Digital payment company Kora has signed a Memorandum of Understanding with Covenant University to establish a ₦200 million endowment fund aimed at supporting students in need.

The MoU, signed by Kora CEO Dickson Nsofor and Covenant University Vice Chancellor Abiodun Adebayo, was announced on Saturday.

The fund, set to be disbursed over the next decade, will provide financial assistance for tuition and promote access to education for students from diverse financial backgrounds. Kora stated that the initiative aligns with its mission to empower young people and foster long-term personal and professional growth.

Nsofor expressed enthusiasm about the partnership, emphasizing the importance of education in creating opportunities and building a brighter future. Covenant University, located in Ota, Ogun State, is renowned as one of Nigeria’s leading institutions for developing future African leaders.