New Vice Chancellor of the University of Zambia Professor Luke Mumba has revealed that the university will soon create a new company to be called UNZA Holdings to be used for income generating activities.
Professor Mumba said UNZA Holdings will be tasked with identifying new and innovative ventures that will help the university to generate revenue.
Professor Mumba said the facility will provide accommodation for both undergraduate and post graduate students.
He said UNZA Holdings will invest in a 10,000 bed capacity students village complex at Liempe Farm along the Great East Road in Chongwe.
Professor Mumba said the student village complex which will be constructed at Liempe Farm whose land belongs to the University will also be generating 50 Megawatts of power.
He was speaking last evening when he featured on ZNBC’s Sunday Interview TV programme.
He said the student village complex will only be using 1 percent of the 50 MW to be generated from renewables and the rest of the power generated will be fed into the ZESCO main grid.
Professor Mumba said the energy sold to ZESCO will bring in 500,000 US dollars monthly into UNZA coffers.
He said UNZA Holdings will also turn the Marshlands Village opposite the Great East Road into a Hotel.
Professor Mumba said UNZA is also considering setting up a research fund that will spearhead research projects for the university.
He described the low UNZA ranking that the university currently suffers from is a scandal.
Professor Mumba revealed that the UNZA is now ranked outside the top 20 universities in the SADC region and around 2,673 in the world.