Catholic University to raise GHc200 million for an Endowment Fund

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Accra, May 20, GNA-The Catholic Bishops’ Conference and the Governing Council of the Catholic University College of Ghana (CUCG) are spearheading the establishment of an Endowment Fund that will enable the University secure a Presidential Charter.

They have targeted to raise GHC200 million towards the establishment of the Fund in the next two years.

Speaking at a ceremony to launch the Endowment Fund and Rebranding of the University, in Accra, Professor Daniel Obeng Ofori, the Vice Chancellor of the CUCG, said it needed a Presidential Charter to make it autonomous to award its own degrees and certificates.

It would also enable the University to undertake research that would contribute to the body of academic knowledge in the country, he added.

Prof. Obeng Ofori noted that the regulatory requirement for granting of a Charter was the establishment of an Endowment Fund.

This, he said, would enable the University to mobilise funds towards the establishment of key infrastructure, including library, e-learning centres, lecture halls and furniture, as well as other modern facilities, to support the pursuit of higher learning.

A Presidential Charter is the academic equivalent of a seal of approval which testifies that a tertiary educational institution has come of age and is now officially recognised as an institution capable of independently contributing to the academic body of knowledge.

Prof. Obeng Ofori said: “The Fund would improve hostel services, Internet and information communication technology services, as well as provide more conducive academic environment for the students and our clients.

“We’ll offer valued added courses and provide scholarships for lecturers and facilitate staff development to enable them acquire their PhDs and Masters in order to enhance academic work of the University”.

The Vice Chancellor said the University’s Governing Council had instituted a strategic plan that has the potential of making it the new paradigm in tertiary education in the Sub-Saharan Africa.

Archbishop Philip Naameh, the Archbishop of Tamale and President of the Ghana Catholic Bishops’ Conference, in an interview with the Ghana News Agency, said the Fund would aid the progress and development of the University.

He said the acquisition of a Presidential Charter would enable the University to operate without any supervision from any other university, and also compete equally in the academic field.

He expressed optimism that the Charter would be granted after raising substantial amount needed to convince the National Accreditation Board and the President of the Republic of Ghana.

Mr Albert Essien, the Board Chairman of the Ghana Home Loans, who was the Special Guest of Honour for the occasion, donated USD$20,000 towards the establishment of the Fund.

The Catholic University College of Ghana is currently located in Fiapre, Brong Ahafo Region, and has chalked 15 years in existence.

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