Prof. Joshua Yindenaba Abor, Dean of the University of Ghana Business School recently delivered his inaugural lecture on the topic: “Financing Private Enterprise Growth in Africa: How do we drive the real economy?” at the Great Hall of the University of Ghana. The event was chaired by the Vice-Chancellor, Professor Ebenezer Oduro Owusu.
In his lecture, Professor Joshua Yindenaba Abor shared insights on Africa’s financial systems. He mentioned that Africa’s financial systems are small, shallow, costly, limited in outreach, and tend to limit entrepreneurial access to formal finance, thus hampering private enterprise growth and development on the continent. He emphasized the mechanisms of financing private enterprises, which he argued, is considered important for economic growth, especially in developing countries.
He stressed on the importance of corporate governance and its implications for enterprise financing in Africa. He then touched on the role of development finance, innovative financing and appropriate public sector interventions, and demonstrated how private enterprise development in Africa can be well anchored.
He noted that finance plays a critical role in private enterprise development in every country. While the financial sector can spur economic growth by mobilising savings for investments, Prof. Abor opined that it can also be a source of fragility (if not properly regulated) as observed during the global financial crisis, the Eurozone crisis and the banking crises in some emerging and developing countries.
Prof. Ebenezer Oduro Owusu, Vice-Chancellor
In his closing remarks, Professor Ebenezer Owusu Oduro, congratulated Professor Abor for the strides he had made in his academic career. He noted that Professor Abor’s research area is important for addressing the economic challenges burdening the country and Africa. While thanking him for the excellent lecture, the Vice-Chancellor called on government and the private sector to take advantage of the useful insights made to change the economic fortunes of the country.
Mr. Enoch Amartey, Acting Registrar, giving his welcome remarks
Earlier in his welcome remarks, the Acting Registrar, Mr. Enoch Amartey, emphasized on the significance of inaugural lectures, which he said forms an essential component of the University’s programmes for the academic year. He noted that every academic who achieves the highest rank in his or her career in the University of Ghana, is expected to deliver an inaugural lecture. This he noted, offers the University an opportunity to recognize and showcase the academic achievements of its staff, as well as enable the Professor to celebrate an important personal milestone with family and friends, and share with colleagues within and outside the College about their research works.
The lecture was attended by Pro-Vice-Chancellors, Provosts, Deans, Directors, and members of the University community. Also present were colleagues, students, family members and friends of the lecturer, and the general public.
There were a number of presentations made to Prof. Joshua Abor from academic units of the University and other institutions outside of the University, as well as corporate bodies, and family members, to congratulate him.
Professor Abor’s wife and children in a pose with him after congratulating Him with a bouquet of flowers
A number of presentations to congratulate Professor Abor
Prior to the inaugural lecture, a week-long exhibition of Professor Abor’s scholarly works was held at the Balme Library.
An Exhibition of Professor Abor Scholarly Works