The Mission is "to provide for, support, guide, coordinate, regulate and promote quality education and research to all persons in Kenya for national integration, individual and national development". The Vision for the University Education is "Quality Education For All"
I think it varies by school mission to some degree. There is a great deal of debate about it in the USA right now. We see groups like the following struggling with that question at the university level:
Liberal Education and America’s Promise (LEAP)
Multi-State Collaborative to Advance Learning Outcome Assessment (MSC)
The Degree Qualifications Profile (DQP)
Interstate Passport Initiative (Passport)
Guided Pathways to Success (GPS)
Degree Granting Institution Registration, State of Minnesota
In my mind the original remit was to create knowledge and encourage students to learn how to 'think'.
However, it appears there is an increasing drive from large corporations via various governing bodies to produce graduates who will fulfil specific roles - nothing more, nothing less.
Preserving, consolidating, and extending the frontiers of knowledge. It is an institutional treasure of the historical knowledge, an application framework, and a continuous process of the creation and dissemination of the new knowledge.