Stellenbosch University gets R195m from the late Dirk Ackermann
Stellenbosch University has received a major financial injection of R195m which it will use to fund "deserving" students in the electronic and electrical engineering disciplines. The endowment, which is one of the largest individual donations ever made to the university, came in the form of a bequest by the late engineer, Dirk Ackermann. The donation dwarfs a R100m endowment made to the University of the Witwatersrand by an anonymous donor in 2014. Many universities in the country are under extreme financial pressure as a result of rising demand for tertiary education, which has not been matched by a sufficient increase in funding from the government. The no fee increase policy announced in 2015 also left many institutions in financial dire straits. The situation has forced universities to look at other ways of generating income. Total donations to Stellenbosch University in 2016 were up 53% from the previous year and also exceeded donations received in 2014. At the beginning of 201...
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