R100m donation to Wits
- By Deborah Minors
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Wits University announced on 20 October 2014 that it is the recipient of a R100m donation. The individual donor is a long-term friend of the University and has requested anonymity. R10m of the donation is for the Wits Arts Museum and the remaining R90m will be deployed to advance research and/or teaching, as prioritised by the University. “We are grateful for philanthropists who support not only Wits but civil society in general,” says Wits Alumni Relations Director, Peter Maher. “We need more donations like these because philanthropy on this scale has the potential to advance the public good, and ensure Wits remains internationally competitive.” The University’s Century Campaign provides such an opportunity for alumni to advance their alma mater. “Universities obtain their funding via three income streams – state subsidy, student fees and third stream income,” explains Vice-Chancellor and Principal,Adam Habib. “However, given the current realities, higher education institutions, and particularly research-intensive universities, are increasingly looking towards third stream income in order to run top-notch universities.” Wits University has an annual turnover of about R4b. |
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