Accra, Ghana, October 16, 2019//-Members of Ghana Chamber of Mines today launched their over $400,000 annually Tertiary Education Fund (TEF) to train Ghanaian youth in mining and its related programmes at the prestigious University of Mines and Technology (UMaT) based Tarkwa in the Western Region.
The Fund which is expected to take off next year will run for five years at the UMaT. It is likely to be extended beyond its current limit.
The Chief Executive Officer of the Ghana Chamber of Mines, Sulemanu Koney, explained: “The source of revenue for the Fund, which will be administered in phases, shall be primarily from the producing member companies of the Chamber, who shall together contribute $400,000 annually for five years”.
Additionally, contract mining and explosives manufacturing member companies shall each contribute $3,000 and $2,000 respectively annually for the period, he said.
“We envisage a total of $442,000 to be mobilised in the first year; that is 2020”.
The Fund according to Mr Koney shall be applied to support teaching and learning, research of faculty and post-graduate students related to the industry needs and application of automated systems as well as innovations in mining.
He added that the Fund would also cover bursary for under-graduate students according to industry needs, provision of educational resources; as well as industry internship programmes in the country.
“Much as the decision to institute the Fund is altruistic, there is a palpable element of self-regard; which is to say that it will serve as a direct pipeline of human resource for mining companies in Ghana and beyond”.
The CEO noted that it is in Ghana’s interest to ensure that they continue to serve as a major producer and exporter of the much-needed expertise, which are in high demand in emerging mining destinations on the African continent and elsewhere in the world.
“The companies’ sustainable competitive advantage is largely based on the skills and competencies of their employees. It is therefore goes without saying that to have a thriving mining industry, we need to invest in our tertiary institutions that train the manpower for industry”, Mr Koney emphasised.
The President of the Ghana Chamber of Mines, Eric Asubonteng who performed the launch was confident that the realisation of the idea signals a key step in the Chamber’s effort in supporting the development of Ghanaian skills in the resources industry.
“This Fund is primarily aimed at keeping Ghana’s mining industry on an upward trajectory with a regular stream of highly qualified and technically astute professionals”, he stated.
The Chairman of the newly inaugurated Governing Board of the Ghana Chamber of Mines’ Tertiary Education Fund (TEF), Stephen Ndede, promised to administer the fund judiciously to achieve the desired results.
The Vice Chancellor of UMaT, Prof S.Y. Kuma expressed gratitude to the Chamber for its continuous support to the university, saying: “TEF is being launched at the time government’s support towards tertiary education is dwindling”.
Meanwhile, Mr Asubonteng used the occasion to swear-in the eight-member Governing Board of the Ghana Chamber of Mines’ Tertiary Education Fund (TEF). It is chaired by Stephen Ndede.
African Eye Report
