Prof. Ernest Aryeetey (left), Vice Chancellor of University of Ghana, unveiling the plaque. Assisting him are Mr Stephen Sekyere Abankwa (2nd left), MD of Prudential Bank. Applauding is Mr Felix Nyarkopong (2nd right), CEO of Unibank, and Prof. Samuel Agyei-Mensah (right), Provost of School of Humanities. PICTURES: MAXWELL OCLOO

University of Ghana inaugurates banking square

Yakubu Abdul-Jalil Business News Jul - 25 - 2016 , 12:04

The University of Ghana has inaugurated a banking square to serve as a financial hub for the university community.

For a start, the facility will house seven commercial banks; namely HFC, Stanbic, uniBank, Access, Prudential, Universal Merchant Bank and Cal Bank.

The banks are expected to serve more than 60,000 individuals, including students, staff and private business operators.

Even though the university management could not provide the total cost for the square, it maintained that the project was pre-financed by the banks.

Centralise banks

At the inauguration ceremony in Accra on Thursday, the Vice Chancellor of the university, Prof. Ernest Aryeetey, said the initiative was to centralise the activities of banks on campus.

According to him, banks with physical structures on campus were scattered around, hence the idea of a banking square.

“The initiative is to have uniformity in commercial banking services on the campus of the university,” he said, and added that “banking requires institutions that can share common services; there is no point in providing the services to different institutions that are pursuing the same objectives”.

Prof. Aryeetey also said the university was working to respond to the growing need for banking services by the university community.