The strength of Harvard
University’s endowment fund is quite exceptional, because the $30 billion that
the university makes from its donors is more than the entire amount spent by
British universities, as a BBC report in 2011 indicated. The Harvard University endowment fund is an example of where private effort is made to generate
funding for university education.
Here is an
example of government effort to establish a world class university. As reported
by Global Higher Education, the King Abdallah University of Science and
Technology in Jeddah started with an investment of $12.5 Billion. This is just
one university that is at the moment in transition to compete with the best
universities in the world.
So to return to
our main subject, universities in Africa need to device creative means of financing their activities, some of
these means are not beyond reach. For this reason this column will suggest
three different alternatives to seek additional income for universities. The
first solution one would propose is intra-regional consolidation which has
various elements. A common trend you find in some African universities is
multiplication of effort. For instance you can find three universities in the
same region receiving funding from the same government, yet each of these
universities would have chemistry department, biology department, sociology
department etc. Yet at the end of the day neither department possesses enough
staff strength and modern equipments to the highest standard. Instead of having
three or four similar departments producing so many half-baked graduates, the
universities should collaborate with each other and produce centres of
excellence with each university focusing on its areas of strength.
Let’s take some universities in Nigeria for instance. What is the
key difference in terms of specialization between Ahmad Bello University,
Bayero University and Usman Dan Fodio University? How does the University of Lagos,
the University of Ibadan and Obafemi Awolowo University differ from each other in terms of
the quality of the courses they offer and the nature of their specialization?
Running a university in this age is a serious business that requires a lot of
strategic thinking in terms of the local and the global positioning of the
institution.
If you take for
instance the United States, you can see the point I am trying to make when you
look at some universities in the same region. Both Harvard University and
Massachusetts Institute of Technology (MIT) are located in Boston, yet each of
them is different in its global positioning. Similarly, the Colleges of the
University of London such as University College London (UCL), Imperial College,
and the School of Oriental and African Studies have a clear global positioning
such that students clearly know why they apply to these universities. Employers
clearly understand what to expect based on the specialization of such
institutions. Governments requiring policy input know exactly which institution
has the uniqueness to address their concerns.
In essence,
African universities need to create a brand for themselves. This will help in
coming up with better ideas for income generation. If you revisit the list of
the best universities in the world as mentioned earlier in this series, one
thing you will notice is that almost each one of them has an identifiable
brand. The creation of this scholarly brand is essential in attracting the best
into the universities. These students would eventually take policy making
positions; some of them will run successful individual businesses etc. when a
university succeeds in producing high quality graduates, it must follow that up
with a strong alumni programme, by making sure it remains in touch with each
student from graduation to retirement.
Alumni
associations are not about annual gatherings. They are about unlocking the
potential of your graduates, following their career development, and utilizing
their experience as well as resources for the benefit of the university. In
universities elsewhere, it is not uncommon to find departments getting free
teaching from their students who have amassed so much experience in their
field, and running classes free of charge. It is not uncommon to see key
university infrastructure in various universities built by their alumni. The alumni
are equally the best starting point for establishing a strong endowment fund
for universities.
These kinds of
initiatives are part and parcel of creative investment. A key area of
investment for universities is housing within the region of the university.
Just take a census of students living in university surroundings, paying
exorbitant amount for rent, yet the very universities in whose neighborhood these
students are living do not benefit from anything economically. A lot of our
universities actually have enough land to build houses and give it as rent to the
students. Anyone who studied in British Universities will tell you how
substantial part of the houses surrounding the universities are owned by the universities.
These are investments that do not require deep thinking before they could be
initiated.
To concluded
7:25am
02/12/1434
07/10/2013
No comments:
Post a Comment