By D. I. Laary
Accra, Aug. 10, GNA – Mr. Semiu Lamidi, Executive Director and Chief Financial Officer of FirstBank Ghana has called for collaborative efforts to boost the impact of research conducted by the Council for Scientific and Industrial Research (CSIR).
Speaking at the presentation of a GH₵50,000.00 donation to support CSIR Science for Impact Fund (CSIF), Mr. Lamidi emphasised the need for corporate institutions to work together to turn research into practical solutions that drive economic growth and development.
He noted the partnership between FirstBank Ghana and CSIR was a step in the right direction, but more needed to be done to ensure that research outcomes were translated into tangible benefits for the people.
He explained that the bank was moved to supporting CSIR Science for Impact Fund because the objective of the fund aligned with its mission to maximise shareholder value through sustainable growth, superior customer service, and innovation.
According to him, FirstBank Ghana believed supporting CSIR research efforts could create sustainable solutions that would revolutionize industries and transform the economy. He called on corporate institutions and individuals to support CSIF.
“We implore institutions to come to the aid of CSIR,” he said. “We believe so strongly that if we can transfer their research into practice, the economy will be transformed, particularly in the SME sector.”
In an address, Professor Paul Bosu, the Director-General of CSIR, commended the bank for the gesture, and recalled that the CSIR Science for Impact Fund was launched officially about a month ago.
He noted that the fund’s launch has attracted several pledges, which are “trickling in.”
However, he pointed out that that FirstBank Ghana was the first among such corporate institutions to redeem its pledge, quoting a local proverb to emphasize the importance of commitment and actions over words.
“Their actions reflect what they stand for,'” he said in Twi proverb, implying that FirstBank Ghana’s commitment to supporting the CSIR’s research efforts was a testament to its values and principles.
In June this year, the Council for Scientific and Industrial Research launched the CSIR Science for Impact Fund, a bold initiative aimed at raising $20 million over the next five years.
As part of this effort, CSIR staff have volunteered to contribute one percent of their salary to support the fund over the same period.
Regular inflows into the fund would guarantee sustainable funding and boost scientific research in Ghana. This is expected to be achieved through internal and external sources over the next five years.
This week’s donation, made by FirstBank Ghana, is expected to have a profound impact on the CSIR research impact and development of innovative solutions in Ghana’s small and medium-sized enterprise (SME) sector.
This sector is identified as a critical area of focus, given its potential to create jobs and stimulate economic growth.
Overall, any partnership with CSIR is expected to benefit both parties. While, CSIR will gain access to financial resources and industry expertise, FirstBank Ghana or other stakeholders will benefit from CSIR development of innovative solutions that can drive economic growth and development.
GNA