Kenya's business and finance specialised institution, Strathmore University, has officially received its university status after more than six years of operating on an interim license, widening the training network for economists.

Kenyan President Mwai Kibaki officially awarded Strathmore University the charter last Wednesday (23), marking the conclusion of an event that started in 2002 when the Christian college was awarded an interim license to provide degrees.

Strathmore was founded in 1961 by members of the celibate branch of the Catholic Church but was transformed into a university college in 2002 with the award of the interim charter awaiting parliamentary approval for its University status.

The University provides training and degrees in accounting, economy and finance, information technology (IT) and computer sciences. Speaking during the award of the charter, Kibaki praised the university for its efforts to improve the higher education chances in Kenya.

"Strathmore has supplemented government efforts in providing higher education. It has helped to provide the country with top managers for our financial institutions," Kibaki noted. Prime Minister Raila Odinga said Kenya needed more technical staff to bolster its efforts to develop to a middle-income country status.