……Education Minister says the initiative will boost long-term university financing and expand access to higher education in Malawi.
BLANTYRE-(MaraviPost)-The Minister of Education, Science and Technology, Bright Msaka, has applauded the Malawi University of Business and Applied Sciences (MUBAS) for establishing an Endowment Fund.
He described the initiative as a bold and visionary step towards strengthening long-term university financing.
Speaking during the launch and fundraising golf tournament in Blantyre on Saturday, he said the development marks a significant milestone in building a sustainable and inclusive learning environment for future generations.
Msaka emphasised that the Endowment Fund goes beyond being a financial tool.
He said it stands as a symbol of trust, faith, and commitment to the youth of Malawi.
The minister commended MUBAS for its leadership, innovation, and strategic foresight in conceptualising the fund.
He added that the event was a celebration of resilience and strong partnerships within the higher education sector.
Msaka also linked the initiative to Malawi’s ambition of attaining upper-middle-income status by 2063.
He highlighted ongoing government reforms aimed at strengthening higher education infrastructure, digital learning, and policy frameworks.
He urged stakeholders including alumni, the private sector, and development partners to support the Endowment Fund.
Msaka described every contribution as an investment in Malawi’s most valuable asset: its people.
In her remarks, MUBAS Vice-Chancellor Professor Nancy Chitera said the Endowment Fund is a long-term and sustainable mechanism designed to support needy students.
She noted that the fund will complement existing government loan programmes.
Chitera said the university management has committed to injecting MK200 million into the fund annually.
She further stated that the target is to grow the fund to MK5 billion within three years.
Currently, the Endowment Fund has already reached approximately MK800 million.