The Ghana Education Trust Fund (GETFund) has responded to claims made by John Dramani Mahama, flagbearer of the National Democratic Congress, regarding the setting up of Daakye Plc and the utilisation of bond proceeds.
Mr. Mahama had promised to decollateralise and decap GETFund, alleging that it had been collateralised and capped, hindering its effectiveness.
In a statement dated August 15, 2024, GETFund clarified that its receivables have not been collateralised, but rather securitised to raise funds for urgent activities.
The Fund emphasised that it still has access to its mandatory receivables and has utilised the funds judiciously for the public good.
According to Isaac Asiedu-Odei, Head of Public Relations at GETFund, the securitisation and bond issuance were necessary to support the government’s flagship Free SHS/SHTS/TVET Programme, which led to a surge in enrolment and strained school facilities.
The bond issuance, facilitated by Daakye Plc, raised 2.6 billion cedis between 2020 and 2022, funding 3,001 projects, including inherited and new initiatives, vehicle and furniture supply, and contractor debt clearance.
GETFund has assured that its budget is thoroughly scrutinised in Parliamentary records and managed by a competent Board of Trustees, ensuring transparency and efficiency in financing urgent educational needs.
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