Egerton University opened its doors yesterday for the first time in over three months amid a worsening financial crisis at the institution.

The university, which was closed down on November 26, 2021, paralysing learning, saw the institution suspend 14 lecturers over their role in the strike.

Despite the ongoing strike, the university’s vice-chancellor Prof Isaac Kibwage said there was a need to reopen the institution as management strives to install financial sobriety.

Kibwage said the premier agricultural training institution is reeling in debts of over Sh6.1 billion, which he notes must be bailed out.

“As of September 2021, we had debts running to Sh6.1 billion and in turn, it is making it hard for us to smoothly run our operations,” said Prof Kibwage.

The VC revealed the Senate resolved to reopen the institution insisting it was the only way for it to make strides towards financial recovery.

“The University Senate met on Friday and resolved to reopen the University bearing in mind that some revenue streams can only be availed when learners are in school,” said Kibwage

It is believed that the university’s liabilities exceed the value of its assets, with the value of the assets is also said to be declining  The reopening yesterday saw thousands of learners troop back with the hope that learning would resume even as the lecturers remained adamant on resuming classes without full payment.

Kibwage, however, is confident that they will strike a deal to end the stalemate, saying students education is among the university’s top priorities.

“Some lecturers have shown a willingness to continue teaching as we seek to resolve this matter. We shall provide them with security to ensure learning resumes,” said Kibwage.

He further revealed that the institution had written to the Ministry of Education to provide short and long term solutions to the current crisis.

According to the VC, the university has a financial shortfall every month that needs to be addressed to allow smooth runnings.

“We requested Sh1.5 billion to help us right-size our staff. We have a monthly wage bill of Sh251 million yet we only receive Sh174 million. We always,” he said.

The lecturers through the University Academic Staff Union (UASU) leaders have however maintained that they would continue with their industrial action until their concerns are addressed.