The Ghana Education Trust Fund (GETFund) has issued a response to recent statements made by John Dramani Mahama, the National Democratic Congress (NDC) flagbearer, concerning the establishment of Daakye Plc and the management of bond proceeds.
Mr. Mahama had previously vowed to “decollateralise and decap GETFund,” claiming that the fund had been collateralised and capped, thus limiting its operational effectiveness.
In a statement released on August 15, 2024, GETFund refuted these claims, clarifying that while its receivables have not been collateralised, they have been securitised in order to raise funds for pressing needs.
The statement further stressed that GETFund retains full access to its mandatory receivables, which have been responsibly allocated to benefit the public.
Isaac Asiedu-Odei, the Head of Public Relations at GETFund, explained that the securitisation and subsequent bond issuance were essential to supporting the government’s Free SHS/SHTS/TVET Programme, which had led to a significant increase in student enrolment, placing a strain on school infrastructure.
Through Daakye Plc, the bond issuance raised 2.6 billion cedis between 2020 and 2022. This funding was used for 3,001 projects, including both inherited and new initiatives, the supply of vehicles and furniture, as well as clearing contractor debts.
GETFund has assured the public that its budget is rigorously examined in Parliamentary records and managed by a skilled Board of Trustees, ensuring transparency and efficiency in addressing critical educational needs.
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