However, this alone will not be enough to tackle the current debt according to the University Fund boss. "We are looking at diversifying the revenue streams in universities, from a single revenue stream from grants to government-sponsored students and it was becoming very difficult because vice-chancellors were always lobbying to be supported using more money," he said.
Other reforms
The University Fund proposes that higher institutions of learning will be required to enter into public-private partnerships to improve their infrastructure. For example, Monari says the institutions would need to use such a model in the construction of hostels for their students.
A popular model, Build-Operate-Transfer, has been suggested for this project, where the university provides land for a private investor to build a hostel facility and they will be allowed to operate it for the agreed number of years to recoup their investments and then transfer it to the university.
Another proposal is for universities to cut down on sourcing electricity from Kenya Power and instead build capacity to generate their own power.
Power cost, Monari indicates, has been one of the major debt accumulators in universities; thus suggests investment into renewable energy such as solar power to be utilised by the institutions.
Cutting down on this expense, Monari says will not only save millions from universities but also could be turned into an income-generating activity.
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"Strathmore University is a good example. They not only generate their own power but if you look at the list of independent power suppliers to the KPLC, you will find that they are there," Monari said.
An additional area the universities have been encouraged to tap into is consultancy services. This, Monari suggests, will be done by academic staff of various institutions as they are equipped to provide the expertise required in various sectors.
Monari noted that they are lobbying government institutions to make exclusive reservations for consultancy services to public universities. This way, State agencies will be compelled to use universities when they seek consultancy services.
"We are lobbying so that universities will be able to provide consultancy at maybe 30 per cent of government services," he revealed. Moreover, universities will be required to commercialise their research projects to attract funding.