Report: NASAC ADI webinar on “Maintaining Financial Sustainability with Independence”
On 12 September 2024, NASAC held a virtual meeting on the topic “Maintaining Financial Sustainability with Independence” as part of its Academy Development Initiative (ADI) series. The meeting brought together more than 20 participants drawn from existing and potential new academies.
Dr. Christian Acemah, the Executive Secretary of the Uganda National Academy of Sciences (UNAS) and the main speaker for the session, gave a presentation on the meeting’s topic based on the UNAS experience. He provided an overview of financial sustainability, emphasizing the need for academies to establish robust financial models that enable them to operate independently. He also highlighted various funding sources including partnerships with the private sector, government agencies and international grants which are vital for sustaining operations of the academies. Dr. Acemah also pinpointed the importance of maintaining independence while pursuing these funding opportunities. “As long as it not your money, you cannot become successful,” he said. He further stated that financial independence is vital for maintaining the integrity and credibility of the academies, ensuring that their science advice remains free from external influences.
The speaker also emphasized the value of multisectoral collaboration and networking. By forming partnerships with universities, research institutions, and industries, academies can not only enhance their resource base but also broaden their impact within the scientific community. Additionally, Dr. Acemah advocated for peer learning among academies, encouraging knowledge sharing and the exchange of best practices. This approach not only fosters a sense of community but also strengthens the capabilities of individual academies. He also emphasized that investing in ongoing training and professional development for staff is key to navigating the complex funding landscape effectively. Empowered staff can better manage financial resources and seek out new opportunities for sustainability.
The meeting included a participatory question and answer (Q&A session) that enabled participants to seek clarifications, ask questions and engage with each other. This interactive session enhanced the overall discussion and provided practical takeaways for attendees. In conclusion, the meeting was a significant opportunity for NASAC members to explore strategies for maintaining financial sustainability while ensuring independence. It also highlighted NASAC’s commitment to supporting its members in developing effective strategies that enhance their financial independence and sustainability. Moreover, the meeting provided a foundation for a deep dive discussion on the same topic which will take place physically during the Learning Collaborative Session at the Annual Meeting of African Science Academies (AMASA) on 25th November 2024 in th International Conference Centre Algiers, Algeria
