Chiefs initiate Endowment Fund towards financial independence

The government has provided GH?500, 000 in support of a proposed Houses of Chiefs Endowment Fund, Togbe Afede XIV, President of the Volta Region House of Chiefs said at an emergency meeting of the House on Wednesday.

He said the proposed GH?3, 000,000 Fund would be grown to GH?20,000,000 in 10 years.

Togbe Afede, Agbogbomefia of Asogli, said only the accrued interest on investments would be used to ensure that the interest of future generations in the Fund was secured.

He said the Fund would help strengthen and give financial independence to the Houses of Chiefs and Traditional Councils whose initiatives would be funded by the Fund.