MUBAS Endowment Fund hailed as game changer for higher education

By Michael Martin//MALAWI

The Minister of Education, Science and Technology, Honourable Bright Msaka, SC, has applauded the Malawi University of Business and Applied Sciences (MUBAS) for launching its Endowment Fund, calling it a bold step toward reshaping the future of higher education financing in the country.

Speaking during the launch and fundraising golf tournament held in Blantyre on Saturday, he described the initiative as a landmark moment for the nation’s academic landscape.

Msaka noted that the Endowment Fund represents a visionary approach to creating a resilient and inclusive system that will support present and future generations of learners.

He explained that the Fund goes beyond raising money, portraying it as a symbol of confidence in Malawi’s youth and a commitment to empowering them with opportunities that can transform their lives.

The minister commended MUBAS for demonstrating strong leadership and innovation at a time when universities are seeking sustainable financial models.

He highlighted that the launch event reflected the unity and determination of various stakeholders working together to address long-standing challenges in the education sector.

Hon. Msaka emphasised that student dropouts due to financial hardship come at a great cost to families and the nation’s development goals, making long term funding strategies essential.

He also acknowledged government interventions under His Excellency Professor Arthur Peter Mutharika, particularly the expansion of student loans and grants that continue to ease financial pressures on learners.

According to the minister, the Endowment Fund will play a critical role in providing scholarships, supporting research and improving campus facilities, positioning MUBAS for future relevance and stability.

He linked the initiative to Malawi’s long term development vision, noting that a strong education foundation is vital to achieving upper-middle-income status by 2063.

Hon. Msaka further pointed to ongoing government reforms that aim to modernise higher education through improved infrastructure, digital learning systems, and progressive policy support.

He urged alumni, corporations, and development partners to actively invest in the Endowment Fund, stressing that each contribution strengthens Malawi’s human capital.

The minister reaffirmed the government’s commitment to ensuring that no deserving student is denied education because of financial obstacles.

In her remarks, MUBAS Vice-Chancellor Professor Nancy Chitera described the Endowment Fund as a strategic and sustainable solution designed to complement existing student loan schemes while targeting the most vulnerable learners.

She revealed that management has pledged to contribute K200 million annually to the fund, with an ambitious goal of growing it to K5 billion within three years an effort already showing progress, as the fund currently stands at about K800 million.