UPSA steps up efforts to bridge industry-academia gap
The University of Professional Studies, Accra (UPSA) continues to look for ways to bridge the widening gap between industry and academia, as it prepares its graduates for the job market.
The university has subsequently introduced a BSc Actuarial Science programme, which intends to train its graduates to be able to handle the risk associated with insurance in the country.
The programme, which was inaugurated on September 27, according to the Dean, Faculty of Accounting and Finance, Dr Charles Barnor, is expected to build the capacity of students as far as the insurance industry was concerned and to also manage other financial risks.
In a speech read on his behalf, he said an initial assessment of the risk and insurance sector in Ghana revealed low level of knowledge of risk management and insurance among the populace. There are also inadequate personnel with risk management and insurance expertise.
He explained that, against that background, a required market survey was undertaken and in consonance with UPSA Act, Act 850 of 2012, as well as in collaboration with some professional institutions in Ghana and abroad, it was identified that there was indeed a demand for BSc Actuarial Science programme, hence the introduction and subsequent inauguration.
He said the programme was developed after constant engagement with industry players and, therefore, moves to bridge the gap with industry were advancing.
The programme
The BSc Actuarial Science programme has been developed to train needed expertise to forecast future risk and related issues and also bridge the gap between theory and the practice of insurance and risk management.
The programme also fits well into the national agenda of mitigating risk associated with life, investment and business in the country by establishing institutions related to risk and insurance such as the National Insurance Company Limited and promulgating the Insurance Act, Act 724 of 2006.
It is also expected to train graduates who will be competent to provide policy direction and advice for decision making regarding risk and insurance for individuals, businesses and government.
The employment opportunities for graduates of this programme are very high and bright. Graduates of the programme are expected to be placed in financial careers such as banking and finance. They will also secure careers in the field of Actuarial Science, Risk and Insurance Management, Pensions Administration, health and insurance administration and other related fields.
Seven students have gained admission to pursue the course and they will constitute the first batch of undergraduates to earn a BSc in Actuarial Science from the UPSA.
UPSA, a professional institute
The Vice- Chancellor of the UPSA, Professor Joshua Alabi, said the university was a professional institution and not for research as was being speculated, adding that the yardstick for managing a research university was different from a professional one.
He also urged the students to be proud of the institution as it continued to develop tailored programmes to meet the needs of industry and to prepare them for the job market.