Chilima applauds corporates for supporting MUST’s Back-to-Campus fundraising golf
Vice-President Saulos Chilima has applauded various corporate companies and other individuals for responding to the ‘Back-to-Campus and Stay’ fundraising golf organised by Malawi University of Science and Technology (MUST), which aimed at assisting 50 needy students’ scholarships.
He made the gesture on Saturday after also playing in the charity tournament at Blantyre Sports Club and later presenting scholarships to MUST’s needy students.
Chilima, a graduate of the University of Malawi, said government is committed in promoting the welfare of needy students so that they should continue with their higher education.
MUST Vice-Chancellor, Professor Address Malata said the golf tournament was meant for needy students that are faced with many challenges and thus MUST also calls for ‘Adopt a Student’ initiative.
MUST set up an Endowment Fund which corporates contribute but as they await for the Fund’s maturity from various investments, the University decided to organise the fundraising golf as an immediate solution, saying it was to bridge the gap as they await for the Endowment Fund to mature.
The launch of the Endowment Fund last year, also included a charity golf which Chilima also played at Lilongwe Golf Club
Meanwhile, Professor Malata commended National Bank, Standard Bank, FHD Bank, Illovo Sugar, Smile Life Insurance, Blantyre Water Board, Northern Region Water Board, EGENCO, NBS Bank among others for contributing towards the charity drive.
She then called on individuals to adopt a student and sponsor their education until they complete their education at MUST, whose total scholarship package is at K5 million for the duration of their academic period of four years.
Malata commended people individuals such as legislator for Blantyre City South Constituency, Noel Lipipa, former MP for Blantyre Kabula, Rashid Gaffar, Roza Mbilizi, who adopted students at MUST. Lipipa also played the charity golf at the launch of the Endowment Fund in a team with Chilima.
Present was Principal Secretary for Basic Education, Rachel Chimbwete Phiri, who said the Ministry appreciates the corporate world’s response and further hailed other individuals for demonstrating humane gesture towards the call to help the needy students to complete their tertiary education at MUST.
“This is a gesture of solidarity,” she said, adding: “These students need our collective support.”
In response to the gesture, one of the beneficiary students, David Nyirenda — a fifth year Biomedical Engineering student — hailed the support, saying: “This is a celebration of human kindness”, adding that needy students cherish such humane gesture.
Illovo Sugar Malawi’s head of human resources, Moses Njinga said they invested K150 million into the Endowment Fund, saying the company cherishes existing relationship with MUST.
FDH Bank, which supported K5 million towards MUST’s Back-to-Campus fundraising golf, also contributed K100 million to the Endowment Fund.
The event included an auction of two Malawian Airline return air tickets from Lilongwe to Johannesburg — one of which went at K850,000 and the other at K1 million.
MUST established the Endowment Fund to ensure that teaching, research and needy students’ fees should be sustained forever — taking cognizance that funding from government is not enough to sustain their services.
It is a strategy initiated to diversify revenue streams as universities in Malawi have received annual donations from individuals and corporates in support of tuition fees and living expenses for students.
But whilst this has for sure facilitated education of those supported, it has no assurance of its sustainability and that it benefitted a few whilst the endowment fund is invested with financial institutions to yield interest to cater for its services.
It was also also established taking cognizance that the Loans Board cannot reach out to all due to budgetary constraints and limitations in
The benefits of the Trust is that the donation survives the life of the giver, thus creating true legacy and that an individual donor has the privilege of naming their gift to a family member, a friend, a special faculty member or themselves.
A donor is relieved of the burden of managing their funds and that MUST is contractually obligated to spend on the fund in accordance with the donor’s wishes and shall give regular updates of how the fund is growing and being utilised.—Additional reporting by Duncan Mlanjira, Nyasa Times
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