The Kwame Nkrumah University of Science and Technology (KNUST) has conferred an honorary doctor of letters on seasoned banker and entrepreneur, Mr Asare Akuffo.
Currently the Managing Director of HFC Bank Ltd, Mr Akuffo was honoured in recognition of his immense contributions to the banking and finance industry, his sterling public-spirited corporate activities, and the support he had garnered for university causes and higher education in general.
“Your impressive working experience and distinguished professional career as a banker and financial analyst have earned you national and international recognition and placed you in positions of high responsibility and duty within and outside of your specialisation,” a citation accompanying the honour stated.
It further said from his humble beginnings as a financial analyst at the ‘Dapit’ Project, investment manager at SSNIT, financial controller, financial director and deputy managing director, HFC Bank Ghana Limited, “you have risen since 2005 to become the Managing Director of HFC Bank Ghana Limited, a pioneer bank in the housing finance industry.”
During Mr Akuffo’s tenure as President of the Ghana Association of Bankers, he facilitated the establishment of the Banking and Finance Chair at the KNUST School of Business with an annual sponsorship of US$20,000 for research and development activities.
He also helped to create the Annual Business Plan competition for students of the KNUST School of Business.
The citation, read out at a special congregation on November 30, also stated that in spite of fears from other investors about commercial potential at KNUST, the HFC managing director took a personal and professional risk for the construction of the US$4 million Jubilee Shopping Mall at the university.
Mr Akuffo is a graduate of the University of Ghana, graduating with a BSc Administration (Accounting Option) degree, Chartered Accountant and member of the Institute of Chartered Accountants, Ghana.
The banker also holds a Certificate in Housing Finance from the University of Pennsylvania, USA.
He has held and continues to hold executive and non-executive positions in a number of public and private institutions, including HFC Investment Services Limited, the National Partnership for Children’s Trust, the Ghana Union Assurance Life Company, the Student Loan Trust, the African Union for Housing Finance, Ghana Interbank Payment and Settlement Systems Limited and KNUST Centre for Business Development.
He is the current President of the Private Enterprise Foundation, the umbrella body of businesses in Ghana.