Richard Ampofo Boadu

The Administrator of the Ghana Education Trust Fund (GETFund), Richard Ampofo Boadu, has revealed the total debt accrued when he assumed office.

According to Mr Boadu, they incurred a total debt of GHc 3.6 billion spanning from 2014 to 2017 when he took over.

He explained that these debts included contractors who had completed their jobs and had presented certificates for payment.

Others, he said, were impending debts as the contractors were yet to complete their various designated projects.

He made the disclosure when speaking on Asempa FM’s Ekosii Sen.


“GHS 834 million of the debt was owed contractors who had raised certificates and about GHS 2.7 billion impending debts since the projects were ongoing. So our liabilities were about GHS 3.6 billion outstanding debts,” he said.

He revealed people on daily basis demand payments and they had to act swiftly, stating they could not solely rely on their GHS 1 billion statutory payment.

“About 70 people troop to my office daily and I can remember a day a 65-year-old medical doctor whose money was locked up came to my office to weep.

“Another also collapsed at the premises and had to be rushed to Nyaho Clinic, where I bared all the hospital cost. So the situation was that bad,” he recounted.

However, he disclosed about GHS 2 billion has been paid to contractors between 2014 and December 2019, adding that they have been on course when it comes to their payments. “In 2017 we paid 365 million, 604 million in 2018, 773 million and 333 million in 2019 and 2020 respectively,” he noted.