Universities Debts now Stands at Sh77B
The debt of public universities in Kenya has exceeded Sh77 billion, according to Education Cabinet Secretary, Ezekiel Machogu. He made this announcement during the 47th Graduation Ceremony at Egerton University and attributed the accumulation of debt to the challenging economic environment and mismanagement within the universities.
Machogu expressed regret that this debt had been accumulating over the past decade without effective solutions being found. He stated that the government is working on innovative solutions to address the universities’ financial issues, management problems, and board conflicts.
However, he cautioned that the problem could persist if the universities themselves do not contribute to innovative solutions. Among the proposed solutions is sponsoring Vice Chancellors to visit universities outside Kenya for benchmarking and encouraging universities to use their own resources and projects to raise funds and reduce the debt burden.
Machogu emphasized that the government is focusing on evidence-based measures to provide appropriate solutions. He also mentioned the challenges related to the capitation fund for current first-year students, noting that while a significant number of students had been placed in universities, the government had not yet deposited funds for them, which led universities to admit them without the capitation fund.
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The government plans to conduct a cleanup exercise to ensure that universities have prudent administration that maximizes resource utilization.
Machogu encouraged graduates to use their education and training to contribute positively to society and explore opportunities, particularly in the digital job market.
Moiben MP Phyllis Bartoo praised the government’s efforts to reform universities in order to relieve their burden and bring about transformation. She mentioned that lawmakers are supporting these reforms to reduce university debt and provide support when needed.
Egerton University’s Chancellor, Dr. Narendra Raval, advised graduates to stay focused on their goals, take care of their mental health, and consider entrepreneurship and self-employment.
Prof. Isaac Kibwage, the Vice Chancellor of Egerton University, mentioned the graduation of 33 PhDs, 118 Masters, 3,629 Bachelor’s Degrees, and 168 Diploma graduates. He also stated that the government has promised Sh100 million in funding for the construction of a laboratory and offices at the university.
Universities Debts now Stands at Sh77B
