PRESIDENT LAUNCHES 100 MLN USD ENDOWMENT FUND FOR UNIVERISTY OF GHANA

ACCRA– President Nana Addo Dankwa Akufo Addo has launched a 100 million US dollars endowment fund for the University of Ghana (UG), the country’s oldest and largest tertiary institution, to enable it to distinguish itself in the area of research to make an impact on development both at the national and international levels.

With seed money of five million cedis (about 1.1 million USD) from the Ghana Education Fund, the endowment fund would among other things provide additional non-restricted funding to enable the university improve the delivery on its mandate, and assist in the provision of additional facilities and resources to enhance research and teaching.

At the launch of the Fund at the Great Hall of the univerity at Legon, near Accra, on Monday, President Akufo-Addo noted that the institution, since its establishment in 1948, had lived up to its mission of developing world class human resources and capabilities to meet Ghana’s needs for development and also global challenges.

He said the university continued to be the centre of many scientific and technological innovations, with its diversity of research efforts and outputs in different disciplines receiving international acclaim.

It is thus laudable and appropriate that the university is establishing an endowment fund in this anniversary year to provide additional funding and resources to enable the University improve upon the delivery on its mandate, the President said.

President Akufo-Addo, himself an alumnus of the university, said the establishment of the Fund was an excellent initiative, as that was the fulcrum around which most world class universities operated.

My government fully supports and shares in your vision to become a research-intensive university and will do all in our power to help you actualize it, he pledged.

Source: NAM NEWS NETWORK