UNZA in K2.5m debt
The University of Zambia has disclosed that it has a staggering debt of K2.5 Billion with more than 50 percent owed to retirees.
UNZA Vice Chancellor Professor Luke Mumba said at a media briefing yesterday that the institution has been experiencing difficulties to meet its statutory obligations and paying off retirees.
Professor Mumba says there’s need for UNZA to generate its own revenue and reduce dependency on public funds from the current 90 percent to 50 percent.
And Professor Mumba said UNZA has inadequate accommodation with 31,000 students against the current bed space that has remained static at 3,700 bed spaces.
He said UNZA will soon embark on the construction of a modern student village with 10,000 bed spaces and two hundred staff houses.
Professor Mumba said the project will help address congestion and staff accommodation challenges.
He said the village complex will be equipped with its own power generation plant that will provide an average 50 megawatts of electricity.