KNUST beats three other universities in competition

KNUST beats three other varsities in competition

The Kwame Nkrumah University of Science and Technology (KNUST) has emerged winners of the maiden edition of ‘The Royal Banking and Finance Challenge’ which aims at educating the public, especially the youth, on financial literacy.

The KNUST shrugged off a stiff competition from three other finalists, the University of Ghana, the University of Education, Winneba and the Methodist University College of Ghana, to win the competition which had 16 contesting universities.

The University of Ghana came second, followed by the University of Education, Winneba and the Methodist University College of Ghana taking the fourth place.

KNUST dominated the four-round competition from the second round, answering questions from areas such as banking, finance, contract, stock exchange and insurance.
The competition is the brainchild of Edufair Ghana Foundation and was sponsored by The Royal Bank.

Objective
The Managing Director of The Royal Bank, Mr Osei Asafo-Adjei, said the competition was to bridge the gap between industry and academia.

“The products that come out of the universities do not suit industry and to bridge the gap, we need to forge a closer relationship with the students and academia in general. That is why we organised this to let the students know what we expect from them when they come out of school,” he said.
Mr Asafo-Adjei said it was also an opportunity for lecturers to appreciate the practicality of what they tought in the universities.

“The performances have met our expectation and our objective has been met. Financial literacy, to a large extent, has been achieved. It is going to be an annual fair,” he said.

The Executive Director of Edufair Ghana Foundation, Ms Ewura-Esi Enyimayew, expressed similar sentiments about the objectives, saying the competition would get bigger and better next year.


Prizes
For their prizes, the KNUST contestants received a trophy, two laptops and GH¢3,000. The contestants were also awarded with GH¢500 book allowance, GH¢4,000 Royal Students Account, GH¢1,000 worth of Databank Students Investment Account and GLICO Life Insurance cover, while the university received GH¢1,000 worth of books.

For placing second, the contestants from the University of Ghana walked away with two laptops, Royal Students Account, GH¢3,000 cash, Databank Student Investment Account for the two contestants, GLICO Life Insurance cover and GH¢500 book allowance. The university received GH¢1,000 worth of books as its award.
The third and fourth placed contestants received similar prizes but with lower values.


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