The University of Douala, or rather Université de Douala (UDla), has been granted a loan of close to US$ 3.8M by the United Bank for Africa (UBA), a leading pan-African financial services institution to finance the construction and equipping of a proposed ultra-modern professional training complex in the university dubbed Ngando Mpondo complex.
The loan was granted following an agreement signed by Jude Anele, the Managing Director of UBA Cameroon, and Prof. Magloire Ondoa, the Vice-Chancellor of the University of Douala.
Prof Ondoa thanked UBA bank for accepting to give out such a loan and explained that the loan will be repaid within one year with an 8% interest rate, which “is the best so far”. He also said that financial contracts have been signed with companies and industries that will be involved in the realization of the project adding that “everything has been put in place for the project to begin”.
An overview of the Ngando Mpondo complex
The three buildings Ngando Mpondo complex will be constructed on a 6 hectares piece of land. It will include amphitheaters, classrooms, and other University structures that will make teaching and learning conducive for both lecturers and students.
It is worth mentioning that currently the University of Douala has old and dilapidating buildings, with some obsolete equipment that are no longer in use, and crowded amphitheaters and classrooms that are not comfortable for the learning process.
The new Ngando Mpondo complex will be delivered in November this year after approximately five months of construction.