Internally Generated Funds and Financial Sustainability of Ghanaian Public Universities: Unpacking the Nuances

Skills Gap in Kumasi Garment Industry

Abstract

This study explored Internally Generated Funds (IGF) strategies in two Ghanaian public universities through the lens of Resource Dependence Theory. Using a qualitative multiple case study approach, the research examined two public universities to understand their IGF strategies and effectiveness toward financial sustainability. Data was collected through semi-structured interviews with finance officers and document analysis. The findings reveal five key IGF strategic approaches: student-based revenue strategies, infrastructure monetisation, commercial ventures, external partnerships, and staff-driven revenue generation. While these strategies show promise for reducing dependence on government funding, their implementation faces significant challenges, including regulatory constraints, limited institutional capacity and resource limitations. The study contributes to the theoretical understanding of resource dependency in higher education contexts and provides practical implications for university administrators and policymakers. The findings suggest that successful IGF implementation requires a balanced approach that considers both immediate revenue needs and long-term sustainability goals while maintaining academic quality. This research offers valuable insights for higher education institutions seeking to enhance their financial sustainability through diversified funding sources.