract additional investments to support needy students,” he added.
For MUBAS Vice Chancellor, Professor Nancy Chitera, the gesture goes beyond money, it speaks to the dignity and future of thousands of young Malawians.
“We are very excited about this donation as it reassures us that the Bank believes in us. It gives us confidence that we are heading in the right direction. We believe this Endowment Fund will provide long-term solutions to some of the challenges our students face,” said Chitera.
Chitera noted that out of the more than 10,000 students enrolled at MUBAS, almost half are weighed down by financial struggles so severe that their education and future dreams constantly hang in the balance.
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