On March 14, 2022, Professor Samuel Kwaku Bonsu, Rector of the Ghana Institute of Management and Public Administration (GIMPA), announced that the institute will launch an Endowment Fund on March 31, 2022, aiming to raise one billion cedis as seed capital, per. The fund is designed to support student scholarships and elevate GIMPA’s infrastructure to global standards, ensuring the institute maintains its reputation as a pacesetter in tertiary education, per. The announcement was made during a meeting with industry leaders in Accra, focused on fostering partnerships for mutual benefit, per.
Objectives of the Endowment Fund
The primary goal of the Endowment Fund is to provide financial support for brilliant but financially disadvantaged students. “As we know, there are many people across this country who are brilliant and have passed their university entrance exams with flying colors, but they cannot attend school for lack of funds,” Prof. Bonsu stated, per. He emphasized that the fund aims to make “top flight” undergraduate education at GIMPA free for such students, addressing barriers to access for talented youth, per. Additionally, the fund will finance infrastructure upgrades to align GIMPA with global educational standards, per.
Reforming Pedagogy and Industry Engagement
Prof. Bonsu outlined GIMPA’s vision to reform its teaching methods, shifting toward case studies, simulations, and industrial practice to keep pace with global education trends, per. “GIMPA’s vision… was to maintain its pacesetter reputation by engaging captains of industry,” he said, noting that the meeting with industry leaders aimed to develop a new agenda for tertiary education in Ghana, per. This approach seeks to produce graduates equipped for modern workforce demands, enhancing GIMPA’s relevance in a competitive educational landscape.
GIMPA’s Self-Financing Model
As a public institution, GIMPA operates without government subvention, relying entirely on self-generated revenue, per. “Although GIMPA is a public institution, it is self-financing,” Prof. Bonsu explained, highlighting the institute’s financial independence, per. This model underscores the need for initiatives like the Endowment Fund to sustain and expand GIMPA’s operations, particularly in supporting students and upgrading facilities, per. In 2021, GIMPA enrolled over 10,000 students across its programs, per, reflecting its significant role in Ghana’s higher education sector.
Broader Impact and Context
The Endowment Fund aligns with Ghana’s broader educational goals to improve access and quality, especially for underserved populations. By targeting brilliant but needy students, GIMPA aims to bridge the gap for the estimated 30% of qualified students unable to afford tertiary education in Ghana, per 2021 Ministry of Education data. The infrastructure upgrades will enhance GIMPA’s capacity to deliver world-class training in management and public administration, supporting Ghana’s development agenda. The March 31 launch is a critical step toward securing sustainable funding for these goals in 2022.
