Accra, June 3, GNA - The Sam Jonah Endowment Fund for the development of the University of Cape Coast (UCC) has raked in 4.6 billion cedis, Dr Sam Jonah, Chancellor of the University and President of AngloGold Ashanti, announced at a press luncheon in Accra on Thursday.
The fund primarily aims at expanding facilities on the UCC campus to accommodate more students; facilitate and encourage the training of young graduates to take over teaching in the various faculties and compensate Lecturers who have sacrificed to work in the University. Dr Jonah, who was speaking at the luncheon, expressed dissatisfaction at the inadequate facilities that had crippled the University's capacity to admit qualified students.
He said the unattractive service conditions of Lecturers had made it extremely difficult for the University to recruit young graduates into the faculties.
Rev. Prof Emmanuel Obeng, Vice Chancellor, expressed appreciation at Dr Jonah's effort at helping to alleviate the ever-increasing problems of the University.
He said apart form the discharge of his ceremonial responsibilities the Chancellor, had assisted in diverse ways in addressing some of the problems in the University.
Contributors to the fund were: CIBC Woods Gundy, 200,000 dollars; Taysec, 100,000 dollars; Norton Rose Law Firm, UK, 100,000 dollars and Societe Generale France 15,000 dollars.
The others were: BCM Mining Contractors, 100 million cedis; PW Construction, 100 million cedis; Societe-Generale-SSB, 100 million cedis; Goldfields 100 million cedis and ECOBANK 50 million cedis. Dr Jonah is to assume duty in South Africa next week as President of AngloGold Ashanti, the largest gold mining concern in the World.