The School of Business at the University for Development Studies (UDS) held a thought-provoking public lecture on November 29, 2023, at the Dr. Andani Andan Chamber. The event, which combined in-person and virtual participation, drew a distinguished audience of academics, policymakers, students, and industry leaders from across Ghana and beyond.

With the theme, “Shaping Africa’s Development Finance Landscape: Challenges and Prospects,” the lecture served as a platform to delve into the transformative role of Development Finance Institutions (DFIs) in addressing Africa’s economic and social challenges. The gathering underscored UDS’s growing reputation as a hub for academic and policy discourse on issues of national and continental importance.

A Distinguished Gathering of Minds

The event was officially opened by the Pro-Vice-Chancellor of UDS, Prof. Elliot Haruna Alhassan, who represented the Vice-Chancellor. In his remarks, Prof. Alhassan expressed pride in the School of Business for spearheading such timely discussions, emphasizing UDS’s commitment to contributing to Africa’s sustainable development.

Key figures in attendance included Deans, Directors, faculty members, and students from UDS and other institutions, reflecting the broad appeal of the lecture's theme.

Keynote Address by an Icon in Development Finance

The highlight of the event was the keynote address by Dr. George Agyekum Donkor, a highly respected figure in development finance and the President and Chairman of the Board of Directors at the ECOWAS Bank for Investment and Development (EBID). Drawing on nearly three decades of experience, Dr. Donkor provided a compelling analysis of DFIs’ pivotal role in Africa’s development trajectory.

“Development Finance Institutions are the backbone of Africa’s socio-economic progress, bridging the gap between available capital and developmental needs,” Dr. Donkor remarked. He highlighted the significant impact of DFIs in areas such as infrastructure development, financial inclusion, climate finance, and counter-cyclical funding.

However, he did not shy away from addressing the challenges DFIs face, including political interference, inadequate risk management, and the absence of robust performance evaluation frameworks. “While DFIs hold great potential, overcoming these barriers is essential to unlocking their full capacity to transform Africa’s future,” he stressed.

Dr. Donkor’s insights were enriched by his wealth of experience and accolades, including the 2023 Development Champion Award and the 2023 CEO of the Year–Africa Award. His contributions to fostering regional integration and organizational transformation resonated deeply with the audience.

A Testament to Collaboration Between Academia and Industry

Dr. Donkor’s association with academia, including his role as a Council Member of the University of Ghana and an adjunct lecturer at UDS, underscores his commitment to nurturing the next generation of development finance leaders. His involvement in the lecture exemplified the critical link between academic institutions and financial bodies in solving Africa’s pressing challenges.

A Legacy of Excellence: UDS School of Business

In his address, the Dean of the School of Business, Prof. Ibrahim Osman, reflected on the institution’s journey of growth and impact. He credited much of the school’s success to the guidance of prominent figures like Prof. Joshua Abor, former Dean of the University of Ghana Business School, whom he described as a “colossus in the field of finance education and research.”

Prof. Osman emphasized that UDS stands out as the only institution in West Africa offering comprehensive graduate programs in Development Finance. “This unique position comes with the responsibility of ensuring our programs not only uphold academic excellence but also address the practical needs of the continent,” he said.

UDS: A Hub for Policy and Thought Leadership

The public lecture was yet another milestone in UDS’s mission to contribute meaningfully to national and continental development through education and research. By fostering platforms for high-level dialogue, the School of Business continues to position itself as a leader in shaping Africa’s economic future.

“We believe that conversations like this are the seeds of innovation and progress for Africa,” Prof. Osman concluded, expressing optimism about the future of development finance on the continent.

The event served as a powerful reminder of the transformative role academia and industry collaboration can play in addressing Africa’s challenges and harnessing its immense potential.

Story by: Abdul-Hamid Hamdia Maya (UDS Media)