Universities currently owe Sh77B.
The Education Cabinet Secretary, Ezekiel Machogu, claims that public institutions in Kenya owe more than Sh77 billion. He made this remark at the 47th Egerton University Graduation Ceremony. Further, Machogu blamed the difficult economic climate and institutional mismanagement for the debt accumulation.
The CS expressed sadness that no practical solutions had been discovered to address the debt accumulation during the previous years. According to him, the government is developing creative ways to deal with;
- The board disagreements
- Management issues
- Budgetary concerns facing the universities.
But he issued a warning: if colleges themselves don’t come up with creative solutions, the issue might still exist. One of the suggested remedies is to encourage universities to use their own resources and projects to raise money and lower their debt loads, as well as to sponsor vice chancellors’ visits to institutions outside of Kenya for benchmarking.
Machogu stressed that in order to offer suitable solutions, the government is concentrating on evidence-based policies. He also discussed the difficulties with the capitation fund for first-year students now enrolled in universities, pointing out that even though a large number of students had been admitted, the government had not yet deposited monies for them, forcing colleges to admit them without the capitation fund.
Universities currently owe Sh77B
In order to guarantee that colleges have responsible administration that optimizes resource usage, the government intends to carry out a cleanup exercise.
Machogu urged graduates to take advantage of opportunities, especially in the digital job market, and to use their knowledge and training to constructively impact society.
Phyllis Bartoo, a Moiben MP, applauded the government’s initiatives to restructure universities in an effort to lighten their workload and effect change. She stated that legislators are in favor of these changes to lower student loan burden and offer assistance when required.
Dr. Narendra Raval, the chancellor of Egerton University, gave graduates advice on how to maintain focus on their objectives, look after their mental health, and think about starting their own business or working for themselves.
Vice Chancellor of Egerton University Prof. Isaac Kibwage announced the graduation of 33 PhDs, 118 Masters, 3,629 Bachelor’s Degrees, and 168 Diplomas. Additionally, he said that the government has committed to providing Sh100 million toward the building of a lab and offices at the university.
Universities currently owe Sh77B.
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