Accra: The Ghana Education Trust Fund (GETFund) has leveraged its Education Financing and Partnership initiative to attract private funding for school infrastructure, with Saka Homes Limited becoming the first company to fully fund a project under the scheme. GETFund's Financial Controller, Alexis Asuinura, emphasized the initiative's role in addressing Ghana's significant infrastructural gap by motivating companies and individuals to contribute to school development.
According to Ghana Web, Asuinura acknowledged Saka Homes Limited as the first to complete a project under the scheme. He expressed gratitude for the company's leadership and anticipated further participation from other companies. The initiative allows donors to select project locations and brand completed facilities with their logos, providing visibility. Additionally, there is a tax relief incentive through arrangements with the Ghana Revenue Authority, enabling companies to apply for tax-deductible expenses.
The donation was received on behalf of GETFund by its Chief Executive, Paul Adjei. Saka Homes Limited's Managing Director, Kwadwo Saka Addo Mensah, announced a GHS18,702,819.08 donation for a 250-bed dormitory at Achimota School. The two-storey block, comprising 16 residential units, aims to alleviate accommodation challenges and expand access to secure student housing at the school.
Mensah highlighted the significance of the project, noting its longstanding importance to him. He chose Achimota School, his alma mater, due to a personal connection and previous contributions to the institution. Mensah emphasized the value of GETFund's initiative, which offers education financing and partnerships for private entities involved in educational infrastructure.
Mensah confirmed that the GETFund Authority is supporting the project through the education financing and partnership scheme with the Ghana Revenue Authority. He urged broader participation in the initiative, encouraging businesses and individuals with the means to support GETFund and benefit from tax relief.
According to Saka Homes Limited, the dormitory project is a step toward long-term educational infrastructure development and promotes equal access to education.