The Ghana Education Trust Fund (GETFund) has shot down claims by former President John Dramani Mahama that it has become ineffective.
Mr. Mahama had expressed worry over the reasons why GETFund set up Daakye Plc and the utilisation of bond proceeds.
The former president, in his remarks, pledged to decollateralize and decap GETFund.
He also alleged that it had been collateralised and capped, hindering its effectiveness.
But GETFund, in a statement, said its receivables have not been collateralised, but rather securitised to raise funds for urgent activities.
It stressed that it still has access to its mandatory receivables and has utilised the funds judiciously for the public good.
The statement, which was issued and signed by Isaac Asiedu-Odei, Head of Public Relations at GETFund, explained that 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.
It added that the bond issuance was managed by Daakye Plc and raised 2.6 billion cedis between 2020 and 2022, funding 3,001 projects.
Read the full statement below
By: Rainbowradioonline.com/Ghana
