Mugabe brews $1billion university shocker

Mugabe brews $1billion university shocker

Source: Mugabe brews $1billion university shocker | Financial Gazette (News)

By John Kachembere
Business Editor

ZIMBABWE’S cash-strapped government has approved a $1 billion grant to a university to be built in honour of President Robert Mugabe, a Cabinet Minister disclosed yesterday.
Jonathan Moyo, the Minister of Higher and Tertiary Education, Science and Technology Development, said Cabinet had approved an $800 million grant towards the construction of the Robert Gabriel Mugabe University, which will be owned by the Robert Gabriel Mugabe Foundation, whose founding trustees will be Mugabe and his wife, Grace.

He said a grant of $200 million towards the establishment of the university’s endowment fund for research and innovation had also been approved by Cabinet.
“There can be no better recognition of President Mugabe’s commitment to education and his exemplary leadership,” Moyo told journalists.

Mugabe, 93, who has led the country since 1980 when it attained independence from colonial Britain, is the chancellor of all State universities.

“The Robert Gabriel Mugabe University will be a STEM (science, technology, engineering and mathematics) institution designed to facilitate the discovery of scientific, technological and engineering solutions to improve the quality of life of our country and humanity,” he added.

It is not clear how the government, which is struggling to fund social programmes, including health and education, as well as infrastructure development, will fund the project. However, government has created wiggle room for itself despite tight fiscal space, through the issuance of Treasury Bills.
Public universities, which received $221 million in budget allocations this year, are struggling with poor funding despite United Nations emphasis to have 15 percent of the National Budget going towards education.

Official figures show that public higher education systems in the country are historically heavily dependent on the fiscus (80 percent) for their capital and recurrent expenditures.
Economic analysts assert that underfunding from government has resulted in archaic and primordial technological equipment in higher institutions of learning.

With an initial grant of $200 million (2,6 billion rand) towards its endowment fund, the Mugabe university would surpass what top South African institutions such as the University of Pretoria (2,47 billion rand), University of Cape Town (2,37 billion), University of Witwatersrand (1,6 billion rand), University of Stellenbosch (1,48 billion) and Rhodes University (300 000 rand) received in 2010.
Only the University of South Africa), with endowments close to five billion rand tops the proposed Mugabe university in these stakes.

-->

COMMENTS

WORDPRESS: 3
  • comment-avatar
    Ndonga 2 months

    Let’s hope they don’t churn out worthless and unread “two week specials” PhDs theses, just like our Lady Graceless did recently at our University of Zimbabwe.

    Can anyone really imagine any reputable university, or academic, anywhere having anything to do with a university of which Grace Mugabe is a trustee?

    If the truth be told this is simply a scam to siphon off more money for sending to that well stocked bank account in Dubai…and for buying the odd diamond ring of course.

    And to top it all our own “top academic” Jonathan Moyo has his dirty fingers in the pie. He is the very one who, when an academic, ran away with a kind donor’s research monies.

  • comment-avatar
    esme 2 months

    Did the President boast that he had a “degree in killing?”

    His university is the “Court at the Hague” where he can lecture on

    “Genocide in Matabeleland”.No doubt he could mention the late Mr.Zamara

  • comment-avatar
    Bonus 2 months

    This is a serious fraud and I wonder why they plan to build a university and yet the country has hundreds thousands unemployed graduates.The hospitals,schools and infrastructure to name a few without industry is suffering with the government it’self not paying it’s employees in time. Please nyaraiwo vanhu kunyarare hakusikupusa.Zimbabweans are scattered all over with nurses,teachers and other educated people doing unwarranted jobs,enough is enough Ba Jukwa and your bosses