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25.07.2005 Business & Finance

GETFund Board of Trustees told to adhere to good corporate governance

GNA

Accra, July 25, GNA - President John Agyekum Kufuor on Monday asked members of the reconstituted Board of Trustees of the Ghana Education Trust Fund (GETFund) to adhere to good corporate governance and the Financial Administration Act to ensure transparency and accountability in the operations and management of the Fund.

He said the Board was to complement activities of the Ministry of Education and Sports and there should, therefore, not be any crosscutting in their operations.

President Kufuor made the call when he administered the Oaths of Office and Secrecy at the inauguration of the 14 of the 17 Member-Board of Trustees of the GETFund at the Castle, Osu, on Monday. He said over the past decade, growth in the population of educational institutions from the basic to the tertiary level had taken its toll on existing infrastructure and quality of teaching and learning in schools.

President Kufuor said the GETFund had made it possible for a greater number of pupils to attend school, academic facilities and quality of education delivery in institutions had improved with the provision of equipment, teaching and learning materials and scholarships.

He said with the inauguration of the Members, not only stakeholders in the sector but also the entire nation would demand greater accountability. They should, therefore, adhere to good corporate governance.

President Kufuor expressed appreciation to the previous Board chaired by Mrs Silvia Boye, an Educationist, for their pioneering work and invaluable services to the nation and expressed optimism that the new Board would not disappoint the Government and the nation. Alhaji Mustapha Ali Idris, Chairman of the Board, expressed appreciation for the confidence reposed in them for the onerous task ahead and pledged to carry out their assignment efficiently and effectively.

He gave the assurance that the Board would work in a harmonious manner to ensure that their work benefited the nation. Alhaji Idris said since they had been entrusted with the management of substantial funds they would work efficiently and judiciously and in strict compliance with the tenets that informed the setting up of the Fund.

Other members of the Board are: Mr Samuel Baafi Nyantekyi; Mr Musah Aristophanes Kwame Gyan; Mr Harry Owusu; Mr Ato Essuman; Mr Kobina Quansah; Mr Albert Essien and Mrs Doris Awo Nkani.

The rest are: Mr Joseph Adjebeng Danquah; Mr Ernest Adade; Mrs Leticia Osafo-Addo; Mrs Francesca Pobee-Hayford; Mr Joe N.B. Tetteh and Professor (Mrs) Florence Abena Dolphyne.

Three other members not present at the inauguration were Mr Fosuaba A. Mensah-Banahene, Administrator of the GETFund, Professor Kwesi Andam, Vice Chancellor, Kwame Nkrumah University of Science and Technology (KNUST), Kumasi and Mrs Felicity Acquah.

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