Wits vice-chancellor and principal, Prof. Adam Habib, said the university was “honoured and deeply appreciative” of Mandela’s remembrance of the institution.
“Wits accepts this generous bequest from one of our most illustrious alumni, and commits to using it to address the development of higher education in South Africa,” he said.
The bequest will be used for the benefit of the university and its students, and to “advance and perpetuate the values that our inaugural President… bequeathed to our nation and the world”.
Habib added that Mandela emphasised the need to address inequality, and described it as “one of the greatest threats to our young democracy”.
“Wits is determined to utilise this endowment to tackle this societal peril without delay, through the provision of additional scholarships for our students,” he said.
“We understand that this endowment brings with it a tremendous responsibility, given the character and legacy of our great leader and his commitment to the transformative power of education. Thank you, Tata, for remembering us in your will. You live on in our memory and in our lives.”