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Namilyango College Old Boys Association (NACOBA) is to honour its fallen longtime Headmaster, Peregrine Kibuuka with the setting up of a UGX 1 billion endowment foundation.
This is as the College celebrates 121 years of existence this Sunday, 26th March 2023 at the College campus on Namilyango Hill, Seeta, Mukono District.
The Speaker of Parliament Rt. Hon Anita Annet Among will be the Chief Guest.
The endowment plan is a key pillar in the Namilyango College 10-year Strategic Plan (2023-2033) developed by the college and key stakeholders.
Namilyango College was founded on 23rd March 1902.
Mr. Kibuuka passed away in October 2021.
In an interview with CEO East Africa Magazine Fred Gyaviira Kyaka, a NACOBA President Emeritus, said that the Peregrine Kibuuka is to ensure the sustainability of the college’s various initiatives.
“NACOBA has for the last 10-15 years been mobilising old boys to support different college initiatives aimed at improving the living conditions of the students at the college as well as mobilising old boys for shared development. To this end, so much has been done to uplift the look and feel of the college, as well as the student’s welfare. Through these efforts, the dispensary and school dining were expanded, dormitories tiled, a new college gate built and the internal roads tarmacked, among other things,” Kyaka says.
“A NACOBA Savings and Credit Cooperative Organization (SACCO) for OBs was set up and has grown to assets of over UGX3 billion in the last 10 years, with a membership of about 400 members, health insurance packages developed for the OBs. We also set up a bursary foundation to support brilliant children from underprivileged backgrounds; those that miss weeks of school before the term begins and yet perform well, and many have been given a second chance at education. We however realized that it was largely the same old boys that contributed to every cause, and soon donor fatigue understandably crept in,” he further explains.
“NACOBA and the college board agreed to a sustainable idea of setting up an endowment foundation, similar to what the top universities have globally. A foundation named, “Peregrine Kibuuka Endowment Foundation” named after the previous Head Master Dr. Peregrine Kibuuka was registered last year and owned by both the college and NACOBA,” adds Mr. Kyaka.
Kyaka says the endowment foundation which will be launched this Sunday the 26th of March at Namilyango College, targets to “raise UGX1 billion which will be invested, and proceeds used to foundation the children and continue supporting other causes at the college”.
“I invite all the Namilyango College Old Boys, present and former parents of the school as well as all well-wishers to support generously towards this strategic cause,” appealed Kyaka.