The University of Ghana Business School (UGBS), has commemorated its 38th Management Day with a lecture on Finance and Insurance for Inclusive National Development at the R.S Amegashie Auditorium on Wednesday 5th April, 2017. This year’s management day is celebrated under the theme: Finance and Insurance for Inclusive National Development. The 38th management day, among others, brought together industry captains and stakeholders to deliberate on the bottlenecks and opportunities of the finance and insurance sectors as catalyst for inclusive national development.
Professor Joshua Yindenaba Abor, Dean of UGBS, in his welcome address reiterated the vision of the business school to become a world class school, training global leaders and quality human resource. He noted that the UGBS continues to make remarkable progress in international engagements and accreditation, including infrastructural development. He added that the school’s curriculum continues to go through innovative reviews to deliver courses relevant to the exigencies of postmodern society. He stated that the management day celebration serves a purpose of bridging and fostering a harmonised relationship between industry and academics.
Mr. Ekow Afedzie, Deputy Managing Director of the Ghana Stock Exchange and chairman for the occasion in his acceptance remarks, noted that the theme for the celebration is of immense relevance to the current economic situation of Ghana. He stated that finance and insurance are critical areas which must build capacity to facilitate inclusion for national development.
The Special Guest of Honour, Professor Ebenezer Oduro Owusu, Vice Chancellor of the University of Ghana, in a brief remark underscored the necessity for business schools especially the UGBS, to churn out graduates who will be job creators rather than job seekers. He commended the UGBS for their unwavering resolve to make learning and teaching practical through academic industry engagements.
Dr. Kwabena Duffour, former Governor, Bank of Ghana/Former Minister of Finance, the keynote speaker, expressed his gratitude to the UGBS for their continual efforts to contribute to national development. He added that the business school through industry-academics engagements in research have immensely shaped the national development agenda. He encouraged financial and insurance institutions to map up strategies to absorb the huge number of the Ghanaian population out of these systems. A comprehensive national development will remain unachieved without rural inclusion, he added.
Further, Dr. Duffour asserted that delivering financial and insurance access to the rural folk will be a major step towards Ghana’s poverty reduction efforts. He urged financial and insurance institutions to use the advantage of technology to develop models that enthral the majority of rural populace into the financial system. He challenged institutions in the finance and Insurance sectors to adopt a collaborative approach to enhanced financial and insurance inclusion. He stated that several researches have demonstrated that 60% of rural folk do not receive or subscribe to any financial services. He noted with regret that financial institutions have continue to cluster at urban centres which does not help in bridging the poverty gap. The Former Minister of Finance identified lack of trust for the financial and insurance institutions, lack of financial and insurance education and digital literacy, unwillingness of parties to share data among others, as some of the factors that inhibit Ghana’s quest to ensure inclusive development.
In attendance also was Dr. Frank Adu Jr., Managing Director, Cal Bank who spoke on “Financing Ghana’s Development from within: The Issues, Prospects and Challenges”.
Mr Michael Kofi Andoh, Head of Supervision, National Insurance Commission (NIC), on behalf of Ms. Lydia Bawa, Commissioner, NIC, presented a lecture on the theme: Financial Inclusion in Ghana: The Role of Insurance.
A good will message from the headline sponsor was read by Mr. Johnson Olakumi on behalf of Mrs. Abiola Bawuah, Managing Director/CEO, UBA Ghana. Mr. Olakumi reaffirmed UBA’s commitments to groom young entrepreneurs.
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