Although a proposal to found a university in Makhanda had been made as early as 1902, financial problems caused by the
Frontier Wars in the Eastern Cape prevented the proposal from being implemented.<unk> Frontier Wars in the Eastern Cape prevented the proposal from being implemented.<unk> Frontier Wars in the Eastern Cape prevented the proposal from being implemented. 1904 Leander Starr Jameson issued £50,000 preferred stock to the university from the Rhodes Trust. With this funding Rhodes University College was founded by an act of parliament on 31 May 1904.