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Monday, 05 August 2019 14:37

Mzuni plans to attain 50 % financial independence

Written by  Wisdom Ngwira
President Mutharika congratulates a aldy who passed with distinction from Mzuzu University - File Photo President Mutharika congratulates a aldy who passed with distinction from Mzuzu University - File Photo

Mzuzu, August 3, 2019: Mzuzu University (Mzuni) says it intends to be sourcing funds on its own so that it meets 50 percent of the total budget that government allocates to the institution for its operations.

The university says, currently, it contributes 30 percent to the budget.

Speaking in an interview, recently, Mzuni Vice Chancellor Professor John Kalenga Saka said the university is on the right track in attaining the 50 percent financial independence status.

“As a university, we believe in being fully independent financially; but for a start, we have decided to target meeting 50 percent of government’s total financial budget to supplement the subvention which we get annually,” Saka said.

Professor Saka said, to make the plan a reality, the university intends to engage in a variety of initiatives to diversify its financial base.

“We, for a start, intend to have financial generating activities which we believe will be crucial in our drive.
“We also intend to turn our various academic works such as research activities into commercial entities so that we earn something from them,” he said.

Saka said Mzuni is constructing a tourism centre which where clients will be paying fees for them to access services as is the case with hotels.

Mzuni Council chairperson Dr Mcphail Magwira said it is impressing that the university is heading to attaining financial independence.

“This is the right step towards weaning ourselves from government. We intend to be fully independent,” Magwira said.

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