• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home highlights

GETFund to settle debts with 60% of projected inflows

4 years ago
in highlights, Home, home-news, latest News
1 min read
0 0
0
116
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

The Ghana Education Trust Fund (GETFund), according to a Parliamentary report, will be using some Ghs 866 million (approximately 60 percent) out of total projected inflows of Ghs 1.4 billion for this year to defray its debts.

Making the disclosure on the floor of Parliament, administrator of the Fund, Dr Richard Boadu asserted that should the said amount be taken out of the Fund’s projected inflows to settle its debts, the Fund will be left with only Ghs 534 million (40 percent) to undertake its programmes for the year.

“This is of grave concern and it will seriously impact the Fund’s programmes and activities for this year,” Dr Boadu stated.

Proffering some solutions to the administrator and other officials of the GETFund, some members of Parliament suggested that since the Fund’s inflows are tied to a percentage of projected revenues which could sometimes experience shortfalls, the Fund should focus on utilising its inflows to fund projects instead of resorting to borrowing.

Must Read: Ghana-EU interim Economic Partnership Agreement now in full force

But justifying the Fund’s borrowings, officials of GETFund noted borrowings by the Fund enabled it to adequately finance and complete its projects on schedule and also helps to avoid high variation costs caused by delayed completion of projects.

“Project variation cost, which typically adds 40 percent to a project’s initial cost, is much higher compared with GETFund’s average borrowing rate of 20.5 percent,” officials of the GETFund added.

RelatedPosts

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

This year, GETFund has set aside Ghs 30 million for MPs emergency projects and monitoring activities.

The Fund will also spend some Ghs 175 million of its projected inflows on projects and programmes on tertiary education. With regards to secondary and basic education, the Fund will spend Ghs 74 million and Ghs 66 million on programmes and projects respectively.

Tags: administrator of the FundDr Richard BoaduGhana Education Trust Fund (GETFund)Parliamentary report
No Result
View All Result

Highlights

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

Banking Sector Soundness Remains Robust in 2024 Amid Strong Profitability, Adequate Capital Buffers

Sha’Carri Richardson Withdraws from US Trials Following Arrest

From Singuluma to El Kaabi: Can CHAN 2024 Unleash the Next Hat-trick Hero?

Ghana to Welcome King’s Baton Relay on August 8 Ahead of 2026 Commonwealth Games

Trending

Features

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

August 2, 2025

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes Parliament has adjourned...

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

August 2, 2025

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

August 2, 2025

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

August 2, 2025
Bank of Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

August 2, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.