This article is based on an empirical study of the importance of a symmetrical relationship between higher education institutions (HEIs) and cognate industry in Ghana. Using social capital theory as the theoretical underpinning of the study, the authors investigate how social structure and networks serve to explain HEI-industry relationships. The research follows a mixed-methods approach for gathering and analysing data from students, academics and industry representatives. The results suggest that the current relationships between HEIs and industry in Ghana could be improved through joint agreements, academic engagement and the development of policies that create synergy between the two entities. Additionally, the benefits to HEIs from such symmetrical relationships include the development of students' employability skills and technology proficiency as well as the contribution of industry experts to educational programmes. The authors discuss the implications of their findings in relation to theory, practice and future research.