Outgoing Vice-chancellor of the Kwame Nkrumah University of Science and Technology (KNUST), Professor William Otoo Ellis is warning quality higher education could be compromised if funding to tertiary institutions is not improved.

Addressing a cross section of former students of KNUST at a programme to launch a foundation which will act as a mechanism to attract private funding to run the university, Professor Ellis who is due to step down as vice chancellor said public universities must devise innovative ways to find their own funds independent of government.

He said higher education in Ghana has suffered a myriad of challenges including accessibility, affordability, low faculty to student ratio, inadequate infrastructure and funding which are due to the unstable macroeconomic conditions in the country. 

"However, the diminishing financial resources and the growing demands for participation remains one of the biggest threat to quality higher education in Ghana," Professor Ellis said. 

"Several propositions have been made to solve this problem and one of them is setting up a foundation due to the increasing challenge of insufficient state funding to the tertiary sector," he added.

The foundation with a seed money of ¢1 million is been spearheaded by Alumni of the university. Their task is to ensure they generate money to help the university meet its running cost and also offer financial assistance to needy but brilliant students. 

Professor William Otoo Ellis' tenure ends in July 2016 and he will be succeeded by Professor Kwasi Obiri-Danso.