A-G report: We're a not-for-profit organisation, do not engage in trading – GCPSF

Senyo Hosi3 Senyo Hosi, Managing Trustee of the Ghana COVID-19 Private Sector Fund

Sat, 3 Sep 2022 Source: www.ghanaweb.com

The Ghana COVID-19 Private Sector (GCPSF) has debunked claims captured in the recent Auditor-General’s report indicating that the Fund was engaged in a trade with public funds for personal gains.

A statement signed by the Managing Trustee of the Fund, Senyo Hosi, noted that the organization was created for not-for-profit purposes and therefore could not engage in any form of trading with public funds.

The statement further described as ‘inaccurate and misleading, references captured in the Auditor-General’s report about some of the activities of the Ghana COVID-19 Private Sector (GCPSF).

“We have taken note of the Auditor-General’s management report in reference to the National COVID-19 Trust Fund (NCTF). The report makes inaccurate and misleading references to the COVID-19 Private Sector Fund (GCPSF).

“As a transparent and open organisation whose activities are funded by the public, we are concerned by the misrepresentations made and hereby address the issues as follows:

“The GCPSF has had a healthy cooperation with the NCTF which has ultimately been beneficial to the people of Ghana. We are grateful to the NCTF and proud of the successes attained by the partnership in the provision of public goods.

“We are gravely concerned by the statement made in paragraph 30 of the Auditor-General’s management letter which suggests that the GCPSF could trade with public funds for personal gains. We are a not-for-profit organisation and do not engage in trading.

"Neither have we suggested, acted, nor purported to engage in commercial activities for which the GCPSF, its trustees, officers, assigns or representatives shall or stand to benefit personally,” portions of the statement read.

The Ghana COVID-19 Private Sector was set up to augment government’s efforts in response to the COVID-19 pandemic.

The Fund, through the support of benevolent individuals and organisations, was able to establish the country’s first Infectious Disease Center.

Known as the Ghana Infectious Disease Center (GIDC), a 100-bed capacity facility located in the Ga East area became and continues to be a major referral point for COVID-19 patients in need of intensive critical care.

Read the full statement by the GCPSF below:


The Auditor-General in its 2021 report stated that some GH¢254,203.00 of money that accrued to the Ghana COVID-19 Private Fund cannot be accounted for.

Contrary to Regulation 78 (1) (a) (b) of the Public Financial Management Regulations, 2019 (L.I. 2378), the Auditor-General said: “Our vouching disclosed that out of GH¢10,257,360 paid via payment voucher number 0590507 dated 16 June 2020 to the Ghana COVID-19 Private Sector Fund, a private organisation for the procurement of medical equipment and personal protective equipment (PPE), only GH¢10,003,157 had been accounted for with an outstanding amount of GH¢254,203.00 not accounted for as of 31 December 2020”.

“We recommended that the management should ensure that the COVID -19 Private Sector Fund account for the total amount of GH¢254,203.00, failing which the total amount of GH¢254,203.00 should be recovered from the Covid-19 Private Sector Fund and same paid to COVID-19 National Trust Fund account,” the report stated.

It also noted that the Covid-19 National Trust Fund received total donations amounting to GH¢67,980,222.58 made up of GH¢57,134,093.58 cash and GH¢10,846,129.00 worth of donations in kind.

Out of the GH¢57,134,093.58 cash donations received, a total amount of GH¢37,252,656.90 had been spent on operations and disbursement to 13 organisations and institutions to fight against Covid-19 with the balance of GH¢19,881,436.68 lodged in five bank accounts of the Trust Fund.

“We urged the management to ensure that all donations, both cash and non-cash, are distributed to the appropriate individuals, organisations and institutions to fight against the COVID-19 pandemic,” the report said.


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Source: www.ghanaweb.com
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