Six banks solving Legon students' accommodation problem

Accra, Sept. 10, GNA- The University of Ghana, Legon on Monday signed a loan agreement totalling 26 million new Ghana cedis with a consortium of six banks as part of efforts at solving accommodation problems confronting the students. The banks are; Cal Bank, Fidelity Bank, Ecobank, and Agricultural Development Bank

The rest are International Commercial Bank and SG- SSB. Speaking during the ceremony, Professor Clifford Nii Boye Tagoe, Pro-Vice Chancellor of the University of Ghana said since its inception in 1948, the students' population of the University kept rising every academic year and that the problem became compounded when the Senior Secondary School system was introduced.

He said the University would contribute 4.2 million new Ghana cedis from its coffers toward the projects to be completed in two years. He said when the hostel was completed it would provide accommodation for seven thousand, one hundred and twenty students. Professor Tagoe thanked the banks for coming to the aid of the University and pledged that the money would be put to good use. Mr Anthony Oteng-Gyasi, Chairman of the University of Ghana Council said all stakeholders in tertiary education should recognize the fact that education had become a big business and therefore needed investment and support.

He said this did not mean that the poor in the society should be left out adding, "lack of money would never be a barrier to those who would qualify to come to this University". All the Chief Executive Officers of the six banks lauded the initiative, which the university had taken and hoped that the project would be completed on time. 10 Sept. 07