Private Sector-Led Initiative

A team of leading businesses in Ghana jointly launched ‘The Ghana COVID-19 Private Sector Fund’ – a GHC100 million fund set up to complement the Government of Ghana’s (GoG) efforts to fight the rapid spread of the COVID-19 in Ghana. The fund will be deployed to resource healthcare institutions with badly needed equipment and supplies and to promote desired individual and social behavior outcomes that are critical to stemming the spread of the novel coronavirus.

Co-Chair of the Board of Trustees of the Fund and Chairman of Fidelity Bank Mr. Edward Effah explained that the COVID-19 Private Sector Fund will raise at least GHC100 million FROM selected individuals and businesses to complement the seed money provided by the trustees of the Fund. Each trustee contributed GHC1 million as seed money for a total of GHC10 Million to set the fund rolling.

Co-Chair Mr. Effah said the trustees were counting on the general public and businesses to contribute to the Fund, explaining that that trustees had put in place adequate measures to ensure maximum transparency and accountability. This includes the appointment of Stanlib Ghana Ltd as Fund Administrator, Fidelity Bank as  Fund Custodian and Ernst & Young as Fund Auditors. Mr Effah announced that all donations and disbursements will be published on the Fund’s website unless a donor requests anonymity.

Mr. Alexander K Abban, Deputy Minister of Health (MoH), commended the private businesses for their exceptional show of love at a time when the pandemic was exacting its toll on businesses. Deputy Finance Minister Mr. Charles Adu Boahen added that the initiative by the private sector will be supported by government to win the fight against the novel coronavirus. To demonstrate his personal support of this initiative, Mr. Adu Boahen donated three-months of his salary to the Ghana Covid-19 Private Sector Fund.

Below is the list of the trustees of the Ghana Covid-19 Private Sector Fund:

  • Mr. Anthony Oteng-Gyas (Chairman – Tropical Cable & Conductor)
  • Mr. Edward Effah, (Chairman – Fidelity Bank Ghana Ltd)
  • Mr. Kwaku Bediako (Director – CH Group)
  • Mr. John Taylor (CEO – Woodfield Energy Resources Ltd)
  • Mr. Omane Frimpong (Chairman – Wilkins Engineering Ltd)
  • Mr. Kwame Ofosu Bamfo (MD – Bamson Group)
  • Mr. Kwabena Adjei (Group Chairman – Kasapreko)
  • Mr. Thomas Svanikier (Chairman – Svani Group)
  • Mr. Kwasi Twum (CEO – Multimedia Group)
  • Mr. Senyo Kwasi Hosi (CEO – Chamber of Bulk Oil Distributors)

Credits: GoldStreetBusiness.com