The Kwame Nkrumah University of Science and Technology, Kumasi (KNUST) has signed a Memorandum of Understanding (MoU) with the National Insurance Commission (NIC) and the Ghana Insurance University College (GIUC) to deepen collaboration between academia and Ghana’s insurance industry through the “Campus Care Project.”
The partnership aims to strengthen insurance education, actuarial science training, research and innovation, while creating internship, research and professional development opportunities for students of KNUST’s Department of Statistics and Actuarial Science.
Dean of the International Programmes Office (IPO), Prof. Edmund Ekuadzi, explained that the collaboration emerged from engagements between the Department of Statistics and Actuarial Science, the National Insurance Commission and the Ghana Insurance University College on the need to bridge the gap between academia and industry.
According to him, the partnership recognises KNUST’s leadership in training highly skilled graduates and conducting impactful research capable of addressing challenges within Ghana’s insurance sector.
“The idea is to bring academia and industry together so that KNUST can provide practical solutions to challenges confronting insurance companies through research, innovation and hands-on training,” he stated.
Prof. Ekuadzi disclosed that the NIC and GIUC have committed seed funding of one million Ghana cedis to support the Campus Care Project. He noted that KNUST would provide space and academic expertise for the initiative, while the NIC would facilitate internship placements to give students practical exposure within the insurance industry.
Chairman of the Campus Committee Initiative Board, Dr. Isaac Baidoo, said the initiative seeks to address long-standing challenges in Ghana’s insurance sector, including low insurance penetration, limited professional expertise and concerns over industry profitability.
He noted that the Campus Care initiative would help transition students from academic training into industry-ready professionals capable of contributing meaningfully to the growth of the sector.
Vice-Chancellor of KNUST, Prof. (Mrs.) Rita Akosua Dickson, welcomed the collaboration, describing it as a crucial step towards preparing students for industry and the global job market.
“There is no way we can achieve much if we decide to do everything by ourselves,” she remarked. “We are training these students for industry, and if academia and industry fail to work together during the training process, we only postpone the challenges employers will eventually face.”
Prof. Dickson commended the inclusion of internship opportunities and practical industry engagement, stressing that KNUST remains committed to producing graduates equipped for both the Ghanaian and international markets. She also praised the “Campus Care” concept, noting that the idea aligns strongly with the university’s institutional culture.
“We care for students, staff, stakeholders and alumni. Campus Care is therefore in the right place,” she added.
Registrar of KNUST, Mr. Benjamin Boampong Owusu, expressed optimism about the partnership, stating that the collaboration would further strengthen research, innovation and institutional cooperation for mutual growth and success.
