A 3.4 billion-cedi hostel built under the Ghana University Superannuation Scheme (GUSS) for the Kwame Nkrumah University of Science and Technology (KNUST), Kumasi has been completed.

Sixty of the 200-rooms have been allocated for foreign students while about 800 applications have been received from students, who are expected to pay two million cedis each an academic year. Work on the hostel built with the pension fund of the senior members of staff of KNUST, began about six months ago.

This was announced by Professor Ebenezer Y. Safo, Pro-Vice Chancellor, at the launching and inauguration of an eight-member Board of Trustees for a development fund established by the Students Representative Council (SRC) in Kumasi. The fund, which has a target of about 3.4 billion cedis, was established to offer a sustainable resource base to undertake projects including a hostel, to accommodate 1,000 students, a computer pool and an internet centre with about 50 computers. It would also be used for a Photocopier and Binding Unit, FM station and to purchase a bus to transport students to and from residence to lectures.

Fresh students are expected to pay 40,000 cedis and continuing students 20,000 cedis as seed money for the fund. Professor Safo said the idea to establish the fund is noble and gratifying adding, "it is commendable" to follow the example the Lecturers and Administrators to help solve the accommodation problems of KNUST.

The Pro-Vice Chancellor asked the SRC to reconsider collaborating with the Alumni to put up the hostel since they have also taken the initiative at their recent Annual National Congress to construct a Golden Jubilee hostel.