The University for Development Studies (UDS) has launched an endowment fund to raise GHc100 million over the next four years to support infrastructure development and research activities at the University.
The fund which will be known as the University Endowment Fund for Development Studies (UDSEF) will also support scholarships for needy and talented students, who need financial assistance to complete their studies. at University.
UDS Board Chairman Prof. Wayo Seini launched the UDSEF during the UDS Special Congregation in Tamale on Saturday.
A total of 425 graduates, including 145 postgraduates and 280 undergraduates in nursing and midwifery, graduated during the congregation.
The core mandate of UDS is to provide world-class pro-poor scholarship that combines academic work with practical, field-focused research and facilitation aimed at solving community problems.
Professor Seini said: “Unfortunately, although each year UDS continues to receive a large number of qualified applicants for its programs, it is unable to admit a good number due to insufficient academic facilities.”
Besides a good number of UDS students are unable to pay their fees, a situation which has forced them to postpone their studies or drop out completely while some new applicants and continuing students have also asked the University management financial support, which is not available.
He said these situations informed the decision and motivation to establish UDSEF to provide additional funds to complement the government’s efforts to ensure that the University fulfills its mandate.
He said, “I hope we will continue to work together for the betterment of our nation through quality education,” expressing his gratitude to the UDS community for their cooperation and support over the years.
Professor Gabriel Ayum Teye, Vice Chancellor of UDS, also underscored the importance of UDSEF, saying, “We need investments of several million cedi to construct new buildings, laboratories, classrooms and purchase materials.
Professor Teye said the government continued to provide funding to support our operations, but this support needed to be complemented by other initiatives and alternative funding sources to support infrastructure development and research.
He therefore called on corporate bodies, individual philanthropists, staff, students and alumni of the University to contribute generously to the fund.
Reverend John Ntim Fordjour, Deputy Minister of Education, commended the UDS for supporting the government’s efforts to reintegrate Ghanaian students, who have returned from Ukraine, to continue their education.
Rev. Fordjour also commended the University for launching UDSEF, saying it would complement the government’s efforts to provide infrastructure facilities to the University.
He said the government is committed to ensuring that by 2030, 60% of admissions to higher education institutions are to science, technology, engineering and maths programs as opposed to humanities .
Meanwhile, a seven-member UDSEF Board of Trustees was inaugurated to direct the necessary fundraising efforts.