According to Clement Kelvin Yeboah, Principal and CEO of Prominence Institute of Management and Professional Studies (PRIMPS) has lamented over current challenges facing private tertiary institutions due to the current economic conditions in the country.
He explained that the school’s enrolment has dropped significantly while management now struggles to break even. The phenomenon he added has affected public institutions as well. He made this known when he spoke to Kwame Offei on Spice Fm on impact of current Economic Conditions on businesses in the country.
”Enrolment has dropped significantly, previously, I used to employ 120 students every 6 months but it has now reduced into the 30 to 40 ranges, I am not the only one who is affected, even some public institutions including Takoradi Technical University are all having a similar experience.
Speaking about how the school has managed to sustain the day to day running of the institute, Mr, Yeboah said that the current economic conditions of the country have necessitated the school admistration to also engage lecturers capable of handling multiple subjects while single subject lecturers are disengaged.
”Now standard of living is up and lecturers are equally demanding for more, therefore I don’t have any option than to downsize so I look at multifunctional lecturers then I let the other ones go for a possible call back incase times change”.
He finally lamented on how international students are impacted by the increasing standard of living.
‘‘Lots of Ivorians and Nigerians come to my school as foriegn students. I am into professional education, and I deal with the forex, and every quarterly student have to register for their papers buy pounds, some foriegn students tell me that their parents complain about the freequent demand of money for daily spendings.
In April Nigeria and Ivory Coast Inflation stood at 16 and 4 percent respectively while Ghana’s inflation was 23.6.
Ghana’s current rising debt levels, poor balance of payment performance, increase in inflation has currently necessitated a negotiations with International Monitory Funds.
story by Kwame Offei
