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{
    "id": 696768,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/696768/?format=api",
    "text_counter": 196,
    "type": "speech",
    "speaker_name": "Hon. Ichung’wah",
    "speaker_title": "",
    "speaker": {
        "id": 1835,
        "legal_name": "Anthony Kimani Ichung'Wah",
        "slug": "anthony-kimani-ichungwah"
    },
    "content": "sector like our public universities, still rely heavily on the Exchequer to finance their operations. Even a school like the Kenya School of Monetary Studies that initially operated under a grant from the Central Bank of Kenya (CBK), as it is, is still heavily reliant on those grants both from the Exchequer and from CBK . One wonders why universities that are admitting thousands of our children and charging them very high fees are not able to operate profitably and even be a source of revenue to the Exchequer. Instead, they are relying on the Exchequer for financial support whereas we have seen the proliferation of private universities, some of which charge lower fees than the public universities for their parallel programmes. You are aware that almost all our public universities have campuses in this town and other major towns that are offering parallel degree programmes. They charge higher fees than the private universities that operate profitably. Therefore, there is no need to belabour the point that all those things are as a result of imprudent commercial decisions and poor management. We have recommended as a Committee that the National Treasury puts in strategies for the independent financial sustainability of the Kenya School of Monetary Studies and its continued financial existence as the preferred monetary institute for the region. A legal framework should be put in place to delink it from direct financial support by the CBK and its mandate widened. Hon Temporary Deputy Speaker, you realise that this is a school that offers very specific courses in the banking and financial services sector. It is the only school of its kind almost in the entire East and Central African region. Therefore, if it was well aligned and managed, it can profitably operate within the region and in this country and give revenue to the Exchequer. Two, we have recommended that the Ministry of Education, Science and Technology and the National Treasury develop a sustainable financial mechanism for our public universities, as I said, to avoid the over-reliance of the public universities on the Exchequer. Our third recommendation says that public universities should stop solely depending on student-based revenue sources. They should diversify the revenue base by exploring strategic partnerships and co-operation and linkages, especially with the private sector, that will ensure that the knowledge and innovations generated by the universities contribute towards income generation by the universities and also to utilise the resources they have. Many of our public universities, for instance, the University of Nairobi, that is right in our Central Business District (CBD), has resources and land that they can utilise commercially---"
}