BROKE UNZA SELLS FARM TO RAISE NAPSA CONTRIBUTIONS
UNIVERSITY of Zambia (UNZA) Vice-Chancellor yesterday announced that his university full of intellectuals was broke and had resorted to selling the University’s farmland called York Farm to raise money for NAPSA pension contributions.
Professor Luke Mumba, who was delivering his annual ‘State of the University’s speech at Chinese-constructed Confucius Institute within his campus which has it’s own Engineering Department said that UNZA was practically bankrupt with a debt of K44 billion owed to suppliers and retirees.
He further announced a complete freeze in employment at the University of Zambia in a bid to reduce the K800 million annual budget deficit caused by a ballooned workforce of 2200 workers who gobble up to 90% of the institution’s income and said he will reduce the workforce to 1000 but not replacing dying and retiring staff to what he called ‘natural attrition’.
The decorated intellectual also revealed that his management has obtained about K200 million kaloba from Banks to stay affloat despite receiving an advance of US$75,000,000.00 from developers of East Park Mall whose proceeds were used to rehabilitate UNZA Printer.
What are your thoughts, should UNZA professors be confined to the lecture room or they are doing well in managing the institution?
Credit:Kalemb