Deputy Minister for Finance Thomas Nyarko Ampem has called on alumni of the Kwame Nkrumah University of Science and Technology (KNUST) to support the university’s endowment fund to ensure sustainable financing for research, innovation and academic development.
He said alumni must extend the loyalty and commitment they demonstrate towards their former secondary schools to KNUST, which he noted had played a significant role in shaping their professional lives.
Speaking at the KNUST alumni fundraising dinner at Manhyia Palace on Friday, October 23, 2026, Mr. Nyarko Ampem said the university could not rely solely on government funding to meet its growing financial needs.
“I am not asking anyone to abandon their secondary school, far from it. What I am doing is simply asking that we extend similar loyalty, passion and generosity to KNUST,” he said.
He observed that alumni associations of secondary schools often mobilised resources to finance projects, support students and protect the reputations of their institutions, but similar levels of commitment were not always evident among university alumni.
Mr. Nyarko Ampeh urged KNUST graduates to make regular contributions to the endowment fund, stressing that even modest donations could generate substantial resources when combined.
According to him, KNUST produced approximately 150,000 graduates between 2020 and 2025, representing a significant pool of talent and financial potential that could be harnessed to support the university.
He said if 20,000 alumni contributed GH¢100 monthly, the university could raise GH¢24 million annually and GH¢120 million over five years, excluding investment returns.
Such funding, he said, could support scholarships, equip laboratories, finance research programmes and establish innovation centres to strengthen the university’s contribution to national development.
Calls for accountability and transparency
The Deputy Finance Minister stressed that effective management of the fund would be crucial to sustaining alumni confidence and encouraging more contributions.
“Trust attracts contributions, transparency sustains them, and impact multiplies them,” he said.
He urged the university’s leadership to ensure that every contribution was properly accounted for and invested in projects that served KNUST’s long-term interests.
He also called for stronger collaboration between the university and industry, urging alumni in business, engineering, finance, medicine and technology to help translate university research into practical solutions, businesses and employment opportunities.
Mr. Nyarko Ampem said the success of the endowment fund should be measured not merely by the amount of money raised, but also by the scholarships awarded, research supported, laboratories equipped and opportunities created.
He challenged alumni to make the fund a sustainable source of financing rather than relying on occasional donations.
“A donation meets today’s needs; an endowment helps secure tomorrow’s sustainability,” he said.
Cites global research funding gap
Mr. Nyarko Ampem said increased investment in research and innovation was essential if Ghana was to become an industrial and knowledge-driven economy.
Citing UNESCO figures, he said sub-Saharan Africa spent approximately 0.38 per cent of its gross domestic product on research and development in 2023, compared with the global average of about 1.92 per cent.
He said the disparity highlighted the need for Ghana to strengthen its research capacity and reduce its dependence on technologies developed elsewhere.
He welcomed the launch of the Ghana National Research Fund by President John Dramani Mahama in June 2026, with an initial allocation of GH¢100 million, describing it as an important commitment to scientific research, technological innovation and knowledge-driven development.
He said KNUST must go beyond awarding degrees to become a centre for developing technologies, solving industrial problems, creating enterprises and generating jobs.
Drawing comparisons with leading American universities, including Harvard, Yale and Princeton, Mr. Nyarko Ampem said their substantial endowments reflected a culture of sustained giving and long-term investment by alumni.
He expressed confidence that KNUST could aspire to similar standards if its graduates embraced a comparable culture of commitment.
“If Harvard is America’s Ivy League, KNUST can become Ghana’s Ivy League. But if we want Ivy League standards, we must cultivate an Ivy League culture of alumni commitment,” he said.
Announces GH¢1 million pledge
The Deputy Finance Minister also announced that a friend and chief executive officer of AE Technologies, identified in his remarks as Ofranko, had pledged GH¢1 million towards the KNUST alumni endowment fund.
He said the pledge followed personal appeals he had made to former classmates and other alumni ahead of the fundraising event.
Mr. Nyarko Ampem expressed concern that several of his former classmates were unaware of the programme, despite being willing to contribute to the university’s development.
He therefore urged the organisers and university leadership to intensify efforts to reach more alumni and inform them about the fundraising initiative.
He also recounted a conversation with another business executive, the chief executive officer of Marama, who had expressed willingness to make a pledge. However, the amount of that proposed contribution was not stated in the remarks provided.
Mr. Nyarko Ampem urged alumni to use the period leading up to KNUST’s 80th anniversary, expected in 2030, to demonstrate the impact of their collective contributions.
He said the ultimate measure of success would be the difference the endowment fund made to students, researchers, the university and the wider Ghanaian economy.
Source : www.kumasimail.com
