FirstBank Ghana supports CSIR to drive innovative business solutions

FirstBank Ghana has donated GH₵50,000 to the Council for Scientific and Industrial Research (CSIR) to support the institution’s quest to help identify and support high-impact research projects and technological innovations with the potential to drive industrial growth to spur sustainable economic development.

Under a programme dubbed, Science for Impact Fund, the endowment fund launched early this year by the Council aims to raise $20 million within the next five years.

This would help identify and support high-impact research projects and technological innovations that have the potential to drive industrial growth to spur sustainable economic development. 

Endowment fund

The Executive Direc­tor of the FirstBank Ghana, Semiu Lamidi, said the bank’s participation in supporting CSIR’s endowment fund reflects its commitment to corpo­rate social responsibility and sustain­able development.

He said by investing in scientific research, the bank was not only contributing to the advancement of knowledge but also playing a crucial role in fostering economic development and social progress.

He said to increase the impact of research conducted by the Council, there was the need for corporate institutions to collaborate to translate research into practical solutions that drive economic growth and development.

According to him, the bank was moved to support the CSIR Science for Impact Fund because the fund’s objectives aligned with the bank’s mission to maximise shareholder value through sustainable growth, superior customer service and innovation.

“We appeal to corporate institutions and individuals to support CSIR. We believe if we can transfer their research into practice, the economy will change, especially in the SME sector,” Mr Lamidi said.

Scientific excellence 

The Director General for CSIR, Professor Paul Bosu, commended the bank for the gesture, adding that “this partnership exemplifies the power of collaboration between the financial sector and scientific institu­tions, ultimately driving progress and improving the lives of citizens.”

He said with support, CSIR was poised to undertake ambitious research projects that could lead to significant breakthroughs.
“This collaboration will at­tract top tier researchers and scientists, and enhance the country’s reputa­tion as a hub of scientific excellence,” he added.