GETFUND dismisses Mahama's claims of ineffectiveness

The Ghana Education Trust Fund (GETFund) has reacted to claims made by John Dramani Mahama, the National Democratic Congress' flagbearer, about the formation of Daakye Plc and the use of bond proceeds.

Mr. Mahama had promised to decollateralize and decap the GETFund, claiming that it had been collateralised and capped, limiting its usefulness.

In a statement dated August 15, 2024, GETFund explained that its receivables were not collateralized, but rather securitized to raise financing for essential activities.

According to Isaac Asiedu-Odei, Head of Public Relations at GETFund, the securitization and bond issue were required to finance the government's flagship Free SHS/SHTS/TVET Programme, which resulted in increased enrollment and congested school facilities.

Find the full statement below:

Source: Lead News Online