Kumasi, Feb. 19, GNA - The management of HFC Bank Ghana and authorities of Kwame Nkrumah University of Science and Technology (KNUST) in Kumasi have signed a Memorandum of Understanding (MOU) to improve development in the University.

Under the MOU, the bank would establish a branch, a shopping mall, business centre and develop a housing scheme for senior members of staff of the university.

The bank would develop a post-graduate housing scheme in partnership with foreign and local stakeholders as part of the academic programme of KNUST and commercialisation of the production units of the printing press, rural art and ceramic works.

Professor Kwasi Kwafo Adarkwah, Vice Chancellor of KNUST signed on behalf of the university while Mr Asare Akuffo, Managing Director of HFC Bank signed on behalf of the bank.

Prof. Adarkwah said the university's partnership with the private sector was to involve industry in activities of academia for their mutual benefit.

Mr Akuffo gave the assurance that the good relationship being established between them would be sustained for more fruitful ventures in future.