The Deputy Minister of Education, Dr. Yaw Osei Adutwum, has lauded the Ghana National Association of Teachers (GNAT) for sustaining the Teachers Fund over the years.
He disclosed this while speaking at the launch of the 20th Anniversary of the GNAT Teachers Fund under the theme, 'TF@20: Invest to benefit today and secure tomorrow.'
Activities lined–up for the year-long celebration include donations to orphanages, health walk, clean-up exercise, blood donation, quiz, radio interviews, symposium and a float and durbar.
Dr. Yaw Osei Adutwum said that teachers hold societies together through the role they play, adding that the teachers fund was an innovation that had greatly benefited many people.
“I therefore urge members of this fund to keep on in good fate with the hope that generations of teachers will benefit from the fund and also serve as a selling point for young ones who have the desire to be in the teaching profession,” he said.
David Ofori Acheampong, GNAT General Secretary, said that the fund, which was approved in 1998 by the then National Delegates Congress and was implemented with an initial amount of 10 pesewas per member at the time is now worth more than GHC745 million.
“The fund started with the initial objective of providing retirement supplement by investing the monthly contributions to generate good returns for members and has grown to provide other essential services to members,” he said.
Asare George Yamoh, Chairman-TF Board of Directors said, that the fund would reduce interest on loans, strengthen district GNAT secretariat, establish a call centre and others to enhance its financial position and fortunes of its members.
“One of the most impressive income streams of the Fund is rental income from the GNAT Heights and its success has compelled the fund to construct a seven storey multi-purpose office complex at North Ridge.
“All parcels of unoccupied lands to the west and south of the Fund Secretariat have been acquired by the fund for this impending project,” he added.
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