Public institutions' financial problems are said to worsen as the Ministry of Education anticipates a funding shortfall of Sh 49 billion for the fiscal year 2023–2024.
Education Cabinet Secretary Ezekiel Machogu acknowledged that there had been difficulties in providing capitation for students as the rising number of students enrolling in universities hasn't been commensurate with the allocated funds when he officially opened the First Biennial Kenya Universities Funding Conference 2023 on Thursday in Mombasa.
According to CS Machogu, there is a Kshs. 27,921,094,600 financial gap for public universities this fiscal year between the Kshs. 71,945,049,600 financing requirement and the Kshs. 44,023,955,000 approved allocation.
The financing demand for private universities is Kshs. 18,448,041,600 versus an approved Kshs. 3,174,791,604 allocation. There is now a Ksh—15,273,249,996 deficit.
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According to CS Machogu, the predicted budget shortfall for public universities in the upcoming fiscal year is Kshs. 29,361,485,310, while the funding shortfall for private colleges is Kshs. 20,305,673,883.
The University Fund's biennial conference, which lasts two days, brings together university vice-chancellors, university principals, and constituent colleges to discuss various issues, with money at the top of the list.
The gathering occurs concurrently that the Presidential Working Group on Education Reforms has suggested tripling the university tuition now charged to government-sponsored students from Sh 16,000 to Sh 52,000.
CEO of University Fund Geoffrey Monari endorsed the idea, saying it would raise the standard of higher education.
Public universities were on the verge of closing down when it was discovered that they had unpaid liabilities of sh 56 billion accumulated through, among other things, the non-remittance of statutory deductions, deferred salaries, and underpaid suppliers.
Nonetheless, CS Machogu pledged that the government would do everything possible to save public universities from bankruptcy and ensure their survival.
He claimed that the Biennial Conference's recommendations, coupled with those made by the Education Reform Taskforce, will direct government involvement in the sector.
To take steps that will assist in ensuring the survival of our universities and increase access to university education, he said, "I want to promise you that the Government will do everything possible in terms of legislative, policy, and financial initiatives."
To make university education more inexpensive, accessible, and reachable for all students regardless of location or income level, the CS further revealed that plans are ongoing to establish the National Open University of Kenya.
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