The Ghana Education Trust Fund (GETFund) has used 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 said the new administration launched the outreach to close Ghana’s “huge infrastructural gap” by bringing companies and individuals into school development.
“The company Saka Homes has responded to the initiative of GETFund to get individuals and companies to contribute to the development of infrastructure. We’re most grateful to Saka Homes for showing the lead,” he said.
Asuinura confirmed Saka Homes Limited is the first to deliver a complete project on its own. “He’s one of many that has responded and I believe that a lot more companies are going to respond,” he revealed.
He explained that GETFund gives donors options: they can choose project locations and brand completed facilities with company logos for visibility.
Another key incentive is tax relief through arrangements with the Ghana Revenue Authority (GRA).
“We’ve had arrangements with GRA that allows the company to apply for tax deductible expense; that implies that they’ll get a tax relief support from Ghana Revenue Authority,” he stated.
Asuinura added that the framework aims to reduce the state’s infrastructure burden by incentivizing private investment in schools.
The donation was received on behalf of GETFund by its boss, Paul Adjei.
Saka Homes Limited’s Managing Director, Kwadwo Saka Addo Mensah announced the GHC 18,702,819.08 donation for a 250-bed dormitory at Achimota School.
The two-storey block will comprise 16 residential units and targets accommodation challenges at the school while expanding access to secure housing for students.
Speaking on the project, Mensah said the initiative has “been on my heart for long.”
He noted that GETFund’s program offers tax credits for private entities supporting educational infrastructure.
He further explained why he chose Achimota School: “I chose Achimota School because that is my Alma Mater. Five years ago, I built a 48-bed ward and donated it to my school, and it’s always been my desire to do something for the school,” he disclosed.
Mensah confirmed GETFund Authority is supporting the project through tax credits arranged with the Ghana Revenue Authority.
He urged wider uptake of the scheme. “I encourage other businesses and people who have funds and are willing to support GETFund to engage with them and get some relief from Ghana Revenue Authority,” he said.
According to Saka Homes Limited, the dormitory supports long-term educational infrastructure growth and promotes equal access to education.
