The Board of Trustees and the Management of the Ghana Education Trust Fund via the Administrator, Dr. Richard Ampofo Boadu, has in a stakeholder engagement forum organized by the Fund, held at the Academy of Arts and Sciences, Accra, provided overview of its success stories, challenges and the way forward in supplementing financing of education.
According to the Administrator, this total GETFund project portfolio was uncovered after the Board of Trustees ordered for an infrastructure audit of the entirety of projects funded with the proceeds of the Fund in 2017. The Infrastructure Audit Report for the first time in the history of Fund provided basic scientific data on all projects with their GPS locations plus their associated contract details.
Dr. Boadu listed some of the landmark projects financed by the Fund as; the Academy of Arts and Sciences, Accra, Koforidua Technical University, University Professional Studies, the Law Faculty, University of Ghana, the E Blocks, the Model Schools, University of Ghana Sports Stadium, vehicle and furniture supplies to schools and agencies under the Ministry of Education among others.
“The Board of Trustees and Management of the Fund have been prudent in managing the finances of the Fund thus far leading to improved access and retention across all levels of education entry and the enormous contributions to the delivery of quality education in the country”, Dr Boadu said.
Dr Richard Boadu reported that a total of 2259 projects have been initiated and completed from 2017 to date. These projects include 1,340 legacy projects his administration inherited in 2017, whereas the 915 are new projects his administration initiated and are completed.
These projects completion statistics since assumption of responsibilities of the current administration refute the perception that, inherited projects have been abandoned at the expense of new projects. “Such narrative is completely erroneous and misleading”, the Administrator asserted.
“Delays in payments to contractors who have presented certified payment certificates are the major challenge to the operations of the Fund”. This challenge emanates from the non timely releases of due receivables out of the 2.5 percent GETFund Levy”, Administrator expressed.
In attendance at the Forum were; the Education Minister, Hon. Dr. Yaw Osei Adutwum, Deputy Information Minister, Hon. Fatimatu Abubakar, Deputy Education Minister (General Education), Hon. John Ntim Fordwuor, Chairman of Education Committee of Parliament, Hon. Kwabena Amankwa Asiamah, Ranking Member on the Education Committee of Parliament, Hon. Peter Nortsu, Deputy Ranking Member, Education Committee, Hon. Dr. Clement Apaak, Chairman of Board Trustees of GETFund, Prof. Dominic Fobih, Heads of Agencies, Vice Chancellors, Principals of Colleges of Education, Regional Deans of MMDCEs, Regional Coordinating Directors, CHASS, RCC and Districts Works Engineers, Contractors, Project Consultants, Students and Civil Society Organizations