The Alumni Association of the Kwame Nkrumah University of Science and Technology (KNUST) has officially launched the KNUST Alumni Endowment Fund (KAEF) to provide sustainable financing for scholarships, research, and critical infrastructure development at the university.

The fund was unveiled at the Captains of Industry Soirée and Awards Night (KOISAN), an event that also recognised individuals and institutions for their long-standing support for KNUST.

Speaking to Citi News on the sidelines of the ceremony, the Global President of the KNUST Alumni Association, Dr Herman Yobo Addae, said the endowment is strategically designed to support scholarships, research, and infrastructure development, with particular emphasis on addressing student accommodation challenges on campus.

“This fund is really focused on supporting scholarships, supporting research, and a big part of it is infrastructure. For KNUST in particular, there is a strong focus on student accommodation. The fund will help us mobilise, grow, and deploy resources in a more sustainable way so that some of these challenges can be addressed in very tangible ways,” he said.

Dr Addae noted that over the years, the university has benefited significantly from the generosity of alumni, industry leaders, and corporate institutions.

However, he explained that there had previously been no formal platform to recognise and celebrate these contributions.

According to him, the KOISAN event was therefore instituted to appreciate the university’s partners while also strengthening collaboration with industry.

He added that launching the endowment fund alongside the awards ceremony was symbolic, as it highlighted how past support has contributed to the university’s growth and development.

“Whatever support has come this far has brought us to where we are today. Now, we have a very structured process that will help grow that support and deliver even greater impact,” he added.

At the ceremony, 35 individuals, 15 state-owned organisations, and 25 private businesses were honoured for their contributions and partnerships with the university.