It, however, maintained that the claims were false and that Prof. Aryeetey “was referring to an agreement that is not known to the University.”

[contextly_sidebar id=”asUPePZJlNlqMnrFu4OvI2nurQGIAHdX”]The University explained in a statement that the “agreement that Professor Aryeetey signed on behalf of the University contains a confidentiality clause that precludes the university from putting its contents into the public domain. The University is thus unable to respond to the false claims of the former Vice-Chancellor.”

In 2015, the University entered into a Public Private Partnership (PPP) agreement with Africa Integras to invest $64 million in the construction of 1,000 new students’ hostel beds for undergraduate and post-graduate students on the Legon campus.

Reports by The Chronicle and The Informer Newspapers raised questions about the deal saying it was signed without any due diligence from the Univesity, then under Prof. Aryeetey.

However, Prof. Aryeetey insisted that the processes leading up to the signing of the agreement with Integras were transparent, with all relevant stakeholders involved.

He rubbished the claims made against him and said the current management of the University had failed to continue the said project.

But in a statement, the university expressed disappointment at “misstatements of facts made by Professor Aryeetey in his public statements.”

“The University of Ghana would like to dissociate itself from the contents of any publication contained in some print media concerning Professor Ernest Aryeetey. The University, neither by itself nor through a third party, authorized the publication of any such matters,” the statement added.

–

By: Delali Adogla-Bessa/citifmonline.com/Ghana

The post We can’t respond to Prof Aryeetey’s ‘false’ claims – UG appeared first on Citi 97.3 FM - Relevant Radio. Always.

Professor Aryeetey rubbished these claims at a press conference on Wednesday, explaining that the University of Ghana had gone through all the right procedures before signing the agreement with the company.

The University, back in 2015, entered into a Public Private Partnership (PPP) agreement with Africa Integras to invest US$64 million in the construction of 1,000 new students’ hostel beds for undergraduate and post-graduate students on the Legon campus.

The project was structured as a 25-year Build, Operate and Transfer (BOT) contract.

Recent media reports by The Chronicle and The Informer Newspapers, have raised questions about the deal,  particularly relating to the overall cost to the University.

However, Professor Aryeetey insisted the processes leading up to the signing of the agreement with Integras were transparent, with all relevant stakeholders being kept informed of all developments.

“There is no scandal at all in relation to the $64.4 million contract. Africa Integras signed an agreement that they were supposed to spend that money. As far as I know, by the time the project stopped, they had spent about $28 million. How does a phony company come and spend $28 million? You can see the buildings coming up and yet it has been written that I have signed an agreement with a phony company. We haven’t spent any money ourselves, it’s the ‘phony’ company that’s spending the money; how does a phony company put up buildings?,” Professor Aryeetey asked.

He also dismissed assertions that that he had received financial inducements to allow the project to proceed.

“I can assure the public that nothing untoward took place. The processes that were followed were very transparent. It’s being suggested that there was something corrupt, but there’s no such thing. I was never offered any money by any of the persons we dealt with. I have never asked for anything nor have I taken money from anybody in relation to this or any other project. Any suggestions of wrongdoing will be completely misplaced.”

‘1,000 jobs lost, 20,000 students deprived’

The project was expected to be completed in September 2017, and was set to include the construction of an expanded facility for the College of Humanities, a new College of Education, a new dedicated facility for the College of Basic and Applied Sciences, and the Institute of Technology and Applied Science, as well as a new facility for the College of Health Sciences, which will be located near the new teaching hospital on campus.

Work on the project has since stalled, which according to Professor Aryeetey, will cost about 1,000 people their jobs and 20,000 students a chance to study at the country’s most prestigious tertiary institution.

“There’s no scandal, if there is one associated with the buildings, then it is coming up in the future. What is scandalous is that, we have stopped the construction for no good reason. There was never a problem with the design of the buildings or the structuring of the facility, and we believe that it was something that was required by the University. Once these buildings are finished, at least 20, 000 more students can use the University of Ghana, not all of them residents. The buildings didn’t come out of nowhere, it came as part of the strategic plan we had for the University of Ghana,” he said.

“By stopping the construction, we are putting a hold to the strategic plan, we are denying many young Ghanaians who would have had a chance to go to the University, and we are making it impossible for good research to be done. It was basically going to revolutionize the way we do teaching.”

