By Melvin Richard Babin
The University of Sierra Leone (USL) which consists of Fourah Bay College, Institute of Public Administration and Management (IPAM), and College of Medicine and Allied Health Sciences (COMAHS) on Friday 27th January, 2023 launched an Endowment Fund for the three constituent colleges.
The objective of the Endowment Fund is to develop the University’s infrastructure, explore innovative research, improve services, and deliver programs, ensure fiscal independence, and provide the University with a guaranteed source of income to accomplish these objectives.
The Minister of Technical and Higher Education, Dr. AlphaTejan Wurrie in his remarks explained how the University has gone through turbulent times. “In the face of all those diversities, the University has developed,” he said, adding that the Endowment Fund is a potential vehicle to help develop the University further.
He further said “Alhaji Tunde Cole has shown us the way how to invest and give back to society,” and that “he wants us to continue in that direction.”
The Vice-Chancellor and Principal of the University of Sierra Leone, Brig. Gen. Professor Foday Sahr in his statement, said every sober-minded Sierra Leonean should think outside the box.
“Let’s think outside the box. Success depends on your commitment and the commitment of well-wishers and Alumni,” he informed his audience. He continued to state that having an Endowment Fund will create an opportunity to diversify the income of the University. He ended his statement by encouraging all and sundry to make the Endowment Fund a fruitful endeavor.
The Chairman and Chancellor of the Court of the University of Sierra Leone, Dr. James Sanpha Koroma in his speech said he is very committed to the Endowment Fund and that his commitment will be strengthened in diverse ways. He said there is a need for the Endowment Fund and that it has to be sustainable.
The Vice President of the Republic of Sierra Leone, Dr. Mohamed Juldeh Jalloh in his submission said Sierra Leone ranks 5th in educational transformation around the globe. He said “we have more girls in Education compared to the last decade.”
The Honorable Vice President went on to say “there was no suitable time for such an intervention than now when Sierra Leone is ranking very high in transforming education in the world especially when President Julius Maada Bio is the Chairman of the Transforming Education Summit, Co-Chair of the United Nations Secretary-General, as well as Sierra Leone, being among the five nations named as global champions in education transformation.”
He stated that the country is in the era of free quality education which “speaks volumes about our determination and conviction as a people in transforming the educational sector”. He emphasized that the relevance of the Endowment Fund is to look for new sources of financing, “because when you look at the universities today, the USL has over twenty-seven thousand students which, in the next five years will be doubled”.
The floor was then opened for donations and pledges from all the distinguished guests and the general public.
The management of the Fund was later announced and Rev. Professor J.J Momoh, the Vice Chancellor and Principal of EBKUST did the vote of thanks.
