The University of East London has welcomed its new chancellor, Shabir Randeree, into the post with an inauguration ceremony.

The entrepreneur and philanthropist was formally installed as the university’s third chancellor, succeeding Lord Noon, who was appointed in 2013 and served until his death last year.

Mr Randeree, who came to the UK from South Africa aged 15, said: “It is a huge honour and privilege to serve as chancellor of the University of East London.

“It is a richly diverse university, with more than 120 different nationalities represented on campus, and I very much look forward to being part of such a vibrant educational community.

“UEL’s mission to extend access to higher education mirrors my own personal journey.

“I’m looking forward to being an ambassador for UEL and its values and also getting involved in expanding entrepreneurship at the university.”

Mr Randeree was made a CBE in 2013 in recognition of his services to both business and education, and for his philanthropic support of charitable causes.

Other positions he holds includes chairman of manufacturing and engineering company DCD Group, membership of the Princes Trust Council and chair of governors at Westminster Academy.

Among the 250 guests attending last night’s ceremony at the university’s Stratford campus was the Mayor of London, Sadiq Khan, and Mark Stephens, chair of UEL’s board of governors.

Mr Stephens said: “I am thrilled and delighted that Shabir is to become our new chancellor. He shares the values and life experience of many of our students.”