SoB-UEW Trains Students in Entrepreneurial Skills Through Innovative Simulations
The University of Education, Winneba (UEW) has made a noteworthy advancement in bridging the divide between theoretical knowledge and practical application in business education. The institution has introduced the Micro Business and Savings Game, an experiential learning initiative to equip students with essential entrepreneurship and financial management skills.
This pioneering programme, organised by the School of Business (SoB) at UEW in collaboration with the German Sparkassenstiftung (DSIK) and the UEW Co-operative Credit Union, seeks to prepare students for self-sufficiency in the job market.
The initiative, which ran from Tuesday, 25th, to Sunday, 30th March 2025, involved 20 selected students from five departments within the SoB. It consisted of two core segments: the Micro Business Game, which lasted three days, and the Savings Game, which lasted the remaining three days. The training allowed students to make business decisions and experience their consequences in a controlled environment.
According to Ms. Evelyn Twumasi, Faculty Exams Officer, the programme is designed to provide students with real-world business experiences, enabling them to grasp key concepts such as customer relationship management, accounting principles, and personnel management.
"Because of the high unemployment rate in Ghana, we want to stimulate students' thinking about entrepreneurship. They need to understand the challenges and opportunities of managing a micro business, including why they should separate their capital from their personal income," she emphasised.
Ms. Evelyn Twumasi noted that many micro-business owners lack the basic knowledge of bookkeeping, which limits their ability to access credit. "Through this programme, we ensure that students understand the importance of keeping proper accounting records, as this can improve their chances of securing financial support in the future," she added.
The Faculty Exams Officer expressed optimism that, with increased sponsorship, the programme could be expanded to benefit more students in the future. “We have over 800 students in the School of Business, yet we could only accommodate 20. With more support, we can scale up the programme to reach a broader audience of students," she appealed.
Mrs. Christiana Kilson, the Chief Executive Officer (CEO) of the UEW Co-operative Credit Union, underscored the significance of the partnership, describing it as a way of giving back to the university community. "We have been operating on this campus for over 30 years and we believe that sponsoring this programme not only benefits the students but also prepares them to make informed financial decisions in the real world," she stated.
Mrs. Christiana Kilson also revealed that the Credit Union offers internship opportunities to outstanding participants, exposing them to practical financial management experiences such as loan assessments, customer service, and business advisory services.
Peter Schuessler, a senior consultant with the German Sparkassenstiftung, highlighted the programme's innovative approach to learning. "This is a pilot project, and we are keen on student feedback to determine whether it should be integrated into the academic curriculum. The goal is to help students complement their theoretical studies with hands-on experience in business management," he noted.
He further revealed that the initiative could pave the way for students to secure internships at credit unions and financial institutions, providing them with valuable exposure to the industry.
As part of the initiative, students' progress is closely monitored through daily evaluations and expectation assessments. At the end of the training, participants receive certificates as evidence of their participation, adding value to their professional portfolios.
The UEW Micro Business and Savings Game is proving to be a transformative educational tool, equipping students with practical skills essential for navigating the entrepreneurial landscape. As feedback from participants continues to pour in, the initiative has the potential to become an integral part of UEW’s curriculum, reinforcing the university’s commitment to producing well-rounded, industry-ready graduates.