Ruto Vows to Clear University Debts Within Three Years.
President William Ruto has announced a comprehensive plan to eliminate the financial burdens plaguing public universities within two to three years. Speaking on April 30 during the installation ceremony of the new Chancellor at Co-operative University of Kenya, Ruto emphasized that the initiative would involve close collaboration with university chancellors across the country.
He assured that the government was working to free universities from the so-called “debt trap” within the next two to four years. This announcement came in response to a parliamentary report from 2024, which revealed that 23 out of 40 universities were nearing collapse due to a cumulative debt of Sh76 billion.
Ruto addressed concerns about the financial instability of public universities, affirming that the 23 institutions previously considered bankrupt were now experiencing financial recovery. He highlighted that those same universities, which had been struggling with unsustainable debt two years ago, were showing signs of progress.
According to the President, this change in trajectory is a result of a renewed focus on sustainable funding and university management reforms. He noted that the current leadership was steering these institutions toward stability and growth.
Ruto explained that the government was rolling out a more inclusive and sustainable higher education funding model. The model aims to provide equitable access to academic opportunities for all students, regardless of their socio-economic backgrounds. He stressed that education should be a tool for social empowerment and national development.
He said the new system would ensure learners are supported fairly and equipped with skills and knowledge that contribute meaningfully to the economy. The model, he added, was designed not just to fix immediate financial issues but to create a long-term framework for university stability and growth.
The President made these remarks during the installation of Bernard Chitunga as Chancellor of the Co-operative University of Kenya. At just 36, Chitunga is now the youngest university chancellor in the country. Ruto praised the appointment, expressing confidence in Chitunga’s capability to lead and inspire transformation in higher education.
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Ruto remarked that the country requires bold and courageous leaders like Chitunga and highlighted that young people are not merely leaders of the future but can also lead effectively in the present. He described Chitunga as a firm leader, whose rise to the chancellorship was a testament to the trust the nation places in youth leadership.
In his speech, Ruto stated that Chitunga’s leadership would set a precedent for other institutions to embrace youthful innovation and energy, adding that his appointment symbolized the nation’s belief in the power of young people to lead transformative change.
Ruto Vows to Clear University Debts Within Three Years
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