GETFund education financing initiative secures first fully funded project

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, said the new administration launched the initiative to close Ghana’s “huge infrastructural gap” by encouraging companies and individuals to support school development.

“The company Saka Homes has responded to GETFund’s initiative to get individuals and companies to contribute to the development of infrastructure. We are most grateful to Saka Homes for showing the lead,” he said.

Asuinura confirmed that Saka Homes Limited is the first to deliver a complete project under the scheme. “He is one of many that have responded, and I believe that many more companies will respond,” he said.

He explained that GETFund allows donors to 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 have had arrangements with the GRA that allow companies to apply for tax-deductible expenses; this means they will receive tax relief support from the Ghana Revenue Authority,” he stated.

Asuinura added that the framework aims to reduce the state’s infrastructure burden by incentivising private investment in schools.

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 GH¢18,702,819.08 donation for a 250-bed dormitory at Achimota School.

The two-storey block will comprise 16 residential units and is expected to ease accommodation challenges at the school while expanding access to secure student housing.

Speaking on the project, Mensah said the initiative had “been on my heart for a long time.”

He noted that GETFund’s programme offers Education financing and partnership 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 has always been my desire to do something more for the school,” he said.

Mensah confirmed that the GETFund Authority is supporting the project through the education financing and partnership arranged with the Ghana Revenue Authority.

He urged wider participation in 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 the Ghana Revenue Authority,” he said.

According to Saka Homes Limited, the dormitory supports long-term educational infrastructure development and promotes equal access to education.