Thirty-three young African scientific researchers are attending a four-day intensive workshop on Stochastic Optimal Control and Application (SOCA) with schools at Biriwa in the Central Region.
The workshop is being organised by the African Institute for Mathematical Sciences (AIMS) Ghana, under the auspices of the Alexander von Humboldt and the German Ministry of Education and Research.
Researchers in disciplines relating to Probability Theory, Financial and Actuarial Mathematics, Insurance, Mathematics, Statistics and Economics from 13 African countries are attending the workshop.
Its focus is on initiating collaborative research among researchers in universities in Ghana and beyond as well as strengthening existing collaborations and initiatives.
The overall aim is to bring new insight into research directions of Financial and Actuarial Mathematics and find solutions to new problems arising.
Participants would be taken through topics such as; Introduction to Stochastic Control with Applications to Mathematical Finance, Optimal Portfolio with Risk Constraint and the Language Method and Controlability Results for Non Local Impulsive.
President of AIMS, Ghana, Professor Francis Kofi Allotey, noted that the study of Financial and Actuarial Mathematics was low in Sub-Saharan Africa.
He said the workshop was to help raise Financial Mathematics to a high level where African youth would appreciate and become part of it adding that it was important and essential, especially for those in the insurance industry.
He said AIMS, as a mathematical sciences institution, taught students mathematics related to finance, industry and the academia such that whoever passed through the institution would be equipped enough to continue a career in any of those directions.