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Ghana will fund its free high school policy with the Heritage Fund
The policy that is set to begin in September this year is estimated to cost GHS3.6 billion yearly.
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The policy is set to begin in September 2017 and is estimated to cost GHS3.6 billion yearly, analyses by the B&FT have shown.
About 1.6 million eligible students between the ages of 15-17 years across the country are expected to benefit from the policy when it begins in September this year.
Currently, there are about 432,780 SHS students in the country per the 2015/16 academic year data, and the government spends GHS2, 312 on each student per year.
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READ ALSO: Free SHS will fail - IMANI
The president, Nana Akufo-Addo over the weekend said the free public SHS education was aimed at building an educated populace for speedy national development and progress.
"By free SHS, we mean that in addition to tuition, which is already free, there will be no admission fees, no library fees, no science centre fees, no computer laboratory fees, no examination fees, no utility fees. There will be free textbooks, free boarding and free meals and day students will get a meal at school for free.
"Free SHS will also cover agricultural, vocational and technical institutions at the high school level," Nana Addo said.
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Many have since kicked against the move, saying it will not be feasible. A retired Ghanaian diplomat, K.B Asante said the implementation will not be sustainable especially with the financial situation of the country.
The Head of Economics at IMANI, Patrick Stephenson has also said the government's implementation of the free Senior High School (SHS) policy will fail due to the current economic conditions.
Some analysts believe the country should rather focus on accessibility and retention of students in schools due to questions over how the policy can be sustained.
But speaking to Journalists on Tuesday on the sidelines of a Graphic-Stanbic breakfast forum, Mr. Marfo said: “We are going to look at the Heritage Fund. The Heritage [Fund] implies for the future. We want to introduce…and the president mentioned it last week [Free Senior High School] and it is likely to be funded through the Petroleum Act [Heritage Fund].”
He said the government will amend the Act to allocate some portions of the fund to the implementation of the policy.
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Heritage Fund
Ghana’s Heritage Fund is a strategic endowment reserve. According to Ghana’s Petroleum Revenue Management Act of 2011, the endowment reserve is set up to support the development for future generations when Ghana’s petroleum reserves have been depleted. The Heritage Fund receives nine percent of the country’s annual petroleum revenue.
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