Embu church to get funds for varsity from Korean firm

Kenya Anglican University education board members led by Embu Senator Lenny Kivuti (left) and officials ACK Diocese of Embu meet officials of Korean multinational Global Capital Ventures on Saturday at Kanyumbora, Embu County on November 19, 2016. The university management has secured Sh15 billion funding from South Korean investors for construction of the institution. (PHOTO: JOSEPH MUCHIRI/STANDARD)

The management of the nascent Kenya Anglican University has secured funding from South Korean investors for construction of the institution.

The university, which is owned by Anglican Church of Kenya (ACK) and is based at Kanyuambora in Embu County, will now be able to fast-track building of standard infrastructure and facilities to offer education of international standards.

The university education board members led by Embu Senator Lenny Kivuti and officials of ACK Diocese of Embu on Saturday met representatives of Global Capital Ventures, a Korean multinational, and launched formal negotiations towards the multi-billion funding.

Mr Kivuti said the Korean firm had agreed to finance the construction and once finished, the loan would be repaid in instalments from the income of the institution.

"We have partnered with the Koreans who will finance 100 per cent construction of the university. They will also be involved in funding other projects in Embu County and in the country," said Kivuti.

Architectural designs

Global Capital Venture CEO KJ Lee said once the architectural designs are out, the Korean firm was ready to give between Sh15 billion and Sh20 billion to the university.

She said the firm would work closely with Embu County for technology and knowledge transfer that would benefit the community.

"We are committed to fostering good relations with our partners and we will create quality infrastructure and facilities at the university. We are also working closely with the government for various public-private partnerships," she said.

In September 2014, the university installed Prof Godfrey Nguru as the vice-chancellor. It is now awaiting interim letter of authority from Commission for University Education to offer degree courses.

The university has been operating on limited infrastructure such as lecture halls, administration block and library.

The university was born after a commission of the ACK recommended the amalgamation of St Andrews Kabare and Berea Theological colleges, which are located in Kirinyaga and Nakuru respectively. The recommendation was adopted in 2009.