The University of Ghana Business School (UGBS) has relaunched its Endowment Fund and inducted a new Board of Trustees, reaffirming its commitment to securing the institution’s long-term financial sustainability while expanding opportunities for students, strengthening research and accelerating infrastructure development.
The event, held on Wednesday, July 15, in Accra, was under the theme “New Stewardship, Renewed Legacy” and brought together government officials, university management, alumni, corporate executives, faculty members and development partners.
Highlights of the ceremony included the relaunch of the UGBS Endowment Fund, the induction of the third Board of Trustees by His Lordship Justice Isaac Dotse (Retired), and the formal assumption of office by the newly constituted board chaired by Mr. Daniel Asiedu, Managing Director of OmniBSIC Bank.
New board sets ambitious agenda
Delivering his acceptance address, Mr. Daniel Asiedu described his appointment as both a privilege and a solemn responsibility, saying it offered him an opportunity to give back to the institution that shaped his professional journey.
“As a proud alumnus of UGBS, this appointment carries special significance. This is more than an appointment to serve. It is a privilege to give back to the institution that invested in my own growth and helped shape the leader that I have become.”
He expressed appreciation to the Dean, management and the UGBS community for the confidence reposed in the new Board of Trustees, pledging that members would discharge their mandate with commitment and purpose.
According to him, the board’s responsibility extends beyond managing the endowment fund to helping shape the next phase of the Business School’s growth.
“Our mandate is clear; not simply to manage an endowment, but to help shape the next chapter of UGBS.”
Mr. Asiedu announced that the board’s flagship vision is to mobilise resources towards the construction of a modern undergraduate academic facility befitting what he described as Africa’s premier business school.
“At the heart of that vision is a bold ambition; the construction of a modern undergraduate academic facility that reflects the quality, aspirations and global standing of Africa’s premier business school.”
He said the proposed facility would serve as a hub for innovation, entrepreneurship, leadership and transformational learning for generations of students.
Although fundraising efforts had progressed slower than anticipated, he noted that the infrastructure project presents a compelling cause capable of rallying alumni, corporate organisations, philanthropists and development partners.
Mr. Asiedu said the trustees would focus on preserving and growing the endowment through prudent investment while leveraging their networks to attract transformational support for the school’s strategic development agenda.
Government urges collective investment
Representing the Chief of Staff, Julius Debrah, Minister of State for Climate Change and Sustainability, Alhaji Baba Seidu Issifu, described the relaunch of the endowment fund as an important investment in future generations rather than merely an institutional milestone.
“The launch of the University of Ghana Business School Endowment Fund is more than an institutional milestone. It is a declaration that the future of this great school is too important to depend on only annual budgets or the goodwill of the moment. It is a commitment to generations of students who have not yet entered these classrooms, but whose potential deserves our investment today.”
The minister commended the outgoing Board Chair, Mrs. Frances Adu-Mante, for laying a solid foundation for the endowment fund and congratulated the incoming trustees on assuming office at what he described as a pivotal moment for the Business School.
He stressed that sustainable educational institutions could not be built by government alone.
“Lasting institutions are never built by government alone. They are built when governments, academia, businesses, alumni and citizens all accept responsibility for a shared future. That is exactly what an endowment represents.”
Alhaji Issifu said government continues to invest in education through initiatives including the no-fee stress policy, expanded support for students with disabilities, staff development and skills training, all aimed at widening access to quality education and preparing young people for a competitive economy.
He also underscored the importance of research in national development, referencing President John Mahama’s recent launch of the Ghana National Research Fund as evidence of government’s commitment to research and innovation, while urging universities, industry and philanthropists to complement those efforts.
He further urged the incoming trustees them to uphold transparency and accountability in managing the fund.
Dean rallies alumni support
Dean of the University of Ghana Business School, Prof. Ernest Tweneboah-Koduah, urged alumni to contribute generously to the Endowment Fund.
He said that sustained financial support would be essential to mobilising the resources needed to construct the proposed undergraduate academic facility, estimated to cost about US$10 million.
He noted that alumni contributions would not only improve teaching and learning infrastructure but also leave a lasting legacy for future generations of students.
New board inducted
The newly inaugurated board is led by Mr. Daniel Asiedu, Managing Director of OmniBSIC Bank, who serves as Chairperson, alongside Vice Chairperson Mr. Edward Prince Amoatia Younge, Executive Director of Targetlink Limited and Cypher Consult Limited.
They are joined by H.E. Major General Nicholas Peter Andoh (Rtd.), Ambassador to Türkiye as Member; Mr. Danquah Addo-Yobo, Country Manager of Newmont Ghana as Member; Mr. Paul Okyere, Assistant Director of Internal Audit at the Bank of Ghana; and Lady Naa Adorkor Codjoe, Board Member at Standard Chartered Bank Ghana PLC as Member.
Others are Richard Kwaku Awalime, Esq., Partner at Awalime, Brace and Sarpong as Member; Dr. Edward Entee, Lecturer at the University of Ghana Business School as Member; Mrs. Patricia Tay, Financial Accountant at the College of Humanities, University of Ghana as Member; Prof. Ernest Tweneboah-Koduah, Dean of the University of Ghana Business School as Member; Mr. David Okyere Nyarkoah, Head of Business Performance and Budgeting at Consolidated Bank Ghana Limited as Member; and Mr. Emmanuel Poku-Sarkodee, certified Chartered Administrator and Chartered Management Consultant as Member.
The event was sponsored by OmniBSIC Bank and supported by Awalime, Brace and Sarpong (Barristers and Solicitors), GoldCoast Developers, The Sikaman Times, and the UGBS Marcomms Unit.
