Vice Chancellor encourages Financial institutions to provide models for businesses

By
Iddi Yire, GNA

Accra, April 18, GNA –
Professor Abednego Feehi Okoe Amartey, Vice-Chancellor, University of
Professional Studies, Accra (UPSA) has urged financial institutions to provide
innovative financing models for new start-up businesses and existing
businesses.

He said the role of
banks and non-bank financial institutions should not be influenced by
discriminatory policies, which might prevent otherwise potential business from
taking advantage of the opportunity.

Prof Amartey said this
in his remarks at the fifth International Conference on Business
Entrepreneurial and Development (ICBMED), hosted by UPSA.

The two-day conference
on the theme: “Growing Businesses through Secure and Sustainable Financing”,
would witness sessions including; banking, accounting, and finance practices
and business growth, small and medium enterprises (SMEs) and entrepreneurship
development.

Others are;
information systems, knowledge management and e-business; marketing, consumer
behaviour, ethic and social responsibility; human resources management and
industrial relations; and environment, tourism and socio-cultural practices.

Prof Amartey said in
that regard, banking institutions had a critical role to play in providing
sustainable finance to viable businesses that could pay back their loans on
time and impact society meaningfully.

He said that that
would create a “sustainability chain” in the ecosystem through a multiplier
effect, which grew banks, businesses and society in general.

He recounted that
thematic areas that were presented and discussed at previous editions included;
business management, entrepreneurship development, finance, accounting,
psychology, marketing, information and communication technology,
communications, law and public administration.

Prof Amartey said
being mindful of reforms in the banking sector, a pertinent thematic session
dubbed: “Banking Crisis and Business Growth” was added.

He was hopeful that
the ICBMED 2019 would find answers to how businesses could access safe,
reliable and continuous finance for their operations and growth against the
backdrop of the collapse of some microfinance institutions and bank ‘failures’
in Ghana.

Prof Charles Barnor,
Pro-Vice Chancellor, UPSA, said with regards to this year’s conference 126
abstracts were received, of which 82 were accepted for presentation in 14
sessions.

He pointed out that
submissions were received from UPSA, University of Ghana, the Ghana Institute
of Management and Public Administration (GIMPA), University of Cape Coast
(UCC), University of Education, Winneba (UEW), Kwame Nkrumah University of
Science and Technology (KNUST) and other private universities.

Prof Barnor, who is
also the Chair of the ICBMED Editorial Committee, said they received
submissions from South Africa, Cameroon, Malaysia and Nigeria, adding that
“criteria for reviewing the abstract include, the relevance of the topic,
robust and informative methodology, key findings and contribution to knowledge”.

Dr Augustine Awuah
Peprah, Coordinator for Research and Conferences at UPSA, in an interview with
the Ghana News Agency noted that ICBMED would bring together researchers and
players in the industry, to share ideas by presenting papers based on a
particular theme.

He said that over the
years, the banking industry experienced lots of difficulties, and as such, the
conference was solely aimed at how in the midst of these financial challenges,
how could businesses sustain.

 “As an academic institution we have a role to
play, that is through research and by that we are able to bring to the table
what business needs are and how the financial sector can support”, he added.

GNA

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