A financial technology firm, Kora, has established an endowment fund worth N200m to cushion financial constraint of undergraduates at Covenant University.
The firm’s CEO, Dickson Nsofor, in a statement announced this, saying the endowment fund would exist for a decade describing it as an investment in students’ educational progress.
“The Kora Endowment Fund, which is ₦200 million over the next 10 years, is an investment that emphasizes Kora’s dedication to empowering students and fostering educational excellence for the purpose of building a greater future at scale in Africa.
“This initiative aims to provide financial assistance to deserving students, ensuring they can complete their higher education without financial constraints,” he said.
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He added that the fund would repose confidence in students to complete their education, regardless of their financial background and enable them to develop into high-growth and valued talents in the workforce and business landscape.
“The fund is designed to create a lasting impact by providing financial relief directly to assist students struggling to cover tuition fees.
“We are excited to make this endowment at Covenant University given that it reflects our commitment to empowering young people and fostering a future where education is accessible to those deserving, regardless of financial barriers.
“We believe investing in education is essential to unlocking opportunities for all as well as creating a brighter future,” he said.
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