110-Year-Old Cairo University Started With Capital Less Than 40,000 EGP

By: Mai Shaheen, Yassmine ElSayed

CAIRO, Jan. 6 (SEE) – “The Egyptian University.. Princess Fatima Bent Ismaiil.. Year 1332 Heijri”.. These words were engraved on the the founding stone of what is currently ‘Cairo University’. That stone was put underground with some of the then used currency as well as a number of the newspapers printed on that day, Monday, March 31st 1914, 4:30 pm, when the Princess documented her donation to the land upon which the university would be established. The document was co-signed by Khepe Abbas Helmy II and Prince Ahmed Fouad Pasha, honorary President of the university along with members of its board.

Financial Status of the project:

According to the university website, the financial status of the establishment project was based on donations, financial as well as farmlands endowments. Fundraising committees were collecting the rents of all those lands.

The total capital of the university amounted to EGP 37211 as of September 30, 1911. The amount was distributed as follows: 19825 pounds of IPO, 17002 pounds of endowed lands and 382 pounds of worth donated furniture.

The Finance Committee, at the time, had set the amount of 13,845 pounds obtained from cash donations until 1909 and considered it as a fixed capital that would only be used through their profits. Therefore, the expenses were taken from the annual endowments which amounted 5000 EGP on annual basis, rents of lands and student registration fees.

University’s inauguration

After a historical meeting by the board members of the university in December 5th, 1908, a document of the first raised fund was published and later Khepe Abbas Helmy II gave the green light to inaugurate it.

University’s expansion

The expansion of the project enforced the financial committee to adopt certain procedures to be able to fund the aspired expansion. For example, at the year 1910, the expenses was above 8545 EGP, where revenues were only 7201 EGP, therefore the salaries of the staff had to be reduced from 400 EGP to only 300. Also in this regard, the salaries of the European visiting professors were reduced from 100 EGP to only 50.

These procedures helped to increase the number of courses taught from 5 to 8, and the number of the students funded in their studying abroad from 11 to 18.

At that time, Crown Prince Ahmed Fouad did his best to form delegations to tour the country and raise fund but also he personally toured many European countries to get government assistance in the project.

First government subsidy to the university

The Egyptian government decided to grant the university an initial subsidy of 1000 EGP, which was included in the 1911 budget. As the number of students, foreign and national, and teachers continued to increase, expenses were constantly increasing.

Princess Fatima rushing to complete the university establishment

Princess Fatima, daughter of Khepe Ismaiil, announced that she will pay for all the construction costs which then amounted to 26,000 pounds. She offered some of her jewellery for sale, and donated some for the university to sell, which were eventually sold outside Egypt.

70 thousand pounds was the price of jewels

The university assigned Dr. Mohammed Alawi Pasha - the doctor of Princess Fatima - to sell the donated jewelry. He succeeded to sell them at the then highest price which was 70,000 pounds that helped so much in making the dream of the Egyptian university comes true.