University of Gold Coast, ICAG seal deal to boost finance education

The University of Gold Coast has signed a Memorandum of Understanding with the Institute of Chartered Accountants Ghana in a move aimed at strengthening finance education, expanding professional development and improving financial literacy in Ghana.

The agreement, formalised at a ceremony attended by senior officials from both institutions, is expected to deepen collaboration in postgraduate training, professional certification and executive education. Among those present were the Chancellor of the University of Gold Coast, Bishop Dr Gideon Titi-Ofei, and the Chief Executive Officer of ICAG, Dr Eric Oduro Osae.

Speaking at the signing, Bishop Dr Titi-Ofei described the MoU as a strategic step towards building a comprehensive and long-term partnership rather than a limited academic arrangement. He said the university’s MSc Accounting and Finance programme, which has been running for four years, would be more closely aligned with ICAG’s professional standards to better equip students for the Institute’s examinations.

“We look forward to working with your experts during the next re-accreditation of our master’s programme to review the content and ensure it aligns with your professional requirements. Our goal is to adequately prepare our students to write your exams and excel,” he said.

He noted that the university had undergone several institutional and programme re-accreditations, demonstrating its commitment to national regulatory standards. He also referenced earlier mentorship support from the Kwame Nkrumah University of Science and Technology, which he said strengthened the university’s academic governance during its formative years.

Bishop Dr Titi-Ofei emphasised that the partnership was envisioned as a “360-degree partnership,” encompassing postgraduate studies, structured pathways towards professional certification and executive education for senior corporate leaders. He added that the university’s facilities could potentially serve as an ICAG examination centre, improving access for candidates in the region.

For his part, Dr Oduro Osae said the collaboration reflected ICAG’s broader commitment to enhancing financial literacy and building human capital across the country. He stressed that the agreement was intended to evolve beyond the formal document, fostering practical understanding of finance in both corporate and community settings.

“Many individuals serve on boards and committees but feel intimidated by financial statements because they believe finance is too technical. With this collaboration, we aim to demystify finance and make it accessible to everyone,” he said.

He argued that financial literacy is essential not only for corporate governance but also for households and community organisations. According to him, many societal challenges can be traced to the neglect of basic financial principles, and equipping citizens with practical financial knowledge is critical to addressing those gaps.

Both institutions expressed optimism that the partnership would raise professional standards, broaden opportunities for practical training and create clearer progression routes for students pursuing careers in accounting and finance. They said the initiative ultimately seeks to contribute to the development of a skilled and financially literate workforce capable of supporting Ghana’s economic growth.