The MMUST Chancellor’s Endowment Fund that was launched yesterday, 30th November, 2022, is likely to be one of its kind in Western Kenya. In one single sweep, the Ksh. 200, 000 seed money that had been donated by Dr. Peter Wanyaga Muthoka, was catapulted into 6.222, 499 million in a matter of minutes. The fund seems to have acquired a life of its own with impressive donations from the MMUST Council, Vice Chancellor, and Deputy Vice Chancellor, Registrar of academics, Professor’s Forum, staff and students long before the real work of looking for moneyed benefactors begins.
Speaking at Karen Country Club where he launched the ambitious fund, Dr. Peter Wanyaga Muthoka revealed that his plan is to fashion the ‘Chancellor’s Endowment Fund’ after the world’s great Universities such as Yale, Oxford, Harvard and Stanford. Stanford’s $40.9 billion endowment provides an enduring source of financial support for fulfillment of the University’s mission of teaching, learning and research. Can the MMUST fund do the same? The probability is very high and this is a fund to watch.