A five member Board of Directors have been inaugurated to steer the affairs of the University of Cape Coast Enterprise Limited, UCCEL which was established in 2014.
UCCEL which was registered as a private limited liability company and owned by the university of Cape Coast was established to generate funds to support government financial support to the university.
It started with three viable business units which are the UCC Goil Fuel Station, Detergent Production Unit, and the Water Production Unit.
The Glass Blowing Unit (CODVET project) which was funded by Skills Development Fund was also added as the fourth Unit in 2018 after it was refurbished and commissioned.
The 5 member board of directors is chaired by Mr. Kweku Ennin of Zeal Environmental Technologies. Other members include Mrs. Elizabeth Obese with the Directorate of Finance, Prof. Daniel Agyapong, School of Business, Dr, Eunice Fay Amissah, Department of Hospitality and Tourism Management and Mrs. Nana Ama Abaka-Cann, of Legal session.
Speaking a short ceremony to inaugurate the board of directors on Wednesday, the Vice Chancellor of UCC, Prof. Joseph Ghartey Ampiah explained that, “Currently we see that we have to provide more than 50 % of our budget and we have to internally generate it. Government is paying something between 46% and 48% of our total budget and so if we look at our budget for this year which is over 520 million Ghana Cedis as university and we are to pay 52% to 54% percent of that, then that is huge and we cannot do that using school fees only because it is really not enough and we need to generate a lot more money from elsewhere.” Hence the need for UCCEL.
Prof. Joseph Ghartey Ampiah also explained that the formation of the board which is in line with the Ghana company code 1963 Act 179, is to ensure that the operations of UCCEL are distinct from the operations of the university.
The board is charged with the responsibility to provide strategic direction of the Enterprise, develop human resource management systems to promote high productivity, ensure critical review of all proposals among others. In this light, Prof. Ghartey Ampiah implored the board members to “venture into businesses such as concrete work, bakery, paper recycling and automated transport services with car washing bay to improve on the income generation capacity of the university.”
“It is our expectation that in the next few years we would see much more growth and expansion in the works of UCCEL as a high class business venture of comparable international repute. We as university management pledge our unalloyed support in the pursuit of this vision as we remain part and parcel of its success story.” He added
His honour Kofi Seshie Awetewee, the Judge of the Cape Coast Circuit Court did the swearing in of the board of directors at the inauguration ceremony.
Source: ABA AIKINS/ATL FM NEWS