James Mwangi: William Ruto Appoints Equity Boss As First Chancellor Of Open University

• President William Ruto officially opened the Open University of Kenya (OUK) at Konza City in Machakos county
• Ruto named Equity Group CEO James Mwangi as the first chancellor of the institution, which will be offering lessons online
• The president disclosed that he picked the banker because of his well-documented passion for education

Machakos - President William Ruto has awarded the Charter to the Open University of Kenya (OUK), Konza, Machakos County.

During his speech, the president announced the appointment of Equity Group CEO James Mwangi as the University's first chancellor.

Ruto praises James Mwangi

The head of state explained that his move to appoint Mwangi was deliberate because of his dedication to championing access to education through his Equity’s Wings To Fly scholarship program.

“I didn’t give you options to say No because I have seen your passion for education. I am proud that we will be prouder of your stewardship as chancellor of the Open University of Kenya.

I was very specific when I told Education CS Ezekiel Machogu who the chancellor should be," the president said.

Ruto termed it a proud moment to see a project he had championed since his days as the Higher Education Minister under the late Mwai Kibaki regime come to life.

“When I began this process when I was minister for higher education, I wanted to complete it within a year but I couldn’t because of the circumstances then and I am happy we made this a part of the Kenya Kwanza commitment. It is a very proud moment for me to see this coming to fruition," he said.

Ruto announces KSh 21b HELB funding

Earlier, President Ruto announced a new funding system for universities in the country.

In a statement sent to media houses, Ruto announced that the government would increase the Higher Education Loans Board (HELB) loan by KSh 21 billion to cater to the growing number of students seeking university education.

"The government shall fully fund the vulnerable and extremely needy students who comprise 29% of the students joining university and TVETs this year. The funding shall be through government scholarships, loans, and bursaries," Ruto said.

Under the new funding system, students from needy households joining universities will receive government scholarships of up to a maximum of 53% and loans of up to 40%.

Their households will only pay for 7% of the cost of their university education. Similarly, those joining Technical and Vocational Education and Training (TVET) institutions will receive government scholarships of up to a maximum of 50% and loans of up to 30%.