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The main objective of establishing KNUST College of Engineering Endowment Fund is to provide stable and predictable funding for the College of Engineering to enable it become an internationally acknowledged Centre of Excellence in Engineering education; producing high caliber graduates with knowledge and expertise to support the industrial and socio-economic development of Ghana and Africa. The target is to raise 50 million Ghana Cedis ($ 5 million) within a period of five years.
The specific objectives are:
- Improve quality of postgraduate programmes
- Expand access to postgraduate programmes
- Provide scholarships to attract brilliant postgraduate students and needy undergraduate students
- Improve infrastructure to support teaching and learning
SOURCES OF REVENUE FOR KNUST COLLEGE OF ENGINEERING ENDOWMENT FUND
The main potential sources of income identified to be generated into the Endowment Fund (EF) are the following:
- Annual Fund Raising through symposium and other technical educational forums
- Donations from organizations deploying the use of science and technology.
- Contribution from strong and motivated alumni network of College of Engineering, KNUST.
- Allocation from portions of College of Engineering Internally generated funds
- Investment interest accruing from investing part of the fund with credible investment houses.
- Private sector organizations, individual etc.
APPLICATION OF KNUST COLLEGE OF ENGINEERING ENDOWMENT FUND
The use of this fund will be generally limited to expenditure relating to areas under the following budget lines:
- Financial support to the brilliant and needy undergraduate students by way of scholarships and other bursaries.
- Expansion of infrastructure to support teaching and research.
- Financial aid to attract brilliant postgraduate students.
- Recruitment of critical and strategic academic and non-academic staff on contract basis until Government gives approval for their appointment to be regularized.
- Recruitment of Post-doctoral fellows to enhance the research output of the college.
- Any other program that the Trustees of the Fund would deem appropriate.
Honourable Dr Yaw Osei Adutwum, Minister for Education GHS 50,000.00
Ing Christian Nti, CEO Ghana Highway Authority GHS 50,000.00
Asib Construction Ltd GHS 60,000.00
Associated Consultants LimitedGHS 300,000
College of Engineering, KNUSTGHS 50,000
Ghana Institution of Engineering GHS 100,000
Ghana National Gas CompanyGHS 500,000
Ghana Gas Company GHS 500,000.00
Ghana Grid CompanyGHS 500,000
Ghana Highway Authority GHS 20,000.00
Ghana Electricity Company of GhanaGHS 150,000
ASIB LimitedGHS 30,000
BANK DETAILS FOR DONATION
Name of Bank: Stanbic Bank
Account Name: KNUST College of Engineering Endowment Fund
Account Number: 904008248502 (GH₵), 904009527588 (US $ )
Swift Code: SBOCCHAC