By Eunice Chitika, contributor:
Standard Bank plc has released the 2023 consignment of funding worth K20 million to Malawi University of Science and Technology (Must) towards its endowment fund, which seeks to assist needy students and enhance resource mobilisation.
Through the endowment fund, Standard Bank committed a four-year sponsorship package amounting to K80 million which is distributed in K20 million tranches per year.
Standard Bank Head of Engineering and Chairperson for the Corporate Social Investment Committee William Nuka said that the fund seeks to improve access to education for students and further improve service provision at the institution.
Nuka said through the funding, Standard Bank is enhancing equity in the education sector.
“Our contribution is aligned with the policy to ensure that every student has equal access to education with suitable equipment,” Nuka said.
Must Vice Chancellor Professor Address Malata hailed the working relationship it has with the bank.
“Since we started our operations in 2014, Standard Bank has been a partner for growth, helping Must to be financially sustainable. The contribution will help enhance delivery of education services at the institution and assist needy students,” said Malata.
Through the endowment fund, Must is aligning its programmes with aspirations of Malawi 2063.
Must Endowment Fund was established in 2021 to provide a more sustainable mechanism of resource mobilisation to support needy students and also foster the university’s developments.