President Nana Addo Dankwa Akufo-Addo has launched a $100 million endowment fund for the University of Ghana – Legon with a seed money of GH¢5 million from the Ghana Education Fund.
The fund is expected to help the university enhance its research abilities to effectively contribute its quota in addressing the developmental challenges of the country.
The President paid glowing tribute to the university for contributing immensely to the human resource development of the country.
He said it is in recognition of the important role research plays in the development of nations that his government is working round the clock to ensure a speedy release of book and research allowances to university lecturers across the country.
He hinted that research and book allowances, to enhance research in the various public universities across the country, is at Cabinet for consideration, and was hopeful that it would soon be released.
The President further pledged his government’s commitment towards developing the country with education as the driving force.
Vice-Chancellor of the University of Ghana, Professor Ebenezer Oduro Owusu, in his address, noted that the proceeds from the fund would assist in the provision of additional facilities and resources to enhance research and teaching at the university.
“It is also envisaged that the funds so generated will be used for graduate training and thesis research, as well as for the upgrade of internet connectivity on all UG campuses and facilities for the expansion of access to library facilities.”
He added that the university is poised to distinguish itself in the area of research, to make an impact both at the national and international levels.
He was optimistic that the fund would go a long way to bring relief to the students, who have for ages been the major contributors to the university’s internally generated funds.
According to the vice-chancellor, the fund would be directed to the four thematic areas; namely, malaria research; trans-discipline research into climate change and adaptation; enhancing food production and processing; and development policy and poverty monitoring and evaluation.
He added that the move is in line with current trend across the world, where universities are funding their operations through strategic and aggressive fundraising and endowments
He used the occasion to urge all partners of the university to contribute to the fund to realise its dreams.
“We believe your involvement will go a long way to assist the university to raise the much-needed funds to address its many challenges and reach its goal of becoming a world-class research institution.”