Dr Richard Ampofo Boadu, GETFund Administrator
The Government, through the Ghana Education Trust Fund (GETFund), has paid part of outstanding debts owed to contractors, amounting to GHC 667,793,936.27, as of November 2022.
This was in fulfillment of a promise made by the Administrator of GETFund, Dr. Richard Ampofo Boadu, on Tuesday, November 8, 2022, at a stakeholder engagement forum organized by the Fund at the Academy of Arts and Sciences, Accra.
Dr. Boadu had assured the gathering that processes were far advanced to pay claims covering 867 certified certificates on projects and supplies across all levels of education.
The Administrator had indicated how payments were going to be made via the mix of the funding sources, proceeds from Daakye Plc bond issuance and government releases through the Controller and the Accountant General Department (CAGD) to the coffers of the Fund.
The highly patronized forum was graced by the Education Minister, Dr. Yaw Osei Adutwum, among other key stakeholders in the education delivery sphere.
The process
A statement released by the Public Relations Officer of the Fund, Isaac Asiedu-Odei, explained that the process for such payments began in mid-October 2022 with the signing of novation agreements with contractors and ended in November 2022 with the accounts of all contractors duly credited.
Given the breakdown of payments, he indicated that the paid claims covered 271 for basic school projects, amounting to GHC 40,925,832.52 while payments for second cycle schools covered 351 certificates with a total sum of GHC 434,732,042.82.
Mr Asiedu-Odei added that a total of 242 tertiary sector claims were paid to the tune of GHC 188,845,374.61.
“Other claims from the Ministry of Education paid amounted to three million, two hundred and ninety thousand, six hundred and eighty-six cedis and thirty-two pesewas (GHC 3,290,686.32),” he stated.
He further noted that the Daakye payments covered mainly emergency projects that were awarded between 2017 – 2022 and certificates were received and processed on September 30, 2022.
According to him, the tertiary claims covered about 92 percent of certificates on legacy projects inherited by the current administration and were received and processed on September 30, 2022.
He assured the contractors that GETFund would settle all outstanding certificates in an effort to complete stalled projects in the next three years.
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