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The Royal Bank as part of its social responsibility to help improve the education sector has launched a flagship educational initiative that will practically shape undergraduates that read Banking and Finance in their respective university.

 The initiative dubbed “The Royal Banking and Finance Challenge 2017” will host sixteen tertiary institutions across the country.

The initiate which is put together by the Ghana Edufair Foundation will be an annual competition for undergraduate’s students to address the issue of or lack of financial literacy in Ghana and also the importance of having a financially literate society in achieving vibrant economic growth.

The sixteen universities to battle out are both private and public ie KNUST, UCC, GTUC, VVU, UG, CUC, Lancaster University GH,  Ashesi, UEW, UDS, Zenith College, GIMPA etc

The managing director and CEO of the Royal Bank Limited, Mr Osei Asafo Adjei speaking to the initiative said the Bank as an industry player believe the only way true potential students can be beneficial to the nation is when they assist bridge what he terms “Textbook-Fieldwork Gap”

He added that when this is achieved, businesses will be profitable and more graduates with practical experience from the tertiary institutions will be employed.

He suggested to the Education Ministry to draft flexible policies that will increase room for practicals than theories in order to have massive work force in the system.

The guest speaker for the occasion, Hon Awal Ibrahim, the minister for Business Development expressed his support for the challenge stressing that our tertiary education lack an opportunity to interface directly with the business world.

Outlining the ministry’s vision for the Ghanaian businesses, Hon Awal Ibrahim stated that every vibrant economy survives when the private business sector operates without challenges like high interest rate and taxes, hence his assurance to create an enabling environment for the sector to triumph.

By this assurance he advised that individual business entities join the umbrella associations such AGI, TUC, GUTA and others to make the ministries engagement easy.