The Royal Bank has launched the ‘The Royal Banking and Finance Challenge 2017’ for universities in Ghana to educate students on financial literacy and provide a platform for their contribution to grow the financial service sector.
Participating universities are University of Ghana, Kwame Nkrumah University of Science and Technology, University of Cape Coast, Central University College and Lancaster University, Ghana.
Others are Ashesi University, Ransford University College, Islamic University College, Wisconsin University, Institute of Professional Studies, Ghana Institute of Public Administration, Zenith College and Valley View University.
Mr Osei Asafo-Adjei, the Managing Director of The Royal Bank, said the Bank decided to support the event because it believed that an educated people made a better nation. He said the participating universities would brainstorm and bring on board ideas that would create opportunities for them in the business world.“In so doing, the Royal Bank is contributing its quota to the development of human capital in the country,” he said.
Mr Asafo-Adjei said management was interested in supporting capacity development in the country’s tertiary institutions especially when it would directly benefit university graduates. He said to encourage industry to bridge the gap between text and fieldwork, government must implement policies that would help reduce the tax burden and also decrease considerably the high operational cost of doing business.
He, therefore, called on government to reduce the high cost of doing business and eliminate the bottleneck bedeviling the financial and banking sector. Mr Ibrahim Mohammed Awal, the Minister of Business Development, said as part of the ministry’s mandate, the minister wanted to equip the youth with entrepreneurial skills before the youth graduated from school to become job owners and not job seekers.The Minister said when this was done the graduates could expand the frontiers of business and employ more people to develop the economy.
He said government was committed to improving the business climates of the country to ease business operations and commended the organisers of the programme, the Edufair Ghana Foundation, for the initiative. Ms Ewura-Esi Enyimayew, the Executive Director of Edufair Ghana Foundation, said the platform would encourage our universities to modify their curricula in terms of training for Banking and Finance to meet the expectations of industry.
Prizes to be awarded include an internship opportunity with sponsors and partners, laptops, investment packages, certificates and a trophy.