Economy showing significant signs of resilience - Prez Mahama
President John Mahama has stated that Ghana’s quest to build a resilient and diversified export-driven economy is on course.
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“Considering the headwinds the world economy is facing, Ghana’s economy is showing significant signs of resilience. The main indicators are pointing to the right direction and creating a better environment for business for competitiveness.
“The currency is stable, the fiscal deficit is dropping, inflation is slowing and due to the new public debt management strategy, our debt to Gross Domestic Product (GDP) ratio has declined significantly,” he added.
President Mahama said this when he addressed the eighth congregation of the University of Professional Studies, Accra (UPSA) last Saturday.
He stated that investments in the banking and financial sectors and industries such as the shoe and the sugar factories, vegetable oil processing plants, rice mills and other agro-processing factories indicated that the investment environment in Ghana was attractive.
Graduates
A total of 2,575 students who had fulfilled the eligible requirements graduated with masters and bachelor’s degrees, as well as diplomas.
The ceremony was used to bid the Vice Chancellor of the UPSA, Professor Joshua Alabi, farewell as he ends his tenure of office at the end of the year, after serving the university in his current position for eight years.
The university also conferred an honorary doctorate degree on the Chief Executive Officer (CEO) of Ovation Magazine, Chief Dele Momodu from Nigeria, in recognition of his outstanding contribution to national and international public life.
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Technical universities
President Mahama said the government considered education as an important instrument for the development of the people and the growth of the country, saying that “without it, this economy will not have the human resource needed”.
With regard to the conversion of the polytechnics to technical universities, he said the Technical University Bill was in Parliament for consideration and promulgation to provide the legal basis for the conversion process.
“The initiative is in response to the expected growth of our economy, the manpower requirements that our middle-income economy will require in the next several years and also the urgent need to ensure the training of well-qualified technical and practical-minded middle-level manpower,” he said.
Prof. Alabi commended
The President commended Prof. Alabi for his immense contribution towards the transformation of the UPSA within his tenure.
Describing him as a “change maker”, he said Prof. Alabi had led the university with distinction and his tenure had been a fulfilling one for placing the UPSA on a higher pedestal.
He commended the management of the school for the efficient use of its internally generated funds for infrastructure development, saying that “The story of the UPSA from its humble beginnings to a world-renowned university is a remarkable achievement.”
He also commended Chief Dele, whom he described as a great journalist and respected African personality.
Advising the graduates, the President urged them to look for opportunities in entrepreneurship and seek to be employers instead of employees, to create jobs for others.
In his address, the Chancellor of the UPSA, Drolor Bosso Adamtey I, described Prof. Alabi as a “remarkable trailblazer” who had achieved for the university what others only dreamt or talked about.
“In the shortest amount of time, you have accomplished, with the support of your dedicated team, what would have taken many years,” he said.
His achievements
Outlining some of his achievements during his tenure, Prof. Alabi mentioned the introduction of new academic programmes, new schools and centres of excellence and the growth in student enrolment from 4,111 in the 2008/2009 academic year to 11,709 in the 2015/2016 academic year.
“With the support of the University Council and my colleagues at the various levels of management, I have spent close to eight years pursuing these goals to the best of my ability,” he said.
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In addition, he said, the university had witnessed massive infrastructural development, including a new administration block, a lecture block complex, a students’ hostel, a library, sports facilities, an academic wing complex, roads, drains, parking lots and pavements.