The Ghana Education Trust Fund (GETFund) has clarified issues regarding accusations of misuse or misappropriation of funds from the Daakye Bond.
This comes after the flagbearer of the National Democratic Congress (NDC), John Mahama claimed that the New Patriotic Party’s (NPP) running mate, Dr Matthew Opoku Prempeh, who is a former Education Minister, has questions to answer about the management of the Daakye Bond.
During a Youth Forum in Ho on August 13, Mr Mahama claimed that Dr Opoku Prempeh oversaw the allocation of GH₵4 billion from the Daakye Bond while serving as Education Minister.
“This person who is the running mate for Dr Bawumia was the Minister of Education and he brought a bond to Parliament called the Daakye Bond. It has led to the collateralisation of the GETFund so this year, total receipt from the GETFund should amount to about 7 billion cedis. About 4 billion of that was taken in the Daakye bond by NAPO and his Ministry of Education.”
“Tell me what was that money used for? The project that they said they were coming to fast-track and finish is still standing there unfinished so how did they apply that money? And so people have questions to answer,” he said.
In response, the Fund countered claims that its ability to execute its mandate was impaired due to the collateralisation of its receivables since 2018.
According to an August 16 press release, the Head of GETFund’s Public Relations, Isaac Asiedu-Odei insisted that the Bond has not been collateralised despite portions of the receivables having been “securitised to raise funds to realise its urgent activities.”
The statement explained that this does not mean it has access to its mandatory receivables, neither has the GETFund via Daakye plc received the cedi equivalent of 1.5 billion dollars into its vault.
It says the Daakye issued bonds to raise funds for GETFund and used the funds judiciously for the public good.
Find full statement below:
https://drive.google.com/file/d/1DFTs-c1z6hJ5DKKiivx2YU-thDSYSZbX/preview
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