Ghanaian entrepreneur and investor, Richard Nii Armah Quaye, has pledged an annual scholarship to support brilliant but financially challenged students at the KNUST School of Business.
Announcing the initiative at the 59th Congregation of the School, he said the scholarship is part of his commitment to empowering young people to “build and not complain,” emphasising that national development depends on individuals who take action.
Mr. Quaye said the initiative aims to remove financial barriers for talented students. “Education should never be limited by circumstance. We want to ensure that brilliant minds are given the opportunity to rise,” he told the gathering.
Reflecting on his own journey, he urged graduates to embrace discipline and determination as they begin their careers.
“I didn’t start my journey with privileges or with wealth. What I had was hunger; hunger to build, hunger to solve problems,” he said. “You don’t have to come from wealth to create wealth. But you do need discipline, structure, and the right ecosystem.”
He encouraged graduates to take risks rather than wait for ideal conditions. “If I had waited for perfect timing, Quick Angels and RNAQ Holdings would not exist. Start small. Start imperfect. Start now,” he said.
KNUST Partners with RNAQ Holdings to Support Student Entrepreneurs
Earlier, KNUST and RNAQ Holdings agreed to collaborate on student entrepreneurship during a courtesy visit to management of the University. Mr. Quaye said he is committed to supporting young people who aspire to succeed.
“I am committed to helping young people on the quest to be successful,” he said, adding that his strategy is rooted in cooperation. “My doors are open, and I'm committed to working together to achieve our ultimate goal.”
Professor David Asamoah, Pro-Vice-Chancellor said the partnership aligns with the University’s direction. “We treasure a partnership with industry,” he said. “The goal is to ensure our students, in this AI world, not only acquire theoretical knowledge but also practical skills.”
Prof. Asamoah added: “We are happy to bring you on board. We are committed to helping with this partnership and fostering the relationship.”
Provost Highlights International Growth and Industry Support
Provost of the College of Humanities and Social Sciences, Prof. Charles Ofosu Marfo, said the School of Business expanded its international engagements during the year.
Three MPhil students completed DAAD-sponsored academic work at the Technical University of Munich, one earning a fully funded PhD opportunity. Staff also participated in an exchange programme at Leipzig University, while eight postgraduate students attended leadership training at the University at Buffalo.
He added that industry support increased, with ACCA Ghana establishing a resource centre valued at about GHS 200,000 and OmniBSIC Bank donating 30 desktop computers.
Students won top awards in ICAG and ACCA exams, and the School claimed the 2025 Graphic Business Tertiary Business Sense Challenge and the 2025 National Insurance Debate.
Government to Support Young Entrepreneurs – Ashanti Minister Assures Graduates
The Ashanti Regional Minister, Dr. Frank Amoakohene also assured graduates that the government is strengthening support systems for young entrepreneurs through the National Entrepreneurship and Innovation Programme (NEIP), the Youth Employment Agency (YEA) and the National Youth Authority (NYA).
Speaking at the congregation, he said the interventions are intended to equip graduates with capital, tools and institutional backing to grow their businesses.
He noted that programmes such as the President’s AdwumaWura Business Support now allow national service personnel to self-place into their own enterprises and receive financial support while developing them.
Dr. Amoakohene encouraged graduates to pair these opportunities with discipline and integrity. “Your knowledge is powerful, but your integrity will sustain you in the corporate world,” he said
Story by: Edith Asravor