No risk of financial loss

Professor Aryeetey added that, despite the concerns that have been raised about the cost that the University would incur over the cause of the period, the institution was well-placed financially to go through with the project.

“These projects are affordable, the University can afford them and does not need the intervention of anybody, not the government or SSNIT. It is expensive like many good projects, but it is certainly within the design to be able to take care of it. The University simply needs to do what had to be done in order to pursue the project,” he said.

“If there is any financial loss associated with this project, it’s something that’s going to be in the future. But it will not be because I designed a bad agreement. It will be because people in leadership positions today failed to live up to their responsibilities and show courage.”
–
By: Edwin Kwakofi/citifmonline.com/Ghana

The post Prof. Aryeetey denies fraud claims in $64m UG deal appeared first on Citi 97.3 FM - Relevant Radio. Always.

The award is in recognition of his contribution to the study of African Economies.

A Professor of Economics, Ernest Aryeetey became Vice-Chancellor of the University of Ghana in 2010, ending his tenure at the end of July 2016.   He is currently the Secretary-General of the continental research body, African Research Universities Alliance (ARUA).

Previously he was Director of the Institute of Statistical, Social and Economic Research of the University of Ghana.

Prof. Ernest Aryeetey’s research focuses on the economics of development with interest in institutions and their role in development, regional integration, economic reforms, financial systems in support of development and small enterprise development.

He is well known for his work on informal finance and microfinance in Africa.  He has consulted for and advises a broad range of international agencies.  Prof. Aryeetey has published three books, seven edited volumes, and numerous journal articles.

Among his publications are Financial Integration and Development in Sub-Saharan Africa and Economic Reforms in Ghana:  the Miracle and the Mirage.  He directed the Brookings Africa Growth Initiative (2009-10) and continues as a non-resident Senior Fellow at Brookings.

Prof. Aryeetey has held academic appointments at University of London, Yale, Cornell and Swarthmore.  He obtained a doctorate for his work in Political Economy from the University of Dortmund, Germany in 1985.

–

Source: UG

The post Prof. Aryeetey honoured for contribution to African economies appeared first on Citi 97.3 FM - Relevant Radio. Always.

Prof. Aryeetey made the remarks at the 57th Founders Week Celebration of the Ghana Science and Arts Academy (GAAS) on the theme: “Sustainable Land Administration in Ghana.”

Delivering a lecture on the topic: “The Future of the University in Africa,” Prof Aryeetey said Africa was capable of developing globally competitive universities to deal with its numerous development challenges.

This, he said, could be achieved by an appropriate use of new technologies and an overhaul of government systems in the universities.

He said poor, inefficient and highly bureaucratic management, lack of training, low Information and Communication Technology (ICT), and overburdened management were challenges that faced the African universities.

Prof. Aryeetey said globalisation, internationalisation and technological changes were key factors influencing change in the importance, scope and complexity of higher education environments.

He said African universities lacked active and co-ordinated research community and cited Asian and European universities to have heavily invested in new technologies in their universities to attain a world class status.

“Are African universities generating, transferring and applying knowledge that can be used to solve contemporary African and global problems such as poverty, climate change, low infrastructure, low academic advancement in technology, international terrorism, Ebola and lifestyle diseases?

“Are the universities preserving knowledge for future use? Providing solutions to these and several other questions is key if the university in Africa is to remain relevant.”

He, therefore, suggested that African universities need to maintain acceptable levels of autonomy with accountability and double efforts to re-engineer instructional pedagogy.

“Restructuring and re-engineering university governance in Africa will provide the means to become a combination of corporate, virtual, governance, African culture, advanced technology, and developmental university,” he said.

Prof Aryeetey said there was the need to build partnerships for university governance to fill the funding gap created by the retreating African State and other traditional donor agencies through markets and performance-driven funding arrangements.

The Academy’s Anniversary programme started in November 1960 with intense activities as attention is firmly focused on important national or topical issues.

The Founder’s week starts with the Presidential Address delivered by the President of the Academy.

It is followed by a three-day symposium on a selected subject of topical or national interest.

The last day is usually dedicated to what was formerly called the Anniversary lecture, now renamed the “Kwame Nkrumah Memorial Lectures” in memory of Ghana’s first President.

–

Source: GNA

The post African universities must invest in research – Prof Aryeetey appeared first on Citi 97.3 FM - Relevant Radio. Always.