B.SC. ACTUARIAL SCIENCE PROGRAMME INAUGURATED AT UPSA

The University of Professional Studies, Accra (UPSA) has begun the running of a new programme- the Bachelor of Science (B. Sc.) in Actuarial Science at the University.

The programme is designed to train graduates to be able to provide policy direction and advice for decision-making regarding risk and insurance for individuals, businesses and government

Graduates of the programme are expected to be placed in financial careers such as banking and finance and secure careers in the field of actuarial science, risk and insurance management, pensions administration and related fields.

UPSA is the sixth after the University of Cape Coast (UCC), Kwame Nkrumah University of Science and Technology (KNUST), Kumasi, Pentecost University College (PUC) University of Ghana (UG), Legon and the University for Development Studies (UDS) to run the B.Sc. programme in Actuarial Science.

Welcoming the audience to the inaugural ceremony in Accra, yesterday, Prof. Joshua Alabi, Vice Chancellor, UPSA, said the introduction of the B.Sc. programme in Actuarial Science was informed by the results of a market survey which established the need for the programme.

Prof. Alabi said apart from the survey, an initial assessment of the risk and insurance sector in Ghana had revealed that the level of knowledge about risk management and insurance among the populace was low while the number of personnel with risk management and insurance expertise was inadequate.

He said the programme was, therefore, developed to train the needed expertise to forecast future risk and related issues and also bridge the gap between the theory and practice of insurance and risk management.

In an inaugural address, Mr Stephen Yeboah, Chief Actuary, Social Security and National Insurance Trust (SSNIT), said the programme fitted well into the national agenda of mitigating the risks associated with life, investment and business in the country by establishing institutions related to risk and insurance such as the National Insurance Commission (NIC), Ghana Insurance College (GIC), State Insurance Company (SIC) Limited and promulgating the Insurance Act, 2006 (Act 724).

Mr Yeboah said support from the International Actuarial Association (IAA) would be sought to move the Actuarial profession in Ghana forward.

In his remarks, Mr Simon Nerro Davor, Deputy Commissioner, NIC, and Chairman for the occasion, pledged the support of NIC to the successful running of the programme.

Source: Government of Ghana.