The newly constructed 1,246-student capacity hostel complex of the University of Professional Studies, Accra (UPSA) has officially been inaugurated.
The ultra-modern hostel complex, which was acquired at a total cost of GHC 31,136.00 has facilities such as CCT cameras, an elevator, saloon, a restaurant, laundry, kitchen and a communication centre.
The rooms also have individual electricity meters to prevent waste and also ensure high energy conservation culture among students.
Mr Justice Nii Aryeetey, Chairman of the University Council, at a brief ceremony on Thursday, said the facility has relieved both the institution and students from years of struggles to resolve the challenging accommodation problems.
He thanked both parents, staff and students for their support over the years, and also commended the contractor of the project for completing work within the two-year schedule.
He applauded the students for their commitment and dedication towards the completion of the
project, but urged them to maintain their sense of ownership of the facility, by observing high maintenance culture for the benefits of posterity.
Professor Joshua Alabi, Vice Cahacellor of UPSA, explained that although the institution used to have a hostel within its premises, the citing and dilapidated nature did not befit the current status and development vision, and so it was mutually agreed that it should be pulled down and replaced.
He said the University was, however, confronted with the challenge of land availability for the project, until the University of Ghana decided to lease the present 2.9 acre land site to them at a cost of 91,602 dollars, for a period of 35 years, which was subject to 15 years renewal and other stringent terms.
According to him, apart from the initial payments to secure documents for the land and other goodwill, the UPSA was also expected to pay an annual rent of 11,920 United States dollars to the University of Ghana.
He, however, expressed his gratitude to the management of the Access Bank, for offering to build and later transfer the facility to the UPSA after full payment of the total construction and furnishing cost GHC30.7 million.
Prof Alabi announced that in spite of the numerous financial difficulties encountered, the UPSA has been able to fully repay the bank for the funds used, and could now boast of full ownership of the facility.
He also commended the entire student body for generously contributing a total of GHC 651,000 through a voluntary levy, to support the amount from the Internally Generated Funds of the University to pay for the cost.
Prof Alabi said considering the credit worthiness of the University, the bank has further agreed to pre-finance an ultra-modern auditorium with a sitting capacity of 4,500 and it was hoped that they would use the same model to repay the money.
Mr Kwabena Appiah Gyimah, Head of Business Banking at Access Bank, said the Bank was proud to be associated with the UPSA, and for that matter, to support in developing and bridging the current wide gap of infrastructural deficit in the educational sector. GNA