Prof. Yankah to meet consortium of banks, UG over controversial loan

The Ministry of Education led by the Minister of State, In Charge of Tertiary Education, Prof Kwesi Yankah is expected to meet the leadership of the consortium of banks and the management of the University of Ghana soon to find an amicable solution to the controversial UG loan.

This comes after Prof Kwesi Yankah met with the management of the University of Ghana and the leadership of the student body on the alleged privatisation of UGEL hostel.

A statement from the Ministry signed by the Public Relations Officer, Vincent Ekow Assafuah said the middle-ground will have to be reached before the negotiated deadline of 31’t of May 2019.

“Minister of state explained that this matter is strictly the responsibility of the University of Ghana Council but government has expressed interest in the matter because of public interest and its implications for academic stability on university campuses,” said the MoE’s statement.

Meanwhile, the Ministry has appealed to the leadership of the student body to exercise restraint as steps are being taken to resolve the impasse.

This comes weeks after the Education Minister, Dr. Matthew Opoku Prempeh, indicated that the school might soon be privatized if it fails to meet its obligations in a $64 million agreement it entered into with a private company, Africa Integras.

“University of Ghana might be put up for sale because it entered into an agreement and the school is unable to abide by the terms and conditions of the contract. Under this contract, Legon is expected to pay 10 million dollars every year for 25 years. If Legon is unable to settle this loan, its assets will be seized,” the Minister had stated.

But speaking on Accra-based Citi FM, Professor Yankah said government will ensure the school remains a valuable state asset.

“It is our prime university, the number one university in the country – probably the number one in West Africa…Fortunately, there appears to be a resolution in the offing. Parties are talking as we speak now and there appears to a resolution in one form or the other. We will do anything possible to save the University. We will not just sit and allow the University to collapse.”